According to the latest statistics, approximately 4 billion people worldwide are unable to access the banking system, with over 5.6 billion people excluded from the Swift system. These populations are mainly distributed in developing countries and regions, facing economic difficulties due to financial exclusion, unable to carry out basic financial transactions, savings, investments, or access loans and other financial services from formal financial institutions.
Financial exclusion not only limits the development of individuals and families but also has a negative impact on the overall society and economy. The lack of financial services means that these people are unable to effectively participate in economic activities, which constrains their income growth and opportunities for an improved life. Traditional financial systems are unable to cover these excluded populations due to high costs, inadequate infrastructure, and regulatory restrictions. Therefore, finding a new solution to break financial exclusion has become a focus of global attention.
Based on the Biton abstract network, the Depin application device has emerged.
In response to the global financial exclusion, Biton will develop the DePin application phone based on the Biton abstract network, with the wallet product as the foundation. Users can directly use the Biton wallet function in the phone to achieve permissionless asset exchange and transactions.
Biton’s DePin application phone utilizes decentralized technology to achieve permissionless asset exchange and transactions. This means that users do not need to rely on any centralized institution to freely conduct financial transactions. This approach will break the monopoly of traditional financial systems, allowing everyone to equally participate in financial activities. Specifically, users can exchange assets between different blockchain networks through the DePin application phone without using centralized exchanges, reducing transaction costs and time. Additionally, users can freely buy and sell digital assets, including cryptocurrencies and tokens, achieving borderless financial transactions.
Providing new financial security means for users unable to use traditional banking systems
The DePin application phone by Biton provides new financial security means for users unable to use traditional banking systems. Through decentralized technology, the DePin application phone enables financial services to cover every corner of the globe, whether it’s remote rural areas or underdeveloped urban areas. As long as there is an internet connection, users can use the DePin application phone for financial transactions and asset management.
The high cost of traditional financial systems is one of the main reasons for financial exclusion, and the DePin application phone, through decentralized technology, significantly reduces the cost of financial transactions and services, making it affordable for low-income populations. The decentralized trading method eliminates the involvement of intermediaries, improving transaction efficiency and speed. Users can complete asset exchanges and transactions within seconds, no longer constrained by the cumbersome processes and long waiting times of traditional financial systems.
Through blockchain technology, the DePin application phone ensures the transparency and tamper resistance of every transaction, protecting user assets. The network structure also makes the system more resistant to attacks and failures. With these innovative advantages, Biton’s DePin application phone will provide new financial security means for users unable to use traditional banking systems, helping them overcome financial exclusion and achieve economic independence and development.
Biton wallet function: Participate in AI-based liquidity provision to obtain secure financial income
Biton also helps users achieve automated liquidity provision and financial income through its unique wallet function. While using the DePin application phone, users can participate in AI-based liquidity provision through the Biton wallet function.
Developed based on the abstract network, the Biton wallet allows users to choose whether to apply Biton’s AI products for automated liquidity provision. Through smart contracts, the AI product will automatically manage funds and distribute profits, allowing users to easily obtain stable financial income.
In the entire ecosystem, the ONON token plays a crucial role. Users can stake the ONON tokens in the DePin application phone to become a validation node in the network. The staked ONON tokens will support the operation and maintenance of the Biton abstract network. Users will receive corresponding profits based on the staked ONON token quantity and provided computing power. These profits can be in the form of ONON tokens or other rewards. This staking and profit mechanism will increase user motivation to hold ONON tokens and provide security for the stable operation of the Biton abstract network.
Driving the financial ecosystem revolution: Future prospects of the DePin application
As the Biton market continues to grow and the Depin technology expands, the DePin application phone will gradually cover more countries and regions, providing financial services to more users worldwide, achieving true financial inclusion. Through continuous optimization and technological upgrades, Biton will enhance the security, efficiency, and user experience of the DePin application, further reducing the cost and threshold of financial transactions.
At the same time, Biton will continue to expand its ecosystem, collaborating with more partners and projects to enrich the functionality and services of the DePin application, meeting the diverse financial needs of users and driving the future of inclusive finance.
