Transforming Lives in the Heart of the Peruvian Andes: Blockchain-powered Financial Inclusion
An impactful collaboration between impactMarket, Ammer Cards, and the Celo Foundation.
Peru’s stunning landscapes and rich heritage have captivated the world, yet beneath this beauty lies a stark reality — millions of Peruvians struggle to meet their basic needs. This challenge not only hampers the nation’s social and economic progress but also poses a threat to the preservation of its ancient traditions and culture. However, a powerful collaboration is set to change this narrative and create a lasting impact.
Bringing Innovation to the Peruvian Andes
In a groundbreaking partnership, impactMarket, Ammer Group, and the Celo Foundation are joining forces with the local NGO, Agape Hands, to address financial exclusion and spur economic growth in the mountainous region of Tarma, Peru. This pioneering 3-month project represents the convergence of cutting-edge technology, ancient traditions, and a collective vision for a better future.
The true protagonists of this story are the people of the Tarma community, mostly unbanked and underbanked, and their resilience in the face of adversity. As Web3 technology meets age-old customs, we anticipate a unique narrative of innovation-enriching tradition. Beyond empowering underprivileged individuals with Unconditional Basic Income (UBI), one of the focuses of this pilot project is expanding possibilities to access, manage, and use cryptocurrencies on a daily basis while promoting local economic development.
Notably, this initiative extends its reach beyond beneficiaries to local merchants. Two entrepreneurs will be trained to embrace digital transactions, receiving Ammer’s Point of Sale (POS) systems and accessing the Ammer App to accept crypto payments. Additionally, these merchants will have the opportunity to access microcredit through impactMarket, further catalyzing their business growth. At the end of the three months, beneficiaries will also be able to apply for loans. This is aligned with impactMarket efforts to broaden its microcredit services to new geographical realms, paving the way for scalability and community empowerment.
“At impactMarket, we’re thrilled by the promise this pilot holds, as it presents a prime opportunity to demonstrate the practical applications of stablecoins in everyday scenarios, but this time, in the most familiar and user-friendly manner imaginable”, shares Jessica Gaubert, Chief Operations Officer at impactMarket. Jessica highlights that a number of communities, especially migratory ones, continue to grapple with the challenges associated with utilizing cUSD. These challenges encompass constraints stemming from limited access to centralized exchanges or the absence of viable off-ramping partners.
Through the adept utilization of Ammer technologies, this pilot has the potential to accentuate how stablecoins and blockchain can serve as a straightforward conduit for disbursing financial aid to individuals globally. This holds true regardless of their geographic location or level of technological familiarity. This significance becomes even more pronounced when we factor in mobile populations. “Beneficiaries would acquire the capacity to access funds seamlessly while on the move, without the hassle of seeking out cUSD-accepting establishments, searching for KYC-free exchanges, or engaging in protracted quests for third-party solutions. In essence, this pilot signifies a tangible stride towards streamlining and democratizing web3, ensuring its accessibility to individuals from all walks of life”, explains Jessica.
Ammer has its sights set on unexplored markets, aiming to bridge gaps among the unbanked. It seeks to promote wider adoption of digital wallets, fostering inclusivity and ease of financial transactions for all. This, in turn, contributes to cultivating a diverse and thriving user base.
“We are happy to support impactMarket in their mission to empower underprivileged people around the world. Everyone should have the freedom to exchange value, regardless of their location or financial status. That’s why we created the Ammer Web3 Ecosystem, a payment network that is accessible to everyone, even those with no knowledge of blockchain technology. We are excited to see how the two projects can work together to make a difference”, commented Victor Ammer, CEO of Ammer Cards.
Project Highlights
Duration: A three-month pilot project commencing on August 15, 2023.
Location: A community nestled in the picturesque Tarma region of Peru.
Mission-Aligned Partners: The project unites impactMarket, Ammer Cards, the Celo Foundation, and the Agape Hands NGO.
Impact: The project’s focal point is its beneficiaries — 50 individuals selected by Agape Hands — who will receive Unconditional Basic Income (UBI) through Celo Dollars distributed by impactMarket’s protocol. These recipients will also receive Ammer Cards and have access to their related Ammer wallets, enabling them to easily spend their UBI with preselected local merchants without the need to cash out their cUSD.
Leveraging the potential of Web3 technology and the borderless nature of blockchain, this transformative initiative aims to empower individuals and foster collective prosperity. Blockchain’s inherent transparency and security provide the foundation for real change in a community where financial inclusion has long been a distant dream.
A Pathway to Prosperity
This project marks the start of a transformative journey, where technology and tradition unite to create a brighter future. The combined efforts of impactMarket, Ammer Cards, the Celo Foundation, and Agape Hands paint a promising picture for Tarma, Peru, and the world beyond. As this pilot unfolds, it promises not only to reshape lives but to contribute to safeguarding the very essence of a nation’s heritage. Stay tuned for a journey of impact, innovation, and inspiration.
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Ammer Group
Ammer is a Swiss company that develops innovative products and solutions based on Web3 technology. The company’s mission is to provide the world with a payment system that would allow billions of people who do not have access to traditional banking systems to participate in the global economy.
Celo Foundation
A mission-driven foundation responsible for education, community engagement, and ecosystem support of the Celo platform.
impactMarket (The Human Empowerment Protocol)
impactMarket provides accessible financial solutions to empower underprivileged people all over the world, such as Microcredit, Unconditional Basic Income (UBI), educational content, and the Libera Crypto Wallet. Our inclusive protocol is transparent, reliable, and borderless. It operates as a DAO on top of the Celo network, using $PACT as its governance token while running autonomously through smart contracts.
