HashCash Consultants has time and again advocated the restoration of powers to the common people. This project underlines their efforts in the same direction
California-based software development company, HashCash Consultants extends its humanitarian services to engineer a financial communication channel. This setup will impact non-profits and small businesses. Small businesses and non-profits operating in the remote African territories require grants of money. These organizations will receive funds directly from senders through a blockchain network.
“As emails carrying attachments are sent and received over a network, the financial communication channel is to act in the same way,” explains Raj Chowdhury, CEO of HashCash Consultants.
The only apparent difference lies in its capacity to bear documents such as loan contracts, digital IDs, currency exchanges, complex financial instruments, or other applications required to sustain a financial system, in attachments.
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“This empowers the small entrepreneurs and non-profit organizations to avoid complexities involving a bank or other intermediaries. A sender or donor may directly send their loan or grant to the target organization.”
The design ensures that the installation of the network incurs reasonable expense and is moderate in energy consumption.
HashCash has recently accomplished a domestic fund transfer project partnering with a local concern. The effort enables the unbanked population of the country to safely send and receive funds. HashCash has previously worked with several organizations enabling cross-border asset transfer and remittance. The blockchain development company has also tested its abilities partnering in a project tracing mineral supply chain to redress child labor issues that plague the mineral mining industry in Congo. They have also designed an e-commerce and retail focus digital token for an African enterprise
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“The complexities and expenses in getting a bank involved, intimidate a section of people. Our efforts make way for economic mobility to these people,” concludes Chowdhury.
The effort is aimed at decentralizing the economic powers for common people who have remained unbanked to date. The economic mobility allowed by such projects should liberate Africans with an influx of opportunities.
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