30s Summary

The World Bank Group estimates that around 1.4 billion people globally lack access to banking services, often due to the absence of technology and banking infrastructure. Blockchain technology offers a solution, allowing transactions to occur quickly, cheaply, and without interruption. DeFi (Decentralized Finance) can enable financial service access for those who usually cannot reach traditional banking. However, blockchain’s complexity and scalability challenges need work. Solar, a blockchain platform, aims to simplify and enhance scalability as part of its user-friendly strategy. The platform offers interconnected products such as the Solar Mobile Wallet, BrighterVPN, and a crypto-powered debit card.

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Around 1.4 billion people in the world don’t have access to banking services, according to estimates by the World Bank Group. This is often due to lack of technology and banking infrastructure, particularly in some parts of the world. Blockchain technology is a solution to this problem that can provide easy access to resources for these unbanked people.

Think of blockchain as a digital alternative to traditional banking. It doesn’t need physical infrastructure and can make transactions happen in seconds, cost much less, and work 24/7 without interruptions. Plus, its decentralized nature makes it easier to make payments across different countries and avoid traditional currency restriction and infrastructure problems.

For people who can’t access banks, decentralized finance, or DeFi, is a great option. DeFi gets rid of the middleman and helps folks access financial services that might not have been available to them. It’s a way of making it easier for everyone to use financial services.

Blockchain is also incredibly useful in areas where access to information and the internet can be tricky. It records data in an unchangeable way and stores it across multiple servers, meaning your data is safe and secure from any outside meddling.

That said, blockchain isn’t perfect yet. It can be a bit tricky to understand and work with, and might require you to become a bit more tech-savvy. And as more people start to use it, it needs to get better at handling a large number of transactions quickly and cheaply.

Solar is a blockchain platform working to make this technology more user-friendly. They focus on offering easy-to-navigate interfaces and high scalability, which will encourage more people to start working with blockchain.

Solar has an ecosystem of interconnected products designed to make blockchain simpler and more accessible for more people, not just tech experts. Their main product, the Solar Mobile Wallet, is a super-easy way to store and manage cryptocurrencies.

Solar also believes in sustainable blockchain design. The company operates on a system that rewards users for participating and burns 90% of transaction fees to ensure that the ecosystem continues to be sustainable long-term.

One of their more innovative solutions is BrighterVPN, a VPN that’s powered by blockchain. This allows users to freely and securely browse the internet. It’s a godsend for people living in countries where full internet access is limited.

Aside from these, Solar offers a crypto-powered debit card, aptly named Solar Card. This card allows users to make purchases with crypto, both online and offline, in over 180 countries.

Solar even has a presence in the gaming world. They offer a game launcher that allows developers to create and publish blockchain games, and they have a metaverse similar to Minecraft where players can build an online world and get rewards for participating.

The tools and solutions provided by Solar, like their Mobile Wallet, BrighterVPN, and Solar Card, aim to simplify interaction with blockchain technology and increase financial and digital inclusion. Solar is all about simplicity, scalability, and sustainability, as they work towards using blockchain for a better future. They aim to provide easy, cost-effective, and safe access to decentralized services and technology, connecting users and traditional finance resources. Check out Solar’s website for more information.

Source: Cointelegraph