Digital Expatriate Bank
Posted 2 years ago
Using Blockchain-powered technology to reach the millions of Sudanese who have been pushed to the informal sector
Expected outcome: 1) have access to real time business/market information 2) Share and monitor sustainable input and best/growing practices 3) Establish credit records and have access to much needed financial services, and 4) For policy maker to have accurate records to monitor and evaluate.
The last 30 horrifying years of injustice and misrule in Sudan pushed millions of Sudanese breadwinners to the margins of the informal sector with many struggling to make a living through daily labor or by attempting to establish small businesses that they have no skills to manage,…eg tea makers, street vendors,…etc. Some take a huge risk by selling their limited assets in search for capital which swiftly gets eaten up by the overwhelming survival demands. The deal without formal records, which prevent them from building credit histories, thereby restricting their access to much-needed financial services. Technological solution are now becoming available, some still being tested for improved efficiency, but largely rolled out in every corner of the planet for the unbanked workers and small business holders…Bockchain-powered technology is one such solutions.
Driven by Corporate Social Responsibilities or by seeking supply chain insights, many are now beginning to use blockchain-powered software – featuring mobile identities, immutable transaction records, and digital payments to grass root workers and small business holders.
In the new democratic era, I expect a staggering number of companies to venture into businesses in Sudan. I strongly believe we should be ready to cease the opportunity to impact this huge and most in-need segment of our society, effectively and within a record time by starting from where others end by creating the necessary links and IT platforms. I am not an IT expert but I managed a very successful initiative to empower small holder farmers in Zimbabwe, an experience which can easily replicated to help our people. I am more than happy to share it
2- Stabilize the Economy
8- Decent Work and Economic Growth