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Author Topic: 《Innovative discussions on global liquid currencies》  (Read 33 times)
SKO007
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August 15, 2019, 04:32:14 AM
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The birth of the Internet and mobile broadband has enabled billions of people around the world to access knowledge and information from around the world, enjoy high-fidelity communications, and a variety of lower-cost, more convenient services. Today, you can use these services in almost every corner of the world with just a $40 smartphone. This interconnected convenience allows more people to enter the financial ecosystem and thus promote economic empowerment. Through joint efforts, technology companies and financial institutions have also developed solutions that help empower the global economy. Despite these advances, there are still many people in the world who are free. There are still 1.7 billion adults in the world who are not exposed to the financial system and cannot enjoy the financial services provided by traditional banks. Among them, 1 billion people have mobile phones and nearly 500 million people have access to the Internet.

For many people, some aspects of the financial system are quite similar to the telecommunications network before the birth of the Internet. Twenty years ago, the average price for sending a text message in Europe was 16 euro cents. Now, you only need a smartphone that has purchased a basic data plan, and anyone can communicate for free on a global scale. At that time, communication services were expensive, but the price was uniform; nowadays, due to the impact of cost, reliability and fluency of remittances, people who urgently need financial services often have insufficient financial services or can be restricted. SKO Financial Services The threshold is the lowest, so that people can get the services they deserve at the lowest cost.

Throughout the world, the poor pay more for financial services. Their hard-earned income is used to cover a variety of complex expenses, such as remittance fees, wire transfer fees, overdraft fees, and ATM fees. The annualized interest rate on payday loans may reach 400% or even higher, and the financial services that borrow only $100 can be as much as $30. When asked why they are still on the verge of the current financial system, those who still “have not opened a bank account” often point out that there are not enough funds, all kinds of expensive and unpredictable expenses, banks are too far away, and Lack of necessary formalities. SKO Financial Services is significantly superior to existing financial systems in terms of fees, convenience, inclusiveness, and security.

Therefore, the blockchain has become a key factor in solving the problem. Blockchains and cryptocurrencies have many unique attributes that have the potential to address the issues of financial service availability and reputation. These attributes include: distributed management to ensure that the network is not controlled by a single entity; open access, allowing anyone with Internet access to participate; and secure encryption to protect funds. This is something that traditional financial service systems cannot do, and decentralization is safe and reliable.
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August 15, 2019, 04:40:13 AM
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However, existing blockchain systems have not been widely adopted. The existing blockchain lacks scalability, and cryptocurrency has volatility. So far, these factors have caused existing cryptocurrencies to perform poorly in terms of value preservation and exchange media, thus hindering their widespread use in the market. In addition, some projects have attempted to undermine existing systems and bypass regulation, rather than innovating in compliance and regulation to increase the effectiveness of anti-money laundering initiatives. We believe that SKO's collaboration and innovation with the financial sector, including regulators and experts in various industries, is the only way to ensure a sustainable, secure and credible support framework for this new system. This method can make a huge leap. We have an independent KYC verification system with reliable and secure ID authentication to counter global financial crimes and money laundering. We have always believed that safety and reliability, and regulatory compliance will be the craze for the next generation of financial services. Let us move towards a global financial system that is cheaper, more accessible, and more connected.
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