Micro Loans - a different kind of proposal


#1

Problem statement

I truly believe that as a community and as an internet collective we can do more, help others and benefit as well. We may not have an Etherum Foundation in our back pocket, nonetheless we can still do some good.

I would like to introduce you to Kiva .
Kiva is an international nonprofit, with a mission to connect people through lending to alleviate poverty. They celebrate and support people looking to create a better future for themselves, their families and their communities.
By lending as little as $25 on Kiva, anyone can help a borrower start or grow a business, go to school, access clean energy or realize their potential. For some, it’s a matter of survival, for others it’s the fuel for a life-long ambition.

Kiva connects lenders (like you and I, or BTCz community) to lend as little as $25 to people in the poorest countries.

It is not a donation, it is a loan. Loans get repaid.

You can loan money to farmers to buy more livestock, or help people start businesses. Kiva believes lending alongside thousands of others is one of the most powerful and sustainable ways to create economic and social good.

Mission Statement or Vision

I would like us, as a community, gather some funds and start lending via Kiva. Those funds will get repaid and we can lend them out again and again to help many people in underdeveloped countries thrive without handouts.

Objectives to be achieved

  1. Help as many people as possible to thrive
  2. Spread BTCz awareness by publicizing the above (press release etc)
  3. Build enough steady momentum with Kiva (via regular steady lending) to be able to integrate BTCz into the site and their lending model further driving our adoption.

Preferred approach

I have reached out to Kiva founders already however i think we should start collecting some donations to start the lending process as soon as possible.
Why not do some good while we wait! :slight_smile:

Benefits statement

We will be helping people realize their dreams and fulfill their potential - the country of birth should never hold you back.
We will spread the positive message about BTCz community - we are not all Lambos and Moons!

Performance and progress measures

I am happy to oversee the Kiva account and report to the community via the forum on regular basis.

Risks and ways to address them

I foresee two risks:

  1. Kiva may not initially want to accept our loans in crypto so i will have to convert to USD until a long term solution can be put in place (i am an accountant by trade so I will provide you with all the FX conversion reports)
  2. BTCz price fluctuation may pose a risk

A basic plan of work (timeline and key milestones)

As mentioned above, i already reached out to the Founders, nonetheless i would like to start gathering donations asap, give it a good 2 weeks collection run and then start lending.
Liaise with Marketing team to get some press releases going and create general buzz in the community.

Cost estimates and funding sources

I will donate BTCz to fund the first lending round and i hope that the community will follow.

Opposing arguments and responses

You may have some questions or concerns and while i can’t think of any right now, please post below, find me on Discord/Slack and just ask point blank.

Suggestions are very welcome too!

  • Yes
  • No

0 voters


#2

A good proposal well thought off. Tackling real issues in the world. Charity is good for BtcZ to enter into


#3

As the owner of the Charity, I must say Yes!


#4

Thanks for your proposal! More people have started to create formal proposals :slight_smile: happy to see this. I’m all for social responsibility and yes it has an added benefit of exposure.

My thoughts on the proposal:

  1. Obviously it would be interesting, so we should try hard and get a conversation going with the founders and maybe even schedule a voice meeting with them. A long shot for ‘founders’ but we should try - that way they can notice our motto to change the world for the better, similar to them. Of course also speak to them about maybe accepting BTCZ on our first few runs. We should express that we at least want the opportunity to try it out, maybe a few rounds or lend 5 times and see how it works out.

    If that doesn’t make it very far initially, we should then gather and convert as you suggested, maybe enough for 2-3 rounds and see how it goes. Either way you should add maybe 3 rounds to be funded and if vote passes we can fund this from community fund maybe after 2 rounds, one from you and I’ll donate for second round.


  1. I would suggest we find a way to tie it back to us by the borrower like “This Project Powered By BitcoinZ” or something to that effect. Plainly, for the exposure affect. That might come naturally form our side cause the community will publicize it - but it will be good to have.

  1. Should we have ‘target borrowers’? Like maybe those asking for funding in a certain industry - afterall we are pretty much a ‘tech company’ of sorts. Maybe not necessarily related to blockchain, but tech style so then MAYBE we can go directly to this company and they can accept BTCZ themselves. Direct marketing to a borrower maybe might be written about by Kiva agreements, but we might check first. This would really allow us to use the platform for two things 1) Social responsibility 2) payment acceptance adoption

I will donate a round two - I would love to see this work - and if vote passes then maybe we can pull from community fund? Not sure maybe you’ll need to edit that. Just a suggestion.


#5

Thanks Cryptorex,

  1. Yes, it might be difficult to get Kiva to accept BTCZ to start with, hence i would like to get the momentum going, be visible and then approach to have a more in depth integration.

  2. I can enquire about this - will let you know what i manage to agree

  3. We can most certainly choose the category in which we would like to lend:

I will update the proposal with a donation address shortly. Getting the logistics right! :smiley:

Thank you everyone who voted - means a lot!


#6

I love it! I don’t see them being interested in doing too much with us until we gather enough funds that they see us as major lenders. They may surprise us with interest however, if they see value in blockchain and a community of tens of thousands.

It’s a very good thing that you’re an accountant because having to convert to fiat and keep track of the value over time is going to be very important. :slight_smile:

A couple of questions/suggestions:

  • Who will manage the account? If you, then I’d request you stay in touch with @cryptorex and ensure we have the credentials in the community “vault” in case we need to access it and you’re unavailable.
  • I would suggest setting up a timeline for each wave – 1 week for gathering donations per wave or something of the sort. Maybe keep it going week to week if it goes well.
  • Are you seeking community funds for this also, or do you plan to raise funds through this proposal only? If you’d like to get some initial funding from the community, how much?

Keep up the awesome work, thanks for doing this!


#7

Hi equipool,

Thanks for taking the time to read and post.

  1. I will definitely make sure @cryptorex has all the credentials in the vault
  2. To be honest I was thinking more along the lines of hitting a funds target at which point we will lend it out. That ensures we loan out a good amount each time rather than fluctuate with the lending amounts for the sake of processing them weekly/bi weekly etc. I will be posting collection targets and update the community on how it progresses.
  3. Tbh I planned to raise the funds via this proposal but since it has been up I received a lot of positive feedback plus @FollowWings has pledged some of the funds he collected via the charitable proposal he put together and some folks pledged a day/week or BTCZ mining! So all in all if community is happy to assign some funds it would be great, maybe some time down the line once we have some rhythm to the whole operation.

Thanks again!


#8

For sure I offered the left above 30k BtcZ which was my main goal on first mission at charity project, so an amount of 21k BtcZ able to land over to your project, if community agrees!
I would like to see your first mission aswell!
Keep it up Apelan!
We are with you. Feel free to ask for help!


#9

Hello everyone!
I think it’s a good initiative! It is a good utility for BTCZ helping other people.
My only doubt is that according to the translator … they are not donations … would they be pre-payments and if so how would that money be returned?
what money will I recover? What is Estimated Rate?


#10

Hello everyone!
I think it’s a good initiative! It is a good utility for BTCZ helping other people.
My only doubt is that according to the translator … they are not donations … would they be pre-payments and if so how would that money be returned?
what money will I recover? What is Estimated Rate?


#11

hi @netsps

You are correct, they are not donations but mini loans. For more info please refer to the Kiva FAQs via the quote below:

> Kiva and Kiva lenders do not receive interest on Kiva loans

For direct loans, Kiva borrowers use PayPal to transmit repayments and Kiva deposits repaid funds into your individual Kiva lender account.
This is where I think BTCZ can make a whole world of difference - let’s face it, BTCZ is much better than PayPal!

The loaned money is returned to the BTCZ Community loan account and we can lend it out again and again.

Hope this helps!

Many thanks

A


#12

Its super, but will our returned money be higher?


#13

no, unfortunately not - this is where the charity aspect comes in - we are lending it for free.


#14

This is a great idea, I love it. I’ve recommended Kiva to many of my colleagues and have considered even using it myself.


#15

Thank you everyone who donated so far!


#16

Lets vote on to support this project by transfering some fund from S.R. Charity or not!

https://www.strawpoll.me/15775621/


#17

Vote Won! 20K is in Transfer to your Micro Loan Project!


#18

Any news Bro? We are excited to see first loan project! :slight_smile:


#19

Hi @FollowWings thank you for the follow up.

I am excited to share that we are ready to start lending via Kiva.

The total BTCZ donated as part of the initiative was just over $50.00 I also donated by making it up to $100 on conversion to Fiat and made the $100 top up to Kiva so we can start lending.

The conversion and any subsequent ones will be accounted for in this sheet:

I would like to hear from the community with regards to what type of projects we should lend to. Maybe a straw poll?

Thank you again to all who donated to this great initiative!


#20

Good to see Bro!
Awsome job!
Well I think we Could roll.
How about a vote poll on all choice?
https://www.strawpoll.me