Funding for a Greater Cause
BanQu, a blockchain identity startup hailing from the United States, recently announced it has successfully closed an extension of its series A funding round, led by ZX Ventures—an investment arm of the popular beverage behemoth, Anheuser-Busch InBev. The announcement on June 6 said it all: money talks, and this time it’s shouting out loud for social good!
The Power of Transparency
With some undisclosed funds in hand, BanQu is set to enhance supply chain transparency and traceability—essentially giving a high-tech makeover to the way businesses operate. Who knew blockchain could also be a beacon of hope for farmers struggling in remote areas?
Why It Matters
In the words of Tony Milikin, Chief Sustainability and Procurement Officer at AB InBev, “Together, we are working to improve access to modern banking for thousands of farmers in underserved rural markets.” Now, that’s some impressive corporate jargon! Basically, this partnership aims to create inclusive growth while tackling the world’s poverty problem, one beer-loving farmer at a time.
Global Footprint
BanQu doesn’t stop at just lofty speeches and tech jargon. The startup boasts operations in a staggering 12 countries! From the sandy shores of Costa Rica to the bustling streets of India, and the vibrant markets of Uganda, they’re seeding their platform everywhere. Plans are already in motion for reaching Mexico and China. Because why not collect more friends around the globe?
Impact on the Ground
Maisie Devine, Global Director for the 100+ Accelerator at AB InBev, pointed out that BanQu has already implemented its platform with over 4,000 farmers in countries like Zambia and Uganda. If that doesn’t make you want to raise a glass of chilled beer, what will? This innovative technology not only enables individuals to create an economic identity but also connects them to global supply chains—like a LinkedIn for farmers!
The Wider Landscape
As exciting as BanQu’s journey is, it’s not alone in the tech world. Microsoft, for one, has recently unveiled a decentralized identity network riding on the coattails of the Bitcoin network, allowing users to take back control of their personal data. Talk about digital empowerment! It’s like the blockchain ecosystem is booming, and everyone’s invited to this tech party.
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