How Leaf Utilizes Blockchain Technology
Leaf is developing a mobile application platform to facilitate cash to virtual currency conversion through blockchain technology. Blockchain technology with its distributed ledger, decentralized administration, and secure cryptography presents an opportunity to provide affordable financial services to people crossing through multiple countries.
Leaf converts mobile money through blockchain technology into stable investments. Value is not stored in volatile cryptocurrencies so that customers are hedged against volatility. The platform is accessible through a mobile device—no smartphone required. Friends and family abroad can also contribute into a customer’s account, creating bridges within networks dispersed by trauma and distance. Whenever the customer reaches a point of stability, they can withdraw into the new local currency or use their balance as collateral on a microloan. Leaf’s platform offers a secure, affordable, convenient way to safeguard and transfer money across borders that ultimately leads to an economic identity.