SENC Weekend Notes
Dear SENCommunity,
As we retreat into the weekend and wrap up the month of June, we’d like to share with you one specific highlight of the week.
A few days ago, the World Economic Forum has cited Sentinel Chain as an “exciting and practical” use case that provides “livestock-backed financial services for (the) unbanked” in their May 2018 report, “The Global Financial and Monetary System in 2030”.
We are humbled and honoured that our financial inclusion project received a mention by this Swiss nonprofit foundation whose mission is cited as “committed to improving the state of the world by engaging business, political, academic, and other leaders of society to shape global, regional, and industry agendas”.
This is a strong validation of our blockchain use case in our paramount objective to revolutionise financial inclusion.
(Block)chain of benefits
In the World Economic Forum report, Sentinel Chain appeared in the section devoted to blockchain and crypto.
The report states that,
“Ultimately, the end game for blockchain technology would be to use it as a basis to create one single record for everyone to use (all assets would be housed on the internet), creating a genuine “internet of assets”. Whilst still in the early days, the use cases are exciting and practical.
Applicability is across a huge range of existing asset classes and enables the development of new ones (e.g., crypto- currencies). The range is becoming enormous; e.g., fine art (Maecenas), livestock-backed financial services for unbanked (Sentinel Chain), identity verification and attestation (Bloom and Civic) to name but a few.
The Global Financial and Monetary System in 2030, World Economic Forum
Combining cutting-edge blockchain technology and cryptocurrency to achieve the global objectives of inclusive and sustainable growth is a noble cause. Blockchain at its crux is a technology that has the (exponential and infinite) potential to create new, efficient foundations for economies and social systems to run on.
Bridging the nodes and bolts of blockchain to bank the unbanked
The world community has agreed to the UN Sustainable Development Goals (SDGs), part of a broader 2030 Agenda with specific milestones related to sustainable development. The scale of what needs to be achieved is exceptionally large and the changes needed are demanding urgency.
Blockchain projects with real and practical use cases like Sentinel Chain will bridge the crypto universe to a real world application to benefit the unbanked — turning innovations into services that genuinely enhance economic and social welfare.
And on that note, we leave you with the wisdom of one philanthropist-humanitarian-billionaire.
“Technology is unlocking the innate compassion we have for our fellow human beings.” Bill Gates
Have a good weekend, everyone.
Make a difference to the unbanked and clap for financial inclusion.
To read the full report: The Global Financial and Monetary System in 2030
Sentinel Chain is a blockchain-based international marketplace for cross-border financial services and the world’s first platform to accept the use of livestock as collateral. Taking a unique approach to the last mile problem of financial inclusion, the Sentinel Chain model establishes livestock provenance through the creation of livestock insurance on blockchain — the registration of livestock provenance on blockchain provides the unbanked with a new opportunity: the real possibility of accepting livestock as ‘collateral’ for loans. Sentinel Chain is a project by InfoCorp Technologies
Website: https://sentinel-chain.org
Medium: https://medium.com/sentinelchain
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