Well, firstly, I must admit that South Korea is one hotbed for crypto solutions. We all are avidly looking towards the U.S. or even Russia for cryptos but South Korea is silently taking the lead.
Now, coming to the micro-banking solution, how cool is that? I mean, one of the issues for banks is to give out a small loan and if they do so, the paperwork still remains the same and the cost per loan shoots up. What I mean is, I can give a USD 100 loan or USD 250,000 loan, the paperwork almost remains the same. But bring in crypto and the equation changes... Everything automated, all loans (or financing) can be tokenized and tracked to the source, and easy adoption. It was an obvious development to happen but did not happen so far... Thank God, South Korea took the lead!
I can just imagine the use cases for such microfinancing blockchain solution across South Asia, Africa, and the Middle East. This is where most of the poor population of the world live and this where it will help to bring people out of poverty. Kudos to the solution and I am just mesmerized at what blockchain can do.
Just came out of another video talking about tokenizing a building (a physical asset)... The concept of ownership of an asset is going to change! :)