New Blockchain Initiative to Help African Entrepreneurs Unlock Banking Services

Papersoft DMS’s subsidiary Papersoft Africa, digital transformation firm iVEDiX, and a group of international bankers have joined together to develop a blockchain and cryptocurrency project as the key element of a cashless transactional system aimed at African entrepreneurs. The system will leverage blockchain technology, which will be integrated into an onboarding platform. The solution is planned to help millions of entrepreneurs operating in Africa and will be initially launched in the Democratic Republic of Congo (DRC) and Somalia.

The group wants the solution to become an alternative to traditional banking and financial infrastructure. It will make electronic cash and e-banking accessible to any individual with a smartphone and will allow entrepreneurs to get easy access to funding. The project focuses on working w…

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