The World of Possibilities with Paycent
New technological advancements of today don’t always catch everyone’s interest. Some people are still skeptic but what these people need is the right information. There are numerous innovations which have been created with the goal to lift the people and become financially empowered. Financial inclusion is about giving people the right tools to manage and save their money. Financial inclusion is about guiding people to acquire the needed knowledge to make wise financial decisions. To aid in this journey, blockchain might truly be the answer.
A blockchain can be defined as a digitized, decentralized, public ledger of all cryptocurrency transactions. Its current purpose is to combine the security of cryptocurrency, the storage, and the data in a coded form to create a shared database of transactions that is trusted and at the same time, it is not controlled by anyone. The blockchain may be created for digital currencies but people are now discovering that it has other potential uses.
One of the huge potential advantages of blockchain is that it can act as a distributor for digital ledgers. It can be the tool that will share data transparently. Businesses can have the ease of storing contracts and certificates on the blockchain without the need for a third party. No need to verify the transactions manually by a trusted intermediary, the computers of the shared network of users can perform the verification themselves.
Without the trusted intermediary, people nowadays may fear this kind of innovation but some are beginning to understand how blockchain is the future. No need for long verification processes — it’s the same process but easier and more transparent. This is where Paycent comes in — it is an innovation that will prove that blockchain is the future.
In line with this, Paycent is a global mobile dual ewallet that can be funded by digital assets (e.g. Bitcoin, Ether, Litecoin) with high liquidity and fiat currencies within the same mobile application. Paycent launched in Singapore in August 2017. Now they are on the verge of completing all partnerships in the Philippines and will launch soon with full capabilities. Paycent users from Singapore can send money to the Philippines and the recipient can receive the money at Cebuana Lhuillier branches. The app is available on Google Play and the App Store and now has over 40,000 downloads. It will soon be followed by Indonesia, Hong Kong, Malaysia, Pakistan, Nepal, Bangladesh, India and the United Arab Emirates (UAE) starting Q4 of 2017.
Paycent aims to bridge the gap between digital assets and fiat. It is a multi-asset wallet which allows its users to have global access to 36 million points of acceptance online and offline in close to 200 countries. It is decentralized, secure and is a trusted storage for assets. Paycent enables users to exchange between fiat currencies and digital assets seamlessly.
Aside from these developments, Paycent is currently coordinating with two banks in the Philippines to merge it into one. This bank will offer microlending. It is the practice of lending small amounts of funds to those who are in need. Paycent aims to offer microlending using blockchain. It will lend both fiat and digital assets. People can now enjoy hassle-free loans through this innovation.
Imagine having all these capabilities through a single application. Experience this power conveniently at your fingertips by downloading Paycent now on the Play Store: https://goo.gl/cKXxDw or on the App Store: https://goo.gl/tAuhLD
The Paycent whitepaper is available with more details.