Panerora

Panerora is a digital peer-to-peer payment system, allowing individuals to exchange funds at a fraction of the traditional cost and time from anywhere in the world. Panerora is an ERC-20 token, which is a smart contract utilizing the Ethereum chain. A smart contract is a protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract. These allow the performance of credible transactions without the intervention of a third party. These ERC-20 tokens can represent a wide variety of digital assets and are secure, quick, and can be utilized in numerous different ways. For Panerora, that purpose is building a secure, quick, and inexpensive means of transferring money to those who may be without banking services.

Panerora will offer a unique system, tailored to the needs of the African people. By establishing numerous local branches and partnering with otc exchanges, offering PNR to fiat conversion in these branches, and by operating off the Ethereum network, Panerora has alot to offer the African population. What Panerora enables is fast, inexpensive, cross-border money transfer. Say someone wanted to send money from France to a relative in Africa. They would have to first go to their bank, pay a fee, and then the bank would begin the long process of transferring this money to the individual in Africa. Not only would this take a long time, the recipient may have to travel a substantial distance to their own bank, or anywhere where they can collect this payment. 

Whats more, this may not even be possible due to the high number of unbanked individuals in general, citing the inconvenience of finding a branch as well as general mistrust for banks. How Panerora differs is mainly in the commitment in offering the best coverage with regional branches, but has key differences due to leveraging blockchain technology. With Panerora, the previous situation plays out rather differently. The person sending fiat converts to PNR, sending it from the comfort of their own home and paying next to nothing to do so. The PNR then arrives in seconds rather than days, allowing the recipient to then go to any local branch or over the counter exchanges to withdraw into the currency of their choosing. It is important to note that plans are in place for major financial bodies to transfer with Panerora in much the same manner, with the network able to support billions to trillions of dollars worth of transactions sent in mere seconds or minutes, rather than days.