Hey crypto buffs! Have you ever wondered how to spot a fab blockchain project in places like Colombia or Kenya? Well, the smart cookies at Stellar Development Foundation have teamed up with the big brains at PwC to whip up a guide just for that!
Picture this: It’s like a report card for blockchain projects, making sure they’re doing what they say – helping folks in developing countries get a fair shake in the money world. They spilled the beans in a white paper, and the tea is piping hot!
Using this shiny new rulebook, Stellar and PwC found out that blockchain can cut fees down to a tiny 1%. Speedy payments? Check! Dodging inflation? Check! It’s all looking peachy.
Now, I hear you asking, “But why do we need a rulebook?” Well, some blockchain projects shout from the rooftops that they’re helping the little guy. And that sweet talk? It’s getting them some serious cash – even from big players like UNICEF!
But here’s the kicker: Stellar and PwC reckon some of these projects are all hat and no cattle. Their take? You need a playbook to really hit the mark. They’ve set out some golden rules like access, quality, trust, and use. And they’ve broken those down even more, to make sure no one’s pulling the wool over our eyes.
Take “access” for example. They’re looking at stuff like how affordable it is, how connected folks are, and how easy-peasy it is to start up. And to keep things legit, they’ve got ways to measure each point. No more wild guesses!
They’ve also mapped out a step-by-step plan for projects to nail it. Spot a problem, see what’s blocking folks, figure out the big hurdles, and then go full steam ahead with solutions. No more shooting in the dark!
With this fab framework, they spotted two big wins: cheaper payments and savings that don’t melt away. Traditional apps might munch on 2.7-3.5% of your cash when you send money from, say, the US to Argentina. But blockchain apps? They’re asking for a measly 1% or less!
And for savings? Stellar and PwC found a nifty app in Argentina that lets users stash their cash in a digital safe haven, away from pesky inflation.
Stellar’s been a champion for the underdog in the money world. They’ve rolled out plans to help charities in Ukraine and even buddied up with Moneygram for a fancy digital wallet.
But, and it’s a big but, not everyone’s on board with crypto in these new places. Some experts think it’s a tad risky. Like the Bank of International Settlements, who reckon it’s like playing with fire in these budding markets.
Anyhoo, that’s the lowdown for now. Keep those digital eyes peeled for more juicy crypto tales! Till next time!