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Elevandi CEO Suggests Blockchain and Fintech as Path to Financial Inclusion for Refugees

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Key Takeaways from Point Zero Forum on Future of Finance and Blockchain in Humanitarian Aid

Industry leaders gathered at the Point Zero Forum in Zurich to discuss the future of finance and how blockchain and fintech can revolutionize humanitarian aid. Fintech and blockchain technologies are emerging as crucial tools in addressing the global displacement crisis, offering innovative solutions to aid those forcibly displaced. Organizations like Elevandi are working to overcome challenges in implementing tech-based solutions and foster collaboration among stakeholders.

At the forum, central bankers, policymakers, finance and Fintech leaders, technologists, and investors explored topics such as Europe’s regulatory challenges, sustainable investments in emerging markets, and the humanitarian aspect of the refugee question. As the global displacement crisis escalates, fintech and blockchain technologies are offering unique opportunities to address the challenges faced by displaced populations, such as lack of access to financial services, identity verification, and secure transactions.

The UNHCR and the Cardano Foundation are leading the way in solving the refugee crisis by leveraging blockchain technology for identity verification and aid distribution. Frederik Gregaard, CEO of the Cardano Foundation, highlighted how blockchain technology can empower refugees by providing secure and decentralized methods to prove their identity, ensuring access to services and integration into new countries.

Pat Patel, Executive Director of Elevandi, emphasized the role of blockchain in enhancing social inclusion for refugees, particularly in providing secure digital identities and financial inclusion. He addressed the challenges in advocating for and implementing technology-based solutions, citing inertia, perceived risks, and resistance to change as major obstacles.

Despite these challenges, industry leaders are focused on aligning policy roadmaps with technology roadmaps to enable effective onboarding of the masses through a unified and interoperable approach. The strategic use of advanced technologies like blockchain and fintech is paving the way for sustainable support mechanisms that enhance the autonomy and safety of refugees worldwide.

The growing refugee crisis urgently requires innovative solutions, and organizations like the UNHCR, Elevandi, and the Cardano Foundation are at the forefront of developing efficient, secure, and empowering systems for aid delivery. By curating platforms for discussions and fostering collaboration, these organizations are working towards a safe, regulated, and sustainable digital economy to benefit all individuals in need.

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