HashCash collaborates with DeFi startup to develop a micro-loan platform for women entrepreneurs | News
HashCash is set to become part of a DeFi project that transfers funds to women business owners from Morocco.
PALO ALTO, Calif., March 25, 2022 /PRNewswire-PRWeb/ — Global Blockchain Development Company HashCash Consultants is proud to announce a collaboration with a DeFi startup in a project that aims to make micro-loans available to women entrepreneurs in Morocco.
The blockchain-powered platform will transfer funds to women who are registered with their verified certificate digital identities. The platform enables pool borrowing in which lenders provide liquidity to a pool that borrowers can avail.
“In such an application, smart contracts take over financial institutions that have traditionally acted as guarantors for such transactions,” noted Raj Chowdhuryfounder and CEO of HashCash Consultants.
When asked to describe how the smart contracts will perform, explains Chowdhury, “A contract will be drawn up, which will pay an allowance from lender account A to beneficiary account B, say, every Friday until the beneficiary account has received the required amount.”
No one can change the account address to account C to steal the funds, because no one can tamper with the smart contract while it is online. Additionally, funds are transferred periodically only until the stipulated amount is fully disbursed.
The DeFi startup caused a stir among North African countries by inviting female investors from Europe and the Middle East. The project could be extended in the future to function as a DAO.
On the development side, HashCash has announced its participation in creation of a consortium for a global digital media brand. The company has also affirmed its contribution to pushing the growth of crypto in the UAE. HashCash chief Raj Chowdhury has previously predicted a rocky schedule for generation Z in the Metaverse.
This project is important for both partners because it mainly aims to promote women in entrepreneurial roles. Its success will lay the foundation for many such ventures in the decentralized space. The project responds to the double objective of the organization. “First, it promotes entrepreneurial ventures in economically challenged regions. At the same time, it empowers women with business ideas to realize their visions while bypassing the bureaucracy imposed by financial institutions,” Chowdhury summarizes.
HashCash is a global software company. HashCash Blockchain products allow businesses to move assets and settle payments across borders in real time for remittances, trade finance, payment processing, and more. HashCash operates a US-based digital asset exchange, PayBito & digital asset payment processor, BillBitcoins. HashCash offers exchange and payment processing software solutions, ICO services and custom use cases. HashCash powers technological advancements through Blockchain1o1 programs and its investment arm, Satoshi Angels. HashCash offers solutions in AI, Big Data and IoT through its platforms, products and services. HashCash solves the toughest challenges by executing innovative digital transformation strategies for customers around the world.
COLEEN F, Hashcash Digest, +14159662907, [email protected]