SHANTI has announced that it’s launching in Cambodia. The project dedicated to bringing peace to the world through blockchain and crypto will make its services available to hundreds of thousands of Cambodians through this debut.
A key goal of the expansion is also to reduce poverty among Cambodia’s population by introducing NutsPay, a blockchain-based social lending project for the cashew nut market. As 80% of the country’s population cannot afford to own a bank account, NutsPay plans to bring financial inclusion through its platform.
SHANTI is the utility token for the project, and holders have many benefits to derive from it. These include a rising loan interest rate depending on the number of tokens held, preferential interest rates for borrowers, and a deflationary token.
Eventually, the project plans to develop a service that allows holders to exchange their tokens for real money when enough liquidity is available for SHANTI. This will also allow the token to be used for purposes such as grocery shopping, just like any currency.
Part of profits from the SHANTI platform will be used to buy back the tokens and they are burnt. This ensures that the token remains deflationary. Another way is that the project burns a portion of the fees incurred in exchanging SHANTI for digital money.
Once the project is up and running with lending and borrowing fully functional, the unbanked population of the world will be able to raise funds through SHANTI. By providing infrastructure for the exchange of social lending and digital money, the project is getting ready to become one of the leading blockchain companies in the world.
As part of a strategy to achieve this, the project is partnering with PancakeGames, an NFT platform project, and TTX, which also develops games. It is expected that billions of unbanked people will use this service and interested companies are already in discussions to adopt the application. SHANTI will provide financial services on the blockchain using DeFi and smart contracts and will soon make an announcement on its initial practical application.