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It is well known that specific technological innovations have enabled developing countries to leap into the 21st century. For example, the use of mobile phones in mobile banking has allowed people in Africa to manage their finances more effectively. Emerging markets do not need large, costly infrastructures which would take years to build. They need more significant efforts of humans and devices by building trust and working together collaboratively to bring everyone to the digital economy. If technological progress can accelerate development, it should also be used to improve the efficiency of our work
Effectiveness in development implies that all strategies and policies are based on a solid knowledge of the diversity of developing countries. To obtain that knowledge, CrowdForce has created a way to collect reliable and valid data, often in the impoverished regions and turn it into opportunities to empower local merchants giving them digital identities, histories, while obtaining credits powered by the Blockchain.
The modern economy and the world of finance do not provide sustainable growth and wealth for the majority of the world’s population. This is so because of an inherent defect of the global monetary system: it generates inflation continuously. Those who can afford to be a new business will look for tools to preserve their money for long-term value, such as bonds, funds (mutual funds, hedge funds, real estate), any combination of shares or buying new assets.
Unfortunately, this information and tools are not accessible to everyone. Emerging markets have a very high inflation rate, there is very low stability, and a large part of the population does not have easy access to banking services. According to Worldbank, Globally, 1.7 billion adults remain unbanked, yet two-thirds of them own a mobile phone that could help them access financial services. Also, financing and investment are only available to high net worth individuals or accredited investors. As a result, the gap between them and those outside the system grows more and more. Under these conditions, there is an increasing need for accessible financial services available to all citizens.
There are over 3 billion underbanked and unbanked people in the world, mostly in emerging markets. The top reasons why these people remain unbanked are:
- Lack of trust in the centralized financial sector.
- Lack of access to banking services in their area.
- Costly transaction fees and not enough money to justify incurring such costs.
- No digital history, therefore, no opportunities for lending.
CrowdForce aims to solve these problems by empowering the local merchants with the “PayForceMobileApp” that gives them the capacity to be agent banks in their area. These agent banks are incentivized through commissions and can start up and get started in less than a day by merely funding their wallet with cash that t is their capital startup.
CrowdForce’s blockchain technology can contribute a lot to financial inclusion: With a shared record set in the blockchain, a person can certify their identity, their possessions, and their credit history, in a transparent way and for all the participants of the network.
CrowdForce uses mobile technology and the largest merchant agent network to help businesses, banks, digital wallets, and exchange companies access the underserved population in emerging markets.
The CrowdForce Mobile app will work with the CrowdForce platform which will initially be built on the Ethereum platform and over time moved to the CrowdForce blockchain platform.
The CrowdForce Platform allows businesses, banks, digital wallets, crypto exchanges, and developers to set up micro tasks and services. These will instantly be made available to all agents on the network via the application on the merchants’ phones or POS systems.
|Micro Services||Micro Tasks|
|Utility Bills (Electricity, Airtime,
|Market Research and Surveys.|
|Cash In and Cash Out.||Retail Audits and Census.|
|Account or Wallet Opening.||Mystery shopping Tasks.|
|Sports Betting.||Data Verification (Businesses, KYC,
|Buying and Selling of Cryptocurrency.||Citizen Engagement.|
|Top up fiat money in a digital wallet.||Consumer Insights.|
|Crypto-Fiat Exchange.||Image and GPS Capture of Locations of
The “CrowdForce” Pre-sale begins on September 15, 2018, while the TokenSale commences on the 12th of November, 2018 and will end on the 14th of December, 2018.. The goal is to secure funding to finalize the development of the “CrowdForce” platform, as well as drive adoption of the platform across all Emerging markets.