In the continuous swirl of titles that seem to confuse and merge crypts, blockchains and developing nations , A series of collaborations has been distinguished between large technological companies, traditional financial institutions (FI) and finotectic companies.
At the end of August, the IBM computer manufacturing company announced it had introduced a blockchain-based payment system, with offers that border transactions. That system is called World Wire and must be run on the Stellar network. The companies said the benefits "include faster processing of payments (simultaneous clearing and settlement), lower costs, greater efficiency and simplified forms of payment and type of business, with 97 percent of the world's largest banks as customers of IBM, it remains little doubt that their new flagship payments system will not be heavily advertised for their customers and existing customer base. "
Linkup is advertised as one that allows finance companies regulate cross-border payments in a few seconds.
To this end, LumoXchange, a FinTech with an emphasis on payments, also declared in late August that it had launched its money-transfer service focused on the Philippines. As reported by Crowdfund Insider, the company platform allows users to compare exchange rates for cross-border payments. The platform has had the support and collaboration of the likes of the Development Bank of the Philippines and has banking partners such as Banco de Oro (BDO) and the Land Bank of the Philippines. This is a bank owned by the government
Payment Initiatives in Africa
Separately, Finserve, a wholly owned subsidiary of Equity Group, announced its launch in August and is offering Jenga API and Jenga Road Casello. As noted on BitcoinKE, the gateway is geared to helping companies connect to a "more robust" payment infrastructure that spans several countries and allows companies to accept payments in their corporate accounts. The gateway can accept payments from over 180 countries. As for the API, developers can integrate FinTech services into apps and platforms, with mobile money offerings in six African countries and integrated platforms that allow companies to manage accounts, send money and lead the customer (KYC) ) and anti-money laundering (AML) related activities.
As illustrated by the Finserve example, Africa continues to be an area of interest for renewed payment infrastructures.
Kenya, for example, is on track to launch a cryptocurrency blockchain intended for the logistics industry, known as the global TMX. This initiative focuses partly on the rationalization of activities in the import / export sector. According to allAfrica, in an interview with TMX CEO Anthony Njoroge, complaints mark the logistics sector, as companies report a loss of ownership during import activities. Blockchain technology, he said, could increase transparency among commercial enterprises.
"We are using blockchain technology to enhance cargo logistics activities to have [a] a more open, transparent and democratic process using a decentralized system, where all users are able to talk to each other on an open platform. ", said Njoroge.
The blockchain offers binary through which import companies will be able to find online stores through several thousand options, enlist shipping services and track documentation among businesses. The first part of the initiative will be completed at the end of September and should be fully available by May 2018, reporting all of Africa.
Blockchain news focused on logistics comes on the heels of reports that Kenyan banks are trying to get regulatory approval to get help from the blockchain, both to facilitate payments and to help develop models credit scoring. The Kenyan central bank said in a report in August that there are risks in the adoption of distributed ledger technology (DLP), including the risk of fraud
As the bank said in its report, "C & There is, therefore, the need to ensure that robust controls are in place to ensure that the risks and opportunities associated with emerging technologies are balanced. "