As A Payment Platform For The World's Unbanked

Adoption not only of Credit but all Cryptocurrencies is paramount.

A concept close to mind when creating Credit was Adoption. Adoption not only of Credit but all Cryptocurrencies is paramount.

The more Cryptocurrencies directly linked to real-world usability, function, and value, the more adoption will occur.

Although globally cryptocurrency adoption is on an upward trend, we at The The Credit Project want to make sure that we do the most we can to bolster and nurture user adoption by making Credit user-friendly and rewarding.

We want to make it simple and easy for everyday users to conduct transactions, and for businesses to start accepting Credit as a form of payment.

Our analysis of the global unbanked adult population revealed the following results: 94% of adults in high-income countries said they had a bank account, while only 54% of those in developing countries did. The Middle East had the lowest proportion of account holders, with only 14% on average. Notably, 80% of adults in developing nations have smartphones and use mobile apps.

We have established that there is low use of bank accounts in the developing world. We also know that traditional cryptocurrencies pose many financial and technical barriers to new users from these regions. For the most part, this market gets little attention from the global cryptocurrency industry.

In developing nations, the mobile money market is expanding. Only 2% of adults worldwide have a mobile money account. Also, 12% of adults in Sub Saharan Africa have one, half of whom have no other account. We found that countries with the highest dependency on mobile money solutions had the lowest usage of bank accounts.

It's worth noting that the most common reason for not having a bank account was that they did not have enough money and or the charges made it not viable to use a bank account over mobile money. Surprisingly, only 4% said they did not need one.

Credit proposes that the Credit App-based wallet should replace centralized mobile money and cash at the same time. Credit offers virtually free instant payments that can be sent anywhere in the world. Additionally, the wallet earns you more coins.