Money Remittance and Lending

[IMPACT]

Components of The Ziwwe Project:

1. Send Cardano stable coins** to any recipient in the world that will receive the funds in their local currencies.
2. Match Maker functionality: Matching send transactions with local remitters to fulfill the transaction.
3. Lending and borrowing for stable assets with APY. Lenders can receive up to 20% APY on their stable assets.

Audience:

1. People seeking to send money internationally to friends and family.
2. Small business seeking to remit money for the fulfillment of goods and services.
3. Local remitters seeking to join the Ziwwe platform to remit funds from senders to recipients.
4. Node operators and Match Makers seeking to match Senders with Remitters.

Impact:

1. Senders can send Cardano stable assets to recipients anywhere in the world at minimal cost with a fast transaction finality.
2. Increase in the labor force of countries as local remitters, especially developing nations in the MEA region, are able to fulfill transactions and get compensated.
3. Increased GDP, since the labor force is increased for participating countries.

**Note: Cardano does not yet have any stable coins that are widely used by the Cardano ecosystem. This project is dependent on that.

1. Digital crypto assets can now be transferred from one source to a destination, received as fiat.
2. Grow the world! By allowing remitters sign up and use Ziwwe to remit money to recipients, the GDP of these countries increase, especially for developing countries.
3. Banking the unbanked. Allowing anyone from anywhere, especially developing nations to lend/borrow stable assets at competitive collateral rates, and also allowing lenders of stable assets to reap up to 20% APY in returns.

Risks and Challenges:

1. Stable assets: The entire Ziwwe platform is dependent on the availability of a stable asset in Cardano's ecosystem. At the time of this drafting, Cardano does not have a popular stable coin. Senders are only able to transact/send stable assets to their recipients. It is anticipated that Djed would have been released, and made available for use by the time Ziwwe is launched. We can completely avoid this risk by implementing an algorithmic stable coin, though this would definitely extend our intended launch date.
2. Remitter Network: The Ziwwe Project relies on local remitters in their countries. If there are no remitters in a given country, remittances cannot be fulfilled in those countries. Thus, there is a huge dependency on a strong global remitter network.
3. International regulatory concerns: Some countries have policies that may hinder prospective remitters from registering with the platform. While this move will not be beneficial to any country's GDP, all remitters would be required to abide by the laws of their countries regarding money servicing agents and transmitters.

[FEASIBILITY]

Year 2022

Q1: Ideation phase, market research, pitch deck

Q2: Finalize Software Requirements Document

Q3:

• Finalize POC (Mobile App - iOs/Android)
• Growth - Publications/Outreach/Marketing to grow Remitter Network**
• Development of Money Remittance Platform (MRP) v1

Q4:

• Seeking partnerships for Stable assets, DJED etc.
• Development of MRP v1

Year 2023

Q1:

• Beta Launch of MRP v1 on Cardano
• Auditing
• Growth/Partnerships
• Development of MRP v2

Q2:

• MVP launch of MRP v2
• Developing Stable coin lending and borrowing sub-platform

Q3 - Q4:

• Beta DJED lending and borrowing sub-platform
• MVP launch of Stable coin lending and borrowing sub-platform

** Remitter network growth initiatives will continue to happen all through the years to some extent.

Year 2022

Q1: Ideation phase, market research, pitch deck

Cost: Bootstrapped

Q2: Finalize Software Requirements Document, Illustrations, Design

Cost: $5000

Q3:

• Finalize POC (Mobile App - iOs/Android)
• Growth - Publications/Outreach/Marketing to grow Remitter Network
• Development of MRP v1

Cost: $10.000

Q4:

• Seeking partnerships for Stable assets
• Development of MRP v1

Cost: $10, 000

Year 2023

Q1:

• Beta Launch of MRP v1
• Auditing
• Growth/Partnerships
• Development of MRP v2

Cost: $10, 000

Q2:

• MVP launch of MRP v2
• Developing stable coin lending and borrowing sub-platform

Cost: $10, 000

Q3 - Q4:

• Beta stable coin lending and borrowing sub-platform
• MVP launch of DJED lending and borrowing sub-platform

Cost: $15, 000

Other Miscellaneous expenses:

Example: Licenses, Infrastructure (Cloud storage, Serverless, Containers etc), Subscriptions

Average cost for 2 years inclusive (2022 - 2023): $10,000 - $20, 000

Tochi Eke-Okoro, Founder and Pioneer.

Role: Business Strategist, CEO

LinkedIn: https://linkedin.com/in/tochie

I have personally bootstrapped this project to generate a proof of concept on mobile. This is intended to be a mobile application powered by Cardano. If funding is received, it will be used to hire Plutus and Full stack engineers to co-found and continue the implementation of this project.

Ziwwe Community:

• Telegram: @ziwwe
• Discord: Ziwwe Server
• Twitter: @ziwweProject

[AUDITABILITY]

1. Increased local remitters, signing up or registering with the Ziwwe platform to support remittance
2. Percentage of successful transaction
3. Rate of increase of the TVL for lending and borrowing
4. Rate of increase of liquidity

The above 4 points will directly determine Ziwwe's revenue and overall success.

Ability to have an end to end flow for sending money to an intended recipient in a selected country given that a recipient from that country was matched. This would imply that the first phase of the project can be launched. However, long term success is dependent on the influx of local remitters to the platform, which describes how fast we can grow the global remitter network.

It will also depend on community growth in our Discord and other social media channels.

This is an entirely new project, and its novel.