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Blockchain-Based Banking for African Entrepreneurs

A blockchain-powered initiative is set for launch in a collaboration between digital platform iVEDiX; Papersoft Africa, a subordinate company of Papersoft DMS; and a number of experienced bankers, aiming to provide highly improved banking services for individuals as well as entrepreneurs.


 

The main goal of the banking service is to implement a network of transactions that don't require the use of cash for African entrepreneurs, leveraged by blockchain tech integrated within the digital framework. Once implemented, the bank solution should assist up to millions of business-owners working in the region. The improved service will be first released in the Democratic Republic of Congo, and also in Somalia.

The innovative group’s vision for the project is to have it as an alternative solution to conventional financial networks. Digital cash and the e-banking platform will be available to every user through their smartphones and entrepreneurs will be able to access funds easily.

Better Banking

The initiative’s main focus is working in Africa and have the system compatible with the nation’s particular economic requirements. Government companies and private firms are already in cooperation with the company to produce the main objectives of the project. The mobile-based platform should make banking services easily accessible to millions of people who at this time cannot access such services. The initiative will increase opportunities for employment in Africa and build more sources of income in many sectors such as mining, finance, and farming, among many others.

The president of the CNJE, Serge Nawej, has expressed his excitement about this new collaboration that has been in the inception phase for the past 4 years, and will really empower the financial district and help many young entrepreneurs in the region.

Nawej, a main shareholder at Papersoft Africa, also expressed that this blockchain-powered project will change the world of entrepreneurship in African countries.

The  Chief Executive Officer of the platform iVEDiX, Rajesh Kutty, also stated that integrating the available proven techs and proficient knowledge behind the digital platform combined with PPS-DMS, backed up by exceptional bankers, will produce a new, innovative fully adaptable technology-based financial structure; the project will solve the most pressing of challenges facing a great number of entrepreneurs in the region. Darin Pastor, Chief Executive Officer and chairman of Capstone Group based in the United States, will be leading the group of bankers.

9 months ago

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