Please describe your proposed solution.
According to a survey from World Bank Findex Data, which says that 1.7 billion, close to one-third of adults were still unbanked in 2017, despite the Great strides made toward financial inclusion and 1.2 billion adults worldwide have gotten access to an account between 2011 and 2017. Although they have bank accounts, there are more who can’t access a loan from a bank because of the lack of credit, and they are even prevented from working without the tools they need because they can’t buy them. How can we get the people who don’t have enough trust but are willing to work to access the loan system?
Unfortunately, there are very limited ways for people with no credit to borrow money. Even if they could borrow, as far as these less developed countries are concerned, the banks themselves often do not have the funds and are forced to charge very high-interest rates. This stops poor people from being in poverty.
Our solution is to combine the power of Fintech and Web3, leveraging IOT (MCCS) devices, to create a new RWA financial service that will allow these people without credit to access loans.
With this approach, borrowers will be able to get a loan even if their own current credit is insufficient as long as they continue to work diligently using the mobilities equipped with MCCS. This will allow drivers in the transportation industry, cab, and passenger bus driving, etc., who have been paying exorbitantly high commissions to their masters because they do not have the tools to work, to have their own vehicles and take steps to get out of poverty while forming credit.
By mixing blockchain technology and this IOT device and the loan service, we provide the platform that enables companies that want to make a FinTech system for those who can't access traditional services to borrow funds from Web3 ecosystem investors.
We've already built our RWA Launchpad platform Prottype (You can check it through the Link) and have also cleared our services to be compliant with Japanese laws and regulations. In really early 2024, we plan to start test sale.
The prototype allows you to get a feel for the planned functionality.
From this proposed phaze, we plan to build the functions below.
- Create a wallet connector for Cardano.
- Add the function to mint CNFT to prove the investment
- Add the function to claim reward for holding CNFT that mentioned at2
- Upgrade the Design and the Site top
- Add functions to gain the satisifaction of user experience
The original design has limited functionality for an alpha version, but for βver we will upgrade it so that the purchase and ownership experience will feel like you are making the world a better place through your investment.
In addition to that, we will add access to content that will allow you to become deeply informed about the area in which you are investing and also you can know about some real end user who can access to loan through this fin-tech system, and also you can track their action through the IOT data.
We'll start on Polygon first, but we'll make the Cardano Wallet connector because, with our scheme, a solid, stablecoin is essential.
After a stablecoin proved a certain solid quality born on Cardano, we'll start service on Cardano as soon as possible. (For that, we'll make the wallet connector and test it)
After starting service on Cardano, we plan to incentivize our users to select Cardano Ecosystem through a higher reward than Polygon.
In Japan, in fact, there are not so many who are using Cardano native taken and Cardano Defi, but through this project, we aim to onboard people who don't know about the Cardano Ecosystem to our space.
Our company has been leading many successful NFT projects and NFT communities (Over 80K people in our community in Japan, we emphasize the Cardano advantage (Good for the community, for climate, for security, and so on) and bring as many as possible who are in the Ethereum ecosystem.
Also, we'll positively collaborate with the stakeholders of the Cardano ecosystem and spread the use-case of Cardano.
This solution idea is relevant to Cardano, as it leverages the power of blockchain to build an infrastructure for the unbanked. It aligns with Cardano's vision and fosters innovation in the our ecosystem.