Could cryptocurrency be a solution to help people out of poverty?
Today, the world is richer than it has ever been, this wealth is, however, not spread equally among people or countries. Some countries, generally the western countries, are much richer than other parts of the world. More than 4.3 billion people in the world live on less than $2.5 a day, something most people from western countries probably didn’t know. One of the reasons why it’s hard for developing countries to get out of poverty is because they lack a sufficient financial system. Almost everyone in the western world has a bank account, but more than 2 billion people worldwide, don’t have one. This makes them unable to take loans, or do other financial activities which are essential to a healthy financial life. A project by the name of World Peace Coin has set out on a mission to help diminish this issue. By deploying their own cryptocurrency, the WPC coin, they hope that more people will get more opportunities in their financial life. The WPC coin can be used for fast, low cost, transparent and secure transactions that can even be done on a worldwide scale with ease. World Peace Coin also comes with other features in order to help citizens from developing countries with their financial situation.
Beyond a cryptocurrency for payments
Establishing more convenient and reliable transactions is not the only thing World Peace Coin has plans to do. They are also offering a range of financial tools including a credit scoring calculator which is based on AI technology to make the most accurate decision regarding an individual’s credit score. This is done in order to make people eligible to take a loan, which creates a lot of opportunities for one’s financial life. You might wonder, how will the people that don’t have a bank account even access World Peace Coin’s services and cryptocurrency? Even though you might think that more people in the world have a bank account than a phone, that’s actually not the case. Almost everyone in developing countries has a smartphone which essentially works as their lifeline, on this smartphone, they will be able to access the World Peace Coin app. This app will feature all the tools they need to use the WPC coin and their services. World Peace Coin is as earlier mentioned dedicated to helping developing countries, which is why 10% of the total supply of WPC will be donated to developing countries. WPC both has a proof of work system, but also operates with a proof of lending system in which users can lend WPC to those in need and in return earn interest. See graphic below
To fund their project, World Peace Coin is raising funds through an initial coin offering (ICO), selling their coin WPC. WPC is the cryptocurrency that will be launched by the World Peace Coin as described above.
The token sale started on the 25th of March
The token sale ends the 23rd of May
1 WPC = 0.27 USD (Bonuses are available for different phases, see chart below)
- Maximum amount of tokens minted is 2,500,000,000 WPC
- A maximum of 375,000,000 WPC will be for sale during the ICO
If you find this project interesting and wish to learn more about it or their token sale, you can visit the following links below and read their whitepaper. To keep yourself up to date on the project, you can follow their social media accounts also linked below.
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