Stellar Plans To Improve MicroFinance Industry
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.”
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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....
Stellar Development Foundation is a nonprofit organization working on bringing banking and financial services to the unbanked across the world. A simple Google search is enough to know that there are over 2.5 billion unbanked adults across the world. These people don't have access to, or don't use banks or any microfinance institutions to manage their money. Most of the unbanked population are from the developing countries in African, Asian and South American continents. The unbanked population in these regions do not have access financial institutions or services for multiple reasons.....
The gap between the bitcoin world and Wall Street is seemingly closing. Multinational financial services outfit Morgan Stanley is reportedly hosting a bitcoin event on Thursday at their New York City headquarters, according to a report from MarketWatch. The event is said to focus on the topic of microfinance, in a panel organized by the MicroFinance Club of New York and featuring presentations by bitcoin supporters Marco Santori, Juan Llanos, and Rik Willard. The panel, entitled Digital Currencies in Microfinance: Their impact on remittances and financial inclusion will be open to....
Although it has yet to overtake Ripple, Jed McCaleb's Stellar has performed respectably in its first several months. The payment gateway's native currency has consistently remained in the top-twenty on the market cap charts. However, the stellar price has not been living up to its name over the past couple weeks. Also read: Stellar Price Rises Despite Bitcion Price Drop. Stellar Price Reaches Three-Week Low. On October 9, the stellar price fell to 662 satoshis, which marked a three-week low for Ripple co-founder Jed McCaleb's latest altcoin project. As recently as September 29, the stellar....
It is positive to see this experiment being completed successfully. There have been some questions regarding the scalability of blockchain solutions in the financial sector. Mijin can handle close to 100,000 transactions per second, making it more suitable for transfers taking place in quick succession. Blockchain technology has been captivating audiences all over the world. For the longest time, it has been a matter of when the technology would be introduced in the financial sector. Myanmar may become one of the world’s first countries to implement DLTs. A new partnership between....