The block chain opens the financial life of the refugees


nnnIn the event that the Finnish immigration authorities have provided a prepaid MasterCard for refugees who have no bank accounts within two years, there are thousands of active cardholders. Finnish start-up companies MONI offers card-like services that are also associated with unique digital identities on the chain. The use of block chain integrity of the preservation of refugee status, to provide them with financial services. The company’s goal is to extend these services to Europe, and ultimately to achieve Pratt u0026 Whitney Finance.n
nnTranslation: Annie_Xun
nFor a new country’s refugees, identity is the most difficult to recover, at least in the official sense. There is no official ID to make people in the community almost impossible.n
nLike other European countries, Finland has recently poured in a large number of refugees and began to use encrypted books, that is, through the chain of chains to make them faster foothold.n
nFinnish Immigration Service has already provided a prepaid MasterCard for refugees who have no bank accounts for two years, rather than traditional cash outlays, and now there are thousands of active cardholders in the project. Helsinki start-up company MONI developed a card that is also associated with a unique digital identity on the chain chain, which is the underlying technology of digital currency bitcoats.n
nBitcoin shows how block-chain technology transfers value between individuals in the absence of a businessman. The core of the technology is the software protocol, which creates a permanent record of each bit currency transaction. Anyone can access these records and access the block chain by downloading Bitcoin software. The computer running the software is spread all over the world, preserving the block chain and using it to validate new transactions.n
nBlock chains are seen as channels for people who have no access to financial services to open new financial opportunities. In addition to eliminating the reliance on traditional financial institutions’ transactional intermediary services, they can also create secure digital identity storage that can not be tampered with and accessible worldwide. So the United Nations explores how the chain-chain technology provides legal status for more than one billion people who do not currently have official archives.n
nFinnish immigration director Jouko Salonen said Finland’s MONI card could solve some of the challenges of the refugees. Most importantly, the MONI account functions like a bank account, thus removing some of the specific application barriers. People can use the account to shop, pay, and even can be used to pay wages. At the same time each transaction records in the public can not be tampered with the database, the database is maintained by the computer network. So that the USCIS can track the cardholder and its consumption situation.n
nSalonen said the technology could help refugees without bank services because the lack of a certified identity for refugees who can not get a bank account and work is missing.n
nn”We found a way to solve this problem.”n
nnMONI’s technology uses a public chain for value transfer, but for the user, this approach is similar to a debit card. The cardholder can pay at the MasterCard terminal, or enter a number in the page form to make an online payment. MONI is responsible for performing digital currency transactions and digital currency conversion required for encryption operations.n
nIn addition to the refugee card program, MONI’s services can also be tested in Finland, the company plans to quickly release consumer products in Europe. Account monthly cost of 2 euros, the company only in the purchase of each user to take a small part of the cost.n
nMONI founder and chief executive officer Antti Pennanen compared the block-chain technology to the early Internet, where the Internet was only accessible to a small number of people who could use the methods and skills. He said that MONI’s technology is similar to allowing more people to access the Internet’s modems.n
nPennyen said MONI’s statement has spread to refugee camps in Europe, and once the service can be applied in multiple countries, the needs of these refugee communities will be high. The company eventually wants to help everyone who can not enter the modern financial system.n
nn”Our aim has always been Pratt u0026 Whitney Finance, especially to help people in developing countries.”n

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