Why is it important?
Microlending and DeFi dApps targeted specifically to the African context & based on historical cultural norms will accelerate user adoption.
What does success look like?
At least 5 viable projects with implementation plans for DeFi dApps, micropayment and microlending solutions in Africa.
Key Metrics to measure
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Total time until MVP Launch
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Total Market Size
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Total Addressable Market
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3, 6, 12-month product adoption rates after launch
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Total marketing reach pre- and post-launch
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Whitepaper and Research documentation created
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Community metrics (social media, pre-sign-ups, email lists)
Challenge brief
–––––CHALLENGE UPDATE––––
With the first iteration of this proposal successfully voted on and now, with a challenge pot more than double of the previous, we can move beyond research and begin to fund projects with serious plans for implementation.
<u>A selection of funded 'DeFi in Africa' proposals:</u>
- ChaCha Small-Change Wallet:
- <https://cardano.ideascale.com/a/dtd/367389-48088>
- Kiva Micro-Lending Partnership:
- <https://cardano.ideascale.com/a/dtd/366720-48088>
- Green Lion, Micro-lending in Ghana:
- <https://cardano.ideascale.com/a/dtd/368875-48088>
Sources:
1. Why conventional banking is not working for sub-Saharan Africa:
<https://www.imf.org/external/pubs/ft/wp/2004/wp0455.pdf>
2. How mobile money and other Startups are solving the African banking crises although financial inclusion remains low:
3. How mobile phones uniquely evolved to become the banking solution in East Africa:
<https://www.youtube.com/watch?v=1O83CnrKfkk>
4. Financial inclusion in Africa:
5. How Africa's ancient practices are being digitized for the future:
<https://qz.com/africa/1392527/africas-ancient-practices-are-being-digitized-for-the-future>
