Cashaa is a company founded in 2016 that has built an innovative banking platform that allows anyone, with or without a traditional bank account, to exchange and transfer money and crypto emergency. Cashaa has developed a beta version and tested its solution with 12,770 users in 141 countries with transactions worth $ 10 million dollars.
The company will enable banks for billions that do not have global returns, provide banking services such as money transfers, remittances, micro loans and peer insurance into the future to billions that are not eligible for traditional banking services now. These ambitious banking services will be built entirely in the blockchain and judging by their beta test, there is strong demand for these blockchain banking services primarily remittance services. What Cashaa developed is a solution that will take advantage of crypto liquidity amongst crypto traders in the background.
How Does Cashaa Work?
In short, Cashaa bridges the forex market with the cryptocurrency market by matching fiat senders and cryptocurrency traders. The payments platform enables people to send money all over the world with a fixed low fee of $1.
Let’s say for example, you want to transfer money for remittance from the U.K. to India. You would be trading your British Pounds for Indian Rupee.
The way Cashaa’s platform works is by matching your request with a cryptocurrency trader that wants to sell bitcoins in exchange for British Pounds. The platform will then find another trader in India that wants to buy the bitcoins and pay for it in Indian Rupees. The Rupee goes to your intended receiver.
This creates an ideal win-win situation for cash senders and cryptocurrency traders. The cryptocurrency traders are happy because they have access to higher liquidity and more trading opportunities. On the other hand, cash senders are happy because crypto traders are competing for their money. And best of all, their money gets sent to their intended destination without the unreasonably high transfer fee.
According to Kumar, this innovative method can bring the power of cryptocurrency to over 99% of the world who don’t know a single thing about cryptocurrency or blockchain. And because this is all powered by smart contracts, there is no hassle of dealing with traditional crypto exchanges and wallets or fear of getting scammed.
For more information on how Cashaa works, you can visit their white paper here.
Cashaa Also Has a Working Ecosystem Arrangement That is:
First , CAS konek: Initial stage where each participant to pass, here KYC checked whether completed from email verification and phone number. users must pass a rigorous inspection and must follow a tiered KYC structure involving OFAC, AML and other guidelines varying from country to country, making transactions secure.
Second , CAS net: Here allows self-aware blocked contracts assisted by agents for a decentralized peer-to-peer (P2P) economy and will have a matching machine and system to determine Cashaa Limited’s fees, margins and bonuses.
Third , CASFabric: The core component for decentralized exchange with messaging network clearinghouse, fraud prevention, clock synchronization between participants and the mechanism of liquidity providers. Disin allows the admin tool to ask the admin of the user to add new cryptocurrencies, markets, fiat and fiat and make partner merchant contracts in minutes for scale solutions, based on industry adoption and maturity.
Fourth , CASChain: Here stage where the network can be operated and cryptocurrency neutral, which can eventually operate via digital currency or tokens that traders like, Bitcoin, Ether, Ripple, NEO or ERC-20 compliant token.
Last , CASFiat: Here will be integrated with the banking system that combines cash instruments in various currencies in the network
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Vision Cashaa
We believe there should be an efficient alternative to existing payment and banking systems. Our
blockchain-based payments system aims to lower financial inclusion barriers and provide financial services to the banked and unbanked. Our vision is to build the payments and banking infrastructure for the future on a robust AI driven blockchain infrastructure which can make the legacy system obsolete, thus creating value for the world. Cashaa is based on 4 foundational principles:
Powering financial products for the Banked and Unbanked
Facilitating low-cost Currency Exchanges
Enabling Investments in the Global Economy
Dedicated to the Community with an Open API
Products Cashaa
As a product-driven company our focus is to solve the problems using disruptive technologies to create products and services for simple and easy use. At Cashaa we work to build the next generation of consumer-centric payments and banking products on target to be the most cost-effective and innovative available on the market.
- Wallets
- Micro Lending
- Peer-to-peer exchange (Beta Tested
- Peer to Peer Insurance (Future)
Remittance & Trading
Token Distribution
Cashaa Tokens and Token Generation Even
- Token Functionality
- Benefits of CAS token
- Acquiring tokens
- Spending tokens
- Membership
- Microfinance & Credit Score
- Trading
- Governance mechanism
- Token Summary
Roadmap
Fast forward to 2017 Q4 and their roadmap looks poised to achieve mass adoption in a quick manner.
Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency – the system works without a central repository or single administrator. neo online wallet
Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency – the system works without a central repository or single administrator.
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