FOUNDING YEAR: 2016LOCATION:SingaporeREGION:Last Update:2 Jul, 2019Global presence:Bangladesh, Brazil, Colombia, Ghana, India, Kenya, Mexico, Nigeria, PhilippinesCompany priority:In fund-raising mode.
Incusivity is a decentralized platform providing financial and banking services to unbanked. Also offers payments and remittances services. Offers Meeting Points of Services (MPS) who are people who after having received basic training from Inclusivity become ambassadors, in charge of selecting, teaching and helping the Cash Points. Cash Points are merchants, small shops, micro-businesses, cafes, SMEs, that operate with cash. Offers People token as rewards to the users.
BANKING AND FINANCIAL ECOSYSTEM, AN ALTERNATIVE TO TRADITIONAL BANKING FOR PEOPLE AND SME: “BaaR: BANKING AS A RIGHT” INCLUSIVITY is a complete banking and financial ecosystem. The flexibility of the best Mobile Financial Solution (The next generation of "Mobile Money" operating without Telecommunications companies) and the strength and security of Blockchain (DLT), the only global system that unites both technologies. Adding to that a Biometric System to identify our user plus a network of Banking Agents and the largest network of Cash Points. “Banking without Banks and Telecommunications companies”, “Banking as a Right”, “BaaR”. With a mobile phone and our App, a person, groups or SMEs can have access to a complete world of services
PRODUCTS & SERVICES:Decentralized platform providing financial and banking services
EXISTING PARTNERSHIPS:jmp.ingenieros, LDJ Capital, BlockinJobs.com, Madana, BioSSL, Microcima Africa, Graffter
INTELLECTUAL PROPERTY:Patent(s) not Filed
PRODUCTS & SERVICES:INCLUSIVITY’S SERVICES 1.A.- KEY SERVICES OFFERED THROUGH MPS & CASH POINTS: 1.A.1.- IDENTIFICATION AND REPUTATION We place special emphasis on one of the most basic and most important services that an INCLUSIVITY MPS and Cash Points will provide to communities in order to participate and progress in our Platform: Identification: WITHOUT IDENTITY, THERE IS NO INCLUSION. It is the first step, 1.1 billion people are waiting for a response, especially women. INCLUSIVITY creates an Identity Record in the blockchain, where all users can register for free, especially those that do not have an official identity or are stateless people. Personal Identity aids women to become independent and to gain economic, management and decision freedom without being codependent of their husband, father or brother. The experience of our R&D team and partners brings solutions adapted to each environment (Biometrics: iris, voice, gestural, etc.), several projects have already been successfully developed by our team in areas of the world: Red Cross, mines in South Africa, etc. Also, INCLUSIVITY introduces an award-winning biometrics solution, able to respect the regulation of every single country. With a mobile phone and our App, we can safely register a person without ID so s/he can become an INCLUSIVITY user; Moreover, Meeting Points and Points Cash, will be able to help Authorities to provide official identity and to register those who need help: illiterate, handicapped, people without a mobile phone, etc. Identity allows people to defend their rights and to completely fulfil their obligations in equality. All users who are identified will receive PEOPLE Token as a welcome and incentive and will open their wallet to join the new "inclusive crypto-culture", including children, as a way of saving for the future and development of financial culture. REPUTATION: As a banking and financial ecosystem, INCLUSIVITY will manage ASSETS, digital and non-digital, and one of the most important assets in the future will be, after Identity, REPUTATION. INCLUSIVITY REPUTATION and Credit Score System is already developed. Unfortunately new-to-credit people and people with no credit history are excluded from access to credit, therefore the only way to create some sort of creditworthiness profile is to create an online interaction with them using mobile data and an engaging enjoyable questionnaire using Artificial Intelligence, Machine Learning and Use of Voice Detection for predicting fraudulent patterns, reducing the risk of lenders and giving access to credit to unbanked and young people. Also, the reputation of each Banking Agent (Meeting Point of Services, MPS) and Merchants (POS/Cash Point), established by the data provided by users and clients, will be the best possible quality control of the services. Voluntarily, a registry will be created for users who request it, which will be used as a true financial history record and "CREDIT SCORING SYSTEM", which will allow them to access loans, investments, crowdfunding, VC, partners, humanitarian aid and to be used in our Marketplace, which we will introduce later. 1.A.2.- FINANCIAL AND BANKING SERVICES As previously mentioned, INCLUSIVITY offers all financial and banking services necessary to join the formal economy; with access to the same financial tools as people in developed countries, but with lower commissions and fees and without distances. We are not a closed platform, any local bank with a social approach, Telecommunication company, any startup or company working on Fintech can offer its financial and banking services to the entire community of INCLUSIVITY and rely on the platform and on the network of commercial agents (MPS) in the territory of its choice using our Cash Points, we are an open platform, we are INCLUSIVITY. INCLUSIVITY’S FINANCIAL SYSTEM: INCLUSIVITY, in any case, and in any jurisdiction, it operates in, will comply with the regulations and will offer the banking and financial services that are allowed, always fulfilling the legal requirements. INCLUSIVITY will operate either by obtaining its own licenses or by partnering with local licensed companies. ● A personal identification system, a reputation history record and our own “Credit Scoring System” (KYC compliant). ● Access to top quality financial and banking services at "low cost" rates: To create a wallet; to send and receive money (even by SMS with a very old phone or even for the ones without phone, through a Merchant), P2P; to save without banking account; to pay goods and services and to cash in – cash out through the closest merchant (Cash Point), pay bills, vouchers / coupons (services, products, food, vaccines, humanitarian aid, blankets, etc.), multiple accounts for singular purposes (example: specific accounts for school or health payments). Financial Inclusion, available to everyone, close to customers, safe, affordable, transparent, trustworthy and convenient services, that is INCLUSIVITY. ● Access to insurance and micro-insurance adapted to each need and culture partnering with international and local insurance companies. ● Access to international markets through our Marketplace without middlemen. ● Send and receive remittances without being charged overwhelming fees (ie, international remittances from immigrants). Currently $ 580 billion are sent annually, with average commissions between 7.7 and 10% (the G8 and the G20 aim to reduce it to 5%, which would mean savings for migrants of $ 14 billion annually) You send your local money (dollar/euros/ others) and your friend receives local money in a few minutes in another country worldwide, the platform will find the best change at that time in the market. ● Access to entrepreneurship and financial culture. ● INCLUSIVITY will allow third parties to offer through the platform new financial services: loans, lines of credit and even crypto-financing, financial Marketplace (Crowdfunding, Token Sale, venture capital, microfinance, etc.). ● A system able to work in fiat money and cryptocurrencies. (Except in countries where cryptocurrencies are not allowed) Our small and fractal business structure, the lack of bureaucracy and the maximum control and security that the INCLUSIVITY blockchain platform provides, plus the physical contact with Meeting Points and Cash Points makes it possible to offer very low-cost services in places where actual banks have closed offices or haven't even opened one due to distance, costs and remoteness. INCLUSIVITY: “The largest and cheapest Banking and Financial Network, with the most efficient technology in the world, today". INCLUSIVITY incorporate the highest technology in banking security and in compliance with financial international and national regulations and in terms of KYC, AML and CFT. 1.A.3.-INSURANCE & LOGISTIC SERVICES: Insurance and microinsurance companies will also be able to use the platform to offer their insurance services and manage through the MPS and Cash Points all incidents and claims that arise. Our Blockchain becomes a key tool to certify time, place, data, photos, videos, etc. in the claims. WITHOUT INSURANCE THERE IS NO INCLUSION, especially in the agricultural sector and in rural areas. In rural sectors insurance should be an essential service, in this sector insurance and microinsurance will guarantee an income. Now you can get or lose anything in a minute; houses, especially the humblest ones, can be insured in case of a loss, the artisans can be insured against illness, disability, payment risk, etc. INCLUSIVITY will integrate into the platform the best insurance companies if they understand the role that insurance has in social inclusion and adapt their products and services to this tremendous market. Our "Mobile Financial Solutions" ecosystem also dives into the micro-insurance market by being able to automate and split payments and even create "pay-per-use" insurances, that you can buy directly into the Cash Points. LOGISTIC PROVIDER: Creating alliances with the main providers of logistics services in each region: Parcel and eCommerce providers, Post Office, etc, the MPS will provide another essential service, collection and delivery of letters, documents, packages and products. in the "favelas" (Brazilian slums), wherein many of them the streets have no name or number. This logistics service is also key to the proper functioning of our Marketplace, since the MPS will be a point of delivery for craftsmen's products and also, a collecting point for products that users can buy anywhere in the world at competitive prices. Every movement will be registered in our blockchain and through Smart Contracts, the buyer, the seller, the logistics company and the MPS will have guarantees in each operation carried out. The services will be charged with a stipulated fee with the intervening agents. The excluded will be able to buy products and sell products and services online by having means of payment and a collection and delivery address of letters and packages in each MPS and each Cash Point. A huge new market for e-commerce companies and a new opportunity for inclusion. 1.B.-MARKETPLACE: The economic centre of the platform will be a large Marketplace where the wall that separates the two worlds is finally torn down and where everyone will have equal access to goods and services, without intermediaries and at market prices, without the inefficiencies that cause a higher price for the "underserved" and poor. A mobile phone or a computer is all that is needed to access INCLUSIVITY's Marketplace, therefore, any company, however, local or small, will have the possibility to offer its services via INCLUSIVITY and the users of the platform will gradually be encouraged to create and to offer their own services, without barriers or intermediaries, in this great marketplace, accepting both People Tokens and fiat money (without problems about Currency changes between seller and buyer), the easier, the better. The Marketplace is also a great networking place, where entrepreneurs, investors and professionals can meet to undertake new inclusive projects. In the communities, startup incubators and accelerators will be encouraged to use the marketplace to offer their products, find travel companions, investors, customers or suppliers. Through inclusion, new users, artisans and entrepreneurs, will become the future professionals, providing quality services to their communities and via the marketplace worldwide. “Talent is equally distributed around the world… opportunity is not” Rebeca Grynspan, Ibero-American Secretary General With the proper training, thanks to our partnership with Blockinjobs, anyone could become a blockchain professional, or software developer, create Apps, video games, applications, etc. being able to compete with actual professionals that today control the market sphere. INCLUSIVITY becomes a worldwide Marketplace where all PEOPLE Token holders will be able to buy and offer goods and services. All this system implemented in a community, in a favela in Brazil, for example, will improve the lives of the population, always respecting their idiosyncrasies, but above all, they will be given the option of becoming owners of their acts and the main character of their future. We must create an option outside violence and drugs, we have to boost the creativity of people and their desire to develop new economic activities and future jobs in a new, fairer economy, where talent is an asset and the good reputation is the best credit score system. Meeting Points of Services and Cash Points will be the element of contagion and cohesion of the whole system... 1.C.- OTHER SERVICES OFFERED BY THE PLATFORM: All these services will be offered through the platform either by INCLUSIVITY or the selected partners, experts in each one of the fields. 1.C.1.- REGISTRIES: .- Physical Property: farmer´s land, real estate, and all kind of assets and liabilities; .- Intellectual Property: to register projects, ideas, work of art. Instructions and .- Memory Registry: conceived to preserve people's, families', communities' and town's culture. It is even possible to register languages and dialects in danger of extinction. Getting the poor to have titles of their properties and be registered would change the status quo of the world’s economy, many of them would no longer be poor and would have access to credits with the guarantee of their assets. The first step for this is to have an asset registry that is easy to use, safe and that can’t be manipulated. INCLUSIVITY provides these Registries as general services of the platform and for the Communities to be able to incorporate and adapt in order to obtain in the near future the recognition of the States and the financial strata, as Professor Hernando de Soto has shown in Peru. INCLUSIVITY will encourage the registration of all types of assets, in the belief that in the future the value will consist of totally different assets than the current ones (reputation, talent, social contributions, capacities, networks, etc.) 1.C.2.- OPINION AND VOTES: One of the most interesting utilities of a blockchain platform is that you can create election, vote and opinion mechanisms that are impossible to manipulate and that preserve the voter’s identity. Companies and organizations may ask questions to INCLUSIVITY’s members to know their opinion, intention or to obtain objective data. For example: what sowing system farmers use in Somalia or what they plan to plant next year. This information will be a service offered by INCLUSIVITY and its remuneration will be distributed between the platform and the owners of the information, always with the maximum respect to international laws of data processing and the people’s privacy. Knowing people’s opinion can help organizations to make better decisions and even to avoid problems of corruption and misuse of goods and services. As we will be explained on the Business Model INCLUSIVITY will respect all the international regulations about DATA (ie: GDPR).
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TOP PROBLEM SOLVED:SCENARIO: Billions of people in the world do not have access to services, 1.7 billion unbanked, 1.1 with no Official Identification (ID), and more than 4 billion people are underserved, people who, in theory, do have access to services, however, these are complicated, excessively expensive or very far away. All these people live in a non-formal economy where cash operations predominate; there is neither financial culture nor security. There are Micro and SME all around the world that don’t have access to credit. Unidentified population: An official Identity is the key to have recognized rights and duties and access to essential services such as health, education, finances, justice, etc. According to the World Bank, this problem affects 1.1 billion people worldwide. Thanks to improved sources of information and mainly to the rapid implementation of the Aadhaar system in India the number of people without identification has lowered from 1.5 to 1.1 billion, the same about reduction in the number or unbanked from 2 billion in 2014 to 1.7 in 2017 (Source: Global Findex World Bank 2017 ) Refugees 22.5 million, more than 65.6 million forcibly displaced people worldwide, now we must add the exodus in 2017 of more than 1.5 million of Venezuelans mainly to Colombia, Panama, Spain and Brazil. We must not forget about Rohingya people and other communities forced to leave their homes. And 10 million of Stateless people. IS FINANCIAL EXCLUSION A MAJOR PROBLEM? Indeed, one of the most important, it affects more than half of the world’s population, the global economy and the health of the planet. Moreover, it is a critical element for the success of the Sustainable Development Goals set by United Nations. “… all too often, the poor tend to reside in high-cost ecosystems even within developing countries. In the shanty town* of Dharavi, outside Mumbai, India, the poor pay a premium for everything from rice to credit, the poor in Dharavi pay 600 to 1,000 percent interest for credit from local moneylenders. A bank with access to this market can do well for itself by offering credit at 25 percent. These cost disparities between the poor and the rich in the same economy can be explained only by the fact that the poverty penalty at the BOP is a result of inefficiencies in access to distribution and the role of the local intermediaries”. (C.K.Prahalad) *Slum, Favelas in Brazil. HOW ARE WE GOING TO DO IT? .- FORMATION, the first step: The basis of this ecosystem is coaching at every level. We are working to create the "Coaching of Coaches" Program. The MPS will be educated to be a responsible entrepreneur; each one will be responsible for the creation of wealth in his/her town. Learn about products, prices, returns and be an advisor and assistant of the customers in town. The basic training will consist on the philosophy and functioning of INCLUSIVITY; Better informed, educated and with decent incomes, this new class of entrepreneurs will feel worthy and prestigious becoming the best ambassadors of INCLUSIVITY. MPS will be responsible of selecting, coaching, advising and helping the CASH POINTS, later the training will be specific for each product or service that the Cash Point will have to offer. This type of symbiotic relationship in the ecosystem creates a victory for everyone. Our core is not the headquarters, nor hundreds of employees and controllers, our core, as we have seen, is the physical network of MPS and Cash Points with its great capacity of contagion and scalability adapting to the environment, even if distance or orography are complicated. The more MPS & Cash Points, the more value is added as more interconnected people are heading towards the same direction, without headquarters and bureaucracy. This is an unstoppable movement with a common objective: social awareness and inclusive business.
PRODUCT DEVELOPMENT STAGEMVP
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FOUNDERS:Antonio Sainz (CEO), Eduardo Remirez Miguel (CTO)
NUMBER OF EMPLOYEES:11-50
KEY EMPLOYEES:Antonio Sainz (CEO), Eduardo Remirez Miguel (CTO)
FOUNDERS:Antonio sainz, Eduardo Remirez
NUMBER OF EMPLOYEES:1-10
CEO: Antonio sainz
CTO: Eduardo Remirez
TEAM COMMENT:Viewable by subscribers only
BOARD MEMBERS:Maria Sainz-Aranguren
ADVISORS:David Drake, Jefferson Bandeira de Mello
Insufficient information for accurate analysis
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FUNDING NEEDED$1 Million
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