The Algorand Foundation, a blockchain ecosystem for developers, cooperates with Paycode, a supplier of biometric and offline digital payment systems, to improve the access of financial services in subordinated and remote regions.
Paycode is active in countries such as Afghanistan, Ghana, Zambia, Mozambique and the Democratic Republic of Congo, where many people remain outside the formal financial system. The cooperation will improve the safe digital identity, increase transparency and support access to financial tools by adding the Algorand Blockchain technology to the Paycode system.
Paycode currently supports more than 6 million users in eight countries. The platform is used to distribute more than $ 250 million in auxiliary and government payments through biometric identification, offline digital portfolios and real-time transaction options.
The partnership includes the hosting of parts of the Paycode system on Algorand, with a focus on transparent assistance, on stablecoin -based settlements and offline financial services. This effort supports the dedication of the Algorand Foundation to promote digital public infrastructure and to expand the financial inclusion in emerging markets.
Image: Freepik