Digital finance in Layman's speak.

The speech below highlights what we are trying to achieve put plainly.

Whilst people focus on price sometimes it's about a life that can be saved through access to small credit lines.

It's not about the price it's about the opportunity cost.

And used responsibly digital finance will sort you out.

We have a long way to go to be able to reach the ordinary man most optimally but we have to start from somewhere and be sustainable so that when we save a life or business today we can do the same tomorrow.

The Card Pesa Brief

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The future of digital finance.

The Internet of things (IoT) describes physical objects with sensors, processing ability, software, and other technologies that connect and exchange data with other devices and systems over the Internet or other communications networks (Wikipedia)

We at Card Pesa believe that in the not to distant future the IoT will negate the need for valuing and holding of collateral. In the future when a person purchases an item on credit, a digital financier will be able to control the usage of the item and if for example a payment is not received may shut it down or reduce ability to utilise it.

The IoT will lead the way to ability to enforce what are known as Smart Contracts

A smart contract is a computer program or a transaction protocol which is intended to automatically execute, control or document legally relevant events and actions according to the terms of a contract or an agreement (Wikipedia)

A simple example relevant to our environment may be a smart contract setup for the sell of coffee to a hauler and the coffee is put into a hauler that can autonomously determine the grade of coffee and price it using (IoT) so that a deliverable in a smart contract is met which could then trigger a payment all being financed by a digital financier who would know that the activity they financed has been fulfilled, payment has been made and now client can meet their credit obligation.

These kinds of scenarios will be common place in the future and will change the landscape of how credit us delivered and in essence how business is done and the need to have brick and motor banking facilities as everything will be done digitally.

When those days come clients who have experience working in the digital space will definitely have a competitive advantage and that would be the difference between future business success or failure.

So sign up with Card Pesa now a setup your Hustle in a way that will prepare it to be competitive when the world starts fully utilising IoT and Smart Contracts. This time maybe closer than you think.

www.cardpesa.com/signup

In the news today

https://www.newvision.co.ug/category/business/fintechs-innovators-upbeat-on-inclusion-effor-137091