Uzbek technology company to release wallet, lending, investing and learning hubs built on the Stellar blockchain, Uzbekistan-based blockchain project Okschain has announced an ambitious plan for 2021, focusing on a series of fintech services that solve many of the biggest challenges facing current blockchain technology.
The Okschain platform aims to provide a full suite of products and services which make finance easier and more affordable, while leading the industry in transaction speed, security, reliability and convenience.
Developed as a fork of the Stellar blockchain used by the likes of Wirex and IBM, Okschain will remove barriers to entry for traditional financial products such as payments, saving, lending and investing.
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Platform users will transfer funds and make payments through a universal wallet, exchange digital assets with a low-fee decentralized exchange. In phase 2, Okschain will enable crypto and fiat investing, peer-to-peer lending, traditional lending and AI-powered microloans.
The platform will also feature a tokenized version of the team’s existing tech investment fund, allowing anyone to invest in a diverse portfolio of investments, from data and mining centres to AI labs and ecotech projects. The unique model will enable users to invest small sums in transformative startups that would otherwise be inaccessible to retail investors.
The Okschain roadmap
Okschain is set to launch the first features of its fintech platform in the first half of 2021, beginning with a multi-currency, fiat-and-crypto digital wallet, a decentralised exchange and a peer-to-peer lending service.
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The roadmap includes a traditional business-to-consumer lending portal, an API payment gateway which connects merchants with consumers, the creation of a data centre for storage and transmission with Russian, Ukrainian and Asian partners and the launch of its tokenized venture capital fund.
Okschain is also launching Okslab, a learning platform to support the training of developers . Course participants will be offered expert tuition in a wide range of technical skills, receive certified qualifications and the opportunity to work with leading companies in Uzbekistan.
The project will initially pilot in the team’s home nation, followed by roll-outs to European, Asian, Middle Eastern and African markets.
Although fintech lies at the heart of the Okschain vision, the company’s ambitions will see progress in the fields of hard-tech, eco-technology, AI and medicine through 2022 and beyond.
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