How crypto currencies can help millions living in developing countries
Cryptocurrencies are on everyone's lips these days, with the blockchain technology expanding rapidly as more people and countries get in touch with it.
Nowadays, more than 2 billion people do not have a bank account and can therefore not do any virtual transactions. The technology is not only a possibility for developed countries, but especially for less developed countries that suffer poverty, corruption and are missing the connection to financial markets. The technology makes it possible to conduct worldwide transactions with a limited access to financial services. 4bridges.ch developed a WebApp called 4cash.io, which allows to execute transactions without having a bank account. Required are just an internet connection as well as a phone number. Crypto currencies can therefore contribute to the growth process, the traceability of funds and help people escaping poverty. The decentralization of the system makes it impossible for one party to control transactions which increases the transparency and fights corruption in the financial system.
We as 4bridges are very happy to be part of the SA Innovation Summit and to connect with South African companies to expand the technology and make the world a better place.
*Robin Caduff is the Co-founder of 4bridges.ch.
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