Blockchain technology has really come far over the last decade to create unified, robust, and more dynamic approaches to doing things. The network that had hitherto received the knocks many years ago is now the darling of many and is already gaining tractions in the sectors that had lambasted it. Such is the tremendous impact that is exclusive to the blockchain technology, and the Pngme platform is here to take the notch higher.
WHAT IS PNGME?
You may be familiar with the regular debut of blockchain and even cryptocurrency projects via the media of Initial Coin/Currency Offerings (ICOs). The Pngme platform is similar to that, but the most outstanding feature is the concentration on the financial sector.
It’s no news that the global financial sector had been battling from different ends, since the global financial crises, aka global recession over a decade ago. With the advent of blockchain technology and the underlying digital assets (cryptocurrencies), it has been a season of surprises for the financial industry. Now, the delegation of the Pngme platform to that end is to enhance the activities of the end-users. More so, it aims at expanding the lending and borrowing atmosphere in a way that the interests of all the parties concerned are covered.
PNGME – THE ALTERNATIVE LENDING PLATFORM
The concentration of the Pngme platform is on the emerging markets where the startups and the financial institutions have been having a hard time accessing capitals. With the blockchain infrastructure introduced by this project, it would be easier to gain such financial instruments.
HOW DOES IT WORK?
If Pngme is out to create an alternative approach to lending, then how is the expected model to work on the blockchain network? Outlined below are some of the ways the Pngme platform would work.
• The Decentralized Marketplace Lending
The institution on blockchain technology is the primary basis of the platform’s enablement of decentralized loans. Besides, it has created a highly competitive and diversified lending marketplace that covers many of the sectors that were affected by the traditional variation.
Micro, Small, and Medium Enterprises (MSMEs), MFIs, Digital Hedge Funds, and Mobile Money Networks are some of the aspects covered by the decentralized lending marketplace of the Pngme platform.
The opening it creates is designed in a way that the categories as mentioned above of borrowers can gain access to the digital asset-backed capital market.
• Hybrid Credit Score
As you may have known, credit scores are one of the tools that affirm the qualification of a borrower. So, if you have a low or bad credit score in the traditional lending marketplace, then you can be sure your loan requests would be turned down.
On the contrary, in the decentralized lending marketplace created by Pngme, borrowers needn’t have a formal credit score to access any financial instrument. Instead, the network of Mobile Money Networks and the MFIs on the platform take advantage of the lending marketplace and the dedicated Pngme mobile application to manage the operations of the customers, while triggering the reduction of costs associated with credit scores.
Final Words
Over 200 million Micro, Small, and Medium Enterprises (MSMEs) haven’t been able to function effectively because of limited capital. In the same regard, there is a gap of over 5.2 trillion USD, which is a considerable amount of money to be left on the table because of the difficulty in accessing capitals in the emerging markets.
Therefore, the birthing of the Pngme decentralized lending platform is a movement that could usher in more access to financial instruments/loans to the emerging market.
USEFUL LINKS
Website: https://pngme.com/
Whitepaper: https://docsend.com/view/x4ts5tm
Telegram: https://t.me/pngmecommunity
Twitter: https://twitter.com/pngmemobile
Facebook profile: https://www.facebook.com/pngme
AUTHORS DETAILS
Bitcointalk username- Corer
Bitcointalk profile link- https://bitcointalk.org/index.php?action=profile;u=2373697