ENCOURAGING MASS CRYPTOCURRENCY ADOPTION CITING MEANFI AS A CASE STUDY
Introduction
Cryptocurrency is a type of currency that’s digital and decentralized using cryptography, rather than by a centralized authority. Cryptocurrencies can be used to buy and sell things, and their potential to store and grow value has also caught the eye of many investors. Categories of cryptocurrency DeFi, NFT, utility tokens, store of value tokens like bitcoin and litecoin. MeanFi can be categorized under DeFi- Decentralized Finance
Mass adoption means governments globally have created an enabling environment for blockchain and cryptocurrency to flourish or adopted the technology in their own practices, whether it’s blockchain-as-a-service for intergovernmental transactions.
One innovative platform that can solve financial problems is Meanfi. MeanFi is a self-custody, permissionless and trustless web3 banking application powered by the Mean Protocol, and facilitates everyday banking and retail investment banking workflows to people and businesses around the world.
FINANCIAL PROBLEMS MEANFI WILL SOLVE
Money streaming represents the idea of continuous payments over time. Block numbers are used to measure time in the blockchain and continuously update the balances of the parties in the contract. MeanFi platform will handle payment of salary, instead of receiving a payment such as a salary every two weeks smaller payments can be made over shorter periods of time, even covering a fraction of a second.
MeanFi offers vesting feature of locking and releasing tokens after a given time. Just like in traditional finance, vesting in the crypto world is often used to ensure long-term commitment to a project from team member. Users can then dedicate a fixed percentage of their money stream to be staked on lending protocols or swapped for other cryptocurrencies, all via an automated process.
MeanFi can be used to process subscription services, a largely untapped market in the crypto economy. Where a user wants to subscribe on Netflix, the monthly subscription can made on MeanFi app.
MeanFi platform offers no KYC and no limits in depositing or buying SOL/BTC/ETH/USDT/USDC with your debit/credit card and bank account directly. MeanFi can be used in everyday life to pay for goods and services. Mean token can also be bought by interested users.