Payment with ADA in Ethiopia
Problem
People don't see the value of ADA since they can't use it in their daily life and are unable to use any of the existing platforms.
Solution
Create simple ways for people to pay with ADA locally and encourage merchants to accept payments in ADA.
Total to date
This is the total amount allocated to Payment with ADA in Ethiopia.
About this idea
NB: Monthly reporting was deprecated from January 2024 and replaced fully by the Milestones Program framework. Learn more here
Introduction
Current methods of using payment gateways are not possible to use in Ethiopia since the public is not permitted access to the international banking system. There are talks of the national ban lifting restrictions on international banking in Ethiopia, but this will easily take a couple of years before it is implemented.
This creates a great opportunity for ADA to be the currency of choice until this is implemented, as there are no restrictions on cryptocurrencies. The Cardano Brand is already big and growing in Ethiopia, and opening up the use of ADA for daily activities will exponentially grow this brand.
Implementation Plan
This Trial Plan will mostly target Venues, events, and networks that are most requested by the urbanites.
We have selected 3 main targets for the first phase of the promotion
1. Event Organizers
2. Tour Organizers
3. Local Bars in the City center
The reason these are selected as first targets is mainly because of the preexisting partnerships I have with merchants in these sectors and also, the large customer base that they have.
Marketing:
Customers would get the following benefts for using ADA as payment.
- Events: Purchase of early bird tickets at discounted prices with ADA
- Tours: Offer discounts if payment is made with ADA
- Bars: Free perks and lottery winnings when paying with ADA. Perks will include Cardano Swag, Bonuses in the regular lottery drawing, and ADA awards at regular Trivia Competitions held in most bars.
Merchants would be given guarantees for the first 3 months as well as training on cryptocurrencies and the Cardano ecosystem.
Cardano Logo will be displayed at the Bars and at Events as partners.
Timeline:
- Market Analysis: List out Target Merchants and Events for the year 2022 - November 2021
- Signup Merchants - December 2021
- Implementation and Assistance: Starting January 2022
- Trial Finalization: March 2022
- Expansion to More merchants (Not included in this proposal): Stating April 2022
Budget:
- Event Partnership and discounts: 3000 USD
- Perks at Bars: 2000 USD
- Tour Package discounts: 2000 USD
- Logistics: 500 USD
- Training Materials: 500 USD
Measure of Success
- Partnership with 5events
- 10bars Signed up
- Tour companies signed up
- 1000 Transactions by March 2021
Longterm Plan
We expect these merchants to a springboard to sign up even more merchants in the year 2022.
We have discussed a partnership with the Endubis team to use their upcoming payment telegram bot to facilitate exchanges.
With the success of this project, we will expand the project to more events and make it a standard for major events and Bars.
Team
I work with several merchants and Event Organizers as well as organize events myself.
