One of the main wish of crypto lovers is to see crypto adopted all over the world.
This dream can come through when the process, methods and procedures involved in crypto are not so technical and time consuming.
Now let me tell you a story about how Ghana Transformed it banking system to include all and sundry.
A very long time ago, only some few elites in Ghana had bank accounts, less than one percent of the population had accounts with various banks.
The cost and time involved in creating branches by these banks all over the country was not something that was going to come easy.
One day, a tech giant called MTN introduced a system where your phone number can be used as your bank account number.
All you have to do is dial a short code and register for this service.
Friends and family who have registered for this service can now send money to and from their phone to another phone through the persons phone number. No app needed, Just dial the short code and follow the prompt.
Through evolution they have added alot of features to it, u can take loans from banks. They have made the services now interoperable with all banks in Ghana, so that if you have to have an account with any bank, you can link the two and move money from your bank account to your phone number and vice versa.
Is there a way there could be a project that will also thread this short code line.
After someone creates a crypto wallet, the person doesn’t necessarily need to visit the wallet again to send crypto coins. The person can do that through a short code.
Now Fabs follows the following steps to send the money.
- He dials *170#
- He selects transfer crypto
- He selects to a crypto user
- He selects the network trc20, bep20 etc
- He enters the phone number. (Here the persons phone number is linked to his wallet)
- He selects the amount
- He enters a 4 digit password
- He sends
I dont know how the person’s phone number can be linked to his wallet address, but i know since @kraftly is proposing a name service to represent wallet address, phone numbers can as well be used to move funds in and out of wallets without necessarily entering the app.