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Unbanked: Achieving Financial Inclusion and Control With Blockchain & the UNBNK Token

Financial economics impacts customers and companies long-term, so financial innovation is crucial to industry development. Further, financial innovations play a critical role in the modernization of the financial sector, which is necessary for the economy’s prosperity.

It is ideal, however, if the invention can simultaneously satisfy consumer needs and resolve corporate issues. Often, companies that prioritize innovation succeed because they have the right product on the market at the right time.

As a result of the widespread use of technology over the past several years, how we manage our finances has undergone a significant change. Likewise, with new financial technologies, financial institutions worldwide can offer consumers new and exciting ways to utilize and manage their money.

Introducing Unbanked

With the arrival of the “Fourth Industrial Revolution,” an institution providing transformative products and services was necessary. Unbanked fulfilled that role by combining traditional business, fintech, and banking structures with innovative blockchain technologies. In a way that has never been possible before, the Unbanked help these institutions expand the utility of cryptocurrencies for investing and everyday purchases.

Unbanked, which goes beyond the conventional off-the-shelf approach to contemporary banking, allows this using blockchain on the premise that having access to and control over one’s finances is a fundamental human right. The platform also uses a range of financial services and products that are enabled by cryptocurrencies and meet and surpass the expectations of its users.

Solving Modern Problems With Modern Solutions

Blockchain-Powered Banking

Through Unbanked, users worldwide can access intuitive bank accounts to monitor their purchases, spending, transfer, and more with no restrictions on time or location. BlockCard increases the power of Unbanked Bank accounts by up to 6.38% on all their purchases with online and offline transactions worldwide. 

One of the most attractive features of the platform is the immediate settlement of cryptocurrency purchases to self-custodian wallets instead of a delay of days or weeks, as is the case with other platforms.

New Generation Debit Card

The main issue for all cryptocurrency users is the fees they must pay to debit card providers and the consequent reduction in flexibility. These consumers have the flexibility they need with Unbanked Card to reduce cryptocurrency deposits, exchange fees, and transaction costs. 

Providing both a digital and physical card, UnBanked allows users to remain in crypto until the point of sale and offers rewards for transactions, as well as Apple Pay, Google Pay, and Samsung Pay integration. 

Whitelabel Card Services

With Unbanked, other Crypto Companies can launch cryptocurrency wallets, bank accounts, cards, and more with their own brand and features.  Unbanked powers and runs the entire services.  This allows businesses to customize the experience in their apps or websites, achieve full compliance, and integrate crypto into their everyday operations. The platform also helps enterprises deploy and grow their programs by providing them with first-hand data and information. 

Among Unbanked’s accomplishments are being a VISA Fasttrack Enablement partner, working with AMEX’s on their first NFT card, and as a program managers for Mastercard, in addition to collaborating on foreign launches with many institutions. Unbanked was also among Inc. 5000’s fastest-growing companies – ranked 327th in the US and was also the $25,000 winner of the Shark Pitch by judge Kevin O’Leary.

Tokenomics

UNBNK, the native token of UnBanked, is currently available on Stellar and Ethereum at 1:1 value, where users can deposit and withdraw assets from Stellar and Ethereum. With the UNBNK debit card, the UNBNK token is the primary spendable asset. The card keeps cryptocurrency, such as Bitcoin, until it is used and converted to UNBNK. UNBNK can also be staked to earn 1% to 6% back on card purchases.

In case the demand of UNBNK exceeds, the platform plans to use minting and burning to keep the supply the same across the chains. In addition, Unbanked has created a centralized swap mechanism that allows users to quickly move UNBNK (Unbanked’s Native Token) between Stellar and Ethereum. 

Tokenomics for UNBNK

Total Supply: 999,775,894 UNBNK (Ethereum and Stellar)

Burn Fee on withdrawal: 2%

Burn Frequency: On the 1st of every month

Blending Efficiency and Utility of Digital Currencies

With Unbanked, digital currency is valuable and efficient while maintaining the comfort of the current financial system. Residents in 200 countries can get a crypto friendly FDIC bank account on Unbanked.com to purchase cryptocurrency.

Residents of the the US, UK, and EEA can get crypto cards today for spending crypto with Latin America coming next.  In 2023 Unbanked also plans to offer crypto cards to residents in Canada, India, Nigeria, and many others to expand global availability.

Final Words

Unbanked is working to democratize access for people worldwide and combine the advantages of blockchain and cryptocurrencies with bank accounts and debit cards to give consumers more choice and control. Unbanked is seizing the opportunity that blockchain technology and mobile devices present to drastically change the level of access. Unbanked will undoubtedly continue to innovate and make improvements to impact the future of the blockchain banking phenomenon.

 

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