Buying and Selling, which are part of everyday business activities are inevitable in the life of man. With the progression of time and the advent of new technologies, man strives to have means through which these activities can be much easier and faster, irrespective of location. Technology truly makes things easy but if not properly harnessed, it's sole aim might not be achieved. In the light of this, the digital currency has been considered to be one of the utmost means, if not the best way to replace the old ways of the transaction and through which the flow of cash can be made easier.
Financial Institutions all over the world have been trying to devise means through which financial services can be easily accessed. Yet, it is work in progress. A typical example of such is mobile banking, in which businesses and outlets can easily make payments using online platforms, secured gateways apps, bank apps and the likes. However, here comes an amazing and record-making project with huge potential and opportunities, in which anyone in the world has democratized access to financial services. This project is therefore called PNGME.
What is Pngme?
PNGME іѕ a blockchain-based рlаtfоrm thаt еѕtаblіѕhеѕ dіgіtаl buѕіnеѕѕ іdеntіtу аnd rерutаtіоn of MSME (Micro, Small and Medium Enterprises) as аn acceptable сrеdіbіlіtу ѕсоrіng fоr ѕuррlіеrѕ аnd fіnаnсіаl іnѕtіtutіоnѕ. This platform еѕtаblіѕhеѕ thе іdеntіtу оf MSMEѕ аѕ аn ассерtаblе rерutаtіоn іn thе buѕіnеѕѕ есоѕуѕtеm. PNGME also еmрlоуѕ thе dіgіtаl ѕесtоr аѕ a fасіlіtу to enable and enhance this process.
The MSME banking usually is a common process but under Pngme it has been revitalized to bring in an efficient, sustainable, secure and fast way of transaction, getting loans and mobile-to-mobile payments which indicate Pngme is not just about loans it is about safe and secure banking too.
It is no longer a gainsaying that, these days traditional peer to peer lending system can no longer effectively manage the lending marketplace because it has grown beyond its limit. One of the major problems with the traditional lending marketplace its that, its structures are being determined and controlled by the owner of the platform. Which means that its management and control is entirely centralized. However, a centralized method of management can be biased and contain so many odds. In addition, the methods used in checking the credit score is undermined and unrealistic.
Also, the system does the checking and the buyers of the loan or investors have no access or right to checkmate the credit score of the client that wants a loan.
The most interesting thing is that Pngme created an alternative lending platform that increases the flow of capital to markets by giving a digital credit score to individuals and businesses who don’t have access to finance.
Benefits of Using Pngme
Just as earlier said that Pngme provides an alternative lending platform for MSMEs, which invariably increases the flow of capital in form of loan as at a low-interest rate. You might be thinking; what if I am not qualified? Irrespective of what your credit score might be, you are still qualified to be part of the beneficiaries.
Unlike the traditional lending platforms, Pngme gives a loan at an affordable and discounted rate.
The platform has its own indigenous decentralized token (PNG COIN), which is used for every transaction and resultantly gives value to the token.
Your membership can be obtained and secured through the token.
Collaterals on Pngme platform are either traditional or digital assets which give the advantage of lowering the risk of the borrower.
Pngme helps lenders to determine the level they are exposed to risk and keeps them in check.
How will the Pngme system survive?
The mission of Pngme is to bring to a closure of the $5.2 trillion dollar finance gap that affects 200 million MSMEs globally. This will foster sustainable economic growth from the base of the financial pyramid increasing opportunity and quality of life, through fintech.
With the measures put in place as regards credit score through using IPFS to store a users credit risk data. Credit risk metadata is a pretty significant component of Pngme platform and technology. That is where the main focus of the project lies.
The platform will be a globalized system, which comes with many features, such as credit scores, piggy bank, and marketplace lending because the most appealing part of it will be the ability to be accessed by just about anyone anywhere across the globe. With the many challenges faced by credit and loan applicators, the Pngme project presents a timely and much-needed solution.
With Pngme platform, you get to have your very own Pngme piggy bank account where you can earn interest on the money saved in it. Pngme is not a mobile bank, it does not have a non-custodial mobile wallet and does not hold customer balances. The piggy banking, simply denote the ability to pay returns depending on how much you save in wallet. The more you save, the more interest you earn., which is an interesting feature.
Pngcoin is the indigenous coin of this platform. Also, the platform can save Pngcoin which can generate savings interest like you save at a bank and many other features such as access to cellular payments at low cost, access to borrowing and borrowing activities, credit scores on your account portfolio, to competitive capital markets and so on.
Pngme has a team of many years of experience in the crypto market, and there's a very clear roadmap carefully designed by the team and they are doing everything [possible to ensure that every of their words, particularly the promises and announcements made, some to reality. That is integrity for you.
Pngme is all the MSMEs needs. It is undoubtedly the most excellent project on the market. With Pngme , it's a boom for MSMEs, because the system works with a licensed custodian to hold customer funds, which makes it a system of high reputation. Pngme is, therefore, coming to redefine the future.
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