Kenyan Fintech Startup to Use Stablecoins to Transfer Universal Basic Income Payments to African Refugees
fintech

Kenyan Fintech Startup to Use Stablecoins to Transfer Universal Basic Income Payments to African Refugees

THELOGICALINDIAN - Kotani Pay a Kenya based agenda bill on and offramp account provider has entered into an acceding wherein it will accredit the alteration of accepted basal assets UBI payments to African refugees Working in affiliation with the Refugee Integration Organisation RIO and Impact Market the fintech startup which uses the Celo blockchain will use its belvedere to ensure payments ability the advised beneficiaries

Using the Blockchain Without the Internet

According to Kotani Pay’s contempo post on Medium, the start-up’s affiliation with RIO and Impact Market will additionally see non-smartphone holders benefitting. Commenting on this different feature, Kotani Pay said:

The fintech start-up adds it is accouterment a accustomed interface that works on affection phones. This interface “eliminates the charge for an internet affiliation back interacting with blockchain protocols that were advised primarily for smartphone users.”

For its part, RIO says the use of the Celo blockchain “will absolutely advice accumulate artifice and bribery from this programme, ensuring that for once, every dollar will go to the bodies they are meant for.”

UBI Does Not Foster Dependency

In the meantime, Brian Kimotho, the arch business administrator at Kotani Pay, appear some of the capacity apropos to the funds that will be broadcast as able-bodied as the cardinal of refugees involved. Kimotho said:

Meanwhile, in the Medium post, RIO dismisses the affirmation that this UBI affairs will acceptable breed a annex affection amid refugees. The NGO says it believes the UBI “should not be implemented as a sole agency of bread-and-butter development.” Instead, the payments should be accumulated “with business training, entrepreneurship awareness, and added banking admittance services, such as micro-loans.”

Do you accept the blockchain offers a bigger way of appointment payments to refugees? Tell us what you anticipate in the comments area below.

Image Credits: Shutterstock, Pixabay, Wiki Commons