Finanza
Let’s take a look at Bitcoin first. Its market capitalization is USD 600 Billion (1000 billion USD in April 2022). Its transactions are 4.6 per second. But it’s not a bank, it’s more than that. Because it has no buildings, no employees, and no employer. But its accuracy is 100%. How is this possible? One word, DeFi, decentralized finance. Its technical basis is blockchain technology. Its founder, Satoshi Nagamoto
Finanza is a DeFi system created by Bizaka. Its transaction tool is a cryptocurrency called Zaka Coin. Even though Finanza is not 100% decentralized at present, the work is progressing rapidly. However, since June 20022 business loans to Women Self Help Groups have been provided through Zaka Coin.
DeFi and FINANZA
Generally Decentralized finance (DeFi) is an emerging financial technology based on secure distributed ledgers similar to those used by cryptocurrencies.
- Specifically, it eliminates the fees that banks charge for using their services.
- You can hold your money in a secure digital wallet instead of a bank.
- Anyone with an internet connection can use it without an approval.
- Nevertheless, you can transfer funds in seconds and minutes.
Firstly, Finanza supports the talents of those who initiate and promote decentralized ‘startup’ projects.
Secondly, Finanza assists for the commercial projects, run by SHG women towards ‘women empowerment’.
Functions of Finanza
Crypto Angels
Finanza lends Zaka short term lock-in loan for crypto angels to buy Zaka Coin for the minimum of one lakh.
Startup Projects
Finanza provides Zaka Coin loans to the talents of those who have any decentralized startup project.
Women’s Empowerment
Finanza gives Zaka Coin term loans to ‘Self Help Group’ women for their group business developments.
Business Cash flow
Finanza lends loans for those who initiate blockchain startup projects with any of the Bizaka platforms.