Home » Case Studies » Atlas uses blockchain technology to provide mobile banking for the emerging markets
Atlas uses blockchain technology to provide mobile banking for the emerging markets
Country: USA Year: 2014
Atlas is launching a mobile peer-to-peer application to give access to communities in the developing world access to savings and credit through a decentralised solution built on blockchain technology
The rise of mobile penetration in developing countries with mobile payments, bypassing traditional financial infrastructures has resulted in the rise of microfinance and mobile solutions for the general public
The app aims to create a network of people from local communities, which in turn will create and grow trust whilst boosting financial inclusion
In addition, access to capital through savings accounts and loans are offered through the Atlas platform
The blockchain shows proof of origin for the money and all transactions, ensuring users know exactly where their money is and the latest transactions on their account
Atlas also has a second project, Atlas Labs, which is a blockchain innovation hub, to conceive and construct infrastructure for new solutions
Financial inclusion: for rural populations that are far from their nearest bank or the un or underbanked
Transparency: users can see all transactions which are immutable (cannot be altered or deleted)
Mobile: the solution is adapted to populations with high mobile penetration
How To Use
Currently, under development, interested users can contact Atlas for more information through their site to find out release dates
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