New technologies in financial matters broke into the traditional system showing new opportunities, but also exposing old deficiencies. Blockchain technology, in particular, has raised the flag of financial inclusion in a world where economic marginality is part of the everyday scenario. In this sense, several international organizations decided to launch new initiatives to confront the scourge.
In recent days, UNICEF announced new investments in startups from different parts of the world that intend to work to create a more equal and inclusive system, in view of the future of millions of children. These are seven blockchain companies, among which one of Argentine origin stands out: Xcapit.
Along with the national company there will also be firms from Mexico (BX Smart Labs), India (GovBlocks), Rwanda (Leaf Global Fintech), Nepal (Rumsan) and two from Kenya (Grassroots Economics and KotaniPay), which will receive up to $ 100,000 per share. UNICEF to shore up their solutions.
The companies in question were not chosen at random, but rather stood out among 450 proposals from 77 countries. According to the agency, five of those companies chose to receive part of the financing in Ether (ETH).
In its statement, UNICEF Ventures – the foundation of the organization that since 2016 invests in early-stage companies to promote innovative solutions to global problems – highlights three particular advantages of blockchain technology. In the first place, it highlights the “use of innovative financing models to distribute resources”; secondly, it highlights the “increase in the efficiency and transparency of internal processes”, and finally highlights the “incentive and promotion of the creation of open source digital public goods”.
The approach to achieve this is through research and prototyping with internal and external stakeholders.
In this way, UNICEF will rely on blockchain technology to address the immense marginality of the global banking system, which currently has 1.7 billion people without access to basic financial services (such as a bank account) around the world.