Imagine the future of the banking system: introducing Cashaa
Cashaa is an innovative system based on the blockchain: a banking platform for the “next billions”, aimed at servicing those who are already part of the financial system but also those that are currently cut out of it, the so-called “unbanked”. Think about the people living in India or Africa who don’t have access to bank accounts and other forms of credit, who cannot receive funding or are simply cut off from the financial system. A solution to allow them to integrate into society had to be found: it’s called Cashaa.
By exploiting the Blockchain technology, Cashaa wants to create a one-stop shop platform where its users can manage their funds, both Fiat and cryptocurrency, transfer money internationally in a quick, safe and low-cost way. Our smartphone becomes the main access channel to the funds and will allow us to interface with the banking experience in a simple, intuitive and, above all, pleasant way. No more waiting for days to transfer money abroad, nor having to use different accounts or exchanges. Everything’s there, in one single app.
One of the most interesting features is certainly the possibility of obtaining credit in local currency: users can, even without a bank account, access to loans or cash thanks to the Cashaa platform, to its credit card and the CAS token. Example: A user who lives and works in England wants to send money to a family member, user b, in India. Currently, he should use services (like Western Union or others) which apply very high commissions and, most of all, require very long processing times. Cashaa, on the other hand, allows for simple, almost immediate (< than 30 minutes) money transfer at no fee! User A (resident in England) by connecting to the Cashaa platform, can send money in GBP or token CAS to user B located in India, who will directly receive the money in rupees. If user B does not have access to the platform, he can still receive money from another user, who will then be rewarded in the currency they prefer or in CAS tokens.
Another important point of Cashaa is the compliance with KYC. It will make the use of the platform more secure and protected from the negative consequences of lack of regulation (like the limits imposed by banks to purchase crypto with credit cards or by international governments seeking regulation of cryptocurrencies). Cashaa will also create an innovative trading platform designed to allow its traders to buy and sell cryptocurrency in Fiat or even using CAS tokens. Additionally, they will have access to a Cashaa credit card that can be used as a normal card around the world.
Holdings CAS tokens will also have advantages: 1) they can be used as a mean of payment for the platform’s users. 2) They allow low-income individuals or small businesses to obtain a credit score, increasing their financial inclusion. 3) They allow unlimited withdrawals at ATMs and access to grants and other financial means. 4) They give traders the opportunity to create smart contracts.
The banking system, like all the other businesses, has to evolve and make its services more accessible, inclusive and fast. The blockchain is certainly the right tool for it, and we can expect to see those enhancement within the next five years. Cashaa stands as the precursor of a new concept of banking, which is focused on its users, ensures financial inclusion to the unbanked and improves the experience of those who are already part of the system.
Cashaa is one of the few ICO projects of 2017 with real value and case use in the market and which aims not at destroying a system, but at improving it; and make it fairer for the community. Undoubtedly, it will be of positive impact for billions of people, at the moment called “ the unbankable”, but who can have access, in a few years, to funding and, potentially, will be able to fulfil their dreams. Finally, Kumar Gaurav, founder and CEO, demonstrated, with the previous projects in which he worked, to be a successful entrepreneur and graduated at the prestigious Politecnico di Milano. I can only wish Cashaa, its team, and amazing community to succeed!
Disclaimer: this article does not constitute an invitation to purchase or sell securities in any jurisdiction or a solicitation or investment advice in Cashaa, CAS token or any other cryptocurrency, and is published for information purposes only. The reader undertakes to carry out appropriate research and in any case to consult a professional before taking any decision regarding Cashaa. To find out more, visit the website https://cashaa.com/.
