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RE: Microfinance: Challenges and Possible Solutions
@dcrpto great job. I am from Nigeria and I know how difficult it is to get loan from bank aside from collateral, the interest rate is too much, if only developing county can key into blockchain technology fast this will solve our banking problem and we will develop fast
I am a Nigerian too, I worked in MaxiTrust Micro Finance Bank Port Harcourt as a Branch Accountant. I can honestly attest to the fact that we lend at a high interest rate , most times also the incidence of customers default is also alarmingly high to the extent that the Banks has to make adequate provisions for loan recovery expenses.
Bottom line , I think Block chain technology and Steem has a pivot role to play in the industry. I dont mind being a volunteer to this course of affirmative action to bring blockchain knowlegde to the ignorant Nigerian masses as it will go a long way towards increasing our income per capita and also creating a more rubust economy where transparency , prudence and effectiveness reigns.