MakerDAO Continues Asia Expansion via ShuttleOne

Nov 10, 2019 · 3 min read

Over the past two years, MakerDAO has made unprecedented advances and began to tackle some of the world’s most challenging monetary issues. Programmed with novel yet familiar mechanisms via cryptography and economics, MakerDAO seeks to secure the financial futures of humanity through what is now known as decentralized finance.

It is well known that most if not all fiat currencies lose value over the course of time and the loss of value and recognition causes widespread havoc and disruption in our lives. The age of programmable money in a digital world can bring about massive improvements and uplift lives in places that were once inaccessible through traditional financial services and tools.

ShuttleOne is an integrated fintech blockchain platform that delivers the experience of remittance, loans and provides for a virtual savings account to our ecosystem of partners and users in Southeast Asia. We leverage the efficiencies of the blockchain and stablecoins to deliver digital financial services that achieves higher efficiency, lower cost for our clients and ecosystem.

Dai Stablecoin Poised for Further Expansion

Dai is designed as an overcollateralized ecosystem where the value of the stablecoin Dai is over collateralized by 150% of assets. Currently, all the Dai issued is backed by ether (ETH) but with the introduction of Multi-Collateral Dai(MCD), the Dai monetary base will be further expanded to bring about greater liquidity and diversification of risks from the ether only asset base.

ShuttleOne’s vision is to reduce the friction between digital assets and local currencies. Established a year ago in September 2018, ShuttleOne, a mobile first application layer of stablecoin protocols, is on a mission to bring the benefits of Dai in a compliant and legal manner to users within their ecosystem.

MakerDAO’s Business Manager Gustav Arentoft said: “MakerDAO believes in the strong vision for South East Asia which Shuttleone has, and we are excited to tackle real-world issues together”

South East Asia Focus

Statistics on South East Asia

For South East Asia, a region with a total population of roughly 650mil people and 50% that are still under the age of 35, financial inclusion and services that are mobile first will greatly enable this young population come into economic viability.

ShuttleOne has been active in the rural regions of Indonesia with a pilot loans program that serves a network of cooperative rural banks and their immediate communities. In addition, we are gearing up to digitize these incumbent rural banks where their accounts would be given a virtual mobile first account where members can perform transfers, take loans and generate interest on deposits via Dai.

For the first time, users within these networks can benefit from not only the utility of currency, but also the benefits that were once stoned walled within tier 1 cities and places where a bank branch is unavailable. With ShuttleOne, together we are poised to increase the monetary velocity of Dai which will bring about greater values within the macroeconomics of Dai and increase value and access to users on both sides.

Maker’s protocol allows our users to enjoy the benefits of programmable money, where money works when you sleep. We look forward to an exciting journey with MakerDAO’s innovations in this space.

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