Swift borderless transactions in Africa
Communication has transcended the mere means of passing information from one person to another through any means possible.
It now involves the use of computers to transmit vital documents and information which can also be financial as the world evolves to a global village.
Financial services have struggled with the archaic method of moving funds as this would require the traditional swift methodology of wire transfers around the world. As responsive as it was in previous years, this financial system has proven to be slow and more expensive for moving funds across borders of various countries.
Small business owners and everyone who has financial dealings with financial institutions have much to complain about since the validation of almost every transaction can take a minimum of 4 days.
This involves using the swift technology to enable transactions for transfer across the world, not mentioning the challenges faced with language barrier in the documentation process especially when moving funds from an English country to a French speaking country and vise versa. These can be very cumbersome and limiting in nature to small business owners and individuals.
However, the advent of Blockchain technology and crypto currency has changed the dynamics of conducting business and financial transactions globally. The use of crypto currencies has proven to be a fast and cheaper means of carrying out financial transactions locally and internationally for both small and large businesses globally.
This has also fast-tracked the means of conducting businesses across the African continent as more people are becoming aware of the use of crypto currencies with some countries blazing the trail already in the crypto currencies space like Kenya, Nigeria, South Africa, Ghana, Ethiopia, Rwanda and other countries. Where cross border payments are now made seamlessly from the various language divide and financial methodology.
A typical example is a graphic artist from Ethiopia selling her products from the comfort of her home and the products are delivered to the buyers after confirmation of the payment which was literally in seconds upon which the payment was sent to the graphic artists. The products can be sent to the buyer immediately across borders as the financial transactions are confirmed swiftly from the ends of the receiver who is the graphical artist.
Klever is in the process of making Africa the hub for swift borderless transactions amongst small business owners and major larger corporations who are willing to adopt and embrace the use of crypto currency to facilitate their transactions.
This would be in the form of emancipating the people in Africa as they download the Klever wallet application and make judicious use of the various tools on the app. The team of support members are most pleased to engage and educate more people from Africa to help them in the realization of their freedom and emancipation to be totally financially free.
It is a Klever thing to do.
By James Enajite