At Asdra, our mission is "Banking the Unbanked." We utilize blockchain technology and the Internet to help the less fortunate send their hard-earned money home.
The World Bank and United Nations Migration Report estimate that 272 million migrants sent $689 billion through conventional banks and $1.76 trillion through underground remittances in 2020.
Underdeveloped countries often lack access to formal banks, making it difficult for money to flow between countries. Underground remittances offer a convenient alternative, but often involve high fees and are subject to unfair exchange rates.
Bitcoin and other cryptocurrencies appear to be the solution to the remittance problem. Bitcoin and other cryptocurrencies fail because of their non-scalable technology, expensive proof-of-work blockchain fees, currency volatility, and difficulty of use.
The Asdra ecosystem consists of several smart contracts that allow users to use stable tokens and make global transfers in real-time. With the Asdra app, users can make a cross-border transaction almost instantly.
Creating the Asdra ecosystem requires rethinking everything from the ground up.