19 123 BTC
483 209 ETH
208 694 569 USD

Mazzuma

Cryptocurrency for global remittances

Business, Software

While the emergence of cryptocurrencies has led to many exciting possibilities in the payment landscape, it still faces a challenge of mass adaptation. In response to the inability for existing blockchain platforms to push for mainstream cryptocurrency adoption. Mazzuma has created a mobile application, with a simple and easy to interface that has been designed and tested to handle millions of transactions per second, speedily and securely.

Purpose of Investments

Mazzuma is committed to enhancing the payment landscape in Africa to include the unbanked. Our mission is to utilize mobile-money and blockchain technology to address the limitations of the banking and remittance industry. Mazzuma, therefore, expanded its ecosystem through the creation of its in-house payment token called MAZ Token. The token addresses pain points like high transaction fees, inferior proofs of identity and transmission limits. Transactions made on our app are instant with a simple user interface which enhances the usability of cryptocurrencies by addressing issues of user experience and slow transaction confirmation times.

Today, there are over two billion people who do not have bank accounts or access to other financial services, mostly in developing nations. Individuals who face financial exclusion face several challenges, including theft of cash and the inability to access formal employment due to lack of a bank account. Those without bank accounts also incur additional fees when cashing cheques that can often be up to 10% compared to someone who has a bank account. Mobile money has significantly impacted the efforts to extend access to the unbanked and financially excluded. Currently, there are close to 700 million active mobile money users across the world, with the highest growth coming from Kenya, Ghana and nations in South-East Asia. With more people having mobile phones than a bank account in the global south, mobile money has become a viable solution in tackling financial exclusion.


The Mazzuma token can be used in the following ways:

1. International remittance transfers
2. Peer-to-peer payments

Finance Plan

The proceeds of the IEO will be used to expand the infrastructure and network of the Mazzuma ecosystem. By enrolling more merchants, partners and service providers, this strategy will enable the user base of the platform to grow exponentially.

The list below enumerates the allocation of funds for the project:

Marketing and PR - 25%

Merchant Acquisition - 20%

Further Network Expansion - 15%

Research and Development - 40%

Management

We are a dedicated team with over 10 years combined experience in creating world class payment systems for underserved markets in the emerging world.

We have a team of software engineers and project managers who have built Mazzuma to become one of the fastest growing fintechs in Africa with millions of dollars processed in transaction volume.  Our dedicated team will be supervising the execution of the Mazzuma Token and its expansion to various territories and markets.

Market and Competitors

Our main competitive advantage is our proposition of cost-free transactions. This greatly drives the patronage of our services in our local payment ecosystem. Currently, other competitors charge between 0.5% to 7% on each transaction made. As a result, we are an attractive alternative in the mobile payment space. In addition to this, our multi-channel approach to delivering our services to our customers through our AI-enabled automated chatbots on Facebook Messenger and Telegram, our companion keyboard which allows users to send payments in apps like WhatsApp and our world-class mobile app makes a unique choice for payments in our market. Unlike other cryptocurrencies, ours is much simpler to use due to a more intuitive user interface. Also, users can make transactions using their simple usernames, as compared to the conventional complicated wallet addresses found in cryptocurrencies like Bitcoin and Ethereum.

Risks

An internal risk our company could face is cyber attacks. In occasion of such threats, we manage it by using mitigation measures such as proxy forwarding, firewall implementation, distributed systems architecture and data sanitization including others. Another risk we can encounter is the risk of data manipulation by bad actors. We mitigate this through the use of a blockchain to store both mobile money and cryptocurrency transactions making them immutable. For external risks, government or regulatory policies and general economic factors affect our business. We do our best to incorporate contingency plans in our business models to enable the business to thrive in the ever-change world of commerce

Completion

After the IEO has been completed and the Mazzuma Token has been listed, the remittance partners will start sending payments globally using the Mazzuma Token. This will drive the growth of the ecosystem and bring positive returns to early token investors.

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