Friday
November 2
2018

Banker proposes new blockchain technology for African market

Until now, various technological issues have held back large-scale consumer adoption of blockchain technology. Many early adopters have abandoned Bitcoin, Ripple and Ethereum due to poor user experience.

A new mobile phone blockchain network is under development and is projected to acquire large-scale consumer adoption in Sub-Saharan Africa by 2021.

DéMars (DMC), a mobile money platform and new blockchain protocol for the young emerging market is said to be the first of its kind developed in Africa.

“I started researching the entry-level market and I was simply blown away to learn that 1.7 billion adults don’t have access to basic financial services and to learn that in the remittance space, families are paying about 45 billion US dollars a year in fees on the funds they are sending home,” says the founder of DMC, Shaun Burrow.

Photo courtesy of Christian Ditaputratama.

Source: Standard Digital (link opens in a new window)

Categories
Finance, Technology
Tags
blockchain, digital payments, emerging markets, financial innovation, financial services, fintech, mobile money