Explore GEN family of websites, social media experiences, blogs and more.

Unleashing ideas.
Strengthening startups.

Back to search results
    Date submitted
  • 10-Sep-2018

KAOSHI

Abstract

Africa's first Peer to Peer International Money Transfer Network

Additional Questions

Who is your customer?

African immigrants and Africans looking to send money internationally.

What problem does this idea/product solve or what market need does it serve?

High cost of remittance in Africa

What attributes will make this idea/product successful? Why do you believe that those features will create success?

It is a formalization of an informal method of international money transfer that is cost effective and efficient and currently found to be used by 22% of the target sample in a recently conducted survey. Another 40% were aware of the method but have not had the opportunity to use it. An 84% of survey respondents indicated were extremely to moderately likely to use this innovation.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

We have developed a technology based on the sharing economy to solve the problem of high remittance cost in Africa. Our team comprises of strong technical talents with doctorate degree holders and highly trained software developers who have developed a fool-proof system built on the sharing economy