How Blockchain Tech Could Change Haiti: Sitting Down with Michelet Romulus
Could blockchain technology be the answer to Haiti’s recent difficulties?
We recently had the privilege to sit down with Michelet Romulus, development expert and Director of the Haitian Chamber of Commerce in Great Britain. Michelet, a long-time leader in the real-estate sector, became interested in cryptocurrency in October 2017, when he saw a house for sale for the equivalent of 17 million pounds (21 million USD) — but whose owner was only accepting payment in bitcoin.
Since then, Michelet has delved deeper into the world of both blockchain technology and cryptocurrency, and sees immense potential for its use in Haiti. He spoke to us about concrete ways cryptocurrency could change the country, as well the hurdles to mass adoption.
Better traceability for donations
Since the 2010 earthquake in Haiti, relief efforts have been plagued with difficulties. Like the half a billion dollars raised by the Red Cross that seemingly vanished, or the money from the US government that never made it to Haitian citizens, fundraising efforts don’t have a great track record for arriving in the right hands. By collecting donations in cryptocurrency, the Haitian government and its citizens could allow for better traceability of donations on the blockchain. Not only that, but Michelet suggests using airdrops to give money directly and with a clear ledger of where it’s going, as opposed to donated food and other products.
A fast way to transfer money
Haiti is a part of the 400 billion dollar remittance market today, with services like Western Union and MoneyGram being extremely popular to send money abroad. Not only do these services charge high fees, but the Haitian government also takes a small percentage of such interactions — $1.50, to be exact. Thus, using cryptocurrency could be an excellent way to send money faster, and with lower fees.
Voting and property deeds
Michelet believes that voting via blockchain could be on the horizon for Haiti — but that it may be a few more years before it becomes mainstream. Projects like FollowMyVote could make for an easier and fairer voting process in the future. However, Michelet believes that the blockchain ledger could already prove extremely useful for better managing property deeds, which can be easily forged with the current system.
ICOs with a big impact
Michelet is also hopeful that the Haitian government could make use of ICOs by raising money for important local projects, all while maintaining a certain control of the project without compromising Haiti’s sovereignty vis-à-vis other nations.
How to reach mass adoption?
According to Michelet, mass adoption will come as the price of cellular data and smartphones decrease. While many Haitians already use affordable smart phones, the price of data remains high in comparison to neighboring regions like the Dominican Republic. He also cited microfinance opportunities and as an excellent way to spread awareness, and get the general population involved in cryptocurrency.
