Blockchain
Pesabase Slashes Remittance Fees in Africa by 80% with a Groundbreaking Blockchain Remittance Solution
Pesabase’s newly unveiled blockchain remittance solution allows its beneficiaries to receive their converted native currency directly on their mobile devices – at a fraction of the cost.
Nairobi, Kenya–(Newsfile Corp. – September 1, 2022) – With its novel blockchain remittance solution and the newly released $PESA token, Pesabase is advancing into the blockchain industry. The founder and CEO of Pesabase, Phil Somh, an African native turned successful Australian Entrepreneur, has built diverse financial infrastructure with major Teleco companies and banks in Africa for the past 5 years with over $2 million of seed funding. Phil unveiled the novel blockchain solution at a press conference last Friday and announced it as the “first and only” remittance solution entering the innovation-starved markets in the African continent.
Pesabase Slashes Remittance Fees
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Every year African markets witness $51 billion of remittance sent and received and the users have been bound to 20-40% fees for decades. Pesabase aims to initiate a revolutionary step to banking the unbanked Africans who are still accustomed to using their SIM card as bank accounts.
Pesabase has achieved this technological leap by forging partnerships with large Teleco companies across the continent who act as de facto banks in lieu of a standardized banking system. Their innovative proprietary smart contract converts remittance from pUSD, (Pesabase stable coin) to local currency for the recipient. Pesabase also has forged deals with mini-banks across the continent to ensure that those who don’t use the Teleco system have points of contact to withdraw funds without hassle.
“Growing up in South Sudan and witnessing one of the worst famines in African history incited within me a deep passion for change in my homeland,” says founder and CEO Phil Somh at last Friday’s press conference in Sydney, Australia. “My first remittance sent to East Africa was $50. After sending the payment I was shocked to find I was charged a transaction fee of $21 to process this payment. Almost 50% of my remittance was lost to intermediary fees. Something had to be done to address this issue.”
Average remittance fees in Africa are currently 10-15%. Using Blockchain, Pesabase is slashing this to 1-3% on their platform. A massive cut of 80%, saving millions of Africans crucial funds for their goods and services. With such advancements, Pesabase has the long-term mission to forge financial freedom for millions of Africans who use the platform.
Pesabase has just recently launched the $PESA asset for public trading on exchanges as a way for both in and outside of Africa to get involved in the movement and invest in the lucrative technology underpinning Pesabase’s platform.
“For every remittance sent, the users receive $PESA tokens. These tokens can be traded on crypto platforms, and provide crucial holdings in a region where the average income is only $1.50 a day.” Phil and the Pesabase team believe that providing users with investment and stake in the platform, just for being users, provides education and financial inclusion in a much-needed sector.
About Pesabase
Pesabase is the easiest way to send money and make payments. The company strives to facilitate instant money transfers in Africa. Pesabase offers the best market rates and takes the issue of security seriously. It uses the latest encryption and blockchain technology to ensure their users’ funds security.
Further Details:
For more information, visit: https://pesatoken.io/
Website | Facebook | Twitter | LinkedIn
Media Contact:
Phil Somh,
Founder & CEO
Upperhill Nairobi, Lower Hill Duplex next to Old Mutal Tower, office no.52
[email protected]
+61491208116
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135560
Blockchain
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Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
The post Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users appeared first on News, Events, Advertising Options.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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