Particularly for POCs and refugees, groups that are often financially siloed.
In the U.S. alone, there are over 5.6 million unbanked households. These individuals are effectively removed from the economy. Over 90% of these individuals are historically marginalized groups.
We often call these groups A.L.I.C.E.: asset limited, income constrained, but employed. They're just like us, but can barely afford to live.Unbanked individuals are rarely able to claim ownership, make payments, obtain education/jobs, or gain capital and mobilize upward.
They become small in society, living line and the
poverty line and blending into the global poor.
Fidutam wants to ensure everyone has access to the market by removing documentation, income, and literacy barriers.
We've built an application based on the concept of microlending, or provided small amounts of funds to families and individuals.
To your right is a sneak peek of our application. It's based on a SIM Card and uses blockchain to provide $50 to $100 to unbanked individuals.Like this black box, users' information remains . Once a user makes a profit, they can pay us back the $50-$100!
EASY AS 🍰To use Fidutam, all that's needed is a selfie and your name.Fidutam requires no high electricity or internet, either. We just need a 2G phone, minimum.How we roll out the appWe work with on-ground partners through our network with UNICEF and 30+ churches and centers across 4 continents. They'll provide you with the SIM containing the app and tell you how to put it in your phone.?
As you can tell, our solution has virtually no limitations for users, and is tailored for the unbanked community, particular those with limited access. If you still didn't get how it works, click and try it out for yourself:
B User 48d6215903
f562e52e8...G User 4221da9f100a
6501fad5fe5...Y User cd6f408575
2c3490278...R User d599c0f42df7
5c18b42045f...
As you can see, when you copy the data in a user's block, you access their information (color and hex code). However, it's not visible to the public, as a math-based code called a hash is shown. Only the user can access and manipulate their data, but all their actions are recorded. This is how our system keeps track of everything while keeping users in control.
So far, we've piloted successfully to over 200 families in the Bronx, NY, Chicago, IL, and Allentown, PA. Check out our feature in the NASDAQ to see more updates. We also collected over $150,000 to finish a holistic study pilot in Enugu, Nigeria.
One of our un-bankers, Micayah (and her family), were able to make $5,000 in profits from a $75 micro-loan.
We are receiving mentorship and support from various companies, including J.P. Morgan, Visa, and several governmental ministries.
Fidutam has won a couple of awards, including nominations for Forbes 30 Under 30 and Time Kid of the Year as well as Highest Honors from International DECA, the CONRAD Competition, and Y-combinator.
We've been featured in several outlets too, and have participated in the Lehigh Valley Launchbox and were invited speakers at Web Summit in 2021.
Fidutam is looking forward to continuing its efforts through and beyond. We're planning implementation pilots across the U.S. and further moves in Nigeria, then China and India!
