Empowa’s Integration with Hedera: A Strategic Move for Empowa Pay
Last month we shared a significant milestone in our journey towards transforming the real estate landscape through technology. We announced our strategic integration with not just one, but two leading Distributed Ledger Technology (DLT) platforms—Hedera and Cardano—for our groundbreaking Empowa Pay solution. In this update, we expand on what Hedera brings to the Empowa ecosystem and how it will help us deliver on our mission to finance affordable housing in Africa.
The Significance of Distributed Ledger Technology Integration:
The Empowa Pay solution revolutionises the management of rent-to-own contracts, providing developers with a tool to manage their cashflows, streamline processes and enhance transparency. The crux of the matter lies in the integration of real-world rental payments with a DLT that ensures secure and transparent recording of such transactions.
Timeous Data for Informed Decision-Making:
- By recording the rental cash flows on a distributed ledger, Empowa provides both developers and investors with timeous, verified data.
- Such data is valuable in the reduction of risk and supports informed business decision-making.
- By working with a distributed ledger that has already been actively integrated into existing financial systems, Empowa Pay is better able to facilitate the recording of payments, reducing the risk of delayed or inaccurate data entry.
- This integration allows for potential smart contracts on both Hedera and Cardano, enabling proactive actions based on such financial information.
Legacy System Integration for the Real-World:
- Since the number of active DLT users is limited, Empowa recognizes the importance of integrating with legacy financial systems to bridge the gap between DLT and real-world applications.
- The value proposition lies in extracting data from legacy systems early, ensuring a seamless transition to the distributed ledger for increased transparency and verification.
User-Friendly Approach for Mainstream Adoption:
- Empowa Pay caters to a completely diverse audience, including tenants with varying levels of technological proficiency.
- The integration work being done by Hedera with existing payment systems on the continent allows for a simplified onboarding process, ensuring that payments are recorded on-chain seamlessly without requiring users to navigate complex DLT interfaces.
Empowa’s integration with both Hedera and Cardano represents a strategic move towards creating a comprehensive and impactful housing finance solution. Our collaboration with Hedera ensures real-world linkage with legacy financial systems, while Cardano contributes to various payment recording processes and community-focused functionality. Together, these DLT platforms propel Empowa Pay to new heights, providing unparalleled efficiency and transparency in the real estate industry.
2023 has been a year of building! The Empowa team have spent the last 12 months developing the tools needed to scale a solution to tackle the backlog of 50 million homes and address the $1 trillion affordable housing market in Africa.
