Impact
Detailed description of your proposed solution.
Components of The Ziwwe Project:
Send ZEI to any recipient in the world that will receive the funds in their local currencies.
Match Maker functionality: Matching send transactions with local remitters to fulfill the transaction.
Audience:
People seeking to send money internationally to friends and family.
Small business seeking to remit money for the fulfillment of goods and services.
Local remitters seeking to join the Ziwwe platform to remit funds from senders to recipients.
Impact:
Senders can send ZEI to recipients anywhere in the world at minimal cost with a fast transaction finality.
Increase in the labor force of countries as local remitters, especially developing nations in the MEA region, are able to fulfill transactions and get compensated.
Increased GDP, since the labor force is increased for participating countries.
How your proposed solution will address the challenge?
Digital crypto assets can now be transferred from one source to a destination, received as fiat.
Grow the world! By allowing remitters sign up and use Ziwwe to remit money to recipients, the GDP of these countries increase, especially for developing countries.
Banking the unbanked. Allowing anyone from anywhere, especially developing nations to lend/borrow stable assets at competitive collateral rates, and also allowing lenders of stable assets to reap up to 20% APY in returns.
Risks and Challenges:
Remitter Network: The Ziwwe Project relies on local remitters in their countries. If there are no remitters in a given country, remittances cannot be fulfilled in those countries. Thus, there is a huge dependency on a strong global remitter network.
International regulatory concerns: Some countries have policies that may hinder prospective remitters from registering with the platform. While this move will not be beneficial to any country's GDP, all remitters would be required to abide by the laws of their countries regarding money servicing agents and transmitters.
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