An estimated two billion people remain unbanked globally with no access to basic financial services. Providing financial services to these people has been identified as the key component in the movement required to advance the elimination of world poverty. Using blockchain technology, FinTech companies have been grinding away (to varying degrees of success) to reinvent banking services and eliminate entry barriers. One problem, however, continues to hold them back; this problem is liquidity.
Cryptocurrencies have exploded into the mainstream. Pioneered by Bitcoin, cryptocurrencies are transforming financial landscapes and the concept of money. However, real-world usage of these digital assets remains limited, especially when it comes to paying for services. Most merchants remain wary of cryptocurrencies, and those who actually venture to accept them must tackle the process of deciding which cryptocurrencies to integrate – alienating users of other cryptocurrencies and limiting their potential market.
At present, cryptocurrencies are merely being viewed as vehicles for speculation, while cash and credit card remains king when it comes to functionality and physical use. Denaro is the solution that addresses this problem.
Denaro is a multi-currency debit card platform that enables users to access, store, and spend their cryptocurrencies like any other debit card. We have designed and developed a blockchain-based platform where users can seamlessly utilize their cryptos for their daily activities. Through payment terminals for merchants, IBAN numbers, and API/SCI functions, Denaro will seamlessly bridge the gap between the crypto community and the traditional financial structure (and user) in the future of monetary payments.