Flipcra Financial Services
Flipcra - Currency Exchange, Leveraging On Escrow Systems
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Overview - A Short Story
Take for example a user named Jeremiah needs some foreign currencies. In a place like nigeria, the way to go about this is through bureau de change agents. These agents, called mallams (popular word in Nigeria for Islam males) stay by the roadside to give currency equivalents to people like Jeremiah.
There are risks faced in the above scenario and they revolve around the following:
Little to no regulation hence the Bureau de change agents selling out dollars and other currencies at prices not within the CBN’s rate
Theft and Robbery possibilities. Furthermore, fake alerts could be used to foster these scandal. This is what makes Flipcra a valuable solution.
Where does Flipcra come in …
With an idea as raw as this, the opportunities and growth possibilities it brings along with it are enormous. An example could be growing into a or maybe regulatory system for registered Bureau de change organizations. Although the target for now is being an Aggregator for Bureau De Change Organizations
Flipcra is a unique solution in fiat transaction base as most escrow solutions are applied in crpyto and web3 solutions. A question will be, why hasn’t escrow been used in p2p currency exchange?
Acknowledgement
This continous progression of the descout project is credited to the talented and willing minds.
