First, it is not about the technology but the problem at hand. It is easy to get caught up in the fanciness of technology and exotic labels—blockchain, artificial intelligence (AI), internet of things (IoT). Unfortunately, often times Fintechs and other startups may focus on the features of the technology, and not how it solves a problem.
The mobile phone in our case offered a platform to resolve distance, cost and time constraints that Kenyans had faced in accessing money transfer and other financial services. The focus must be on people. Second, it takes collaboration to build an ecosystem. Regulators, Fintechs or Governments on their own cannot build a financial ecosystem.