The topic of discussion is “Financial Inclusion for Social Impact.” The host introduces a panel of experts who are actively working on creating prosperity for all through innovative use cases of cello technology in various markets. The panelists come from different organizations, including Grameen Foundation, which focuses on financial inclusion initiatives for women and smallholder farmers.
One of the panelists, Ken, discusses the crypto pilots they have been running for the past two years. These pilots aim to drive financial inclusion in emerging markets. He highlights some of the successful pilots they have completed, such as a cross-border stablecoin payment for digital workers in Kenya and providing cash support to Venezuelan migrants in Colombia through a digital wallet.
Ken also mentions their pilot project in Cameroon, which focuses on defy savings. They aim to address the lack of access to high-yielding savings products for the average person in Cameroon. They are exploring the use of blockchain and crypto technologies to provide affordable and accessible financial services.
The panelists announce a broader piloting initiative that invites startups working on blockchain and crypto technologies in emerging markets to apply for funding and support. They are offering up to a million dollars and coaching to up to 10 selected startups. They emphasize the importance of partnerships and collaboration to bring these solutions closer to the people who need them the most.
Christine from Grameen Foundation shares a story about using blockchain to build a community-based entrepreneurial ecosystem in the Philippines. They initially provided immediate relief efforts using cryptocurrency and Valora for micro entrepreneurs. They later focused on creating long-term support through local partnerships and infrastructure development.
Elisa, the global lead of the Impact project, explains how they aim to bridge the gap for vulnerable populations. They collaborate with companies and microwork platforms to identify labor market needs and provide tailored trainings to individuals. They highlight the use of crypto and stablecoins to include financially excluded individuals and express the need to expand their pilot projects.
When asked about advice for serving underbanked populations, Ken emphasizes the importance of identifying the right partnerships and utilizing existing products and technologies. Christine highlights the significance of listening to the community, providing support, building trust, and understanding the spending behavior of different partners and beneficiaries.
Christine explains how they involve local networks and partnerships in educating the community about financial services. They train organization leaders who then select key individuals within the organization to become mentors. This approach ensures the dissemination of knowledge and technical assistance throughout the community.
Elisa briefly discusses the WFP Innovation Accelerator and encourages companies in the cello ecosystem to get involved. She suggests visiting the accelerator’s website and applying for their innovation challenges to explore potential collaboration opportunities.
The host expresses gratitude to the panelists for their inspiring work and their contribution to the mission of creating prosperity for all. The video concludes with appreciation for cello, which was a graduate of the WFP Innovation Accelerator, and an invitation to the audience to continue exploring efforts in Asia, particularly the Philippines, to make a positive impact.