Skip to main content

Gravity Earth is using the blockchain to help refugees gain access to financial services

There’s considerable interest in the way blockchain technology could be used to manage personal data — so-called “self-sovereign ID” — but, to date, there are precious few examples of exactly how it might work.

At TechCrunch Disrupt Berlin on the Startup Battlefield stage, Gravity Earth gave insight into how blockchain can be used to help refugees gain access to financial services and other resources to raise their standards of living.

The Nairobi-based startup was founded by Johannes Ebert, Laurent Salat and Paul Langlois-Meurinne. It has developed a platform that allows a person’s digital data to be stored securely on its decentralized platform. That’s a lot of technical terminology, and in practice it translates to helping digitize data that can be used by NGOs who are working at refugee camps with some 80,000 people. In Gravity Earth’s case, it is close to its first deployment at a refugee camp in Kakuma, Kenya.

The rollout will see Gravity Earth’s solution used to track daily attendance at three schools in the camp, and student’s academic performance. That’ll be based on biometric data, with teachers able to upload performance and test data via a web app.

Going forward, Ebert said that the startup will work closely with NGOs to track other data and indicators that can be used to positively impact the lives of the residents in the camp.

[gallery ids="1752291,1752292,1752293,1752294,1752295"]

“Everyone in the camps is basically an unknown person, so every piece of information known about them gains a lot of value,” Ebert explained. “That could be tracking attendance in school, or basic identity such as age, the number of kids in the household, languages spoken, etc.”

Gathering data can be challenging, but the Gravity Earth platform allows third parties to provide and validate data on users. Validators are incentivized with bonuses such as free mobile airtime and lotteries.

“Trust is built and identity is validated through the community so being able to capture claims being made by, for example, a village chief is very interesting,” Ebert said. “How is this person connected in the network? How many people have validated them, etc.?”

The goal is to connect the platform to third-parties, such as financial services platforms, to enable users to gain access to banking, financial services, and more in the future. That requires some learning on both sides, with users educated on granting third-parties access to their data.

Gravity Earth has raised undisclosed seed money to date, and there are plans to raise VC capital in 2019. Ebert, however, said that the company isn’t planning to run an ICO.

“We’re not considering an ICO and we don’t issue any tokens,” he explained. “For us, the focus is really on the product — the front end — because there are so many things to figure out there. How do we drive adoption and keep our users engaged?”

The company is already looking at expansion opportunities focused on Africa.

“We’ll consider new projects once there are a critical number of users on the platform and we have rich data profiles for the users,” Ebert explained. “The thing we’d like to move to is access to financial services for refugees — we also see this as a way to monetize and prove our business model.”



from TechCrunch https://ift.tt/2BFUWuB
via IFTTT

Comments

Popular posts from this blog

Max Q: Psyche(d)

In this issue: SpaceX launches NASA asteroid mission, news from Relativity Space and more. © 2023 TechCrunch. All rights reserved. For personal use only. from TechCrunch https://ift.tt/h6Kjrde via IFTTT

Max Q: Anomalous

Hello and welcome back to Max Q! Last week wasn’t the most successful for spaceflight missions. We’ll get into that a bit more below. In this issue: First up, a botched launch from Virgin Orbit… …followed by one from ABL Space Systems News from Rocket Lab, World View and more Virgin Orbit’s botched launch highlights shaky financial future After Virgin Orbit’s launch failure last Monday, during which the mission experienced an  “anomaly” that prevented the rocket from reaching orbit, I went back over the company’s financials — and things aren’t looking good. For Virgin Orbit, this year has likely been completely turned on its head. The company was aiming for three launches this year, but everything will remain grounded until the cause of the anomaly has been identified and resolved. It’s unclear how long that will take, but likely at least three months. Add this delay to Virgin’s dwindling cash reserves and you have a foundation that’s suddenly much shakier than before. ...

What’s Stripe’s deal?

Welcome to  The Interchange ! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up  here  so you can receive it directly in the future. Every week, I’ll take a look at the hottest fintech news of the previous week. This will include everything from funding rounds to trends to an analysis of a particular space to hot takes on a particular company or phenomenon. There’s a lot of fintech news out there and it’s my job to stay on top of it — and make sense of it — so you can stay in the know. —  Mary Ann Stripe eyes exit, reportedly tried raising at a lower valuation The big news in fintech this week revolved around payments giant Stripe . On January 26, my Equity Podcast co-host and overall amazingly talented reporter Natasha Mascarenhas and I teamed up to write about how Stripe had set a 12-month deadline for itself to go public, either through a direct listing or by pursuin...