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.”
To empower the market opportunity for existing financial products from developed economic regions to be made available to consumers, businesses and governments within frontier economic regions, Ciao’s Blockchain Frontier Markets Project will include the introduction of a Frontier Market Cryptocurrency (FMC). Ciao will develop the opportunity for FMC to be accepted as a currency for financial products from developed economic regions that are deployed within frontier regions.
Improving the technological feasibility of Frontier market public exchanges to support increased liquidity could dramatically improve access to investment capital. The African continent has $530 billion in public market capitalization across multiple national exchanges separate from the nearly $1 trillion in public market capitalization within South Africa alone. IBM announced a Blockchain project earlier this year with the Depository Trust and Clearing Corporation (DTCC) based on Hyperledger Open Source Technology. Ciao Group management team has spent considerable time on the African continent over the past year developing the opportunity to connect the $530 billion in public market capitalization with trading platforms in the United States as an extension of the DTCC’s move toward Blockchain enable clearing. African public stocks from multiple African countries traded in a single Cryptocurrency on US trading platforms cleared through DTCC accepted Blockchain transactions could significantly increase the liquidity of investments in African public companies, and give the average individual US investor new access to the types of growth opportunities only found within frontier markets.
Ciao Group recently announced a refreshed business plan to concentrate on developing locally sourced technology and telecommunication services within frontier and emerging economic markets. The Company is in the process of changing its name to NuMelo Technology as part of the business plan refresh. The progress is planned to include two acquisitions soon.