ASSETSTREAM PROJECT OVERVIEW

BRAINERDPAUL

A new of wave startups believe blockchain can help microfinance deliver on lofty promises.

Billed as a silver bullet that could lift the poor out of poverty since the mid-2000s, microfinance, or the use of small loans to boost the unbanked, has failed to take off for various reasons – namely, a lack of transparency and the existence of middlemen that blockchain is said to eliminate.

“The problem with microfinance is not that it’s a bad model. The problem with microfinance is that the people who put money into microfinance are completely invisible to the people who get the microfinance, and vice versa,” said Ashish Gadnis, CEO of BanQu, a startup seeking to build an economic identity platform on top of the ethereum blockchain.

But while blockchain’s transparency and ability to reduce middlemen have been extensively detailed, I believe in the tech’s ability to help people achieve economic sovereignty when traditional financial institutions still won’t bank them that led to his light-bulb moment.

The global microfinance market is anticipated to witness steady growth over the forecast period (2017 to 2025). This growth can be attributed to the rapid rise in the number of small and medium enterprises (SMEs). Developing markets will drive expansion, a trend expected to continue until (and perhaps beyond) 2022, by which point the IMF expects annual growth for this group to have reached 5%. Here is the deal, i will be letting you on an incredible platform, which is asset split, the team has developed this revolutionary micro finance platform to help replace intermediaries with blockchain technology.

ABOUT ASSETSTREAM

AssetStream’s vision is to create a sustainable microfinance platform based on blockchain technology. Inspired by the “International Year of Microcredit” dedicated by the U.N. back in 2005—and Muhammad Yunus, a Bangladeshi social entrepreneur who was awarded the Nobel Peace Prize jointly with the Grameen Bankin 2006 “for their effortsthrough microcredit to create economic and social development from below”. The AssetStream initiative was established to create a sustainable microfinance platform to enable growth and advocate poverty reduction of the unbanked population while providing an alternative, high-yield, peer-to-peer microfinance platform for everyone. Assetstream want to tokenize the banking and the financial system for ease transaction.

PROBLEMS ASSETSTREAM SEEKS TO SOLVE

The centralized banking system is being control by a body and have a single system. This means if there is a server breakdown, it will affects everyone accounts and business is going to stop.

The centralized financial system require a third party to execute a transaction, which therefore make banks charges people in every transactions being executed through their system.

The financial institute are lacks in many of my area. It is very clear that about 30% of my country population could not have access to the financial institute in their location.

To open an account with many of the financial institutes require some legal documents which many people don't have yet. The process of registering account in financial institutes is very tedious and stressful which has deprived many the zeal of opening an account with the conventional financial institutes.

The centralized banking system does not permit people to withdraw the quantity of their saving fund. They are restricted to withdraw certain limits of your money.

The centralized financial institutes don't offer loans to people wishing to do business except you have enough collateral or you have mouth in the system.

Solution Offered by Assetstream

Assetstream is building a decentralized financial institute that will make people have access to financial services in an ease way. They are building an unbanked ecosystem that will make people manage their account and do a transaction without the involvement of third party. Assetstream is building a financial system that will make people have option to do a peer to peer transaction and have access to loans from the lenders.

In order for the goal of Assetstream to become viable, they are tokenizing the financial institutes to used cryptocurrency. For this reason, the platform has introduced their traditional token termed “AST” which will be utilize on this platform. Any holder of AST token can lend money to another pear users and earn interest from the platform.

ASSETSTREAM has also launched their own token in the platform which will be used in the platform to carry out several activities and rewards payments.

Every credible project always have a roadmap it follows to achieve it's laid out goals, Assetstream is no different:

Token Details

Token Name: AST

Token Supply: 3,300,000,000 AST

Token Issued: 2,100,000,000

Token Price: 0.01 USD

Soft-Cap: 1,440,000 USD

Hard-Cap: 21,000,000 USD