"We launched our blockchain solution at the Finance Indaba last year and now we can build a cryptocurrency, this is the catalyst which will enable us to get it to the $1 investment, which we believe will help bridge the wealth gap," says Scott Picken, founder and CEO of Wealth Migrate, a silver partner at the Finance Indaba Africa 2017 on 12 and 13 October 2017 at the Sandton Convention Centre in Johannesburg.
- Finance professionals and accountants register for the Finance Indaba for free with code FB2017!
Do you want to learn more about about Wealth Migrate is bridging the global wealth gap? Do you want to be informed about the latest and greatest in finance? Then don't miss the Finance Indaba Africa 2017.
In the coming weeks, we will be chatting to all the Indaba partners, asking them why they are joining the event and what their most important message for finance professionals is.
Why will you be present at the Finance Indaba?
"We chose to partner with the Finance Indaba because from previous experience, it is the number one FinTech event in Africa. We want to support that because we feel strongly about technology adoption on the African continent. Last year, we were finalists but we did not have an exhibition stand, this year we have taken the opportunity to showcase our platform, so we will be setting one up.
"A significant amount has changed in the last year, with a lot more people gaining a better understanding of the technology landscape, we are even seeing a shift in better understanding from the regulatory environment. The whole industry is moving from the perceptive phase to the disruptive phase. As people learn to trust, technology disruption will have a bigger impact on their lives. Our key objective for attending the event is to educate people around alternative ways to invest in global real estate by using technology."
What will you be talking about or showcasing?
"It's about informing and educating people on how they can invest in real estate in England, Australia, and America for as little as $1 000 and in South Africa, for R1 000. Previously these opportunities were only available to people with millions if not billions of US dollars. Through our technology we have enabled this opportunity for all investors."
What are in Wealth Migrate's plans for the future?
"We're about to launch an ICO which is a blockchain-based offering. So, we're effectively going to launch our own cryptocurrency based on real estate. Most people don't understand Bitcoin, however a rice farmer in china, a rickshaw driver in India, a goat herder in Africa, and investment banker in America, all understand real estate. The true value in doing this is having all the benefits of cryptocurrency and blockchain, and building it on an asset class that people understand.
"We'll be pre-launching our ICO at the Finance Indaba and we're going to be launching it in Q4 2017. It will be the first opportunity for people to be able get involved in global real estate, using cryptocurrency and blockchain."
What progress is Wealth Migrate making in terms of its goal of broadening access to property investment?
"We've made significant progress to date. When we started in October last year, the minimum investment was $10 000. During December, we dropped it to $1 000, and at the end of April this year, we dropped it to R1 000, for our South African Investment which is effectively $100. So, we believe we are on our way to our target of $1 investment. We launched our blockchain solution at the Finance Indaba last year and now we can build a cryptocurrency, this is the catalyst which will enable us to get it to the $1 investment, which we believe will help bridge the wealth gap."
Property has an emotional significance for many South Africans. Does Wealth Migrate consider this attachment in its strategic planning?
"I understand how emotive it is in South Africa, but yet only 12,9% of the world's population actually have access to real estate. The very pain that my fellow South Africans feel is the same pain which more than 80% of the world's population also feels. It is an equally important topic globally. We're very mindful of this - and it's at the core of why we do what we do. By providing people with access to global real estate investment ,we hope to empower them with the wealth creation and wealth protection that you can achieve through global real estate investment."
