“SmartCash for Ladies”
Hello community, my name is Mohammed Mashud Kofi (discord name: @Momako). I am an investor and a crypto advocate, I have worked closely with at @cryptowall on the SmartCash roadshow in Ghana, I have also worked with @shitu on his project on taking SmartCash to 5 Ghanaian universities, partnered with @Cryptosoja on the SmartCash for Senior High Schools project and I have personally organized successful meetups (mmashud61.wixsite.com/website).
My proposal titled “SmartCash for Ladies” has been restructured with the help of Albern Newton (discord name: @cryptonfused). Albern is an enthusiast of the disruptive Blockchain technology and a supportive member of the SmartCash African community. A few ideas and concepts were improved upon to create a more robust ambitious proposal which will be successfully executed by my team and I but not without the help and support of the entire SmartCash community.
The Blockchain technology has given rise to one of the most powerful tools needed for a distributed sharing economy where everyone can work together and add value by sharing, discussing and implementing practical ideas for the growth and development of that economy. SmartCash already has the foundation upon which we can build and help grow a healthy and ever expanding sharing economy from which everyone who is part of that community and economy can benefit. We would like to introduce the idea of creating a sustainable and sharing economy using SmartCash by first addressing the inequality issue which women are plagued with in developing countries. We will also address other issues for the successful adoption and growth of SmartCash in Ghana. Lastly; we will introduce a SmartCash sharing economy model which will use SmartCash as a means of transferring and pooling together capital among the Ghanaian people which will then be used to fund startup businesses in an effort to provide support and create entrepreneurship opportunities for women.
Women are an integral part of our society. They are indispensable in nation building and economic growth. Contrary to outmoded cultural customs and beliefs, women are as equally productive as men and so, no nation can thrive or reach its maximum potential without the full contribution of women in every area where growth and development is concerned. It is therefore not surprising that the world economy has for a long time suffered because of the unequal opportunities for women. Capitalizing on women’s technical and financial capabilities is vital to boost the economic and social growth of a nation.
We would like to kick-start this project by first creating opportunities for women in Ghana by making them part of the SmartCash community and SmartCash sharing economy where they can bring forth small business ideas for sustained economic growth and development which will be reviewed, improved on and then funded. All SmartCash funded businesses will be part of the SmartCash Sharing economy simply by accepting SmartCash as a means of payment which will have an overall network effect of creating organic growth in volume and value of the SmartCash currency.
This project will reiterate the importance of including women in every area of social and economic development and take that extra step in creating opportunities or producing an environment or system to allow empowerment of Ghanaian women but by first introducing them to, and educating them on the importance of digital currencies with the focus only on SmartCash. This project will focus on unearthing small and creative business ideas from young Ghanaian women in order to get them more involved in the economic and social growth of our contemporary society. It is to inform, educate, empower and equip women with better tools for a more prosperous society. The project will continue its focus on empowering at least 1 million Ghanaian women throughout the country over an undetermined period of time (3 to 4 years).
Addressing Women Inequality in Ghana
Sub Saharan Africa of which Ghana forms part, remains one the poorest regions in the world. Poverty in this part of the world keeps increasing at an alarming rate. This has formed part of many international developmental debates. The question that usually arises during these debates is why is sub Saharan Africa the poorest? Many of these debates have raised issues trying to address the situation. One of the key reasons identified by many researchers is inequality. In Ghana, inequality still remains a major challenge and a troubling issue where women are marginalized and denied certain rights and opportunities, despite the international community’s efforts to end this, the phenomenon still prevails. This trend is reflected in every sphere of our economic and social lives, it can be manifested even in our leadership. There are 275 parliamentarians in the country, out of this 35 are women representing 13% of the legislature (source: https://www.parliament.gh/). There are 110 ministers of state in the country with roughly 29 of them being women (presidency.gov.gh/index.php/governance). This statistics is reflected in virtually every other aspect of our economy. This has greatly affected everything we do as a country. Women are unfortunately relegated to the backdrop. To tackle this social issue, our project will see the launch of a women’s empowerment website with intended domain name(s): (smartcashwomen.com/ smartcashladies.com). The website will contain tools and resources including educational and inspirational material for promoting and improving gender equality in Ghana. The website will also contain supporting material on the functionality of SmartCash and a business directory page for promoting women owned businesses in Ghana. All businesses are required to accept SmartCash as a means payment as a pre-requisite for listing.
This project has the potential of dismantling the chains of repression and taking down existing barriers to economic empowerment of women in Ghana while equally increasing the exposure and utility of the SmartCash currency.
Addressing the Difficulty of Purchasing SmartCash in Ghana
One major challenge is the difficulty of purchasing SmartCash using Ghana’s local currency (Ghana Cedi) due to the lack of exchange services which accepts SmartCash. “Where do I get SmartCash to BUY?”, and “Why do I have to first convert my money to dollars before I buy, why can’t I just buy in Ghana Cedi’s” are the most frequently asked questions at meetups.
We will be resolving this barrier by launching a SMART-fiat exchange (SmartExchangeGhana) where people can trade SmartCash directly for the local currency (Ghana Cedi). The creation of this exchange will evidently increase the ease of buying SmartCash and also establish a greater level of trust from nationals since they will be dealing with an exchange (local) based in their country.
A) Generating Interest
The project will move away from the conventional organization of events to a more detailed, vigorous and engaging encounter with women. Discussions will cover gender inequality issues, SmartCash and supporting women’s economic empowerment. There will be very exciting and interesting discussions which will essentially touch on how we plan to use SmartCash as a means of transferring value, pooling together resources and redistributing those resources in order to create entrepreneurship opportunities for women. These important discussions will have the effect of drawing/generating enormous interest from the Ghanaian women and the rest of the Ghanaian population. The discussions will be hosted by the following media houses: TV 3’s (New Day Show) (tv3network.com), Joy FM (myjoyonline.com) in the greater Accra Region, Eastern FM (easterfm.com), in the eastern region and Twin City Radio (twincityradio.com), in the western region. Beforehand, efforts will be made to raise awareness about the chosen dates for the TV interview and radio shows/discussions. The previously mentioned media houses are the most popular and most followed/listened to in the various regions of Ghana ranking best on several platforms. We are therefore expecting to reach an audience of more than 50,000 people/media event. Listeners will be encouraged to call in and ask questions throughout stages of the discussions and lastly will be invited to join our conference and training programs.
B) Training/Boot Camp
The training program will be open to women of various professions (Female Directors, Female CEO’s, Female Bankers/Accountants, Female Teachers, Female Traders, Female University students, etc.…) with the aim of giving all women the opportunity not only to learn about SmartCash but to contribute their talents, skills and innovative ideas plausible to their economy that’s SmartCash community in Ghana. Participants of the training program will be taught how to set up SmartCash wallets. Also, new ideas which can help promote the currency will be discussed throughout our training program. The training will include a comprehensive and brief training on SmartCash, business management and other relevant educational materials necessary for sustainable development and use of SmartCash in Ghanaian businesses. This is in an effort to help build a robust team of women who will be motivated to help grow the SmartCash community and help add value to the SmartCash currency. Training will start in the greater Accra region which is the capital of the country, the western region, the central region and will thereafter cover the smaller remaining parts of the country.
C) Launch of the SMART Foundation for Women
Providing support and investing in women’s entrepreneurship is critical to achieving economic growth and sustainable development. More importantly; so is the case in decentralized economy models like SmartCash where full participation and contribution of all groups are necessary for expansion and growth of the digital currency. We will therefore be launching a SMART Foundation which will consist of a trust fund (SmartFund) to be managed by women with qualifications in the field of economics, accounting and business management but overseen by other members of the SmartCash community in Ghana for proper surveillance and for accurate auditing, accountability and transparent reporting.
The SmartFund account requires a total of 5 million SMART to be released from the SmartCash treasury fund. The Ghanaian population will be motivated and encouraged to support the women’s funded businesses by purchasing 90% of the total amount of SmartCash in the SmartFund (4.5 million SMART). The 4.5 million SmartCash will be sold in phases (See Timeline for more details) at a predetermined value (1 SMART: 1 Ghanaian Cedi). The SmartCash sold will act as proof of investment support in the women’s entrepreneurship initiatives. From the total fiat received (local Ghanaian currency), 4 million will be used to fund small feasible businesses proposed by the women trained during our training program. All businesses will be required to transact with SmartCash but not restricted from local fiat transactions. They will also be required to promote SmartCash to their customers and also encourage customers to receive fiat balance due to them in SmartCash. Businesses will be incentivized to give special discounts to customers who purchase goods/services with fiat and are willing to accept their balance in SmartCash.
The SmartFund will hold the remaining 0.5 million local currency and 0.5 million SMART for liquidity. If there is a shortage of the local currency needed to obtain resources for customary running of the businesses, the businesses can exchange SmartCash received from customers for their local currency (small 0.5% fee will be charged). They can also buy SmartCash directly from the SmartFund (0.5% fee will be charged). The SmartFund backed businesses will be charged a monthly % fee when they have started generating profits. The SmartCash exchange will also charge a small fee which will be used to sustain the business as well as to accumulate profit to the SmartFund. The surplus of fiat generated from fees will be computed and the value of SmartCash will rise accordingly. In this way, the SmartFund investors/supporters will get a return in value on their investment due to the rise in value of SmartCash which they can exchange for fiat or use to purchase goods from any merchant or businesses accepting SMART or use according (they are not restricted in use but are incentive to hold). This in effect will create a sustainable economy where everyone can participate in and benefit from what we would like to call a sharing economy model by using SmartCash as the medium of transfer and pooling together of value, in a way acting as a bridge but then being integrated into the businesses to act as a normal currency. This will have the overall effect of creating sustainable growth, organic volume and increased stability in value of the SmartCash currency which is well needed for wide scale or worldwide adoption.
Find below a schema of the Sustainable Economic Model explained above for a visual understanding of how this will function.
In the below model, SmartCash released from the SmartCash Community Fund (SMCF) to the SmartFund (SMF) which also acts partly as an exchange but exclusively for and with special/favorable terms and conditions for SMART Funded businesses owned by women. The allocated amount of SmartCash distributed to Smart Investor & Supporters (SMIS) of the women’s entrepreneurship empowerment initiative utilizing the local Exchange (SMEG). The capital obtained is then used to fund businesses or SMART Funded Businesses (SMFB). Customers purchase resources/goods/services (brown arrow) from the businesses using SMART (red arrow) and fiat (green arrow). The customers also have the option of receiving the amount owed to them in SmartCash when purchased with local Ghanaian currency. The SmartFund backed businesses can trade in SmartCash for local fiat currency which they may need to purchase resources/goods from reliable suppliers (WS).
Model of a Sustainable Economy for SMART Funded Businesses
Summary: During the initial funding stages, SmartCash is used as a means of pooling together local fiat currency by the Ghanaian population to help create more opportunities for women. The value of SmartCash here is essentially backed by the businesses which are funded using the local Ghanaian currency and finally by ensuring the integration of SmartCash into the various businesses we can generate sustainable growth and utility in value of the SmartCash currency.
The whole project will be preceded by the establishment of the SMARTfund and the registration of the foundation, with works commencing on the website and local smart-fiat exchange about that time be launched. A nationwide intensive training program/boot camp will be organized to train and empower women. Deserving women with feasible business ideas will then be selected through a rigorous process to benefit from the SMARTfund.
Media Engagement and Training
15 minutes TV discussion on TV3’s new day in Accra.
20 minutes Radio presentation on SmartCash in the first 3 regions.
The breakdown of the Media interaction is as follows:
a. 10 minutes discussion on women inequality and importance of women empowerment
b. 10 minutes discussion and presentation on SmartCash and invitation to our training program
Vigorous boot camp on SmartCash for two days in a chosen venue in the first 3 regions.
The training program/Boot camp will cover 3 regions (Greater Accra region: Accra, Western Region: Takoradi and Eastern region: Koforidua) of 2 days on a per month basis. The breakdown of Boot camp/ training is as follows:
a. The need for women leadership and the need for more women to actively uptake important roles in society
b. Creating opportunities for economic empowerment and self-employment initiatives for young women
c. Presentation on the Blockchain technology and cryptocurrencies (brief)
d. Presentation on SmartCash.
Break down of presentation:
How to download and manage SmartCash wallets.
Key features of SmartCash i.e. smart forums, smart rewards, smart voting, smart nodes etc.
Advantages of using SmartCash for daily transactions like online purchasing, paying for services, receiving remittances and many more.
How to startup, manage and sustain and advantages to using SmartCash into the as means of payment (taught about available and upcoming merchant tools like smartcards)
Discussion on how we plan to use SmartCash as a medium to create opportunities for women and encouragement of new ideas and team building
50 SMART will be given to the first set of participants who will be expected to demonstrate a practical understanding of the practical training by sending the tokens to each other. This will give a touch of the actual process and help demonstrate the speed, convenience and low cost of transacting with SmartCash.
Time Line/ Milestones
“SmartCash for Ladies” proposal Time Line/ Milestones
Approximate Dates Activities
Week1/month1 • Registration and Establishment of SMART Foundation for Women Empowerment
• Beginning of works on “SmartCash for Ladies” women empowerment website, and SMART-Fiat Local Exchange
Week 2/month1 • Discussion on Gender Inequality, Women Empowerment & SmartCash
Week 3/month1 • Boot Camp/Training Program (duration of 2 days)
Week 4/month1 • Completion and launch of Women Empowerment website
• Release of Report, Pictures and Videos
Week 1/month 2 • Aired Advertisement prior to Talk Show & TV Interview
Week 2/month 2 • Discussion on Gender Inequality, Women Empowerment & SmartCash
Week 3/month 2 • Boot Camp/Training Program (duration of 2 days)
Week 4/month 2 • Release of Report, Pictures and Videos
Week 1/month 3 • Aired Advertisement prior to Talk Show & TV Interview
Week 2/month 3 • Discussion on Gender Inequality, Women Empowerment & SmartCash
Week 3/month 3 • Boot Camp/Training Program ( duration of 2 days)
Week 4/month 3 • Release of progressive report, pictures and videos
• Formation of Management team for SmartCash Women Foundation in Ghana, SmartCash Exchange & SmartCash Backed Businesses for Women
Month 4 • Assortment and review of submitted business proposals and selection of the first 25 most feasible business proposals.
Week 1/month 5
• Completion and launch of SMART-Fiat Local Exchange
Week 3/month 5 • Release of 2 million SMART be distributed to the Ghanaian population in exchange for Ghanaian Cedi needed to fund the first 25 businesses and to provide SMART-Fiat liquidity for businesses.
Month 6 • Funding and Support for establishment of the 25 proposed businesses
Month 7 • SmartFund audit report, progress of business report
Month 8 • Assortment and review of submitted business proposals and selection of the next 25 most feasible business proposals.
Month 9 • Release of 1 million SMART to be distributed to the Ghanaian population in exchange for Ghanaian Cedi needed to fund the first 25 businesses.
Month 10 • Funding and Support for establishment of proposed businesses
Month 11 • SmartFund audit report, progress of business report
Month12 • Assortment and review of submitted business proposals and selection of the next 25 most feasible business proposals.
Month 13 • Release of 1 million SMART to be distributed to the Ghanaian population in exchange for Ghanaian Cedi needed to fund the first 25 businesses.
Month 14 • Funding and Support for establishment of proposed businesses
Month 15 • SmartFund audit report, progress of business report
Month 16 • Assortment and review of submitted business proposals and selection of the next 25 most feasible business proposals.
Month 17 • Release of 1 million SMART to be distributed to the Ghanaian population in exchange for Ghanaian Cedi needed to fund these 25 businesses.
Month 18 • Funding and Support for establishment of proposed businesses
Month 19 • SmartFund audit report, progress of business report (continuous monthly report thereafter)
Smart Foundation, Empowerment Website & Local Exchange Development
• Registration of the Smart Foundation for women - $500.00
• Design, development & 6 months maintenance of empowerment website - $850.00
• Design, development & 1.6 months maintenance of Local Exchange -$14400.00
Training and Media Engagement
• Transportation cost to and within the 3 regions for 3 months - $3000.00
• Accommodation and feeding for 3 regions - $2000.00
• Light Refreshments for participants - $600.00
• Aired Advertisement (total duration of 3 weeks-1 week per month) - $490.00
• Acquisition of 3 venues for Training Program/Boot Camp - $1500.00
• Media engagements with 3 radio stations and 1 TV station - $1940.00
• Tokens for participants (5000 SMART) - $700.00
• Printing of SmartCash branded T-shirts “SmartCash for Women Empowerment” - $1500.00
• Banners, Stickers, Flyers & publications - $ 500.00
• Communication cost for liaising with IT team and organizing of training program - $200.00
• Camera for pictures and videos of workshop, video editing and design - $450.00
• Contingency (~ 5,8%) - $1670.00
Funding and Support for women owned SMART Businesses
• 5 million SMART (Undefined)
• Videos, pictures of the training program will be presented to the SmartCash community and circulated on various social media platforms.
• Comprehensive, detailed and transparent reports will be sent monthly to the SmartCash community, hive team and administrator of the SmartCash Community Fund.
• Each region will establish a sub foundation and submit and execute an action plan for their respective duties.
• Team members must be self-motivated, are selected on merit bases and level of competence of fulfilling required tasks for successful running of the project.
• The regions targeted predominantly, were selected based on size and female population.
• 5 million SmartCash which is needed to pool together capital necessary to fund and support the businesses, will initially acts a means of exchange and will retain the value at which it was exchanged for local Ghanaian currency until all businesses are up and running. This supply of SmartCash will not affect its’ value on cryptocurrency trading platforms since it will directly be exchanged for the local Ghanaian currency. For this reasons we are treating the SmartCash in the SmartFund wallet/account as having no value up until the point of exchange. The capital accrued will represent the value of the gross amount of SmartCash send to the SmartFund from the SmartCash Community Fund. To recap, what we are doing here is using SmartCash to accumulate capital in fiat currency, and redistribute that value effectively by creating businesses which are essentially avenues for sustainable growth and organic volume of the SmartCash currency itself.
• All SmartCash backed businesses will be required to accept SmartCash as a means of payment and also to promote the use of the currency to their customers.
• We will continue to work persistently to ensure that other regions are covered which is our long term plan
Benefits to the SmartCash Community
• All women who attend the programs will attain a solid understanding of the functionality, utility and immense potential of the SmartCash currency.
• This project will essentially expand the SmartCash community to be more inclusive of women
• All businesses enlisted on the SmartCash directory page will be transacting in SmartCash which will help increase awareness of venues available to spend SmartCash in Ghana
• We are literally creating avenues for SmartCash utility and adoption by sponsoring SmartCash backed Businesses which will have SmartCash integrated as a means of payment. This will encourage customers to use SmartCash and also ease the way for other merchants to adopt the currency.
• Women who will benefit from the SMARTFund will find importance in and the need to keep some of their profits from their businesses in SmartCash. This will encourage long term holding of SmartCash which will definitely have a positive impact on the market.
• The project, after completion, will help build a solid economic foundation which will encourage long term growth of the SmartCash currency.
• The local smart-fiat exchange platform will foster the building of trust, comfort (being local) and accessibility thus speeding up adoption of the currency.
• The women’s empowerment website will essentially be listed on gender equality and women empowerment based international organizations and will as a result direct more positive exposure towards the SmartCash currency and further ease the way for worldwide adoption.
• The project will create a new wave of interest in the utility and potential of SmartCash as we are literally using the currency as means of redistributing and creating value in order to solve the gender inequality issue by creating entrepreneurship/economic empowerment opportunities for women.
The main objective of this project is to help expand the SmartCash economy by creating multiple small local SmartCash backed businesses with the effect of adding an extra layer of strength and stability to overall value of the SmartCash currency, generating organic volume by increasing utility but first by using SmartCash a means of creating opportunities for women in order to address gender inequality by directly providing entrepreneurship support and making them part of the SmartCash community where there skills and talent can be further utilized through inclusive participation. This will have a global effect of drawing massive media attention and making SmartCash the most talked about cryptocurrency in Ghana, the African continent and the rest of the world. Even more importantly the success of this project will showcase to the Ghanaian people and the rest of the world the immense positive change which cryptocurrencies can bring and further ease the way for massive adoption of the SmartCash currency. We are very much capable and full competent in executing this project successfully and would like this project to be expanded to other African countries in the future where gender equality is still a major concern.