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Moneygram is looking to implement some blockchain strategies but will inevitably get pushed away by fintech. Western Union is going to die soon, the abusive fee income they make is beautiful but kills immigrant families through Latin America, Caribbean and South America. The biggest help is probably Nubank in Brazil. There giving access to crypto. But I want Coinbase, Binance, unicorn fintech, or a phone company by implementing M-Pesa with Flow or Digicel. I would think the goal would be to teach ppl more about crypto and then use digital wallets to transfer money. The next goal would be to transfer funds with no internet connection. An Israeli company was investigating the ability to do this. Pardon the rant I just have a disdain for western union (I’m Jamaican 🇯🇲) so it affects me, family friends.
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Barring regulation both will die. For companies whose whole businesses are simple transfers, there’s just no way to compete with crypto.
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@management trainee, not sure why you didn't include the largest group (Africa) especially when M-Peds was developed/ made in Africa
I see you were paying attention to the M-Pesa reference 😎, Africa is the ultimate goal. The rate at which mobile phones on the continent is increasing. This will cause more apps to be created and interacted with. Especially the young population will not have complications in learning new technologies. About 1.7 billion ppl lack financial services. I was interested in Africa bc of the lack of digital services and the youngest population in the world, with a increasing birth rate. Countries across the world have decreasing birth rates or high elderly pop. This will cause immigration policies to change due to other nations wanting to stabilize their economy and provide immigrants for military services.
The first thing that needs to be established is digital identity, which will entice governments to create voucher programs. This may enable more efficient window guidance policies to credit. Farming vouchers will be the first concept to entice native citizens of African countries to stay and not become migrant workers or leave. If a company creates a Walmart and provide digital identity with a card/account, then give small loans to farmers in cultivating their crop and then selling those crops to back to “Walmart” then redistribute out to consumers or shipping them out to china/country that lacks arable land to cultivate staple products with a large population.
Later a financial arm can be created to give these farmers insurance. Currently rain insurance and high premiums make it inaccessible for farmers to stay in industry or scale their business.
If a country lacks proper financial services a fintech/unicorns example “Alibaba/ tencent” can be created with little government over sight at the beginning and scale with little competition.
Then with digital identity crop yields can be tracked with blockchain technology. Farmers can be assigned scores and get credit from investors overseas. Farming is said to produce a 7% apy.
A decentralized autonomous organization can collect the profit from crop yields and payout to investors as dividend and providing more capital to the farmer to become a consumer and buy products.
That’s just an idea 💡 but whichever company does this can push into different countries on the continent and provide municipality loans for roads to connect Africa. Most roads are in South Africa. Other areas lack access to one another. I would make roads with tolls on them, bypassing china backed loans.
Also loans can be provided for all the minerals that China seems to get in exchange for projects done on the continent.
Hope you like my ideas @EY-Parthenon 1
Name is Demaj Ffriend 🤫