Revolutionizing Money Transfers with Bisi Adedokun: The Orokii Blockchain Solution

Episode 3 from "Pre-IPO Hype" features an interview with Bisi Adedokun, the founder and CEO of Orokii. The episode begins with the host introducing Bisi Adedokun and the topic of discussion. Bisi then shares insights about Orokii, a money remittance company he founded in 2021, which launched its product to the market at the end of 2022. Orokii specializes in transferring money to various countries across Europe, Latin America, Africa, and Asia.Bisi Adedokun explains that the inspiration for Orokii came from his personal experiences during the COVID pandemic, particularly the challenges he faced when sending money to support friends and family. He realized many people encountered similar issues, especially with the high fees associated with money remittances. This realization, combined with the knowledge he gained from a three-month blockchain training class at MIT, led him to explore the potential of blockchain technology in transforming the money remittance industry.Orokii, through blockchain technology, aims to reduce the complexities and fees in money transfers. Blockchain helps minimize intermediaries, eliminating the need for corresponding banks and facilitating transactions on the blockchain network. This innovation leads to faster, more efficient transfers and significantly reduces transaction fees. Bisi Adedokun notes that, according to World Bank data, the average cost of sending money internationally is about 6.3% to 6.5% of the total amount sent, and Orokii's approach has succeeded in eliminating these transaction fees.To explain blockchain in simple terms, Bisi Adedokun likens it to a household ledger, which records all transactions and is accessible to everyone involved. He describes blockchain as Distributed Ledger Technology (DLT), which operates on a much larger scale, where all transactions are transparently recorded and visible to all parties involved.Learn More: https://orokii.com/Support Them: https://wefunder.com/OROKIIListen More: https://shows.acast.com/preipohype/revolutionizing-money-transfers-with-bisi-adedokun-the-orokiSubscribe: https://podcasts.apple.com/us/podcast/the-startup-journey-tales-from-pre-ipo-hype/id1732533055 Hosted on Acast. See acast.com/privacy for more information.