Addressing the UN’s SDG Goal #1: NO POVERTY

With the first of its kind ‘Micro Wealth Foundation.’

Phone Number • Funds lockup • Education = Asset creation • Build more wealth

Creating generational impact for the underprivileged.

 

The Global Philanthropy Report 2020: claims an estimated $1.5 trillion is spent through around 260,000 foundations globally to address around 689 million in extreme poverty. That’s an allocation of $2,000 per beneficiary. Imagine if even just half of that was disbursed directly to the beneficiary in BTC in a custodial account and 90-95% locked-up for 4 years, creating an asset that can then be leveraged to mortgage a house, start a business and/or buy insurance, what a life-changing generational impact it could have on the family’s future?

We are a group of professionals with diverse successful careers who have been fortunate to travel the world and have seen and met some of the poorest of the poor and the richest of the richest communities. We have volunteered and gained first-hand experience of what positive social impact looks like in Asia, Africa and Europe. We believe in the power of blockchain, cryptocurrency, Web3 and specifically Bitcoin’s potential to create life-changing generational impact. We believe that Bitcoin can bring generational ‘Micro Wealth’ to millions of underprivileged people – and we know how to do it.

 

THE PROBLEM: There is no doubt that microfinance models have created short-term impact on consumption needs, but its harsh terms and high interest rates to cover its risks and borrowing costs, has generally stopped short of creating generation impact on poverty. In fact, in a May 2022 Bloomberg article on the failures of microfinance, the research indicates how big-money pouring into this sector has caused even more poverty and led people into to a viscous debt spiral and even suicide.

​

Recent attempts have been made by crypto stalwarts who have introduced interesting crypto models that are based on the concept of helicopter money trying to address consumption needs of the poor but each have their own drawbacks. The main drawback is the fact that they rely on issuing a new coin and creating value for that has been challenging, not to mention the complexity of their models.

​

THE SOLUTION: Our goals of positively impacting the lives of underprivileged inspired the ‘Micro Wealth Foundation’ model that makes asset/wealth creation possible to build generational impact.

The strategy is to enable the creation of a special custodial micro wealth lock-up and look-up account. Upon registration and validation, the Foundation would deposit Satoshis (Bitcoin) daily equal to $X/day or more and a bonus every month or quarter for maintaining the account. This success of the model is achievable by combining mobile pre-paid (pay-as-you-go) phone numbers serving as unique IDs, Bitcoin and issuing these special custodial ‘Micro Wealth accounts.’

 

The amount of money disbursed would be based on a weighted average of the per-capita of the country where the phone number is registered. Majority of the value would be locked for 4 years, creating an asset held by the Foundation which can be collateralized by the beneficiary to secure a loan from a local financial institution at reasonable market rates for engaging in economic activity to further increase their wealth. A verification system would ensure that the person is alive by using their phone to prove ‘proof-of-life,’ and ‘proof-of-physical-work,’ – whereby the beneficiary must work => to earn => to pay => to maintain their mobile phone number, or they end up losing access to their wealth account. After the 1st year beneficiaries will be able to use 5-10% of the value that they receive each month to pay for life, health, agriculture, livestock insurance till the end of 4 years.

​

We have a comprehensive whitepaper and model, and are seeking likeminded people like you to come together and contribute time, knowledge, skills and resources to support the launch of the first of its kind self-sustaining ‘Micro Wealth Foundation’ based in New York. The Foundation will work with a strategic, innovative crypto exchange, economists and social development experts, and a global communications agency to initiate a small pilot in an African country to prove out the concept and gain learnings over a short period of time which would be applied to strategic phased rollouts across the world.

​

I hope you will join us in making the vision of creating generational wealth for the underprivileged a reality.