"There is a lot of hyperbole about blockchain right now: blockchain will change everything and become the beating heart of finance. Finance is a big thing for blockchain. Banks have a lot of interest in the potential for cross-border remittances, for instance. There are many other applications. Blockchain can replace letters of credit and be used for smart contracts. I think it is going to create new business models and surprise us," says BankyMoon CEO Lorien Gamaroff.
BankyMoon,which provides blockchain-powered solutions and services, was edged to the honours in the hotly contested Blockchain & Bitcoin category by the Sun Exchange at the African FinTech Awards at the Finance Indaba Africa 2016 in October.
In his pitch at the FinTech Awards, Lorien spoke about his company's innovative crowd-funding platform for poor schools across Africa, which sees blockchain meters installed which are able to accept donations from foreign donors. The company's Centbee app, billed as the world's first consumer-friendly bitcoin wallet, offers integrated merchant and consumer services, allowing for easy payments.
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- Nominate your company for the African FinTech Awards 2017.
The African FinTech Awards celebrate innovators that shape the future of finance, and acknowledges the work these companies are doing to have a positive impact on their target markets. The nominees were chosen by a panel of industry experts, stakeholders and investors from all over the world, who selected the three finalists in six categories to deliver their pitch at the Indaba.
The Finance Indaba is the biggest annual event on the continent for financial managers and specialists who are seeking partnerships to drive progress. Thousands of delegates will gain valuable insights into realising financial performance and growth, becoming more efficient and accessing funding, among a host of other opportunities from leading players in financial services.