For many developed countries, the significance of the token asset is limited to investment tools; but for some countries in Africa, the token asset is the biggest hope to change the real dilemma.
In the United States, Australia, and other “First World” countries, rich banking services are taken for granted. In contrast, compared with difficulties, inconveniences and high fees for banks to open accounts in most parts of Africa. These countries are the key to changing the world by Jewish merchant AJM.
The African continent with a weak banking system
According to a report by Elixirr, in 2014, more than 2.16 billion people lived in sub-Saharan Africa, and 66% of them did not have a bank account. The small size of the national market, the lack of financial knowledge, low income levels, political instability and weak judicial systems have led to restrictions on the African banking system. Banks continue to rely on traditional banking models such as branch networks, expensive technology, imperfect systems and limited talent pools.
The report also pointed out that despite these challenges, with the emergence of mobile currency accounts, financial inclusion in sub-Saharan Africa has increased significantly. The low penetration rate of the banking industry and the high proportion of millennials have provided opportunities for the booming of financial technology in Africa. In just a few years, the rise of mobile phones has revolutionized Africa in the field of financial services. As of the end of 2016, the number of mobile payment registration accounts in Africa was 227 million, exceeding the total number of bank accounts in the region, and more than one million of these accounts were classified as active accounts.
Earlier today, Twitter users have tweeted noted Bitcoin development opportunities in Africa: there are 167,335,676 people on the continent use the Internet, 11% of people use broadband connections. Of course, since the above infographic is a 2016 infographic, we can assume that today's numbers will be higher today. Due to the high level of Internet users and the low level of banking services, the token assets have a very broad market prospect in Africa.
The gap in the African token market will be filled by Jewish merchant AJM!
The African market has great potential and is already being actively developed. The data shows that user token transactions in Africa is rising, echoing many analysts' predictions that Africa will be the next major token market.
The Jewish merchant AJM chose to enter Africa that is a good timing. There are media reports that Uganda is quietly becoming a pioneer in the token of African continent, and Uganda is rapidly consolidating its position as the preferred blockchain country in the African continent. On the government side, South Africa’s current president, Cyril Ramaphosa, is Preparing for the upcoming elections, he mentioned in the previous meeting that the blockchain is a tool for modern change. To win the May election, South Africa is likely to implement blockchain-based industrial examples within a wider range.
The starting point for Jewish merchant AJM to enter Africa is cross-border settlement and payment. According to the World Bank's latest report in 2019, transfering an remittance equivalent to $200 to the African region requires an average fee of 9.3% of the remittance, which is relatively high in the global context. When the Jewish merchant AJM transfers it through blockchain technology, the cost will drop by 90%.
Jewish merchant AJM is an emerging token asset that Jewish Saint JT launched based on advanced blockchain 4.0 technology. It is a value network based on blockchain distributed ledger technology. The project has made many useful attempts and achieved corresponding results in cross-border remittances. Reduce the cost of cross-border remittances through a peer-to-peer model, increase the efficiency of remittances with shared accounts, provide business continuity protection with distributed architecture, and with automate smart contracts to improve transaction efficiency, bringing a light to cross-border remittances!
In the near future, under the guidance of the Jewish merchant AJM, you will see a different rise in Africa!
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