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Project Keywords: #decentralized value
Project Members
- Thabo Moshoane Thabo Moshoane
- Vuyani Ngcana
- Xolani Xolani Andile Ngcana
- Tebogo MoshoaneMoshoane
- James Mazivise
- Mosotho Moshoane
- Peter Chomba
- Themba Ndwene
Project Description (no more than 1,000 words including graphics)
Nyugu Mbeche 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 Mbeche is a peer to peer digital monetary value chain. Nyugu Mbeche empowers the economical disenfranchised masses to participate and grow, their monetary value in an ever evolving technocratic system. Nyugu Mbeche 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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Current competitors offer services like secure online purchases/bill payments/ money transfers/withdrawals/communication/support, however none of them offer all the listed services as our mobile application NyuguMbeche. The application furthermore will allow 3rd party vendors (SMME) to enter the e-commerce and money transfer market.
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- Only South Africans can utilise the system because of required authentication and verification of FICA and RICA systems.
We feel Nyugu Mbeche 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 Mbeche will allow business and clients from low income groups to enter the e-commerce space and participate in the economy
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