Introduction
Our purpose is to make an accessible environment for ease of financial services available for people in South East Asia and all over the world on this project. To achieve this purpose, we intend to support the poor through our financial institution and offer epoch-making services compared to existing banking services through a cryptocurrency exchange platform.
World Poverty Population
According to The World Bank, there are 736 million lives in extreme poverty all over the world in 2015. It’s less than USD 1.9/day to manage their life. There are 7,355 million lives in 2015 so 10% of world population are in poverty as you know. It’s decreasing year by year the poverty ratio in Cambodia and its ratio is 13.5% in 2014. We know it’s more decreased the extreme poverty ratio currently but there are still exist a lot of the poor in Cambodia.
Account holder Ratio in ASEAN
There are many poor people in Cambodia compared to other countries and also it’s not easy for them to access financial services in Cambodia. Cambodia has the lowest percentage of account holders ratio compared to other ASEAN countries except Brunei (Source: The Global Findex Database 2017). The reason why they are not able to make an account is due to there being no existing financial institutions around their living space, not able to pay the account maintenance fee and not enough funds to deposit for account. People don’t have an account are not able to borrow money from financial institutions. Thus now we can understand it’s difficult to make a beginning to exit from poverty in Cambodia. Our project would like contribute to solve these issues, decrease the poor and offer financial services to non-account-holders starting from Cambodia.
