Creditcoin (CTC), Spacecoin (SPACE), Sui (SUI), and Walrus (WLRS), four blockchain platforms, have partnered up to promote global decentralized finance (DeFi) by improving connectivity and bringing financial services to remote regions, as per the reports shared with Finbold on Thursday, December 5.
Decentralized finance in underserved regions
Each partner brings their own unique expertise to the table.
Creditcoin will lay the financial groundwork to create a blockchain-based ecosystem conducive to secure lending and borrowing.
Picks for you
Spacecoin, on the other hand, focuses on connectivity by deploying advanced satellite technology to deliver internet access to underserved regions.
Sui, a smart contract platform, is responsible for scalable and secure computing, while Walrus ensures efficient data management and decentralized storage availability.
How Creditcoin, Spacecoin, Sui, and Walrus can work together
Together, all parties can work on delivering a cohesive system and tackle challenges such as the lack of internet access and limited financial inclusion in certain areas.
As mentioned, Spacecoin’s satellite network will provide connectivity in regions where the necessary infrastructure is lacking, allowing Creditcoin users worldwide to execute transactions more safely.
In the meanwhile, Sui and Walrus scalability solutions are expected to streamline peer-to-peer (P2P) financial interactions and data sharing without centralized intermediaries.
Most importantly, the P2P module is expected to reduce operational costs and enhance transparency in the process.
As such, the partnership aims to address the needs of the 37% of the global population that remains offline and/or underbanked.
New global avenues in DeFi
By integrating connectivity with DeFi solutions, the partnership opens up new avenues for potential clients in remote regions.
New users will thus gain access to financial services and manage their assets online, fostering inclusivity and economic growth.
