Ciao Group, Inc. has announced the Blockchain Frontier Markets Project. The company recently announced the launch of its Cryptographic Enterprise Division led by Henryk Dabrowski, who is coming to Ciao from Alternet Systems, Inc. where he led the development and subsequent sale of Utiba Americas – a mobile financial remittance solution. Dabrowski has been working with Aubrey Brown, CEO of Ciao, over the last year on the Blockchain Frontier Markets Project.
Brown explained: “Frontier economies around the world lack access to most of the financial products routinely available to consumers, businesses and governments within developed economic regions. Mortgage loans, credit cards, business insurance, working capital loans and government bonds are some of the basic financial tools for building any economy. But such financial products are found to be in short supply when it comes to Frontier economies. The objective of our Blockchain Frontier Markets Project is to build a transaction platform with a distributed ledger populated with permanent and secured records for every transaction. An evaluation of commercially available Blockchain technologies is well underway. With a standardized and trusted transaction platform, Frontier markets around the world can have access to the existing financial products already available within Developed economies.”