27 Sep CrowdForce Selects FLASHcoin to enable Fast and Low Cost Remittances across Africa.
FOR IMMEDIATE RELEASE
CrowdForce Selects FLASHcoin to enable Fast and Low Cost Remittances across Africa.
CrowdForce announced today that it has selected FLASHcoin (cryptoticker: FLASH) to power its rapidly growing remittance business. CrowdForce provides a network of trusted local merchants in communities across Africa who will serve as “human ATMs” and provide liquidity for FLASHcoin users to exchange their FLASH with local currencies. This partnership instantly gives the FLASHcoin community access to 7,000 OTC merchants with a target to scale to 1 million merchants across Africa after the CrowdForce token sale is completed. CrowdForce also expects to integrate the FLASHcoin API and wallet technology into its app. Tomi Ayorinde, CrowdForce CEO said, “Low cost payments are key to blockchain adoption in emerging markets. The FLASHcoin community have a solution that’s fast, easy and low cost. It’s perfect for Majority World countries, that are rapidly growing and this is why we selected it.”
Today, 3 billion people mostly in emerging markets are unbanked or underbanked; we call this the Majority World because it’s most of humanity. Another huge percentage do not use their Debit Cards online and worry about the huge cost of bank transactions and remittances, which can exceed 20%.
Today, people transact through trusted retail outlets (micro-businesses) in their community, resulting in 94% of transactions being done in cash. According to the World Bank, these micro businesses do over $19 trillion dollars per year globally in cash. There is huge potential for high volume and low margin transactions in emerging markets and an opportunity to make the world a better place by achieving 100% inclusion of these people in the digital economy.
The FLASHcoin Community
FLASH is a leading community coin protocol based on Bitcoin and Litecoin technology, optimized for ease of use, speed and throughput. FLASH is designed to be the “Majority World Coin” because it is a community entirely run by volunteers from all over the world and it focuses on only one thing: settlement. It is run by and for the community with a foundation in Liechtenstein (Third Millennium Foundation for Economics and Culture). The FLASH blockchain and wallet system are designed to meet the needs of rapidly growing Majority World countries. The wallet supports 26 languages, 5 Cryptocurrencies + 66 tokens = 71 Crypto Currencies and 32 national (fiat) currency prices.
FLASH community member Jamesjr commented: “I traveled to Africa to meet the people and see what our community could do to help. Africans are optimistic about the future and they really appreciated the FLASHcoin features and especially the community share model we have developed, it’s a perfect fit.”
Emerging markets in the Majority World do not have the luxury of years and billions of dollars required to catch up with the infrastructures that have been put in place in developed countries. What Africa needs are tiny collections of humans and devices spread out across its countries building trust and working together in a collaborative manner to bring everyone to the digital economy. Building from within the traditional community structures using community powered cryptocurrencies will be the best way to build a robust economy and bring prosperity to Africa. This partnership brings us closer to this dream.
More information about FLASHcoin and the FLASH community can be found at flashcoin.io