Popular on Rezul
- Bert Taddei, Local Real Estate Agent Hires A Complete Professional Marketing Team
- Appeals Court Reverses Judge and Rules Against ACS
- New Trend: What is hotel style glamping
- @LinoLakes has a #homeforsale with amazing views!
- Bartlett Tree Experts Expands in Wilmington
- W.J. Castle, P.E. & Associates, P.C. Awarded Underwater Inspection/Surveying Six Long-Span Bridges New York State Bridge Authority
- Skin EX Introduces Their Latest Technology for Beauty Rejuvenation
- The Maui Luxury Team Can Help You Buy or Sell Maui Property
- Boston Industrial Solutions' silicone soft touch coating passes GLP - Skin Irritation test
- Paul Ormsby Appointed Vice President for Operations Support at STS Capital Partners
Similar on Rezul
- #SIDEGIGCON 2022 Teaches How to Recession-Proof Lifestyles with Side Gigs
- FCTI, Inc. Brings Aboard Bennett Robinson as New Vice President of Finance
- 65% of Today's Workforce Is Actively Looking for Another Job; Culture Over Everything Is the Solution
- Signs By Veterans and Savage Shakers Founder Announces Sponsorship for #TEAMUSA Para-Athlete Brian Conwell
- James Postrasija, CEO of Order Food Online on Platform Features/Benefits
- EPA's Renewable Fuel Standard Pathways Expand to Include Greasezilla® Advanced Biofuel as RIN-Qualified Feedstock
- Aspiring To Excellence Continues at Globe Star with CARF Accreditation
- JKS Financial Sponsors Program To Teach High School Students Investment Skills
- Virtual Workplace Platform Developer REACH Expands Executive Team, Positioning the Company to Drive International Growth
- GoodLoan.io announces new program to unlock up to $500,000 for Home Equity Investment
Blockchain Startup Aimed at Financial Inclusion Secures 25 Million Dollar Capital Commitment
Rezul News/10580771
Finance Blocks will focus on emerging markets and the unbanked.
WELLINGTON, Fla. - Rezul -- Doubling down on the push for inclusion in the global financial landscape, Finance Blocks, a blockchain-powered fintech platform aimed to promote financial inclusion for the unbanked, receives a 25 million dollar capital commitment from Global Emerging Markets to continue efforts to digitize rural financial institutions in emerging markets and promote accessibility, transparent banking services, and financial inclusion world-wide.
Co-founded in 2019 by Jake Seltzer, Finance Blocks was created to address the 25% of the world's total population that does not have access to basic financial services. The unbanked face exploitative repayment terms from informal moneylenders and lack identity documents, credit scores, and awareness about financial products. Finance tech sophistication, such as blockchain-powered digital products, historically has not reached rural financial institutions (RFIs) and the unbanked.
Now, the capital investment will propel Finance Blocks into even the most rural corners of the globe, such as India, Nigeria, Zimbabwe, Botswana, Kenya, and Ghana.
More on Rezul News
"These funds will allow us to continue developing our technology, expand our development team, onboard over three million users, create an intensive global marketing campaign, and allow charitable contributions of water and power to the areas in which we operate," said Seltzer.
Seltzer believes this technology will directly impact the global economy by way of the youth. Referring to them as "innovators of tomorrow," Seltzer believes financial and investing literacy will encourage higher education and break generational debt while creating new generations of middle class.
In its simplest form, Finance Blocks is a platform that will help RFIs switch from paper-based legacy systems to a secure, easy-to-use, and efficient digital system for all their processes. That allows RFIs to create unique digital identities for all their customers, compute their credit scores, manage their financial data, loans, fixed deposits (FDs), savings accounts, and more on a single platform. Users have an app that helps them stay instantaneously updated about their financial activity, such as withdrawals, deposits, transactions, loan equated monthly installments (EMIs), and interest on FDs. Based on the age of their account and financial activity, users are given Smart Credit Scores computed by blockchain-powered smart contracts.
More on Rezul News
Blockchain technology is an integral component of the solution Finance Blocks presents.
"Blockchain technology plays a crucial role in lifting people out of poverty and providing better services to the populations of low and middle-income countries. It is a system of recording information that makes it difficult or impossible to change, hack, or cheat the system. Think of blockchain as an incorruptible digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. This process can be transformative for low and middle-income countries as corruption is the single largest issue affecting the unbanked," says Seltzer.
Global digitization will help the unbanked achieve upward economic mobility by providing the right financial tools in their hands. RFIs are then empowered with the resources and infrastructure to achieve their aims. To learn more, visit https://financeblocks.io or email info@financeblocks.io.
Co-founded in 2019 by Jake Seltzer, Finance Blocks was created to address the 25% of the world's total population that does not have access to basic financial services. The unbanked face exploitative repayment terms from informal moneylenders and lack identity documents, credit scores, and awareness about financial products. Finance tech sophistication, such as blockchain-powered digital products, historically has not reached rural financial institutions (RFIs) and the unbanked.
Now, the capital investment will propel Finance Blocks into even the most rural corners of the globe, such as India, Nigeria, Zimbabwe, Botswana, Kenya, and Ghana.
More on Rezul News
- Fitness Management Partnership Actively Seeking Gym Sale-Leasebacks
- Morgan Seamark Joins Triggers® Brand Consulting As Managing Director
- Cleverly welcomes international real estate & facilities management expert Colin King on board
- Valerie Mallia Joins RE/MAX Alliance Group as a Member of the Alpha Team in Venice, Florida
- TheRapidsRoofers In Grand Rapids MI, Announce Longer Operating Hours To Keep Up With Demand
"These funds will allow us to continue developing our technology, expand our development team, onboard over three million users, create an intensive global marketing campaign, and allow charitable contributions of water and power to the areas in which we operate," said Seltzer.
Seltzer believes this technology will directly impact the global economy by way of the youth. Referring to them as "innovators of tomorrow," Seltzer believes financial and investing literacy will encourage higher education and break generational debt while creating new generations of middle class.
In its simplest form, Finance Blocks is a platform that will help RFIs switch from paper-based legacy systems to a secure, easy-to-use, and efficient digital system for all their processes. That allows RFIs to create unique digital identities for all their customers, compute their credit scores, manage their financial data, loans, fixed deposits (FDs), savings accounts, and more on a single platform. Users have an app that helps them stay instantaneously updated about their financial activity, such as withdrawals, deposits, transactions, loan equated monthly installments (EMIs), and interest on FDs. Based on the age of their account and financial activity, users are given Smart Credit Scores computed by blockchain-powered smart contracts.
More on Rezul News
- Milloret LTD To Offer Premium International SEO Services
- Summit County Pest Control Is Going After The American Cockroach
- Luxury Living Comes to Cottage Country with Upper Vista Muskoka
- Riverside At Belleville Selects Corner Property Management To Manage Condo Complex In Belleville NJ
- RE/MAX Alliance Group Associates in the Florida Tampa Bay Area Named Among "America's Best"
Blockchain technology is an integral component of the solution Finance Blocks presents.
"Blockchain technology plays a crucial role in lifting people out of poverty and providing better services to the populations of low and middle-income countries. It is a system of recording information that makes it difficult or impossible to change, hack, or cheat the system. Think of blockchain as an incorruptible digital ledger of transactions that is duplicated and distributed across the entire network of computer systems on the blockchain. This process can be transformative for low and middle-income countries as corruption is the single largest issue affecting the unbanked," says Seltzer.
Global digitization will help the unbanked achieve upward economic mobility by providing the right financial tools in their hands. RFIs are then empowered with the resources and infrastructure to achieve their aims. To learn more, visit https://financeblocks.io or email info@financeblocks.io.
Source: Finance Blocks
Filed Under: Business, Technology
0 Comments
Latest on Rezul News
- The Mogharebi Group Reps Buyer in Sale of Olympia, WA Apartment Community
- Gary Kevin Coats Raleigh, NC Top 10 Tips for Homebuyers
- Don Barnhart's "Unapologetically Funny" Comedy Tour Keeps Las Vegas Laughing With 50% Discount
- Craig W Brearley Architecture Transitions to New Ownership While Maintaining a Tradition of Architec
- Best Cocktails and Bar Food in Astoria, Queens
- How Massage Therapy Near You Frees Your Body Of Pain So You Move Better, Sleep Better, Feel Better, Without Back Pain, Neck Pain, Headaches, And More!
- BookingPal Integrates Airbnb Messaging to Launch New Communication Feature
- One company is disrupting Real Estate as a title company in Orlando
- New Factbook Delivers First Reference Compilation for 2022 Russia-Ukraine War
- Home inspection school offers pool inspection class to save lives and protect home buyers
- Jordan Chancey Earns Certified Waterfront Specialist (CWS) Designation
- Mutual Aid Ambulance Service Partners with Excela Health for Paramedic Training Program
- Total Real Estate Group to Celebrate the Grand Opening of their NW Crossing Office
- Austin Area Real Estate Agent Collects Tips for Teachers
- In2Scuba Diving Co. of Maui introduces its exclusive beginner scuba diving lessons
- DB Capital Acquires Second Multifamily Property in Denver Metro in a Month
- Streett Property Consultants and Douglas Morris named Garden City Realty's agents of the month
- Always Ontime: Chaos City - Super Hero Graphic Novel with Neal Adams Cover Launches from Panopolis Metaverse
- New Hampshire Becomes the 15th State to Require Personal Finance as a Core Academic Subject
- Virtual Workplace Platform Developer REACH Expands Executive Team, Positioning the Company to Drive International Growth