3 Blockchain-based Startups Get Featured at the 2019 Global Fintech Hackcelerator by the Central Bank of Kenya

The 2019 Global Fintech Hackcelerator organized by the Central Bank of Kenya, in partnership with the Monetary Authority of Singapore, came to a close with 3 blockchain-based startups getting featured among the 15 finalists out of the 45 that applied.

The hackcelerator, which is part of the Afro Asia Fintech Festival commitments in partnership with KMPG, saw two startups, Kwara from Kenya, and Bureau Vente of Uganda, emerge as winners at the fintech accelerator event.

The 2 startups will be accelerated to Singapore Fintech Festival in 2020.

The event included the Governor, Central Bank of Kenya, and representatives from the Monetary Authority of Singapore.

Below is a list of the startups that participated for the hackcelerator:

According to KMPG:

“We were looking for solutions to problems that had been specifically defined to many of the problems on our continent.”

The judging evaluation was based on the criteria below:

  • Solutions to specific defined problems
  • How innovative the solutions are in regards to using technology
  • Ease of adoption and ability to scale
Tenda World was a particularly interesting blockchain service that got featured.
When asked what is the biggest hurdle to making their blockchain product work, Tenda Founder / CEO, said the solution was in ‘getting people to believe that it will work.’
When further probed on how to overcome that, he answered: ‘by actually doing it.’

Blockchain solutions are no doubt changing the finance space and the recent hackcelerator is a clear demonstration that the blockchain technology is going to offer real-world solutions to real-world problems in line with UN sustainable development goals and the Kenyan Big 4 Agenda.