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PwC and This Altcoin Released Joint Blockchain Report!

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The Stellar Development Foundation, developers of the altcoin XLM and the Stellar network, has published a financial inclusion framework to evaluate the effectiveness of emerging market Blockchain projects. The framework was developed in collaboration with consultant PricewaterhouseCoopers International (PwC) and is described in a whitepaper. Here are the details…

Joint step from PwC and altcoin Stellar

Using this framework, teams concluded that blockchain payment solutions significantly increase access to financial products by reducing fees to 1% or less. They also found that Blockchain products increase the speed of payments and help users avoid inflation. Some Blockchain developers claim that their products can increase “financial inclusion.” In other words, they say their product could provide services to unbanked people living in the developing world. Making this claim has become an effective way to obtain funding for some Web3 projects.

For example, the United Nations International Children’s Fund (UNICEF) listed eight Blockchain projects it has helped fund so far based on this idea. However, Stellar and PwC argued in their paper that projects may fail to increase financial inclusion if they do not have a framework for assessing what is needed for success. “As with any technological innovation, the need for sound governance and responsible design principles are key to successful implementation,” they said.

Parameters are important in the project

To help promote this governance, the two teams proposed a framework for assessing whether a project will promote financial inclusion. The framework consists of four parameters: access, quality, trust and usage. Each of these parameters is divided into further sub-parameters. For example, “access” is further broken down into affordability, connectivity, and ease of startup. Each description of a subparameter includes a suggested way to measure it. For example, Stellar and PwC use “CICO in the relevant target population area” as a way to measure the “connectivity” metric. [cash in/cash out] lists the number of locations.

This aims to help ensure that projects can measure their effectiveness scientifically rather than relying on guesswork. The teams also proposed a four-stage evaluation process that projects must go through to solve a financial inclusion issue. In the first stage, the project must identify a solution, target audience and relevant jurisdiction. In the second stage, the obstacles to the target audience receiving financial services should be determined. In Phase 3, they should use “level charts and guidance” to identify the biggest barriers to recruiting users. In the final stage, they should implement solutions that “prioritize key parameters” in order to use the funds in the most effective way.

Financial inclusion increased

Using this framework, teams have identified at least two blockchain solutions that have proven effective in increasing financial inclusion. The first of these was payments. Based on a study of 12 apps operating in Colombia, Argentina, Kenya, and the Philippines, the teams found that traditional finance apps charged an average of 2.7-3.5% to send money between the United States and the market studied, while blockchain-based solutions He found that he was charging 1% or less. They found that these apps increase access by making electronic payments available to people who might not otherwise be able to afford them.

This Unheard of Altcoin Exploded During Recession

The second effective solution they found was savings. The team claimed that a stablecoin app in Argentina helps users preserve their otherwise lost wealth by allowing them to invest in an inflation-proof digital asset. The Stellar network is at the forefront of payment inclusion in underserved financial markets. In December, he announced a program to help aid organizations distribute funds to help Ukrainian refugees fleeing war. On September 26, they announced a partnership with Moneygram to produce a non-custodial crypto wallet that can be used in over 180 countries.

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