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 previous, we can move beyond research and begin to fund projects with serious plans for implementation.

A selection of funded 'DeFi in Africa' proposals:

• 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: 

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://www.youtube.com/watch?v=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.