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Project Keywords: #decentralized value
Project Members
- Thabo Moshoane
- Vuyani Ngcana
- Xolani Xolani Andile Ngcana
- Tebogo Moshoane
- James Mazivise
- Mosotho Moshoane
- Peter Chomba
- Themba Ndwene
Project Description (no more than 1,000 words including graphics)
Nyugu is a decentralized monetary value exchange dApp with an added decentralized marketplace. Decentralized value is what we bring, we cater for the LSM(Lower Segmented Markets), the unbanked, the Tuck-shop owner, the Salon owner, the Tavern owner, Carwash owner, the Taxi driver and the Informal Traders. Nyugu is a peer to peer digital monetary value chain. Nyugu empowers the economical disenfranchised masses to participate and grow, their monetary value in an ever evolving technocratic system. Nyugu provides a decentralised marketplace where registered and verified vendors can sell there goods and/or services to user/customers willing to buy their goods and/or services of value. We aim to increase cryptocurrency/blockchain adoption.
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Direct sales of the product to customers(Legislated deposit fee)
Online sales fees
Monthly offline service fee
Direct and Native Advertising
Problem
1. For the longest time the unbanked, more especially those without ID's(Identity documents) have been left out of the economy. The current system has moved liked these "unbanked", "credit unworthy" don't even exist. Many of these "unbanked" combined have enough money to maintain the liquidity for a sustainable ecosystem. The current system perpetuates a culture of segregation against the "ones" not recognized by the system as being "credit worthy",
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We feel Nyugu mobile money transfer app will be a disruptive innovation in South Africa , by banking the un-bankable and allowing SMME’s to enter the market. More than ever Nyugu will allow business and clients from low income groups to enter the e-commerce space and participate in the economy
Solution
a. We at Ankh Negus have a solution for this we will be working with the Tuck-shop owner, the Salon owner, the Tavern owner, Carwash owner, the Taxi driver and the Informal Traders. With our platform our users will be able to pay utilities like electricity bills, buy airtime and data and pay any retail fee.
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c. The minimum viable product is a decentralized money transfer DApp, what we anticipate will be developed during the prototype is functional decentralized money transfer DApp.
Accomplishment and Team
1. Thabo Moshoane - Head Project Manager
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b. We do need support developing the blockchain solution, we also need support with front end development.
Project Plan
Ankh Negus plans to partner with local municipalities to offer an extension of our services to townships and rural locations. We will empower the youth by training and assigning a hub as their own getting support from Ankh Negus to run their internet cafe’s.
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