Zimbabwean Blockchain Start-up Collaborates with South African Remittance Platform to Provide Digital Identity and Remittance Services
On March 1, the Zimbabwean blockchain start-up Flex ID and the Whatsapp remittance platform Uhuru Wallet, headquartered in South Africa, said recently that the…
On March 1, the Zimbabwean blockchain start-up Flex ID and the Whatsapp remittance platform Uhuru Wallet, headquartered in South Africa, said recently that they had launched a platform to provide digital identity and remittance services for millions of Zimbabwean immigrants in South Africa. It is reported that the Flex ID co-founded by Victor Mapunga uses the Algorand blockchain, while the Uhuru wallet is built on the Stellar blockchain.
Blockchain start-up Flex ID and remittance platform Uhuru Wallet have reached cooperation
Interpretation of the news:
Zimbabwean start-up Flex ID recently announced its partnership with Uhuru Wallet, a South African remittance platform, to provide digital identity and remittance services for millions of Zimbabwean immigrants in South Africa. The service aims to simplify the remittance process and improve data security by utilizing blockchain technology.
Flex ID, co-founded by Victor Mapunga, has opted to use Algorand blockchain technology to provide digital identity services. Algorand is a decentralized blockchain that ensures security, scalability, and efficiency for building reliable applications. The platform offers fast transaction processing and consensus, ensuring that users’ data is kept private and secure.
Uhuru Wallet, based in South Africa, has chosen to build its remittance platform using Stellar blockchain technology. Stellar is an open-source, decentralized blockchain designed to provide fast and secure money transfers. Stellar has a distributed exchange, making it possible to convert one currency to another quickly.
The Flex ID and Uhuru Wallet service aims to provide secure, convenient, and affordable remittance services to Zimbabweans living in South Africa. Remittances are an essential part of Zimbabwe’s economy, with Zimbabweans in the diaspora sending significant amounts of money back home regularly.
The new service can help Zimbabweans save money by eliminating the high fees charged by traditional remittance services. The service also ensures that personal data is secure and protected from cybercrime, protecting the users’ privacy and confidentiality.
In conclusion, the collaboration between Flex ID and Uhuru Wallet is a significant development for Zimbabwean immigrants in South Africa. The service will provide them with a secure, convenient, and affordable way to send money back home while ensuring that their personal data is protected by blockchain technology. Overall, this initiative will contribute to the economy of Zimbabwe and strengthen the relationship between Zimbabwe and South Africa.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/4245/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
Meson Protocol Integrates with zkSync Era for Stable Currency Cross-Chain Transactions
On March 29, it was reported that the stable currency cross chain transaction protocol Meson newly supports zkSync Era. Users can trade other supported USDTs, USDCs, and BUSDs on t
-
What platform is on VeChain (Can VeChain rise to 1000 yuan)?
What platform is on VeChain? According to official sources, VeChain\’s technolog
-
SNX Purchases Signal Confidence in Synthetix Project
According to reports, according to online data analyst ember monitoring, in the past two days, 10 million USDCs were spent to purchase the addresses of 3.4 million SNXs from the Giant Whale. Today, another 5 million USDCs were used through AirSwap’s OTC to purchase 2.02 million SNXs from the Synthetix treasury, with an average price of $2.46. A giant whale has spent 15 million USDCs to purchase SNX in the past three days, with an average price of $2.76 Analysis based on this information:The recent news that 10 million USDC were spent to purchase the addresses of 3.4 million SNXs from a Giant Whale in the past two days signals growing confidence in the Synthetix project. Online data analyst ember monitoring reported that another 5 million USDC have also been used in an OTC purchase of 2.02 million SNXs from the Synthetix treasury at an average price of $2.46. This flurry of purchases is significant because it is indicative of…
-
What is LBTC Coin (Information about LBT Coin)
What is LBTC Coin? LBTC Coin is a virtual currency issued by Lbtcfe and is backe
-
Bitcoin’s Rise Due to Financial Instability and Regulatory Excess
According to reports, Matrixport, a cryptocurrency service provider, said in a report on Thursday that Bitcoin (BTC) benefited from the instability of the financial system, falling inflation made the Federal Reserve less tough, and regulatory excess hit stable currencies. With the persistence of these three trends, the price of Bitcoin may remain high and continue to rise. Investors have now awakened that the Federal Reserve’s interest rate policy has seriously damaged some investment portfolios and threatened the financial stability of the economy. Report: Regulators and central banks have classified Bitcoin as a commodity rather than a security Analysis based on this information:Cryptocurrency service provider Matrixport recently released a report stating that Bitcoin’s price rise is attributed to three major factors: financial system instability, falling of inflation rates, and regulatory excesses impacting stable currencies. These trends are expected to persist and push the value of Bitcoin even higher. One of the key factors contributing to Bitcoin’s growth is the instability of…
-
Full-network contract breach in Digital Currency amounting to US $83.8516 million in the past 24 hours
It is reported that the data of the full-network contract breach of digital currency shows that the full-network contract breach in the past 24 hours is US $83…
-
Nansen: Ethereum Unstaying withdrawal request needs to wait for more than 17 days
On April 19th, according to Nansen data, after the upgrade in Shanghai, Ethereum validators who request withdrawals will have to wait for more than 17 days to retrieve their pledge
-
IMF: Unprecedented global interest in CBDC
According to reports, Li Bo, Vice President of the International Monetary Fund (IMF), described the level of interest in the Central Bank\’s digital currency (CBDC) as \”unprecedente
-
360 Intelligent Brain: A Revolutionary AI Product for Enterprises
According to reports, 3600 officially announced that the artificial intelligence product matrix \”360 Intelligent Brain\” developed based on the 360GPT big model will be the first to
-
When can BCC be sold (When can fireworks be sold)
When can BCC be sold in 2019, the biggest indicator in the cryptocurrency indust
-
China’s Liaison Office in Hong Kong Monitoring Cryptocurrency Development
On February 21, Bloomberg reported that the official representatives of the Liaison Office of the Central People\’s Government in the Hong Kong Special Administ…
-
What does Big Fire Coin mean
What is the meaning of ‘big money’? The meaning of ‘big money’ is: when the market is not good, it can be used as’ soaring ‘or’ falling ‘. For example, many friends are now paying attention to the price increase of Bitcoin. However, due to the unstable market situation, many people are unable to invest in a timely manner. So there are two reasons for big money, one is to buy some Bitcoin assets during a bear market; The second reason is that if the market is too weak, they will choose to sell a portion, resulting in serious losses. Therefore, big money is also a way of profit or a means of speculation.
-
Celebrities Request Dismissal of FTX Class Action Lawsuit
On April 18th, according to a newly filed court motion, celebrities involved in promoting the cryptocurrency exchange FTX class action lawsuit have requested the court to dismiss t
-
Understanding the Koda NFT Split and VesselClaim on the Otherside Metaverse Project
On April 6th, Yuga Labs\’ metaverse project Otherside posted on social media stating that the Koda NFT split and VesselClaim have started, and only Otherseeds with Koda can split, b
-
A-share opening: Shenzhen Blockchain 50 Index fell 0.41%
According to news, the A-share market opened with the Shanghai Composite Index at 3337.06 points, a decrease of 0.03%, the Shenzhen Composite Index at 11783.68 points, a decrease o
-
Australian Start-up Launches Immersive Mastercard for Crypto Payments
It is reported that the Australian web3 start-up Immersve launched a new MasterCard product, enabling Australian and New Zealand users to use their Immersve Ma…