# Nordek Overview: vision, strategy and platform components

Nordek is a decentralized blockchain-powered platform and technology stack with the goal of enabling genuine mass adoption of crypto payments and decentralized finance (DeFi).&#x20;

The project was launched in 2023 by a team previously involved in building a blockchain project aimed at promoting web3 adoption.

### The Problem

The existing financial system falls short of providing global access to fast, frictionless payments, attractive financial services, and passive income opportunities.&#x20;

This issue is especially prominent in developing countries, where hundreds of millions of people lack even basic banking services and face limited access to advanced financial opportunities. Additionally, they often have to transact using highly unstable fiat currencies prone to sudden and profound devaluation.&#x20;

However, even in the poorest countries, mobile phone adoption has surged, with more people in sub-Saharan Africa having access to mobile phones than clean drinking water.&#x20;

The rise of blockchain technology and cryptocurrencies has opened up the possibility for anyone on the planet to send and receive funds without relying on a centralized entity and utilizing stable currencies.

### What the crypto industry still lacks

Despite significant activity in the crypto space, including crypto asset markets, DeFi, and NFT sectors, genuine mass adoption of crypto payments and DeFi is still lacking.

Currently available products and tools have complicated and disjointed user experiences, primarily catering to sophisticated crypto users with substantial financial resources.

### How we go about it

At Nordek, our approach to bringing crypto payments and DeFi to the masses revolves around empowering other projects, businesses, organizations, and communities to adopt crypto payments and decentralized finance.

We achieve this by providing clients with convenient, **mobile-first tools for creating and managing token-powered environments**, as well as facilitating user onboarding and interaction.

### Platform Components

The Nordek platform consists of three main components:

1\) **The Nordek blockchain:** This EVM-compatible public blockchain serves as the decentralized, permissionless backbone of the Nordek platform and ecosystem.

2\) **The mobile-centric open-source technology stack:** Designed to assist businesses and developers in integrating crypto payments into real-world use cases, this toolkit has been incorporated into the new API platform.

3\) **A set of reference decentralized finance (DeFi) products and tools:** These products and tools aim to pave the way for initial adoption of the platform.
