Selasa, 07 November 2017

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The remittance industry is an integral part of the developing world and many countries in Asia, Africa and Latin America relies heavily on remittances as part of their GDP. Communities in these countries survive on the money transferred back from their family members monthly and without these remittances, these communities can easily fall into poverty or even starvation. Based on data from The World Bank, in 2016 alone $575 billion USD was remitted globally. This industry is currently dominated by banks as well as a few legacy players such as Western Union and MoneyGram whom charge relatively high fees (See the Fees Table) as well a margin from the foreign exchange rates which can go as high as 6%. See below for how high fees can go.

Cashaa is a next generation financial depository like the Bank but it is based on blockchain and aimed at blockchain consumers without having to really understand about Blockchain technology. Even casha provides full service to its customers by providing consumer services such as instant balance updates, sending, receiving, paying, borrowing and insuring with our beautiful interface and easy-to-use notifications. The service system of Cashaa is a financial services application based on blockchain technology and artificial intelligence that will empower devices with biometric filtering systems to solve existing financial system problems for disadvantaged and tied populations. Thinking of the next generation of Banks is Cashaa which is a blockchain based payment system aimed at lowering the barriers to financial inclusion and providing financial services to buyers and not owning shares.

With increasing globalization, more and more people are working overseas in stronger economies and remitting money back to their families and this is causing the remittance industry to grow bigger and bigger. Notwithstanding, there have also been massive refugees movement in recent years and once these refugees become economically contributing members in their new communities, they will also be remitting money back to the families that they left behind in their former countries. The World Bank estimates that remittances are expected to reach $615 billion by 2018 up from $575 billion in 2016.


Cashaa is not just a typical banking application. The cashaa wallet provides a full spectrum of customers’ digital-centric finance services such as instant balance updates, sending, receiving, paying, borrowing and insuring with our beautiful interface and easy-to-use notifications.And Providing financial access to millions of mobile users using alternative credit ratings assisted by data science and machine learning. Cashaa microfinance services enable businesses, individuals, and other parties to have the opportunity to do so within the Platform.

Cashaa is a startup that intends to disrupt this massive industry by developing a banking solution that can allow faster and cheaper remittance than what is provided by the current players. It will leverage on the fast growing cryptocurrency market to provide the much needed liquidity and will offer a flat fee of $1 for remittances and wholesale foreign currency exchange rate. It will compete directly with the traditional players who have been charging high fees and speed up the transactions.
Traditional players like Western Union and Moneygram relies on themselves as well as the banks to provide the liquidity for remittance to take place. This is the reason for the fees and high margin exchange rates charged by them. But Cashaa will leverage on the liquidity provided by cryptocurrencies traders whole wide to actualize the money transfer. And they will do this in the background seamlessly. The cryptocurrency market is now at $175 billion market cap and is expected to reach 1 trillion dollars in the near future, and will be able to give the liquidity needed for a global remittance industry. This will immediately impact the remittance industry as fees will be lowered and traditional players will be pressured to lower their rates too.

An immediate response by skeptics is why would anyone trust Cashaa to remit their money back home and that most customers will stick to Western Union and Moneygram and the likes. First of all, Cashaa will require the crypto traders to provide escrow for the crypto currencies to be traded; the seller to provide 100% of the coins he is selling while the buyer will provide 10% in the escrow wallet. Moreover what Cashaa is doing is to enable trust with the use of KYC checks which will be compliant with the different guidelines in each country as well as the usage of legally binding smart contracts provided by Agrello Foundation.

Cashaa benefits:

*save a lot of money using Cashaa instead of using a traditional remittance service or bank.
*have a very liquid way to exchange cryptocurrency
*generate substantial returns

Vision

We believe there must be an efficient alternative to existing payment and banking systems. Our blockchain-based payment system aims to lower the barriers of financial inclusion and provide financial services to banks and do not have permits. Our vision is to build the payment infrastructure and banking for the future on AI's powerful blocking infrastructure that can create an outdated legacy system, creating value for the world. Cashaa is based on 4 basic principles:

* Produce financial products for Banked and Unbanked: Cashaa's digital and transparent services not only appeal to the turning population, but also provide financial solutions to 2.5 billion unbanked and 1 billion underbanked globally, creating a unique cross-border. platform that can serve the entire population.

* Facilitate Low-Cost Currency Exchange: Send money across borders quickly, at a small flat fee-a fraction of the current cost, which currently averages 7% 16. The industry-leading technology platform supported by our merchant network can protect your money and offer the best foreign exchange rate (FX) 17 each time you use Cashaa.

* Enabling Investment in a Global Economy: Cashaa's products can enable its users to access the global economy in a decentralized way. They can facilitate the transfer of values across boundaries allowing greater portfolio diversification with higher yields18.

* Dedicated to Communities with Open APIs: Create next-generation DAPTs to solve the world's greatest financial challenges. Our SDK and Open API developers with integrated biometric and integrated intelligence services will accelerate the growth of digital innovation.



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