It is absolutely crazy even to say that this is 2018 and there are still 2.5 billion people in the world that cannot use banks, open a savings account, or get approval for the use of a credit card. So, 33 percent, or one in three people, of the world population are being left out of the best game in town where they can buy and sell anything and everything from anyone anywhere in the world. Digital currency is rapidly becoming the most popular way to exchange money in the world and for people to take full advantage of this new medium of commerce; they will need a digital “bank” like WANChain to turn to for security and universal interconnectivity between all cryptocurrencies. The definition of a bank is a financial establishment that invests money deposited by customers, pays it out when required, makes loans at interest, and exchanges currency. WANChain will provide all these functions of a traditional bank, while also aiming to design a new decentralized financial infrastructure that allows the exchange of value among different blockchain networks.
Many people have asked me “What is blockchain?” Blockchain is a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly. So, blockchain is the digital book used in cryptocurrencies to keep track of where all the money is going and where it came from. Traditional banks like Bank of America, Wells Fargo, and Chase will, of course, hold on as long as they can to their archaic methods, but in the end they will all conform or be assimilated into the financial services collective just like the Borg from Star Trek assimilates all forms of life into “the Hive.”
The total market value for digital currency has surpassed $500 billion in a short period of time, so the natural evolution of a monetary element is to eventually need a place to call home, and WANChain is a great digital real estate option for this popular new tenant in the global economy. It’s also worth noting that WANChain has its own cryptocurrency WANCoin, which is the native coin for “WANChain Savings and Loan.”
The final point I wanted to touch on concerning WANChain is its decentralized financial infrastructure. This fosters efficiency, which is essential for growth oriented businesses or concepts like digital currency. Empowerment, relief of burden on trivial matters, and elimination of unnecessary “red tape” are all thoughts that come to mind when I read the white paper on WANChain’s business plan. This allows for a much friendlier environment for expansion and cuts back on needless expenses, such as middlemen and administrators.
In conclusion, WANChain is an exciting investment opportunity with free trade and inclusion at the core of its business plan. Many of the 2.5 billion people in the world who do not have access to all the goodies on eBay and Amazon will soon be able to do so with the help of Bitcoin, blockchain, and WANChain…