Blockchain Makes Microfinance Accounting Foray in Burma Led by Infoteria and Tech Bureau of Japan
Developing countries present a huge opportunity which is hidden under veil of a problem in the form of the underbanked. Burma is one such emerging economy. In such countries providing banking services to those who have been the most ignored by mainstream economy can bring about significant benefits. In neighbouring Bangladesh, microfinance has been hailed as a great success and nearly 700 microfinance institutions are operational which have been disbursing Bangladesh Taka 647 billion to nearly 34 million active borrowers according to the think tank, Copenhagen Consensus. Burma as an....
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Tech Bureau Corp is one of the most prominent blockchain players in Japan, and their partnership with NEW will lead to the development of a new blockchain engine called Catapult. This new engine is an augmented and amended version of Mijin, which was also developed in partnership with NEM. The Catapult Blockchain Engine. Blockchain development in Japan seems to be firing on all cylinders these days, as the strengthened alliance between Tech Bureau Corp. and NEM leads to a next-generation project. Although Catapult was initially intended to be launched in 2014, various new features have....
MicroFinance Institutions (MFI), businesses and charities providing small loans to some of the world’s poorest people, have slowly but steadily been going digital. Antonio Separovic has been at the forefront of this with his company, Oradian, which provides database and accounting software for MFIs. Last year, Separovic went to Stellar’s San Francisco offices with a problem: all the MFIs he was working with had no way to send money quickly and easily between each other. “It takes 12 hours and a bus to move money from a microfinance institution (MFI) in Lagos to an MFI in the north of Nigeria.”