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## The Problem with Finance Intermediaries that Blockchain Systems can Solve

While many are shouting that crypto is scam, the adoption of crypto is gaining momentum world over. On daily basis, many people are realizing why they need to be in total control of their finances and why they need no intermediary financial services. The typical scenario we've had in Nigeria over the last 2 months has really proven how badly Africa needs crypto micropayment services. The Central bank of Nigeria had drafted a cashless policy that put new money in circulation and retrieved the old design. The situation was poorly managed due to greed of politicians such that the cash in banks were not enough for the masses. It got worse to the point that you have to buy you Nigerian Naira (cash) for double of its value. That is, you transfer NGN 10,000 to get NGN 5,000 cash.

Over this period, communication networks has been so poor that transfers even with point of Sale (POS)  get hanging. That is, the buyer gets debited but the seller doesn't get funded. Several failed transactions happen daily. The hardship here has been untold for the past two months. It only clearly showed how we dearly need decentralized and blockchain based payment system, such as hive with 3 seconds transactions. **I tried to explained to a friend that there has never been a time I transferred funds from Hive wallet to another and it left mine without reflecting in recipient's wallet. It happens within 3 seconds.** That sounded so unbelievable. Great thing it would be if a payment system was built on the Hive blockchain, better if we had a crypto card payment system.


![image.png](https://images.hive.blog/DQmTWcJrno2oW365zugTVX8sb4WT9mLxfpnvTqgSerJUkz6/image.png)

## Crypto Adoption is Growing

It was so exciting to read that [Colombians can now use Crypto Prepaid Cards](https://news.bitcoin.com/binance-launches-prepaid-card-in-colombia/) powered by Binance and Movii as covered by Bitcoin.com news.

> Binance, the cryptocurrency exchange, has launched a prepaid cryptocurrency card in Colombia, expanding its reach in Latam. The card, which will allow customers with their identity verified to make payments with crypto, establishes the country as one of the leading markets for the exchange in Latam behind Brazil and Argentina...The company announced the launch of a new prepaid cryptocurrency-linked card, that will allow users to pay with crypto in all merchants accepting standard debit and credit cards.

Movii, the Colombian neobank that also issues its own Mastercard card to the citizens of Columbia has enhanced crypto adoption in the nation and that would give massive exposures to the currencies supported by the card including BNB, BTC, ETH, ADA, DOT, SOL, SHIB, XRP, MATIC, LINK, and other stablecoins. The configuration allows the card user to choose which currencies he needs to pay with. I just imagined HBD among the stablecoins that Movii is listing in its Mastercard.

Colombia follows Argentina and Brazil as the third country that sees the release of a card product from Binance. Argentina saw the release of a similar card in August 2022, being the first market in which Binance entered with this product. The exchange released another prepaid card product in Brazil in February 2023.

This is the beginning of another era in crypto adoption and utilization. Binance's success is paving way for other exchanges to also create card payment systems that would enhance the acceptance of cryptocurrencies by merchants.


## When HBD in Card payment systems?
The hive blockchain is making some slow but steady growth in the cryptosphere. From the firmness of its stablecoin - HBD with 20% APR on saving to a growing number of dapps serving diverse niches and services. Recent is the [LeoThreads](https://alpha.leofinance.io/) for microblogging being a web3 alternative to Twitter.

We anticipate that after 5 years as the oldest algo-stablecoin, Binance would find reasons to list HBD to give it more exposure where Binance is facilitating crypto payments. Beyond that, creating a micropayment system well interfaced with fiat (with HBD at the backend) would be another big and selling dapp for Hive.

We hope that soon, HBD and Hive would be listed among such cryptocurrencies that people would be glad to use on daily basis for transactions.

It can only get better.





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![image.png](https://images.hive.blog/DQmVWxTuPrcTqHuFLzvkTvjKC9kCrW9rP16UmVGqb2784fo/image.png)

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### What is LeoFinance?
> [LeoFinance](https://leofinance.io/) is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH and Polygon blockchains. Our flagship application: [LeoFinance.io](https://leofinance.io) allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.



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