Sep 9, 2018
NEL, which stands for New Economy Ledger, will be the first microfinance lending platform aimed at developing countries, based on the NEM blockchain technology. The NEL Foundation will disrupt the microfinance world with the cutting-edge technology and efficient processes,inherent in the blockchain-based NEL ecosystem.
Through bypassing banks and their high fees in this financial sector, relatively unknown to theprivate individuals, and offering practical solutions to the loss of productivity suffered by the microfinance organizations, NEL users will be able to lend with no risk to developingcommunities while earning interest. The interest rates proposed to the borrowers will be more ethical than the ones currently offered by institutions, while the lenders will enjoy solid returns.
The NEL ecosystem will be accessible through the NEL platform and via the dedicated mobile application NEL Wallet. NEL Wallet will be the only cryptocurrency wallet allowing lenders to earn money by financing microfinance institutions.
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