Phase One: Research and System Design (Completed)

• Conducted extensive research to understand the needs of our target audience.
• Conducted a Study on a sample of our target audiences, refugees and unbanked people, and introduced to the proposed features of the app. They reside in Uganda, Kenya, and Ethiopia. More than 700 people are on a waiting list for early access. They are refugees, Students, Business people, etc…
• Completed the system design, laying the foundation for a robust and scalable application.

Phase Two: MVP Phase (0-2 Months)

• Develop UX/UI: Create a streamlined, user-friendly interface in native languages such as Tigrigna, English, and Amharic.
• Integration to Stellar Blockchain & Enable Wallet Creation: Implement Stellar Blockchain for secure and efficient transactions and Allow users to create wallets and manage funds.
• Fund Transfers: Enable sending and receiving of funds between wallets thus enabling the remittance and payment services.
• Create and Deploy the Backend Panel for Employees and Agents: This will enable employees to check and verify details of transactions.
• Take steps to gain traction (Such as creating accounts on all Social media platforms, creating educational content, and expanding and re-designing our website )
• Deploy MVP:  after through testing and provide Remittance service to the market.

Source of Funding: SCF Activation fund

Phase Three: Expansion and Integration (2-5 Months)

• Create On/Off Ramp Network: Establish a network for cash-in and cash-out services.
• Third-party API Integration: Integrate with third-party APIs for disbursement (Yellow Card), expanding our reach to 21 African countries.
• Mobile Money and Payment API Integration: Integrate with mobile money APIs and payment APIs for banks and utility companies.
• Enable USSD: By enabling USSD we will enable our customers to be able to access their wallets without the Internet.
• Promotion and Advertisement: introduce this application through marketing campaigns.
• Integrate with Bridge for easy USDC access: This will enable us to mint USDC at a large scale directly from Circle.
• Enable Crowdfunding Feature.
• Beta Version Deployment: Deploy the beta version of the app after thorough testing to ensure stability and security.

Source of Funding: SCF Community fund, strategic partners

Phase Four: Feature Enhancement and Market Expansion (6-8 Months)

• Advanced Features: Develop and implement advanced features such as Rotating Savings and Credit Associations (ROCSA) and virtual card issuance. Add an API that will enable usage of our system by other apps.
• Market Expansion: Expand operations to Ethiopia and South Sudan.
• Full Feature Release: Release the full-featured app, incorporating feedback from the beta phase to refine and enhance functionality.

Source of Funding:  strategic partners, investors

Zerayacob Araia Tedla:

   I graduated in Computer Engineering over a decade ago and bring 12 years of experience in app development as a full-stack programmer. My career began in Eritrea, where I developed applications and desktop systems for various government ministries and private companies.

I have a deep knowledge of security fundamentals, having worked in network and software security auditing. I am highly proficient in developing distributed and cloud-based applications, as well as backend operations. My expertise includes programming languages and technologies such as Java, Python, React.js, Node.js, Dart, Flutter, Spring Boot, and Firebase.

I am also familiar to with the local business environment and its opportunities. I will also be helping in developing and expanding our business. 

Currently, I reside in Kampala, where I work as an Operational Manager with BTC Hub Africa. In this role, I promote the use of cryptocurrency for everyday solutions, collaborate on app development projects, and teach programming to refugees.

https://www.linkedin.com/in/zerayacob-a-tedla-1abb64b9/

Filimon Kidane Fitwi

I am an experienced Senior Software Developer with over 12 years of demonstrated history in the software development industry. My skill set includes .NET, C#, Java, JavaScript, React.js, Node.js, Spring Boot, Flutter, Dart, and various web development technologies. Additionally, I possess knowledge in Figma for UI/UX design and project management.

I have strong professional interpersonal skills and hold a Bachelor's degree in Computer Engineering. Currently, I reside in Winnipeg, Manitoba, Canada, and work as a web and mobile developer with Kabee Enterprise.

https://www.linkedin.com/in/filmon-kidane-fitwi-370875105/

Natnael Yacob Asgedom

I am a versatile Software Developer and MLOps developer with a strong foundation in computer engineering and over 12 years of programming experience. Holding a Master's in Computer Science, I combine academic knowledge with hands-on experience to create impactful solutions.

I am proficient in React.js, Node.js, Java, Python, and the .NET framework. Currently, I reside in Helsinki, Finland, and work as a backend and AI developer at Futures Platform.

https://www.linkedin.com/in/natnael-yacob-asgedom-780374131/

Michael Tesfay Bisrat

I am a Senior Software Developer and website creator with over 12 years of experience in developing applications and desktop systems. I am deeply fluent in various technologies, including Node.js, Postman, Java Spring Boot, Java, Python, the .NET framework, and backend development.

Currently, I reside in Irving, Texas, USA, and work as a Software Developer at State Farm.

https://www.linkedin.com/in/michael-bisrat/

Solomon Okbagebriel BDM:Business Development Manager

Mr. Solomon is an Eritrean businessman and entrepreneur with over 12 years of business management experience. Solomon is a highly disciplined and educated individual with a bachelor’s degree in Business Administration from the College of Business and Economics, Asmara Eritrea. He is currently a CPA (Certified Public Accountant) Candidate in the United States. He has worked with various companies throughout East Africa and served as an accountant, finance manager, and business development manager, and other capacities. He is widely traveled and appreciates different cultures and work environments. 

https://www.linkedin.com/in/solomon-gabriel-cpa-candidate-57966b155/

In our previous submission, our team received several recommendations for improvement. We have addressed each point and incorporated the suggested enhancements. Here are the feedback points along with the specific improvements we have made:

Growth and Adoption Plan Implementation:

Feedback: Implement a detailed growth and adoption plan.

Improvement: We have developed a comprehensive growth and adoption plan designed to accelerate our app's uptake and ensure sustained, rapid growth. The details of this plan can be found in the Technical Architecture document.

Inclusion of a Business Management Expert:

Feedback: Include a team member to manage the growth and business aspects of the platform.

Improvement: We have recruited Mr. Solomon Oqbagabriel, a business management expert with exceptional credentials and extensive knowledge of the East African business ecosystem. Mr. Oqbagabriel will oversee the growth and business operations of our platform.

Detailed Stellar Implementation Architecture:

Feedback: Implement a detailed technical Stellar architecture.

Improvement: We have created a comprehensive Stellar Architecture integration document, which has been included in the Technical Architecture document.

Clarification of Circle Mint Usage Proposal:

Feedback: Clarify our Circle Mint usage proposal and explore alternative options for accessing USDC.

Improvement: After researching alternative solutions, we have identified Bridge and Yellow Card as suitable substitutes for accessing USDC. Detailed information on these options is included in the Technical Document.

Detailed Soroban Integration Architecture:

Feedback: Write a detailed Soroban integration architecture.

Improvement: We have elaborated on how Soroban will be integrated with our services, specifying which services will utilize Soroban. These details are provided in the Technical Document.

Our app aids financially underserved refugees and unbanked individuals in sub-Saharan Africa. Many Africans lack adequate banking. For example, 350 Million people are unbanked in Sub-Saharan Africa. Also, Millions of refugees don’t have financial access. Refugees often encounter hurdles accessing traditional banking due to language barriers, documentation challenges, and unfamiliarity with other financial options.

 Our app, utilizing Stellar, tackles these issues by providing vital services like remittance, digital wallets, payments, crowd funding, rotating savings and credit associations, and virtual cards. These solutions are crafted to offer refugees and unbanked individuals secure and affordable access to financial services, bolstering their financial inclusion and stability.

Remittance & Payment

Problem: In Sub-Saharan Africa, refugees and locals heavily rely on remittances from developed countries, facing high costs from existing providers—around 8% or more, including unfavorable exchange rates. Many resort to expensive Hawala networks for cross-border payments due to limited banking access.

Solution: Our system facilitates fast, secure remittance primarily for refugees and unbanked populations across 21 African countries. We leverage USDC transactions, establishing our own on/off-ramp system of agents and partnering with Stellar Network Anchors where necessary. USSD functionality ensures swift, secure payments for users without reliable internet access.

How it works with Stellar: Senders and receivers will get Stellar wallets where they will be able to send and receive money, by depositing and sending in USDC. Once the beneficiary receives the amount in her wallet, she can easily cash out the funds using our on/off ramp. This will make the remittance delivery to be cheap and fast.

Saving

Problem: Our target audience commonly resorts to holding their savings in cash, posing security risks, especially for refugees and low-income persons in crowded accommodations. There's a pressing need for a secure money storage solution. Moreover, local currency inflation exacerbates the risks of prolonged cash holding.

Solution: Our app enables users to securely deposit and save cash in USDC, safeguarding against inflation and theft. Developed in native languages  it ensures accessibility. We'll establish a proprietary on/off ramp system, leveraging local businesses and our agent network for convenient cash-out.

How it works with Stellar: Integrating with Stellar wallets allows users to easily deposit funds in USDC, enabling secure savings and protection against inflation.

Communal Funding

Problem: In African societies, a strong tradition of community support exists, aiding those in need with expenses like hospital bills and funeral costs. However, online crowdfunding poses challenges for our target audience, including high processing fees and difficulty in delivering funds to beneficiaries without access to financial institutions.

Solution: Leveraging our system, users can securely, and affordably transfer funds to designated beneficiaries. Upon reaching the predetermined funding threshold, beneficiaries can promptly cash the much-needed funds via our off-ramp system.

How it works with Stellar: We will designate wallets for such collections, allowing the beneficiary herself to access these funds streamlining the collection processes, making it easy and efficient. Additionally cashing out will be easy.

Rotating savings and credit associations

Problem: Rotating Savings and Credit Associations (ROSCAs) are highly popular in African societies, where members regularly contribute a fixed amount to a communal fund. Each member then takes turns receiving the total pooled amount, providing access to a lump sum. This mechanism is particularly beneficial for unbanked individuals. However, there is currently no secure method to facilitate ROSCAs for groups spread across different localities, which is common for refugees dispersed in various countries.

Solution: We will enable people to create wallets on our app and once they subscribe to a group for ROCSA payment will be made from their wallet to the common wallet. And when all the members of the group accepts the funds will be transferred to the beneficiary wallet.

How it works with Stellar: We will designate wallets specifically for such collections, allowing ROSCA groups easy collection and disbursement.

Virtual Card

Problem: Majority of Sub-Saharans don’t have access to card payment, blocking them out of international financial system. They cant purchase online causing many difficulties.

Solution: We will enable people to create and fund Virtual cards from their Stellar wallet by partnering with third party card issuing companies. Through this way people could easily access international payments by paying in their local currency.

How it works with Stellar: We will integrate Stellar wallets with the third party companies to seamlessly transfer funds from wallets to virtual cards.

Deliverable 1

Description: Development of a front-end interface for secure Login as well as creation and funding of stellar wallet accounts. Integrate with payment systems such as credit cards.

Completion Metric: Successfully log in and purchase USDC and funding wallet.

Estimated Date of Completion: 4 Weeks after funding

Budget: $7,000

Deliverable 2

Description: Backend integration with the stellar network to support the Transfer of funds between Wallets.

Completion Metric: Successful processing of transactions and transfers between wallets during testing

Estimated Date of Completion: 6 Weeks after funding

Budget: $9,000

Deliverable 3

Description: Develop a backend panel for employees and agents to review transaction details, thus enabling administrators to verify transaction reports and monitor the company's financial balance.

Completion Metric: Successful processing and verification of transaction details as well as monitoring of transactions by backend users.

Estimated Date of Completion: 8 Weeks after funding

Budget: $4,500