A Multi-protocol Payment System to Facilitate Financial Inclusion

In 2017, there were already 250 million unbanked people with a smartphone and internet access out of a total 1,7 billion, while only in 2018, the volume of migrant remittance inflows for low-and middle-income countries was $529 billion. Due to financial crisis leading to devaluation and hyperinflation, 12 countries (other than the USA) with 40,5 million population already adopted the U.S. dollar as their native currency. Alternatively, Bitcoin usage soared among people in developing countries who are looking for dependable ways to store and transfer value. Bitcoin, with its estimated 25 million global users and ten thousand globally distributed nodes, is by far the most widely used, best understood and battle-tested cryptocurrency in the world to reach this financially excluded demographic.