Nairobi, Kenya – Finterra is pleased to announce that we have officially launched our fintech services in Kenya today. The block chain summit last month inspired our entry to the Kenyan market where we noticed increased interest and uses cases in sectors that would benefit from the blockchain technology.
Kenya is the first country in Africa to set shop in. Finterra’s motivation to launch their services here in Kenya is due to the technology advancement and high rate of adoption of new technology case in point M-PESA.
“Surprisingly very many institutions are running on block chain, the New York stock exchange, standard chartered bank remittances and Singapore airlines all run on blockchain technologies. There many use cases coming up, which will bring blockchain to the mainstream giving value to the technology,” Hamid Rashid, CEO of Finterra.
Finterra is set to meet with various stakeholders and regulators in the country and discuss more on blockchain technology user cases and streamlining efficiency.
“I hope to share with the regulators that they should not to worry about the technology, earlier use cases where initial coin offers (ICO’s) were raised outside the regulatory frame work and social security’s which money laundering activities,” Hamid Rashid, CEO of Finterra.
“Finterra has been in operation for the last six months with about 400,000+ users on the platform, with registered presence in 5 countries namely Singapore, Kuala Lumpur, Hong Kong, Abu Dhabi and New York,” adds Mr. Rashid.
The Fintech company plan to introduce Land management and Ecommerce use cases in the country.
Land registries will be able to run on blockchain technology doing away with cases of duplication of title deeds under different names.
“To make the best use of these endowed gifts, the Endowment Chain allows participants to create project proposals to develop and invigorate endowment properties. Others can fund these project proposals by contributing funds. If the project goals are met, the project proposal is accepted and a certain number of Endowment tokens are created and distributed to the participating funders,” Hamid Rashid, CEO of Finterra.
The e-commerce platform Finterra subscribers will be able to exchange goods or services online without having to deal with of time or distance. The company will partner with telco services, carriers, hotels and pre-pay TV Channels.
Finterra aims to be a global leader in next generation Fintech, providing “Social Solutions for Blockchain”. We are committed to the continuous growth of our community and the technical advancement of the Finterra Blockchain model. Our ongoing purpose is to promote community growth and development, offering a truly global, fully inclusive platform, bridging the gap between consumers and providers through multiple services that include an Open Source Development platform, Loyalty Points Exchange and an environment that supports the development of Endowment (WAQF) assets.
The Foundation is headquartered in Geneva with satellite offices and teams across Singapore, Kuala Lumpur, Hong Kong, Abu Dhabi and New York.