Detailed Plan
We will offer individuals and businesses the possibility to input and manage their addresses on the blockchain (potentially built on top of Atala Prism). They can optionally make their address information available by 3rd parties (banks, government, individuals, etc.) who request the information in order to grant access to their services (public, financial, health, etc.). The addresses will be both human-readable (e.g. what3words) and machine readable (GPS location).
Front-end entry will be via smartphones but, however, also possible for users which don't own smart phones i.e. entries can be made on behalf of 3rd parties.
Addresses will be classified with respect to their depth of verification. 1. Not-verified 2. Machine verified 3. Peer-verified 4. Institution verified. This classification can in turn be solicited by 3rd parties for decision making e.g. Credit scoring and lending
Those accessing the location information will optionally pay a fee and the users will be optionally rewarded for granting access to their address information.
Examples of Use Cases:
Opening a bank account
Regulators -especially in the CEMAC region- require individuals and businesses to provide some sort of address information to satisfy KYC requirements. This regulatory requirement is satisfied by handing the potential client a piece of paper on which he/she can draw a map indicating her home/business address. The piece of paper is the scanned and filed along with other account opening forms. A verifiable digital alternative will definitely streamline this process.
Due diligence for lending or micro-credit
A reliable and ideally verified address is generally a prerequisite for borrowing. Even access to a micro-credit for access to small loans (most often to women at the market on a daily basis), will only be granted if there is solid reference to where the business or person can be located in case of claims.
Delivery & Recovery
One of the promises of the AfCFTA (African Continental Free Trade Area) is development via intra-African trade. Movement of goods and sometimes services across borders and within countries can only be built on a rock solid addressing system which is often lacking in most countries or remote areas.
Navigation by Humans & Machines
Our solution will make it easier to capture, store & communicate location of individuals and machines in a both human and machine readable manner
Credit scoring
Credit scoring often depends on subtle factors which are sometime even more difficult to capture in Africa. Our multiple level verification could serve as input or entry level for scoring and ranking of individuals credibility and ranking.
Access to Utilities
Access to utility services (esp. water and power) requires mapping and overlapping of plans both from the providers and the consumers. Individuals with identity and location mapped out can be streamlined for access to utility services.
Integration of Emergency and Medical services
The link between identity, location and health (meta)data is the backbone for providing reliable healthcare and medical services. Putting control in the hands of individuals and making the information available as needed is something we hope to contribute towards and to help optimize for productivity and efficiency.
PR and Advertising
Individuals and Businesses can optionally make their identity/location information available for 3rd parties to reach out to them based on their interests. Individuals and businesses can earn rewards for making themselves available for advertising
Key Performance Indicators
Key Metric: Project Velocity, defined as a combination of base activity metrics from the timeline below
Activity Metrics: Captured as project activity and partly public deliverables from the project.
Community Metrics: Cumulative 50% growth of users on the platform up until critical mass is reached.
Definitions of Success
Three Months: Project setup and initial specifications for public and private interfaces to cater for all use cases.
Six Months: Implementation of major use-cases as proof of concept for both front-end and the nodes running the platform
Twelve Months: All stake-holders ramped up and co-exist on a growing platform.
We expect to launch on a testnet in a POC setting after 9 months.
Budget Breakdown
Total Ask: $250K USD over six months to take care of legal, bootstrap and accelerate development. Resources are also allocated for training of talent in Africa for later phases of the project. Budget based on a pro-rata hourly rate spread over up to five team members at inception. The budget assumes hourly rate of USD$90 that includes all overheads.
Setting up and running training programs: $60.000 USD (24)
Software Specification & Development: $120.000 USD (48%)
Web, Communication Technical Writing: $30.000USD (12%)
Business bootstrapping & Product Management: $40.000USD (16%)
Relevant experience
Co-founded and grew a digital payment solution (www.smobilpay.cm) which is tailored for Africa. Exited in April 2021 and now moving on and leveraging the experience for newer opportunities the blockchain presents. Over 20 years experience in IT entrepreneurship in Germany and Africa.