With a record of 139 million clients and a credit weight of over $110 billion only as at 2017, It remains clear that microfinance has solidified its place among the leading teams driving financial inclusion of the marginalized populations. It is interesting to note that blockchain integration for the financial institution does not exclude the microfinance sector.
On a global scale, the microfinance market has witnessed steady growth and this growth is such to last for about two decades from 2017-2025. more of the reason for this promised growth is due to the rise in the number of SMEs. It is certain that developing markets will drive massive expansion, and this trend will continue for as long as possible until the annual growth for this group is 5% and above.
Interestingly, blockchain is painstakingly making its way to different communities and is seeking to engage approximately 1.7 billion people who are currently unbanked and are in the production sector of the economy. Microfinance is currently doing this by making funds available to the SMEs.
Currently, AssestStream is a microfinance project built on the blockchain and it caters for the creation of trust between the lenders and the borrowers alike.
AssetStream Token is bound to be Mainstream
Microfinance, as a major player in the financial industry, takes pride in playing an active role in the global movement against poverty. AssetStream taps into an attractive and really underserved market opportunity and intersects with their specialized expertise by simply maximizing social and financial performance and helping to keep alive the focus on low-income clients which it was created to serve.
Plans are in place to extent AssetStream’s hand of fellowship to others outside lenders and borrowers- to include agencies which are open to partnering up with it.
Its proposed source of generating funds will be from its AST Token.
Moreso, AssestStream hopes to stabilize its AST tokens within the AssetStream ecosystem as a U.S stable coin valued at 0.01 USD. This is aimed at promoting stability. Likewise, on external platforms, AST prices will be subject to fair market value reflected on third-party exchanges.
The platform hopes to create its own rating criteria and this will be categorized into personal and business loans.
It provides for learners to skim through the platform and manually select loan contracts they would be comfortable with, or opt for automatic through AssetStream autonomous matching system.
The competition here is such that investors can expect small businesses to operate in a way and structure that maximizes the achievement of both financial and social returns. These help in the alleviation of poverty and increase the economic opportunities for the poor.
Quite obviously microfinance places a supportive role in the fight against poverty and on the journey to an improved Standard of living, there is a healthy competition that needs to be welcomed in areas like health, education, infrastructure, market access, and a functioning and responsive government.
Blockchain in microfinance can facilitate this- leading to the betterment of lives from all around the world.
What’s On the Horizon
Small scale producers who are poorly equipped with the best tools for their businesses will record a minimum of 10% increase in their output but interestingly, this is guaranteed with access to our provisions and helping them secure these tools, would suffice as our little contribution.
Max Property Group (MPG) an international property investment company, very recently signed an MOU with AssetStream. Max Crowdfund is a subsidiary of the mother company and a crowdfunding platform that synergizes with AssetStream to provide numerous communities with them to support the integration of their blockchain platforms.
Having onboard English Forward- an English platform with 250+ million members via an MOU with AssetStream now makes available microfinance resources for its teachers and learners community.
In conclusion, AssetStream updated her community that her beta platform is live and ready. the platform is built on the blockchain and all transactions are carried out on the blockchain.
Check the website for more information.
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Disclaimer: The statements, views, and opinions expressed in this column are solely those of the author and do not necessarily represent those of CryptoTv Plus.
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