PNGME: Borderles Mobile Finance

Introduction
It is not something of secret that in this time we are, the global economic is highly sensitive and it is something that affects everyone. There's no end to US-China Trade War, there's also a forecast by Morgan Stanley will will still reduce interest rate to even up to 0%. China economy has continue to slow down, the major economies in the euro zone are not doing will neither and the Brexit brouhaha is still in the air. There's a recent report by Bank of America Merrill Lynch that the possibility of the USA economy to enter recession in the next one year is around 30% and the forecast of US economic growth by Goldman Sachs in the last quarter of 2019 has been downgraded from 1.8% to 0.6% and the reason for this is because of the ongoing trade war. With all the points above and the challenges in obtaining loans from financial institutions, it will not be easy for ventures and enterprises especially micro, small and medium sized enterprises (MSMEs) to make use of services rendered by conventional financial institutions to grow and expand their businesses. A recent publication by Earnst and Young reveals that there are about 200 million MSMEs globally who cannot access banks financial products thereby limiting the growth and expansion of their business. This is the main reason for the creation of Pngme which is an innovative blockchain-based Mobile banking platform.

Before going into the full details of Pngme, let's first of all have a full grisp of what blockchain technology is all about.

What is Blockchain and why Pngme built on Blockchain?
A blockchain can be regarded as a database system that ensures the storage and transmission of data in blocks. These blocks are interconnected together through encryption and they operate independently of each other and it can be expanded at any time. These blocks are managed by individuals known as nodes who are fully involved in it and not by third parties and this is the reason why any information inputed on blockchain cannot be erase or edit. The data block am talking about is the exchanges and transactions that go through the blockchain. What makes blockchain exceptional is security, immutability, transparency and decentralization. And with the benefits mentioned above and others, Pngme decides to develop their mobile banking services on blockchain innovative ecosystem.

Benefits of Pngme to MSMEs
I have indicated before in the beginning of this writeup the reasons why micro, small and medium sized enterprises (MSMEs) find it very difficult to access financial products that could accelerate and expand the growth of their ventures. On a broader sense, bad debt history, unrealistic business plan and non transparent financial statements are the major factors that makes it very hard for MSMEs to access financial services. Most MSMEs business activities are spontaneous, non availability of specific plans of operations, poor ability to thrive in macroeconomic instabilities which can affect the efficiency of business, production, the loan used and the capacity to pay it back. In reality, the financial ability of most MSMEs is very small, their financial information is too vague and they don't have collateral that they can use to request for loan. These are the major reasons limiting the access of financial products like loans to MSMEs. Apart from this, difficult process and high cost of delivering of financial services can also be among the reasons. Pngme – a Mobile Finance Platform has created a niche for itself as the best alternative for people, startups, ventures and MSMEs to more readily available and innovative banking services.

How Pngme will Help Non-Financial-Inclusive Customers
As I referenced above, I made my readers to realize the easiness individuals and MSMEs have to face in accessing financial services and I also referenced alternatives financial services Pngme have to offer. They have seen the opportunity before anyone else and have decide to offer an Innovative Financial Inclusion services for those that are not included in the financial framework of conventional financial institutions. Through Pngme, an individual, ventures and even financial companies will be able to enjoy banking services which will includes will includes Credit Score, low fee payments, loan marketplace without limitation. The blockchain that fuel the operation of Pngme services will be of immense benefit in reducing financial services delivering cost which is one of the barrier for conventional banks to render services to low income earners. For example, with the use of Pngme innovative features like Piggy Bank, an individual will be able to earn passive income through earning of interest in their Pngme piggy bank account. Apart from this, they can keep records of their daily spending and not over spend through the use of Everyday Accounts features of Pngme thereby helping them to create daily account payments.

To ventures and MSMEs, Pngme will help when it comes to collection of funds to grow and expand their business this will be possible through marketplace lending which is a platform where businesses can lend and borrow money at a very low rates. Last but not the least, all payments within Pngme platform will be super easy and convenient than what anyone can envisage because payment through it will be low and it will be in currency like BTC and the native token of the platform called PNG tokens and also it can be done in your local fiat currency. In all, the blockchain-powered banking services of Pngme is fully secure and transparent and more innovative than any banking services of traditional financial institutions.

Conclusion
Try to consider everything about Pngme, alll it's features has what it takes to be a disruptive product in DeFi industry. The platform will also enhance financial-inclusion and further close the gap between the high and the low in financial rankings. Though there are wider challenges that the team will have to surmount which I know that will surely do through their expertise.

Useful Links
🌐 Website — https://www.pngme.com/
📑 Whitepaper — https://docsend.com/view/m8fighb
📑 Token Economics — https://docsend.com/view/929pjg2
📧 Telegram — https://t.me/pngmecommunity
📝 Bitcointalk ANN — https://bitcointalk.org/index.php?topic=5140127
🕊 Twitter — https://twitter.com/pngmemobile
📘 Facebook — https://www.facebook.com/pngme/
📝 Medium — https://medium.com/pngme
🔗 LinkedIn — https://www.linkedin.com/company/pngme/
📱 Android App Early Access — https://early.pngme.com/early-access-beta/

Article written by Aramine
https://bitcointalk.org/index.php?action=profile;u=2587883