Suppose you are in Singapore for vacation and unfortunately, you lose your wallet. Now what will you do? Of all possible options, the most common one would be asking your friends and family to transfer a certain amount in your bank. Most probably, they will use a third-party platform like “Western Union” or “PayPal” to transform the money. Abruptly, you realize that the third-party platform has charged around 7-8% transfer fees of total amount. Yes, that’s exhausting!! But do we have any other option? Cashaa has the answer.
What is Cashaa?
It is a peer-to-peer payment and remittances startup that gives access to customer-centric and reasonable financial products. The aim is to build payment and banking infrastructure for everyone, who doesn’t even understand the technical details of Blockchain technology. Basically, Cashaa’s wallet system offers streamlined experience for users in a legally compliant way.
It is a next generation model for financial services which is based on Blockchain technology and artificial intelligence that delivers digitalized and unbiased services. Further, this platform enables investments in the global economy in decentralized manner. Allows transfer of value across borders permitting greater portfolio diversification with higher yields and provides financial aid to mobile users using alternative credit assessment.
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Auxledger is an enterprise-grade blockchain arrangement that presently powers tons of applications to state governments of India. Cashaa runs on same infrastructure. They help organizations to swiftly install a Blockchain network and shape their business. London-based Cashaa, is currently planning to deal with banking institutions to introduce a white label mobile-first product in India. It would be based on blockchain technology that would digitize numerous manual functions in the banking system.
How It Works?
Now when you have already lost your wallet and have asked your family or friends to transfer the amount, then why not use Cashaa? At this platform, when you send a request to transfer $1000 from London to Singapore, Cashaa calculates the best possible rates using FX and proprietary algorithm. After calculating the rates, Cashaa instantly divides the lead into two parts where all crypto traders in Singapore are informed about the amount.
Similarly, buyers will have options to buy $1000 by paying the calculated rate. The system produces two passcodes to be used by money sender and seller in London at one-hand & buyer and receiver in Singapore on other hand to authenticate themselves respectively.
Uses of CAS Token
- Gateway to first-class services such as ATM withdrawals, FX transfer limit and transfer and exchange of unlimited money.
- Traders with sufficient CAS can only take part in the trading network and are permitted to generate smart contracts for trading.
- Token holders can give loans. Also, they have access to instant loans at much lower interest rates in comparison to non-token holders.
- Another goal of the CAS token is to govern voting system, where stakeholders will be able to govern the smart contract updates
- The stocking of CAS tokens augments credit scores for individuals as well as small businesses.
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Cashaa features among ‘Top 100 Most Influential Blockchain Companies in the world’ and is planning to build ‘The next generation banking platform for the next billion’. This system will allow millions of banked and unbanked users to access the financial services. Well, this was all about Cashaa, if you have anything to share, please comment in the section below.