Cryptocurrency and the Blockchain technology
Since the inception of bitcoin, there has been a rapid growth in the adoption of the cryptocurrencies and the blockchain technology. This is seen in the total market capitalization tripling since early 2016. And this is owed to the great possibilities made available by the technology.
From the inception, the bitcoin has been known to be only good for payments and transactions as it presents greater advantages over trading or transacting with the fiat currencies:
- It is very fast and not location limited. It processes payments for long distances as though payments for short distances – there is no difference.
- Users can easily track their transactions as it is stored on the blockchain. It cannot be altered, neither can it be changed – it is transparent and secure.
- It makes use of a trustless system. Having transactions in a distributed ledger system when no single file stays in the same location but each file is distributed over multiple ledgers around the world. This makes it uneasy to hack.
- It is not regulated. Governments, laws are inexistent as all is done digitally.
But over the years, it has found some other applications that have made it boomed. Like the essence of the smart contracts which can be used in almost every sector. Smart contracts work like normal legal contracts, only that it is self-executing and it eliminates intermediaries. Smart contracts have found its applications in almost every sector: from health to law, to trade financing, etc. All made possible through several blockchains that came into existence after bitcoin.
It has been projected that by 2020, the market capitalization of all cryptocurrencies combined will have formed 10% of the world’s GDP.
But there is a thin line, which needs to be filled – ability to be able to interact with the cryptocurrencies as though fiat currencies. There has been little focus on providing a no- collateral loan for users on the blockchain (especially users coming from the third world countries).
Kurecoin has come to fill the gap so as to help hasten the adoption of the cryptocurrencies because of great advantages it provides over the fiat currencies as stated above.
Kurecoin stated that:
Kurecoin is a decentralized cryptocurrency built with proof of stake algorithm (PoS) offering the entire cryptocurrency community a seamless and secured mode of transactions for investors within the KureCoinHUB ecosystem and other major exchanges.
Kurexchange allows users to be able to buy and sell their cryptocurrencies without hassle. Users can now use their fiat currencies to buy cryptocurrencies with the use of their credit or debit card.
Kurecoin offers collateral-free loans to users. This is a very big solution for the unbanked or ineligible customers of banks. Many of these people who are unbanked or counted as ineligible customers of banks are so because they do not have the necessary documents as requested by the banks and there is no collateral because they are poor. Secondly, many of these customers live in remote areas where they cannot have access to banking facilities. Kurecoinhub does not operate with distance and does not need much documents from customers which makes it a perfect option for the unbanked. Since kurecoin is coming from Africa, users all over are sure that the developers understand what they are passing through – Africa being one of the continents with highest numbers of the unbanked and many living on less than $1.25 daily. When users need fiat currencies kurecoinhub offers loans of up to 50% of all cryptocurrencies that is banked on the platform.
Users also get the same experience of a normal fiat bank on Kurecoinhub as the platform helps users to bank their cryptocurrencies and get dividends periodically.
Kurepay offers a wallet that allows users to easily fund their cryptocurrency wallet through their debit or credit cards.
For further information on Kurecoin, you can read:
All image sources from the Whitepaper
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