THE BEST CRYPTOCURENCY FOR AFRICA- TERRA CREDIT.

wisdomcity (27)in #terra • 4 years ago (edited)

I have to take my time to study Terra credits’ whitepaper and comparing them to other projects that are going to resolve the problem of unbank money in our society. I really noted that credit is unique and has an understanding of what we are really going through. Many people avoid conventional banking not because they don’t have in mind to save money or making transactions through them but because some in Africa and Asia village don’t have access to banking. Many of these unbank funds owners have a smartphone and by using Terra credit’s app they can easily make transactions with almost no fees attached to it.

Why terra is better than other cryptocurrencies.
Bitcoin which is the first decentralized financial system has impressed people all over the world but because of the mining process, many people that desire to invest in it find it extremely expensive and unprofitable because of the equipment and electricity demand before mining it but with credit using proof of stake in making consensus algorithm one can easily increase his or her capital by just investing a very little amount of money.
I am from Africa, Nigeria in particular and we are seriously finding it very difficult to do international transactions using banking and other financial systems, and that have affected many of us that have an interest in online investment. Bitcoin and some of the popular cryptocurrencies have really helped in solving this problem we are facing but in the area of mining, our people are lacking behind because of mining equipment and dilapidated electricity. I believe that credits through their staking platform have come to provide for us an opportunity to invest in the form of stake and get reward in the form of coin ,credit wallet automatically produce the coins for you.
It is also through experience that many communities and villages in Africa do not have a banking facility and that means the unbank fund is not well controlled and utilize. Credit is targeting this large market. Many people have no cryptocurrency wallets but by credit, it will become easy for them. The benefits of credit to Africa are enormous and I strongly believe that if Africa can adopt and use the credit platform we would seriously overcome most of the financial challenges we are having. People will gain more from Little investment in credit stake and that is going to keep many of our youth busy that their may not think of crime and criminality.
Terra foundation the developer of Terra credit has in mind to encourage the world populace to adopt cryptocurrency as a mode of payment for goods and services for unbanked. The only way bitcoin and other cryptocurrencies can be used on a daily base for payment in form of cash without a third party involvement. That is when small business, institutions, and industry including school began to use it like cash and currently, we are seeing many people and institutions announced setting up a committee to study blockchain and cryptocurrency in a way of adopting it into their system, credit targeting this large group of unbanked and desire to use a new system for financial transactions made terra foundation one of the leading promoters of cryptocurrency adoptions for the world populace terra credit is developing a payment app that made things easier for them and in turn create adoption.
Conclusion:
Africa is currently facing a lot of financial crisis and this financial crisis arises from the domination of major currency over the local currencies. The trading imbalance has push many African into poverty and the only way this problem can be solved is through fair financial system that create equal value no matter the geographical location! Credit is aiming of resolved this problem since credit is targeting unbank and also a global payment system with higher speed, secured, decentralized, and with almost no fees, I think if it can be adopted we in no time will start to see development in our society. Poverty strive were there is no equality in the financial services and that is what blockchain is developed to solve. Terra Foundation is ready to help make money for those that have the desire for investment and made international transactions easier with almost no fees.