On the 20th June, we had the great pleasure of co-hosting a Fintech For The Future conference, organised for the Industrial Bank of Korea. Hosted by Wayra, the vibrant start-up accelerator programme by the Telefonica Group, this was a fast-paced day with an eye on the future. Four entrepreneurs presented their exciting start-ups with each focusing on the practical application of the latest technology to meet the challenges of the twenty-first century.
First to present was Viacheslav Oganezov, CEO of Finverity, a blockchain based, cross-border invoice trading platform. Addressing problems from all sides, Finverity has the power to increase yield for investors while connecting these investors to SME borrowers in emerging markets. In the context of the rapid growth of peer-to-peer lending, Finverity is a scaleable, traceable data management system.
Next up Giselle Frederick, co-founder and CEO of Zingr, took to the stage to present this exciting new platform launching in the Caribbean. Empowering frontier markets through digital payments, Frederick explained how the region is largely unbanked with up to 70% of all transactions relying on cash payments. Zingr provides a free-to-use app based solution featuring frictionless payments as well as anti-laundering protection embedded in the algorithm.
Phil Barry, former professional musician and co-creator of the world’s first blockchain music platform, then took to the stage to present his unique technology for creative rights management
Blokur uses blockchain to accurately identify the creator of content and define the rules for its exploitation. Having already partnered with four of the five biggest record labels in the world, this cutting-edge use of blockchain technology bolsters ownership and publishing rights in the music industry.
Finally Javed Khattak, the CEO of Humaniq rounded off the morning with the startling fact that more than two billion adults do not have access to the banking system. Humaniq focuses on providing vulnerable and low-income groups with access to affordable financial products. This financial inclusion takes the form of a live app, available on Google Play Store which uses biometric identification instead of passports and signatures.
The morning was rounded off by an informal networking session where the IBK representatives could meet the entrepreneurs before being whisked away to EC1V. Over in the East End, delegates set off with our Insider London guides for a Silicon Roundabout Walking Tour (link). Exploring the transformation of the area from a run-down district to the third biggest tech cluster in the world, this was a fitting end to a day which focused on the transformative potential of the digital sector.
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