Is the BM team going to provide other financial services, insurance and become a financial powerhouse? Market is suitable for this purposes. And competitors in this market already doing it... Mi-Life (life insurance) for 23 cents a month users get covered for 100 dollar. Mobile micro insurances.
Thanks for asking. That is the plan as we see it. Disintermediate the old delivery systems with their rent-seeking middlemen, and use our built universal value exchange to deliver a full suite of less expensive, more transparent, more reliable financial services to communities whose lack of access is hindering their own economic growth. Simply look to the economic explosion that occurred in China when the stifling old communist system was thrown off, and working for personal gain became possible. We see hundreds of other communities that will explode once the proper economic tools are delivered to them. As you cite, that is not just free money transfer, but depository services, insurance, micro-credit, and a universal tracking mechanism that allows for credit scoring based on a behavior profile that is appropriate for that region, not the First World.
To do that sustainably, the delivery of those financial services has to be profitable, not subsidized by NGO grants or government aid. That sort of help is inefficiently and inconsistently delivered, and is not the long term answer to true financial inclusion.
Show Posts
