DeFi and Microlending for Africa

Microlending and DeFi dApps targeted specifically to the African context & based on historical cultural norms will accelerate user adoption

At least 5 viable projects with implementation plans for DeFi dApps, micropayment and microlending solutions in Africa

• Total time until MVP Launch
• Total Market Size
• Total Addressable Market
• 3, 6, 12-month product adoption rates after launch
• Total marketing reach pre- and post-launch 
• Whitepaper and Research documentation created
• Community metrics (social media, pre-sign-ups, email lists)

----------CHALLENGE UPDATE--------

With the first iteration of this proposal successfully voted on and now, with a challenge pot more than double of the original, we can move beyond research and begin to fund projects with serious plans for implementation.

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: https://www.researchgate.net/publication/316847980_The_Rise_of_Financial_Services_in_Africa_An_Historical_Perspective_The_Importance_of_High-Impact_Entrepreneurship

3. How mobile phones uniquely evolved to become the banking solution in East Africa: https://youtu.be/1O83CnrKfkk

4. Financial inclusion in Africa: https://www.afdb.org/fileadmin/uploads/afdb/Documents/Project-and-Operations/Financial_Inclusion_in_Africa.pdf

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

Challenge amounts should only be proposed in increments of $25K. Other amounts not in these increments will be rounded up. E.g. $27,500 will be rounded up to $50,000.