Money transfers around the world have always been difficult because of infrastructure problems in the region. Some countries which are least developed countries are badly affected because most of the people live in villages in rural areas. The traditional methods of sending money have proven to be unreliable or too expensive.
It has always been a problem to transfer money to the people, especially in the rural areas, due to infrastructural and institutional problems, which can be summarised as follows;
Recent surveys show that while the country has a good road network, there are many poor feeder roads connecting villages to the main road network, resulting in high transport costs for people to get to a bank.
2. Inaccessibility of banking services
- Banks are usually located in big cities and have offices in small towns. This means that people in rural areas have to travel a long distance just to get to a bank.
- Banks usually require a minimum balance before opening a savings account. Banks also set daily and monthly withdrawal limits, not only for money but also for transactions. In some families, the daily money is not even enough to spend.
- Banks have onerous customer policies. There are people who do not have a national identity card system and it is difficult to get identity documents accepted by banks.
3. Expensive remittance services
In addition to banks, there are several money transfer services such as MoneyGram and Western Union, which typically charge more than $10 per transfer. The 10$ that they have to pay for fees each month could be their meals for several days.
Due to limited banking hours and specific procedures, international transfers typically take several days. During this period, it may be a time when people at home are hungry or desperately waiting for money.
The ‘revolutionary solution’
In the age of the mobile phone, mobile network operators have found a way to send money to rural areas. By taking advantage of the ubiquity of the mobile phone, mobile network operators around the world have solved the dilemma of sending money. The use of mobile phones has increased in recent times. The increasing use of mobile phones has led to an increase in mobile phone products. With these products and services, phone users can use their phone as a wallet: They can load money onto their phones, send and receive money, make deposits and withdrawals, purchase goods and services, and pay bills.
Asdra Move, a promise for the better tomorrow of the financial platform.
Considering the user experience in the development process of a forward-thinking product is vital to our success. Users can utilize the benefits of cryptocurrencies and blockchain technology without being constrained by any limitations.
With Asdra, everyone has access to some of the company’s financial services as easily as possible through their mobile phones.
Customers can enjoy lightning-fast transfers across borders. With the best exchange rate in the market, you can instantly send money back home and receive the cash fast through our partner network anywhere along the way.
To learn more about our technology, Asdra Move, the Asdra Protocol, Asdra Utility Token that binds the ecosystem, please visit ASDRA