Yellow card is a cryptocurrency Giftcard
It function as an exchange that totally excludes the bank from the equation, this gives true meaning to cryptocurrency as completely Decentralised and independent from financial institutions.
Even though we claim crypto removes banks from the equations, their is no way of move to move between crypto and fiat without actually going through a bank because you need to either use a bank transfer or a Credit-card transfer to actually pay for the cryptocurrency in all exchanges and when moving back to fiat you would have to receive the funds into your bank account. This actually totally defeats the purpose of cryptocurrency to a large extent censorship is still bound in this gateways. its time we tried something new and radical
What the is yellow-card and how does it solve this problem.
Yellowcard is cryptocurrency giftcard and exchange for the cash and excluded economy. Buying stellar and other cryptocurrencies would be as easy as going to a store to buy groceries. All you have to do is work into a store and pick the voucher, pay with cash, redeem the voucher on our portal or using USSD, and you have lumens in your account or ever wallet of your choice.
This approach also works when you want to move back into fiat simply go to one of our over 160,000 locations globally and send the lumens to the cashier they would return give you cash, or use the lumens to buy groceries at the store directly.
Why is this project valuable for Stellar
We are going to be available in 160,000 locations globally and over 7 countries in Africa and 5in Asia. We know how important remittances is and how poor the banking situation is in Africa, over 75% of the adult population unbanked, yellow card gives them the easiest access to cryptocurrencies like stellar. With stellar in their pockets they discover the global economy and reach out to the stars.
As a Wallet the card pins holds monetary value which can be transmitted to parties across he world and use to settle bills, there is also a dashboard to see and manage redeemed pins.
Also, people dont have to work to hard when sending money cross borders you could either send the lumens to the individual he then walks into any of our partner stores and redeems the lumens for cash.
How does your project utilize Stellar
The 1st step in our integration with stellar will allow the users to buy and sell stellar lumens over the counter literally, but our end goal is to build a completely decentralised banking solution with the stellar protocol that will be accessible for the totally financial included and the cash economy. this settle will be able to plug into any crypto system.
All the user needs is to have a little form of identification so we stay compliant, a mobile phone and cash. The user doesn't need to have a smartphone or access to the internet we are building out a suite that utilises USSD code for wallet management and crypto transfer.
This project is a complete rethink of the cryptocurrency wallet and value transfer mechanisms. it will be a corner stone to bring the majority of the unbanked who cant come into crypto because of the banking barriers to be able to come onboard and get the value of a decentralised economy.
We are currently finalising our private beta and to onboard lumens on our platform that why we need this Stellar build challenge, the major issue is with the liquidity of that will be needed to run the systems.
winning this challenge enable us overcome the liquidity challenge and onboard stellar before our launch durring the summer .
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