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New fintech development platform Emerging Impact has announced that it’s raised $1.5 million in a recent financing round with investors, including Coinbase Ventures, Mercy Corps Ventures, 500 Global, and others. Founded in 2020 by Jon Lewis, Robert Greenfield, and Sandra Hart, Emerging Impact was created to send blockchain fintech products to areas in the market that have not been easily accessible through fiat and mobile money on/off ramps. Supported by recent funding, the company’s latest innovation will launch the open developer platform Umoja. Now consumers can tap into any financial service available within their peer market at a competitive rate while enjoying transaction costs 40 times cheaper than competitors and the utility of experiencing an economic system that is 1,000 times faster, according to a press release provided to AfroTech. “We created Umoja to accelerate inclusive, digital finance through open banking, and to empower and uplift more than 2 billion people...
Each year more technology companies are shifting their focus to create more social impact initiatives. Some are trying to use artificial intelligence to take the implicit biases out of the hiring process, while others are finding ways to provide identification tools for homeless communities through blockchain technologies. Robert Greenfield — the co-founder of ConsenSys Social Impact — is highlighting the importance of social impact initiatives at his company. The ConsenSys Social Impact team researches and solves problems for its partners. The team has worked with the University of Michigan, Human Rights Foundation, Lane Crawford Joyce, and Black Girls CODE using blockchain to provide social solutions to the groups. Despite how useful blockchain technologies can be, many people still do not understand exactly what it is or does. “It’s a background technology,” Greenfield said. “One of the issues in the marketing in the blockchain ecosystem is that they make it seem like it’s a...