It’s a common understanding that financial inclusion plays an important role in economic development and growth, poverty reduction, job creation, innovation and infrastructure. Financial exclusion was defined as “a process whereby people encounter difficulties accessing and/or using financial services and products in the mainstream market that are appropriate to their needs and enable them to lead a normal social life in the society in which they belong”. According to World Bank the unbanked population in 2014 was 2 billion people – nearly one in three. The 2014 Global Findex database of the World Bank shows that, globally, 38% of adults remain unbanked for a range of psychological, cultural and educational reasons – but also due to the lack of interest in this segment from traditional financial institutions (banks).
What is Global Pay Net?
Global Pay Net is an international financial platform that is based on the Blockchain technology. The company has been developing a unified service that allows each of its users to invest their money at interest, take out a loan, exchange funds and cryptocurrencies, keep their savings at a profit, and pay for goods or services using their own GLPN wallet.
An absence of financial education, lack of awareness about financial services, unaffordable products, high transaction costs, paper work involved, travel distances, post-2009 distrust in the banking system – all these factors contribute to financial exclusion. Migrants could use modern payment instruments but because of poverty, low income and unstable employment they are forced to mange with cash. Migrants have problems to store money securely and that’s why they usually carry cash.
Globay Pay Net is a wholesome ecosystem for the unbanked, starting with the migrants and their families back home. The ecosystem not only revolves around financial inclusion but also bringing together communities at the grassroots level, solving real-life issues faced by this population and using the most advanced technology to bring everyone together. The base of this ecosystem is the GLPN Wallet platform. By creating a whole new peer-to-peer ecosystem, Global Pay Net aims to revolutionize the way individuals, small businesses and micro-entrepreneurs transact, make payments, borrow money and associated products like insurances, domestic and Cross-Border remittances, cards and other general banking products. It eliminates the need for intermediaries, which drastically reduces settlement time and creates efficiencies. Storing transactions on Blockchain eliminates complicated procedures and clearinghouses, saving time, money and the risk of error. The allowance of frictionless savings and investment gives people more control over their financial destiny.
What is new?
Global Pay Net user convert a wide range of Blockchain assets such as GPN, BTC, ETH and DASH by simply using his GPN Wallet, which has an inbuilt exchange mechanism. If the user is not crypto savvy, they can also choose to store the currency in local Fiat and not use crypto at all, giving freedom to the user and bridging the old world to the new. GPN Wallet, GPN ID and GPN Token are the central pieces to the GPN World ecosystem. GPN Wallet allows seamless onboarding, GPN ID creates verification, AML / KYC and GPN Token provides the single mechanism for users, partners, money transfer agents/ operators, to make quick transfers within communities domestically as well as cross border.
The coins are sold only for 0.09 USD each during the current Pre-Sale ICO stage.
500,000 coins are available for purchase for investors and participants at the initial stage. This makes 10 % of the overall amount ready for emission. Five more million coins will be issued during the full-scale ICO stage, and one coin will cost 0.9 USD.
The Global Pay Net Company develops its own Blockchain project in the financial sector.Analysts, traders and software developers from all over the world develop this blockchain-based financial platform.Its headquarters are located in the USA. Please note that the company provides multiple opportunities for cooperation.
GPN World is an Ecosystem of real life partnerships with governments, NGO’s, local communities and an integration of biometrics, blockchain and distributed ledger technology that aims towards financial inclusion of the unbanked into the system, facilitating their access to basic financial services.Engaging everyone, especially the unbanked population in the electronic financesystem via Blockchain, will raise incomes of the poor and also improve health care and education systems. GPN means being happy and that is truly what the team wants to achieve with this project – financial freedom, financial happiness, and financial accessibility to over 2 billion unbanked and underserved. If you want to become an active part of this vision or to find more information about the project, access their website and read the white paper for the detailed project.