Financial inclusion at the core
So here we are few weeks into our Beta test of the Fundchain app and it seems a good idea to go into a little more detail about the features at the centre of our platform, and provide a quick re-cap of how the Fundchain is helping to solve the financial inclusion problem using blockchain.
According to the World Bank, an estimated two billion adults worldwide don’t have a basic financial account. Let that sink in for a second; two billion people don’t have access to financial services that will allow them to save money, get a loan to start a business, or receive electronic payments from an employer.
Enabling these unbanked or underbanked individuals to attain a financial inclusion would have a significant impact on their lives. On a global level, it would be the right step towards sustainable growth, as financial inclusion is an enabler for 7 of the 17 UN sustainable development goals. This is one of the core visions our project has. We established the vision with financial inclusion at his heart and plan the product stages with it in mind too.
So far the beta application has been downloaded more than 100 times in google store alone and more than 50 plus money circles have been tested. Based on feedback from the testers, we continue to improve the application rapidly. During this period we also released the donation based crowdfunding feature to be tested and this part is were we faced few challenges as it takes a longer testing period to find the errors and bugs in this new feature. We have still not completely enabled all the crowdfunding features as we are going step by step to fix the errors and take things ahead in a stable manner.
We’ve learned a lot from the past few months. One of the things we’ve learned is that having a fundamentally strong project with real-world traction does not guarantee a steady growth in token value and project recognition. In the upcoming period, We are in talks with several individuals as well as entities to get equity investment for the project. As the project has been self funded by the team completely after we failed to perform in the expected level in our ieo. This is also the reason we cannot afford to go for high level marketing campaigns for the product and have to depend on a more word of mouth, moderate marketing campaigns for the project.
Moneycircles on Blockchain is the right step in the journey to financial inclusion for communities as well as individuals and fundchain is focused in that direction.
The App is currently live on the Android and iOS app stores and can be downloaded. The Fundchain Beta version of the App is deployed initially on the Ropsten Test Network. The Testnet is an alternative Ethereum blockchain, to be used for testing. Testnet coins are separate and distinct from actual coins, and are never supposed to have any value which helps our users to beta test the app without any lose of real coins. The most popular public testnet is called Ropsten which is the one we havedeployed our beta app on.
Start inviting your friends, families and let money organizers know that now there is a better solution to run moneycircle campaigns.
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