Fintech Company Finterra Launches in Kenya With Focus on Endowment Chain
Finterra, a Singapore-based FinTech company has launched its operations in Kenya 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 Finterra.
|Hamid Rashid CEO Finterra speaking to participants in Nairobi during the launch.|
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 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 T.V Channels.