With digital and financial technology revolutionising at a rapid rate, there is no surprise that Fintech companies are taking over the world with ingenious ideas changing industries, businesses and how we transact daily.
Blockchains is the new kid on the block that has got everyone talking in recent years.
Bloc Estate with its subsidiary Bloc Pay is one such company that is at the helm of its industry.
The company’s cloud service delivers sophisticated solutions focused on the efficient, secure, and compliant conduct of financial and real estate operations at an enterprise level.
The Edge spoke with CEO Michael Clement Duenas Cambare, who claims that the aim of their company is to “revolutionize the alternative real estate and financial markets.”
Since its inception in 2018, the company, based in Downtown Markham has grown rapidly, launching three specialised branches namely – Bloc Pay – a online financial service; Bloc Estate – specialising in real estate and Bloc Shopping – a rewards program that incentivize users to pay off their credit card.
“Imagine buying a house or condo in just under an hour. We leverage the sophistication of our software products and our expertise in the fields of financial technologies, compliance, machine learning, and blockchain, to generate solutions that are seamlessly integrated into the client’s needs,” said Cambare.
Every year millions of Canadians send billions of dollars internationally to family and friends or to buy international assets, but the process is tedious with exorbitant fees.
“At Bloc Pay we eliminate the unnecessary, creating a streamline process to send money overseas efficiently with the lowest possible costs. We’ve have made our system more transparent and a one stop shop. Our design unclutters – so you can keep focused on the things that really matters and we deal in all major currencies,” he said.
The former army personnel turned computer specialist said that the idea of an online financial and real estate solution was born from his passion for machine learning.
“As a computer science graduate, I always had an interest in machine learning and wanted to create an innovative system that makes life easier, especially for those immigrants that have family and friends abroad. Historically, foreign transactions and acquiring international real estate is complicated due to international policies, anti-money laundering, regulatory compliance, inaccessibility and the general lack of knowledge to conduct such undertakings. The processes are performed by consultants who charge exorbitant fees.
“We cut out the middleman, so we are able to offer the same services without the high consultancy fees,” said Cambare.
He added that the real estate arm of the company – Bloc Estate – eliminates real estate agents, lawyers, etc. saving clients thousands of dollars in a far quicker turn around period.
The company prides itself with a state-of-the-art online security encryption system to ensure that all information on their site is safe.
“We are currently working with high stake banking partners; well known international real estate agents and banking information. Therefore, we have invested greatly in having the best cyber security in the industry, with also gives us a competitive edge.”
He added that the future goal of Bloc Estate is to make buying real estate as easy as buying off Amazon.
Veruschka Mungroo | Senior Editor