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<p>Flex ID, a Zimbabwean blockchain startup, and Uhuru Pockets, a South African-based WhatsApp remittance platform, just lately introduced the creation of a platform that gives built-in digital identification and remittance companies to tens of millions of Zimbabwean immigrants in South Africa.</p> <p>The 2 companies praised the “first cross-chain partnership between the 2 corporations” in an announcement shared with Bitcoin.com Information.</p> <p>As said within the launch, Flex ID, which was co-founded by Victor Mapunga, makes use of the Algorand blockchain, whereas the Uhuru Pockets is created on the Stellar blockchain.</p> <p>Belief Jakarasi, CEO and founding father of Uhuru Pockets, commented on the 2 companies’ collaborative resolution:</p> <p>We're thrilled to be collaborating with FlexID to offer our clients with a extra seamless and secure remittance expertise.</p> <p>We will higher serve the wants of Zimbabwean immigrants in South Africa by merging our experience in digital identification and remittance companies.</p> <p>A number of the difficulties that the 2 companies hope to sort out with their new collaboration embrace “providing a seamless and safe remittance expertise” for Zimbabwean immigrants.</p> <p>On this collaboration, the startups hope to handle or overcome the difficulties of excessive sending charges, restricted entry to formal monetary companies, and identification verification points.</p> <p>In the meantime, Mapunga mentioned the advantages of blockchain expertise and the necessity of deploying it.</p> <p><em><strong>“By leveraging blockchain expertise, we are able to present a safe and environment friendly means for purchasers to confirm their identification and entry monetary companies, no matter the place they're,”</strong> </em>mentioned Flex ID’s CEO.</p> <p>Though South Africa is taken into account among the many main senders of remittances in sub-Saharan Africa, it prices anyplace <a target="_blank" href="https://remittanceprices.worldbank.org/corridor/South-Africa/Zimbabwe" rel="noopener">between 5% and 20% to send money</a> to Zimbabwe when using registered cash switch companies.</p> <p>Consequently, many Zimbabwean migrants are compelled to depend on alternate options similar to couriers or unlicensed remittance websites.</p> <p>The event of a blockchain-based system expands alternate options for Zimbabwe migrants and is projected to scale back the typical price of disbursing cash.</p> <hr/> <p><em><strong>Don’t miss essential articles through the week. Subscribe to <a target="_blank" href="https://blockbuild.africa/newsletter-signup/" rel="noopener">blockbuild weekly digest</a> for updates.</strong></em></p>
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