Denelle Dixon recently expressed, SDF Enterprise Fund was created to support innovators like Cowrie Exchange, who’ve shown their agility in responding to evolving regulation and leadership in sharing how their tech can benefit Nigerians while meeting the objectives of the govt. Proud to continue our work together.
This shows that it is possible to ensure the comfort of blockchain technology and borderless economy by working in compliance with regulators and the government.
For clarity, SDF announced its 2nd enterprise fund investment of 2021 in @Cowrie_exchange to help facilitate growing remittance corridors and as we work together to promote public-private partnership in pursuit of regulatory clarity.
Remittance corridors means, “A ‘remittance corridor‘ is essentially the sum of remittances sent between two specific countries. Hundreds of billions of dollars are sent in remittances globally each year.”
For more clarity, remittance means the money sent by migrant workers back to their home countries.
Reportedly, a disproportionate majority of remittance flow is captured between US-Mexico, UAE-India, Hong Kong-China, US-China, US-India, and US-Philippines.
This means, there are several countries where money remittance is either expensive or not timely making things harder for families waiting to have their needs met.
Improving remittance corridors, therefore including remotest corners of the world in the comfort of financial access/ financial inclusion is the goal of Stellar Lumens.
Public-private partnership in remittance means, Public-private partnerships refers to the collaboration that takes place between the government agency and a private-sector company like Stellar Lumens which will be able to help bridge a service requirement in terms of financial remittance, therefore, helping build, and operate projects that need money, whether at the level of individual needs of the needs of governments looking to complete projects in a large scale.
The process of enabling financial remittance through a public-private partnership will permit projects to be completed sooner or make it a possibility in the first place.
Also, in the process public-private partnerships will also mean concessions of tax or other kinds of operating revenue, thus facilitating protection from liability, or partial ownership rights in nominally public services and property to private sector, for-profit entities.
Regulatory clarity means, the regulation is written or displayed so that its meaning can be easily understood by the persons directly affected by it.
This just means the SDF Enterprise Fund supporting innovators like Cowrie Exchange is a sign of moving in the way of regulators and making things possible and easy than by working against governments and regulators in the name of decentralization.
