A Blockchain-facilitated Financial Inclusion Project Presented by - - PowerPoint PPT Presentation

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A Blockchain-facilitated Financial Inclusion Project Presented by - - PowerPoint PPT Presentation

Oct 18, 2023 111 likes •248 views

YOUR TRUSTED BLOCKCHAIN & XAMARIN TEAM October, 2019 A Blockchain-facilitated Financial Inclusion Project Presented by David Nguyen CEO - LotusApp CONTENT 1 WHAT IS FINANCIAL INCLUSION? 2 POVERTY PROBLEM & CONSEQUENCES 3

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SLIDE 1

October, 2019

A Blockchain-facilitated Financial Inclusion Project

Presented by David Nguyen CEO - LotusApp

YOUR TRUSTED BLOCKCHAIN & XAMARIN TEAM

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October, 2019 A Blockchain-facilitated Financial Inclusion Project 1 POVERTY PROBLEM & CONSEQUENCES

2

WHAT IS “FINANCIAL INCLUSION”?

1

LOTUS APP CONTRIBUTIONS TO THE PROJECT

4

SENTINEL CHAIN

3

KEY CHALLENGES

5

CONTENT

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October, 2019 A Blockchain-facilitated Financial Inclusion Project 2

WHAT IS “FINANCIAL INCLUSION”? “One of the goals of financial inclusion is access at a reasonable cost for all households to a full range of financial services, including savings or deposit services, payment and transfer services, credit and insurance.”

Former United Nations Secretary - General Kofi Annan, 2013 SAVINGS CREDITS PAYMENTS INSURANCE REMITTANCES

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October, 2019 A Blockchain-facilitated Financial Inclusion Project 3

POVERTY PROBLEM & CONSEQUENCES

Smallholder farmers contribute to 80% food supply, but more than 50% of smallholder farmers live in poverty

7

FAMILY SIZE

Large family size

1.6

CATTLLES

Miniscule number

  • f cattle

80%

FOOD SUPPLY

Major food supplier

50%

IN POVERTY

Half are living in poverty

No affordable loan No livestock insurance Rising cost of feeds and vaccination Unsustainable production

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October, 2019 A Blockchain-facilitated Financial Inclusion Project 4

SENTINEL CHAIN: SOLUTION

Sentinel Chain: Integrating livestock and financial services ecosystems on blockchain Unlock “Dead Capital” in Cattle for smallholder cattle farmers to finance working loans

Unbanked farmers FarmTrek Tag FarmTrek Mobile

CrossPay Blockchain Sentinel Chain Ethereum

Banked farmers

Livestock insurer Lender Offshore Lender P2P Lender

$500

COW VALUE

6.5%

INSURANCE FEE

19%

INTEREST RATE

1%

TRANSAC- TION FEE

Estimated Cost Of Financing Estimated Fee Estimated Value

$US 1 Billion

MARKET SIZE PA

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October, 2019 A Blockchain-facilitated Financial Inclusion Project 5

4.2 ICO in Apr-2018

InfoCorp won Entrepreneur of the Year in Singapore, 2018

SENTINEL CHAIN: KEY MILESTONES

Pilot project was carried out with 1000 livestock that were tagged NFC chips in Myanmar. Working with LBVD of the Myanmar Ministry of Agri to finalize the solution. MOU with Rwanda’s Ministry of Agriculture and Animal Resources Partner with Green Delta Life Insurance Company (GDIC), Bangladesh Winner of the United Nation ESCAP and UN Capital Development Fund's Fintech Innovation Fund to support Women MSMEs

  • Myanmar B2B Live
  • Rwanda Live
  • Kenya Pilot
  • Uganda Pilot
  • Kenya Live
  • Uganda Live
  • Africa and Asia

Expansion 2018 2019 2020 2021

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October, 2019 A Blockchain-facilitated Financial Inclusion Project 6

LOTUS APP’S CONTRIBUTIONS TO THE PROJECT

LOTUS APP team has been building this eco-system (Sentinel Chain, Farmtrek/Crosspay) from May, 2017 for InfoCorp (Singapore) until now

OUR WORKS

  • 1. Livestock NFC Tag
  • 2. Sentinel Chain
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October, 2019 A Blockchain-facilitated Financial Inclusion Project

LOTUS APP’S CONTRIBUTIONS TO THE PROJECT - cont.

  • 3. FarmTrek Mobile Application

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October, 2019 A Blockchain-facilitated Financial Inclusion Project

LOTUS APP’S CONTRIBUTIONS TO THE PROJECT - cont.

  • 4. Admin Portal

8

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October, 2019 A Blockchain-facilitated Financial Inclusion Project 9

General Director of LVBD Myanmar, InfoCorp Singapore team, with David Nguyen, CEO of LOTUS APP Mr.Roy Lai (CEO of InfoCorp) at LOTUS APP office in Vietnam

LOTUS APP’S CONTRIBUTIONS TO THE PROJECT - cont.

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October, 2019 A Blockchain-facilitated Financial Inclusion Project 10

KEY CHALLENGES

Anti-counterfeiting NFC Tag Communication between different Blockchain Networks

3 2

ICO Security & Regulation by Singapore Government

1

  • 13,000 users in 03 days
  • KYC Whitebox & Blackbox Penetration Test on all Software, Infrastructure & Mobile App modules
  • Some profiles were hacked during the ICO  Collaborated with Government to find out the hacker
  • Prevent delete/modify data in NFC chip
  • NDA
  • Built the Sentinel Chain Bridge
  • Smart Contract, PoA consensus
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October, 2019 A Blockchain-facilitated Financial Inclusion Project 11

KEY CHALLENGES – cont.

Systems operated across multiple Countries & Data Storage Rules Blockchain performance

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Low Internet Condition & limited configuration of old Android phones

4

  • FarmTrek is built by Xamarin. Compatible with Android 5.5 – 9.0. RAM only 512MB
  • Low Internet Condition. Real-time update new app versions & backward versions compatible
  • Compression & Encryption, Multi languages
  • Thousands of Test cases to ensure this “Banking app” is always stable
  • Projects in: Myanmar, Bangladesh & RWANDA
  • We had to decide which modules of system are belong to the Country-X and which modules are belong

to Sentinel Chain. And separated the system

  • In its current state, the Ethereum network can process a maximum of 15 transactions per second (TPS)
  • Caching data
  • The Pilot Beta system can serve minimum of 15,000 of daily users, 100 transactions per second
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October, 2019 A Blockchain-facilitated Financial Inclusion Project

THANK YOU!