LAGOS, NIGERIA / ACCESSWIRE / May 15, 2020 / For most countries across the globe, Small and Medium-sized Enterprises (SMEs) are the backbones of the economy. They not only contribute to the world economically but also are the major contributors to social developments as more than half of the world’s population works in such companies. For instance, more than 90% of the Dutch companies are SMEs and together they contribute to more than 60% value of the Dutch Economy. However, SMEs have no dearth of challenges to tackle so as to establish them.
From limited access to bank loans to inefficient payment procedures to limited business opportunities, countless problems have been haunting SMEs for ages. Unfortunately, these grave problems force more than 30% of SMEs to shut down in the first three years of operation. It has also been reported that more than 40% of the small businesses reported cash flow issues in past years. Today, technology holds the answer to all our troubles and the same is true for SMEs. Cowrium brings a revolution for the SME finance industry by addressing numerous challenges with its multidimensional Blockchain & Smart Contract innovation!
What is the Cowrium Platform?
The goal of Cowrium blockchain project is to help Small and Medium Enterprise to easily adopt comprehensive blockchain solutions to better reach thousands of customers. Basically, Cowrium is a Global Decentralized blockchain Network with Smart Contract as an inherent feature along with Interoperability, and Masternodes with AI Support for Crypto Stability that aims to bridge the Gap between Crypto & Fiat. The Cowrium platform has a multi-pillar foundation consisting of:
- A Decentralized Exchange (CowDE X),
- A DAP that allow you to send crypto and receive in fiat (ErrandBoy)
- multidimensional Smart Contract, and
- An Artificial Intelligence Crypto Stability Solution (Cowrie Stability Al).
What Problems does Cowrium Platform Solve?
Our multicurrency payment system deals with the problems SMEs face with the current payment gateway systems. The problems solved include the highly publicized High Credit/Debit card processing Fee charged from the retailers and the fraudulent chargebacks by buyers. The platform acts as a bridge between cryptocurrencies and fiat by solving the problem of major adoption of cryptos as an alternative to fiat. The Cowrium ecosystem deals with volatility in prices due to manipulations, high transaction fees due to increasing mining difficulty, and delayed transactions due to excess block confirmation time.
Understanding the Cowrium Solution
The Cowrium platform employs a dynamic fusion to fill up the quantum gap between the old and the new ledger of the Finance and Technological World by enabling consumers to make payments and merchants to accept payments in a cryptocurrency of their choice. The ecosystem’s use of “COWRIE STABILITY AI” is to make Cowrie Stabilize and protect it from any market volatility. The money transfer app “ERRANDBOY 1.0” enables users to send money in any cryptocurrency which is then converted to Fiat currency and sent to the recipient’s location, anywhere across the world.
At Cowrium, we have identified the problems of current financial infrastructure and built a strong, self-sustaining network to provide usability to SMEs for hurdle-less finance in the future. Therefore, Cowrium project is not just a blockchain but a new generation evolution of the economic system.
SOURCE: Cowrium Int Ltd
View source version on accesswire.com: