70% of worldwide mobile money transactions are completed in Sub Saharan Africa. Not by banks but by Telcos that have learnt the hard way how to innovate from scarce resources. In Kenya, M-PESA proved it. One telecom company, using basic phones and zero banking infrastructure, now processes half of Kenya's GDP. Telcos have leapfrogged banks to provide voice and data services, mobile money payments and financial services.
This innovation momentum will only increase though there is a challenge to winning new customers- many of which only earn the equivalent of between $5 and $15 a day. How can they afford smartphones and user charges?
ReLeaf-Financial has stepped up to the plate with its patent pending blockchain and crypto currency platform. What if a Telco could utilise the unused compute power of its users' smartphones and pay them $10 to $15 a month in crypto currency? Over time that pays for a new smartphone, an upgrade from a basic phone to a smartphone, and/or a significant contribution to user costs.
ReLeaf is integrated with the Telco's own technology ecosystem as a backend application leveraging the security, compliance and tehnology the Telco already deploys. The user has exactly the same UX and in that sense is a passive user requiring no change in behaviour.
Releaf validates digital payments and proof of intent #POI in the background and will also integrate with financial services offered by Telcos such as micro-contracting, micro payments, embedded insurance, micro loans; the list is only limited by the Telco's ambitions.
The business model is adaptable to each Telco's needs and market potential sharing a new revenue stream between customers, the Telco and ReLeaf. An inclusive model that can speed up the adoption of mobile money and financial serices as new customers can afford smartphones and user charges. Making a big difference to their lives
Business and technology leaders should consider four realities:
Market dynamics have changed. The next 2 billion users won't copy Western patterns. They need mobile-first, crypto-enabled solutions designed for tiny transactions.
Money is data and data is money. Transactions can and should generate monetizable data, that encourage and enable additional transactions--in a flywheel effect.
Telcos are the new banks. In emerging markets, phone companies already facilitate money transfers. Partner with them or lose access to these markets.
Speed matters. Network effects will quickly lock in winners. First movers will build ecosystems that become nearly impossible to challenge.
Follow the link to the Forbes article below for more context and to explore the competitive advantage that ReLeaf offers SSA Telcos and their customers
David Chaum, the inventor of digital cash in the 1980s and creator of much of the encryption that protects modern transactions, warned about surveillance capitalism decades before Facebook existed. Yet he helped found ReLeaf. "ReLeaf is what I have always dreamed that cryptocurrency would be," Chaum says. “A win for telcos, retailers, and consumers.” Coming from the man who founded DigiCash in 1989 and whose patents enable every secure transaction today, this means something. Chaum wanted regular people to control their money without surveillance or permission. He imagined cryptography empowering individuals, not corporations. After forty years, he sees it happening through ReLeaf's approach: phones earning money for their owners without tracking or central control.
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