Zug, Switzerland – Not everyone across the globe has a bank account. The World Bank “estimates that 1.4 billion people worldwide are unbanked.”1 Even if people have access to a physical bank, many individuals lack the prerequisite paperwork and identification to get a traditional bank account. This unfortunate scenario when they want to borrow, transfer, or save money securely.
The Swiss Shakti Foundation is on a mission to solve this global problem. The foundation has developed Shakti Coin as an elegant solution to this crisis. Integrated within the Shakti Coin app (available on Apple and Andriod devices), is a process for even those without traditional identification to be securely approved for a Shakti Coin account. This fully compliant process allows people who would otherwise have no access to banking functions to use the peer-to-peer (P2P) Shakti Coin network to help them reach their goals.
Shakti Coin has the potential to give easy banking access to millions of people, helping many of them find their way out of poverty and into a better life.
1 (Source: https://www.weforum.org/stories/2024/07/why-financial-inclusion-is-the-key-to-a-thriving-digital-economy/. – accessed 2024-12-26)
About Shakti Coin and the Swiss Shakti Foundation
“Shakti” is an ancient Sanskrit word that refers to each individual’s innate potential.
Shakti Coin (SXE—Shakti eXchanged for Education) is a global stablecoin (set at $5 USD per coin). Unlike other cryptocurrencies, which link their fluctuating value to computational achievement, Shakti Coin’s stable value is based upon the daily effort made by children and families in education. This is a Proof-of-Effort (POE) Protocol, which the Swiss Shakti Foundation administers. The global NGO, Swiss Shakti Foundation, rewards parents with SXE Shakti Coins for their children’s school attendance, accelerating UNESCO’s EFA mission of “Education for All.”
Shakti Coin transactions take place within a compliant Swiss-American ecosystem and are secured by cutting-edge blockchain technology.
The Shakti Coin project is a grassroots initiative that transcends industries, governments, faiths, and political ideologies.
For more information visit www.shakticoin.com or reach out to secretariat@shakticoin.com
