Finance is undoubted, essential in the daily affairs of different classes of people. With the majority of global transactions depending on different kinds of funds, such as loans, it goes to show that more improvements should be made to cater to the needs of every involved party. Credit, on the one hand, is one of the financial instruments used by many individuals to fund a project. But, with the decline and the high-interest rates that are tenable in the conventional setting, it became imperative to have a robust option to that end.
In light of that, the PngMe project just launched on the Distributed Ledger Technology (DLT) to constitute a suitable framework for the evolution of finance through the network. So, read further to discover all there is to the project.
What is PngMe?
PngMe is a blockchain-based project that creates innovative financial inclusion for the different categories of individuals and companies that have been shortchanged in the regular financial framework. More so, the core scope or area of concentration is on the Micro, Small and Medium Enterprises (MSMEs) that is the worst hit by the inordinate monopoly in the global financial system. Ideally, the quest for loans would be facilitated faster than the traditional format, courtesy of the MSME banking postulation.
On the other hand, the project generally creates an enabling environment for businesses of all levels to thrive. That is achieved through the global marketplace it created, and which would be facilitated on the premise of its mobile finance platform.
Unearthing the Borderless Payment Platform by PngMe
As earlier mentioned, PngMe is looking at enabling a global ecosystem on the blockchain, through which financial transactions can be facilitated in real-time. At the core of all that is the institution of mobile banking that enables the use of mobile applications (supported for Android and iOS devices) to initiate financial transactions.
The first feature on the platform is the Marketplace Lending, where MSMEs can seek and get approved for loans. It’s worth mentioning that the formulation is different from the traditional formats because aside from the utilization of Financial Technology (FinTech) for the functionalities, PngMe also brings financial institutions/lenders and the borrowers/beneficiaries together in the ecosystem. Borrowers are confident of getting loans at lower interest rates.
The second feature it offers is the Piggy Bank, where users can save funds while getting specific interests accruable to the savings.
Third and most important is the Mobile Payment feature that highlights the overall aim of PngMe to institute borderless financial remissions for the emerging markets. The payment platform empowers users to engage in everyday payments all from their mobile devices. Also, it is possible to generate the credit score of the users using the built-in algorithm that checks the transactions of the users to generate their credit score ahead of their accessing loans and other kinds of funding on the platform.
The Role of the PngCoin
As is typical with many cryptocurrency and blockchain-based projects, there is always the issuance of crypto tokens, which serve as the built-in currency for such projects. PngMe doesn’t take a back seat in that regard because it has the native crypto coin, Pngcoin, which goes with the ticker, PNG.
The roles of the PNG tokens are to enable transactions and payments within the PngMe ecosystem while allowing the users to receive incentives when they refer others to the platform. Above all, the token enables the holders to receive discounts or free services within the PngMe ecosystem.
Final Words
Blockchain and cryptocurrencies are an inseparable pair. The launch of the PngMe platform is a dedicated attempt to improve the lots of Micro, Small and Medium Enterprises (MSMEs), and indeed, any other party that is looking for finance to start up a business.
Above all, the platform has created a mobile finance platform buoyed by blockchain, mobile apps, and crypt tokens. The trio would, in the future, help in the quest for innovative financial inclusion for every participant in the global financial system.
To get more updates about this remarkable project, visit the URLs below
🌐 Pngme website
💬Pngme Telegram Chat
🐧Pngme Twitter
🗺Pngme Facebook
📄Pngme Medium
🔖Pngme Instagram
🐇Pngme Reddit
🏔LinkedIn
🎬Pngme YouTube
📣Pngme BitcoinTalk ANN
writer's info
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