Masa's Bridging Project

estylo (39)in #masa • 2 years ago

Introduction

The financial evolution that occurred decades ago is undoubtedly a good cause to economies and the population at large. However, one of the major perks is the inability to carry every individual along due to various reasons which may be generic or based on individual preferences. A large percentage of people have been unable to reconcile the differences in the current financial advancement. This has led to their disadvantage by losing out to several opportunities that should make them thrive better. Masa project steps into this "irreconcilable" situation to become a bridge of solution and connection to the vast amount of disadvantaged persons.

The Masa Project Initiative

Trade by barter was one of the major systems of traditional finance. Over time, the system evolved into better ways of exchanging goods for value. Yet, if we look through carefully, we are still in the system but in a more advanced method.

Masa is a staple food popularly known as corn or maize. It was significant in the development of civilizations. Several communities used it for making trades and achieving worldwide impact. With time, people needed better ways of getting credits and those who couldn't were left behind in the economic development and financial liberation.

As a result, the financial platform called Masa was put in place to asist the unbanked and credit hidden across the globe in their billions. With Masa Finance, management of individual finance, access to loans with no need for collateral, and the generation of decentralized credit record are encouraged. When there is access to the aforementioned products and services, Masa holds strongly that is a foundational step for creating wealth for individuals and building the community just as Masa was responsible for economy boost in time back.

Masa Solutions to Challenges such as:

Credit Scores

The credit records are siloed alongside the market within a decentralized finance system to hinder them from getting to the major markets for lending because of the absence of significant credit tools that have the ability to measure scores trustlessly and calculate real time risks in Decentralized finance credit and smart contract usage.

Usability and Access for Developers

Presently, middleware to connect traditional finance with decentralized finance is unavailable. The developer is also prevented from gaining entry to encrypted financial information for smart contracts. So, developers cannot use the system due to restrictions.

Loans without Collaterals

A great percentage of platforms that allow lending in decentralized financial systems involve collateral. It is under collateralized systems or over collateralized systems whereby an individual requesting for a loan is required to input collateral which may be Bitcoin or Ethereum to receive a loan at LTV ratio (a specific Loan to Value). For the decentralized financial mainstream system to be different, loans should be collateralized or undercollateralized and available for individuals who are credit worthy and in search of improved credit conditions than the banks.

Since 2017, lending without collateral has proved very difficult. The above challenges have posed serious threats in adopting decentralized finance systems. Hence, when the infrastructures for credits are easily available to defi credit markets, decentralized finance platforms will be able to launch a wider category of credit usage applications to push the mainstream DeFi. This will open its household lending demand to $2.5 trillion.

What is Masa's Goal?

Masa finance offers a personal financial administration interface to establishments and individuals which facilitates the safe accumulation of on-chain and off-chain data to measure a credit score that is shareable in decentralization. Web3 is the technology through which Masa aims to connect people to various opportunities. It is about giving people the power to control rather than technological companies and traditional banking systems.

The upgrade of Masa from 1.0 to 2.0 puts it ahead of others as the first platform to create bridges for assisting individuals across the globe to enjoy access to the recent Web3 system via the Soulbound Identity feature. Empowering developers and users with Masa's Soulbound identification worldwide is the foundation to creating a decentralized community.

Masa's launching already gave support to seven nations with worldwide cryptocurrency range, and conventional financial information integrations. This gave expansion to a 3.3 billion market via credit infrastructure.

Conclusion

Masa upgrade underwent study and research hence, the team obtained clarity that for its billion users goal, the web3 has to be user-friendly, private, and organized to regulate identity on-chain. Masa finance is the best opportunity for individuals to get connected to ample life changing opportunities, be in tune with global activities and have a system of advantage.