Boom DeFi and Financial Times Partner to Highlight Unbanked Entrepreneurs

In a significant move bridging traditional and decentralized finance, Boom DeFi Ecosystem (Boom) has entered into a three-year strategic partnership with the Financial Times (FT). The collaboration aims to shed light on the stories of businesses and individuals who lack access to the global financial system, estimated to be over a billion adults worldwide.

The partnership's centerpiece is a new initiative called 'The Unbanked Entrepreneur,' which will focus on capturing entrepreneurial journeys and celebrating pioneers working to level the economic playing field. This multimedia, cross-FT project is set to raise awareness about financial inclusion and highlight the untapped market potential represented by unbanked entrepreneurs.

Sebastiano Moschini, Boom's global head of partnerships, emphasized the importance of this initiative, stating, "Whilst digital transformation has made information and communication instant, the ability to transact and trade digitally is still not universal for over a billion adults." The partnership aims to tell the stories of these "missing billion entrepreneurs" and the market opportunities they represent.

The Financial Times, known for its authority in business news, sees this partnership as an opportunity to expand its reach. The publication plans to enable unbanked adults worldwide to subscribe to the FT using BoomPay, an online payment gateway that allows businesses to collect payments from unbanked customers at checkout. This move could potentially open up a new reader base for the FT while promoting financial inclusion.

Danny Aldred, FT global advertising director, expressed pride in the partnership, describing it as a "purpose-driven" initiative that will "spotlight those who have shown entrepreneurial spirit around the world and raise important issues around financial inclusion."

The Boom DeFi ecosystem, which is spearheading this partnership, consists of several components designed to connect unbanked consumers and businesses to the global digital economy. These include the Boom blockchain as the layer 1 payments rails, the Boom superapp and Boomswap at layer 2, where value is exchanged via the Boomcoin, and the Boom Foundation, which focuses on crypto-for-social-good initiatives.

This partnership between Boom and the Financial Times represents a significant step towards bridging the gap between traditional finance and the emerging world of decentralized finance. By focusing on unbanked entrepreneurs, the initiative has the potential to drive awareness and possibly solutions for a substantial portion of the global population currently excluded from mainstream financial services.

The impact of this collaboration could be far-reaching. By highlighting the challenges and opportunities associated with financial inclusion, it may inspire new technological solutions, policy changes, and business models aimed at integrating the unbanked into the global economy. Moreover, it could lead to increased understanding and acceptance of decentralized finance solutions among traditional financial institutions and regulators.

As the partnership unfolds over the next three years, it will be interesting to observe how the stories of unbanked entrepreneurs influence public perception, policy decisions, and innovations in both traditional and decentralized finance sectors. The initiative may also serve as a catalyst for other collaborations between established financial institutions and emerging DeFi platforms, potentially accelerating the convergence of these two financial worlds.

For more information about the Boom ecosystem and its initiatives, interested parties can visit www.boom.market. The Financial Times, with its record paying readership of 1.2 million, will undoubtedly bring significant visibility to these important issues through its global platform.