Stellar Envisioned for Savings Accounts for Unbanked in Africa
Praekelt Foundation, an Africa-based nonprofit that aims to Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term mobile technology to help those living in poverty, plans on using Stellar to help the unbanked gain access to financial services.
The foundation, launched in 2007, has spearheaded a number of projects leveraging mobile communications to improve their everyday lives, among them: promotion of HIV/AIDS awareness, promotion of youth literacy using short stories on a mobile device and an appointment reminder system for those on chronic medication.
Teenagers in poorer areas of South Africa will be reportedly given the chance to test out what has been termed as a "digital savings account" operated via text messages. As an extension of a mobile social network already used, the savings feature is slated to allow them to earn mobile airtime credits in Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term for activity on the social network.
Stellar would serve as the currency in the system. Gustav Praekelt, the organization's head, envisions that the digital currency will eventually be expanded for use in a full-fledged savings account scheme. The aim would be to leverage Stellar's ability to transfer funds, without the need for an intermediary, to help educate the youths on the art of saving money.
The foundation reportedly develops a software called Vumi that powers interactive functionality on mobile phones without the need for data plans for internet. Humanitarian organizations including UNICEF, USAID and the Gates Foundation reportedly use the software to deliver health and education programs.
DC Magnates has reaches out to Stellar for comment, but has not received a response as of publishing time.
Praekelt Foundation, an Africa-based nonprofit that aims to Leverage Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term mobile technology to help those living in poverty, plans on using Stellar to help the unbanked gain access to financial services.
The foundation, launched in 2007, has spearheaded a number of projects leveraging mobile communications to improve their everyday lives, among them: promotion of HIV/AIDS awareness, promotion of youth literacy using short stories on a mobile device and an appointment reminder system for those on chronic medication.
Teenagers in poorer areas of South Africa will be reportedly given the chance to test out what has been termed as a "digital savings account" operated via text messages. As an extension of a mobile social network already used, the savings feature is slated to allow them to earn mobile airtime credits in Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term for activity on the social network.
Stellar would serve as the currency in the system. Gustav Praekelt, the organization's head, envisions that the digital currency will eventually be expanded for use in a full-fledged savings account scheme. The aim would be to leverage Stellar's ability to transfer funds, without the need for an intermediary, to help educate the youths on the art of saving money.
The foundation reportedly develops a software called Vumi that powers interactive functionality on mobile phones without the need for data plans for internet. Humanitarian organizations including UNICEF, USAID and the Gates Foundation reportedly use the software to deliver health and education programs.
DC Magnates has reaches out to Stellar for comment, but has not received a response as of publishing time.