Secretum, a high-performance privacy-focused crypto ecosystem on Solana, is set to ride the crypto euphoria and messaging boom in some emerging economies.
Africa and Asia lead the way in crypto in 2021
"Banking for the unbanked" remains one of the most impressive yet challenging use cases for cryptocurrencies since the first days of its massive adoption.
Distributed peer-to-peer value transfer tools can change the narrative for nations and states that are lacking transparent, resource-efficient and low-cost financial institutions.
Out of the top 10 countries ranked by the share of population that holds either Bitcoin (BTC) or altcoins, six leaders are located in Asia and Africa.
As per the latest estimations, between July 2020 and June 2021, citizens of African countries moved $105 billion in digital assets, which is 1,200% larger than one year ago. One in three Nigerians and one in five Vietnamese holds cryptocurrency, which is 4-5 times higher than this indicator for developed countries.
This impressive upsurge is driven by a combination of catalysts: the never-ending decrease in the buying power of local currencies, lack of trust in formal banking institutions, an insufficient number of bank offices, high commissions for cross-border remittances and so on.
And here comes Secretum to the party.
Why is Secretum a solution for the unbanked?
Launched in 2021, Solana-based multi-functional application Secretum combines a messaging service, a noncustodial crypto wallet, an NFT marketplace and an OTC trading platform.
The growth in mobile communications and internet connectivity is increasing the amount of data transmitted and stored. Together with it data leaks are increasing.— SecretumApp (@AppSecretum) December 21, 2021
The world is looking for safe solutions ? and one of them is Secretum
Find more ?? https://t.co/oWJF3XCpvu pic.twitter.com/eIsscc5gTH
As covered by U.Today previously, its mechanism is 100% decentralized: the entire set of processes relies on node infrastructure. The developers of Secretum prioritized a "mobile-first" approach so that all of its operations are available on the go.
It also explores the opportunities opened up by the red-hot segment of non-fungible tokens. Secretum provides a toolkit for storing and sending Solana-based NFTs of all types.
Also, Secretum works like a secure peer-to-peer messenger: its clients can instantly send text messages with zero fees. Unlike centralized heavyweights WhatsApp and Telegram, messages on Secretum are protected from data leaks.
As cryptocurrencies and peer-to-peer technologies gained impressive popularity in Africa and Asia, the Secretum team is highly focused on aggressive expansion into both regions.