Atlas uses blockchain technology to provide mobile banking for the emerging markets

Country: USAatlas1

Year: 2014

Concept

  • Atlas is launching a mobile peer-to-peer application to give access to communities in the developing world access to savings and credit through a decentralised solution built on blockchain technology
  • The rise of mobile penetration in developing countries with  mobile payments, bypassing traditional financial infrastructures has resulted in the rise of microfinance and mobile solutions for the general public
  • The app aims to create a network of people from local communities, which in turn will create and grow trust whilst boosting financial inclusion
  • In addition, access to capital through savings accounts and loans are offered through the Atlas platform
  • The blockchain shows proof of origin for the money and all transactions, ensuring users know exactly where their money is and the latest transactions on their account
  • Atlas also has a second project, Atlas Labs, which is a blockchain innovation hub, to conceive and construct infrastructure for new solutions

Consumer Benefits

  • Financial inclusion: for rural populations that are far from their nearest bank or the un or underbanked
  • Transparency: users can see all transactions which are immutable (cannot be altered or deleted)
  • Mobile: the solution is adapted to populations with high mobile penetration

How To Use

  • Currently, under development, interested users can contact Atlas for more information through their site to find out release dates