UNITED NATIONS — When Fredrik Mosis moved to Norway from Côte d’Ivoire as a teenager for football opportunities, he started to send money home to his family. He channeled the money through his uncle, but when Mosis returned back to Côte d’Ivoire he found it had never reached his other family members.
There is a solution for this common issue of remittance mismanagement, Mosis found, and the year-old, Norway-based blockchain initiative he co-founded, Vipicash, addresses it. The app designates how and where individual cash recipients can spend their money, tying the funds to participating local businesses or institutions.
“It’s the same issue that we see people facing, and it’s the same issue within Africa as well,” Mosis said. “You don’t know how the money is being spent.”
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