Saturday, January 16, 2021

Leah Colon-Butler: Will the next M-Pesa be a blockchain app? – Coindesk

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“How does your solution touch the base of the pyramid?” Iswatini (formerly Swaziland) asked Namsebo Sharon Hadeb from the finance ministry.

“I am talking about a community where mobile phones are charged only once, a rural community where electrification is still very low. I think our target audience is not just those who have cellphones and use them every day, ”he said.

Given 770 million People around the world still live without access to electricity, this was a difficult but interesting question from the judging panel at this year’s final hosted by AFI Inclusive Fintech Showcase, Alliance for Financial Inclusion (AFI)

Kayanadesk columnist Leah Colon-Butler is the director of Afarsis, a consulting firm focusing on the role of technology in economic progress in Asia.

The question was directed to Anka Bogdan Rousseau of CLEBS, a startup that launched Cello Blockchain, an open-source platform that creates financial tools accessible to anyone with a mobile phone. In response, Anka explained that the solution – a mobile-first application called TapPeople were allowed to work on micro tasks such as being given artificial intelligence (AI) training and being paid at stationary CUSD – as low as 15 was adapted and tested on low-end smartphones.

While smartphone applications like Cello are undoubtedly unlocking life-changing, income-generating opportunities for marginalized populations, micro-jobs for AI training are expected to be market-friendly. 24 24 billion by 2023. I saw the possibility here in the Philippines, where crypto-fueled gaming apps run the way for unemployed Filipinos Make up to $ 400 a month COVID-19 while stuck at home during lockdown.

See also: Leah Colon-Butler – NFT games that make cents for Filipinos during the CWD

But Anka was open about reaching out to the poorest of the poor. “This solution is not optimal for these conditions,” he said. From “Our focus is on what you need to access this type of work you need a laptop or a computer” from ‘You only need access to a low-end smartphone’ This requires very little data, very little power, but still has those requirements.

So Mrs. Hadeb is right that the eternal solution is at the very bottom of the pyramid, which is the poorest and largest part of the world. The active effects of technology are just as great as their accessibility, and as the digital economy has adopted, there are serious concerns for those who find themselves stuck on the wrong side of the digital divide. This inequality is at the forefront of the minds of AFI members, who represent the central banks and regulators of more than 70 emerging and developing countries.

M-Pesa has removed this place’s favorite d Kenyan mobile money solution Thousands of people out of poverty, And it is wheeled at every opportunity The Examples of how Fintech can provide a better future. M-Pesa has been adopted far and wide across Africa, partly because it does not require internet and features that can be used on phones that only charge after a few days. For people in poor countries, this is a bigger drawing card than products that require a smartphone, data (a further expense constraint for many) and a daily recharge.

We should spend more time with people like Mrs. Hadeb, who can remind us that it is still not providing any service.

Nine themes for financial inclusion. I had to consider how they would contribute to women’s empowerment, tackling climate change and responding to the COVID-19 crisis in 2020. I wanted to show a showcase of optimists who were clearly ready to scale and, perhaps, promised to increase those who were working to establish the AFI regulator-innovator dialogue.

This year, the challenge attracted more than 60 entries for Fimzer, ranging from pre-seed startups to MasterCard. The solutions it turned out to be in the finals were as varied as they were uniquely targeted, (including but not limited to). A digital ecosystem Connecting micro capital to micro, small and medium enterprises (MSMEs); An AdTech platform Partnering with financial institutions to improve financial literacy and utilizing data analytics; And A pension scheme To help save the retirement of workers in the informal sector.

The AFI-tested finalists each used technology that required some sort of power source, and mostly enabled smartphones, which made me think that Mrs. Hadeb’s question might be a bit unfair in the context of the fintech pitching competition.

(Cello)

Robin Newnham, AFI’s head of policy analysis, reiterated that smartphones are less accessible than feature phones. But he was optimistic. “The proliferation of ১৫ 15 smartphones is accelerating, and the cost of the handset is unlikely to be a significant obstacle in the near future,” he said, adding that sub-Saharan Africa would contribute to the cost and reliability of electricity in rural areas through improved distribution of solar power.

Still, perhaps the most impressive acceptance from this experience was Ankara’s willingness to check out Man Hadeb, especially since Cello was the first and only blockchain-based project to make it through this show-show final, now in their second year.

In the Echo Chamber, we blockchain fans rarely have to work hard to explain our position and purpose. It is very difficult to get out and our things are not in the bandwagon, those who probably do not understand the technology (or do not care too much about it) and have a completely different set of problems.

If we truly believe that blockchain can solve some of the world’s worst problems, we should spend more time with people like Mrs. Hadeb, who can remind us that it is still not serving.

See also: Leah Colon-Butler – What DFI can learn from ‘infi’



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