🛠️Technological Foundations

Ada Exchange is a web application based on a robust and innovative technological infrastructure guaranteeing smooth and secure operations. This section details the key elements that constitute the foundation of our platform.

2.1 Cardano Blockchain 🌐

The Ada Exchange app is built on the Cardano blockchain, a third-generation blockchain known for its security and scalability. It offers smart contracts and an economically competitive pricing structure, making it ideal for our goal of financial inclusion in Africa.

2.2 Mobile Money 📲

Mobile Money, also known as "e-wallet", is a financial service that allows users in Africa to store, send and receive money via their mobile phone. It acts as a virtual bank account accessible from any mobile phone, even without an Internet connection. Through this service, users can carry out financial transactions easily using just a phone number.

How Does It Work?

How Mobile Money works is quite simple. The user registers with a Mobile Money service provider, usually a telecommunications company or financial institution, by purchasing a SIM card. Once registered, the user deposits real money into their Mobile Money account through an authorized agent or using special outlets. Once the money is deposited, it is converted into virtual units or electronic credit.
Basically Mobile money services in Africa work almost like banks, with the difference that the services are fast and easily accessible unlike banks.

Impact of Mobile Money services in Africa

Mobile money services have seen mass adoption in Africa, where they have become an essential part of the financial market. Limited access to traditional banking services has contributed to the popularity of Mobile Money in Africa, where it allows the unbanked population to easily access basic financial services (send-receive and withdraw money).

Many Mobile Money service providers operate in Africa, offering solutions tailored to local needs. Today, the services offered have evolved so much that users can use Mobile Money for everything from receiving their salary to paying daily expenses, paying bills and making online purchases. In a country like Kenya for example, it even becomes very difficult to use cash given that everyone only uses Mobile Money, from low income to high income individuals.

The integration of Mobile Money into the Ada Exchange application aims to provide African users with an even more convenient and accessible solution for converting the ADA they receive into local currency that can be used locally. This integration reinforces our commitment to contributing to the promotion of financial inclusion in Africa.

2.3 Top-Notch Security 🔒

Security is our top priority. The Ada Exchange App implements state-of-the-art security protocols, including robust authentication, end-to-end encryption, and measures to guard against fraudulent attacks.

2.4 User-friendly interfaces 🎨

We have designed our platform with user-friendly interfaces to allow users of all categories to easily use the platform to carry out transactions.

2.5 Smart Contracts 💡

Smart contracts on the Cardano blockchain enable secure and transparent transactions. Our platform uses these contracts to facilitate exchanges between ADA and local currencies.

2.6 Stability and Reliability 🌐

Our infrastructure is designed to guarantee maximum availability of available features, thus providing a pleasant user experience.