Close to a third of the world's adults are unbanked. Crypto aims to solve this disparity!
The mission of the blockchain is not all about making money. It's about providing access and inclusion as well. The blockchain is basically computer code, which works peer to peer to validate transactions, thereby completely bypassing the need for traditional financial institutions i.e. banks.
Currently, there are over 1.7 Billion people worldwide who cannot access financial services. They can’t protect their money, gain access to wealth-building tools and services, or effectively plan for their future.
The potential widespread use of open decentralized digital finance – financial services delivered via the internet, can greatly reduce this disparity! Just look at some examples of countries like Nigeria, Vietnam, Turkey and Philippines that have recorded high rates of Crypto adoption! For example, almost a third of Nigerians now own some form of cryptocurrency. Nigerians actively use cryptocurrency for buying or selling goods and services and sending money across borders to family and friends.
Increased crypto adoption with increased innovation have a real opportunity to democratize traditional financial services. But decentralized finance to many is still very complicated and nascent a technology to master and leverage.
Hossein Azari is tapping into this very pain point to build CMORQ, to empower consumers by giving them an easy access to decentralized finance for personal banking. Through the CMORQ app you can exchange, send, and lend crypto to earn passively.
In Part 2 of our conversation with Hossein, we talk about the current complexities of crypto, and how CMORQ aims to solve this problem and be the easy onboarding app for millions of customers around the globe!