Smartcash for women


As others have mentioned, by and large, men are generally more interested in cryptocurrencies than women. I don’t believe targeting women specifically is a great strategy for adoption.

First off; appologies for the late response…

If men are generally more interested, we would need to find out why women are not and I dont think it’s because they are women. There isn’t much difference between men and women. The idea is to get non users to adopt a new currency for daily activities just as fiat and fiat is used equally both women and men use fiat. If less women use cryptocurrencies; just like a small population of the world uses cryptocurrencies, this is a huge potential market to tap into.

But aside from the discrimination debate, I’m more interested in the economics of your proposal.

Let’s move on, shall we…:slightly_smiling_face:

Do you have any sort of information regarding how much SMART is currently being purchased from Ghana?

Yes, there are a few bitcoin exchanges, localbitcoins, lunoexchange etc. People and merchants would have to have to purchase Bitcoins/Ethereum etc with local fiat/usd and then use that to purchase SmartCash. If they go through all this (create a BTC/cryptowallet other than SmartCash, go through kyc etc, pay additional fees on two exchanges
) to obtain SmartCash; it is better they just use BTC/Ethereum for business as it is more convient(less steps and fees).

My concern is, what kind of return will SmartCash be getting for its (significant) investment?

Yes, it is an important amount investment but not as huge as people see it to be. Considering the population of Ghana which is 28 million, if 0,5 million people own 10 SMART each, that is just equivalent to 1,78% of the population.

SmartCash is also a very young currency, with increasing utility but still insignificant compared to fiat. The concept here is that SmartCash will initially act as an intermediary. The SmartCash essentially goes into the hands of new investors & supporters of the businesses. They are motivated to exchange the value of their fiat (which has much more utility and liquidity) for SmartCash; in order to support the women owned businesses so these people are expected to be more confident because they know precisely how their investment will be used and motivated because we are addressing a social issue (very much apparent to the people of Ghana) by creating opportunities for women economic empowerment. It is the fiat which initially holds value which is transfered to the businesses. The value is returned to the investors which we can consider new members of the SmartCash community and so, SmartCash. This creates an environment for growth of the currency itself through utility. (the value of the currency should increase with utility). So here, we have essentially created users and avenues for utility. It is the same as spending money on merchant adoption campaigns, except this is more effective in creating sustainable growth of the currency.

This is an enormous proposal, likely the largest ever conceived that I’m aware of.

Yes, it is. Took 1 month of development and planning. Quite exhausting on my part.

I’d just want some more details concerning what the Ghana market for SMART is like now, and what it’s likely to be after this project.

I hope Momako have answered this, he would be the one better able to give you the statistics. The market is expected to see healthy and stable growth after this project. The gender equality issue which we are addressing will also be a good catalyst especially in countries like Ghana where gender equality is very much alive due to strong cultural traditions. Women will be very much be appreciative of this iniative and we will gain recognition from local and international women empowerment organisations.

Additionally, for me personally, I don’t believe SmartCash should be involving itself directly in exchanges.

I respect and understand your view but it isn’t much different from an independent exchange. Price feed will come from recognized sources and it will not be in the benefit of SmartCash to manpulate or act maliciously.

Who is going to be managing the exchange and auditing the finances?

This will done by a team of future SmartCash community members. We will select the team after the training program/boot camp. They could be a Ghanaian extention of the hive team. Trusted existing members of the SmartCash Ghana community will act as watch dogs. Account access will be given to the hive team. I was thinking of the SmartFund being multi-sig if possible. A smartcash ambassador and member of the hive team would have to sign approval for processing of funds.

Will it be exclusively SmartCash or other cryptos as well?

Exclusively SmartCash, otherwise this would be quite costly. But even so we never intended to have other cryptocurrencies or add any in the future as we are only focused on the growth of the SmartCash currency in respect to fiat which is most liquid and direct trading of resources itself which is the main goal.

Will profits be returned to SmartCash or if not, what is the plan for distribution of the profits from the proposed 0.5% fee?

0,5% fees from the exchange would be needed to maintain exchange itself and to provide incentive for the people running it. The fees from the SmartFund will be needed to pay the management team as it can not be done voluntarily, this may likely be a full time job. “smartcash for women empowerment” website. [We expect to grow this website and form partnerships with local and international women empowerment and gender inequality organisations.]

An an additional question ; “what if there is a net profit afterwards?”

We can return it to the SmartCash investors in this way: By increasing the value of the SmartCash in the SmartFund to represent the increase in profit but this can have dire consequences or by just reducing the fees or by requesting that businesses give special discounts to the investors.

Who keeps the 5 million after it has been exchanged for local Cedi currency?

If you are asking who keeps the Cedi currency. It is kept by the management team which we wanted to be an extension of the hive team. Access will be given to other members of the hive team. Finance auditting reports will be sent and shared. This is done in phases. 5 Million SMART is not released at once. Except for the first phases, only 1 million Smart is released/25 businesses. Previous phase has to be done successfully for more funds to be released. This is why this is done/4 months.

Will you be acquiring more SMART with the Cedi? How would you do this and why can’t locals use that same method?

The cedis are used to fund the businesses. SmartCash is a currency, a means of exchange and not a resource, its value is expected to increase with utility. We will not acquire more SMART with cedis.

These liabilities introduce too many what-ifs for me, and I believe exchanges should be generally left to the free market. If individuals are interested in acquiring SmartCash, there are more than a few exchanges already available to do so.

If people have to go purchase bitcoins/other cryptos to then purchase SmartCash it is better they just stick with fiat and use a bank card. (Fees will comparatively the same or less)

I also feel like your proposal lacks direction. It’s trying to do too many things, from supporting women and getting them involved in crypto, to a business incubator, to a crypto exchange. Projects that lack direction tend to be unsuccessful.

It doesn’t, everything complements the other, what it is, is more complex but not difficult to run or execute. There is clear planned steps and adequate timeline to do this.

Ultimately, how are we to measure the success of this proposal?

Continuous monthly reports: businesses, finance, customer surveys: we expect the businesses to create more smart users my promoting smartcash to them and offering them to receive their balance in smarts.

For me, I’d prefer if you broke them up into individual and more directed proposals, as part of a larger push for adoption in Ghana.

The proposal is already broken down into phases/steps with an adequate timeline. Separating it would not make much difference but we are looking into eliminating a few things.

Because the proposal, with my input, was developped into a bit of a bigger project than it was before, I will consider removing the business incubator entirely but this will reduce sinificantly, the potential benefit to the community and the currency. We can go ahead and seek funding without involving SmartCash. In this way funds will be given without the use of SmartCash as an intermediary and SmartCash will no longer be distributed to a greater number of the Ghanaian population resulting in less utility. We also will not beable to talk about SmartCash as a means of creating opportunities but rather just only talk about issues rather than attempting to solve them. The impact will not be as great and neither will women empowerment organisations take us seriously. We will be doing nothing special except just say we support women empowerment.

A big thank you for your questions and reasonable concerns. I’ll be willing to discuss with you more if you have any more questions.

Also see my respone to slpin, interesting stuff.



I appreciate your response.

Your proposal is just taking advantage of the voters… In all respect it is laid out…

If you are so sure it is great - and with the amount that you are asking, do it “pro-bono” for a while… put your words where your mouth is - and you certainly have alot of words…

Prove me wrong without the community needing to fund it and pay for your “trial-an-error”…



After much been said!
the proposal carries a lot of potential,the fact that it is centered on women to me should not be a bone of contention rather a welcome idea.women have always been a center of attraction when it comes to trading of goods and services which I think explains why @momako chose to carryout this proposal since it is geared towards utility for Smartcash. As for the much debated upon exchange issue I’ve also always had issues on having to exchange Smartcash for bitcoin and then fiat so I think he deserves a benefit of doubt as regards the funds attached to it there is room for amendment since fortunate enough it is a preproposal.I like it that the house are putting hands together to see that proposal benefit the community as a whole but I’d like to add and beg that we do it with an unbiased mind and without fear or favour.


@slpin thank you very much for your responds, we are currently working round the clock to see how we can still solve the challenge on women inclusion in the smartcash ecosystem. @anonymous56 thank you too for seeing the high relevance and impact of this project on the smartcash community, together we can work for the best interest of smartcash. cheers.


I am shocked that there seems to be a problem understanding to need to get smartcash to women. Let me start by telling you all to take off your western views, and approach this from the point of view from women in African which make a huge percentage of those who run the homes and make everyday buying decision. In the past I have see Charities and Government initiatives targeted at women in African really take off - by this I mean self sustaining. The bottom line is this if smartcash wants to get to the grassroots, in Africa this means women. I speak as a woman from Africa who has lived and schooled there and now live in the West. You will not be able to comprehend this need by comparing it to the values or standards you have in the West.
Fact: If smartcash does not take advantage of this some other coins will. I would personally be very disappointed that we didn’t


Nitego, while there is a need, the issue I see that has not yet been addressed is that there are three distinct projects being proposed here.

They should be undertaken separately. Only one of those three is possible for funding by SmartCash.

The rest can be undertaken by private investors or entrepreneurs.

SmartCash cannot be all things to everyone. Some challenges must be met independent from the SmartHive Project Treasury.

A need for something is not sufficient justification for funding. Funding requires clear goals, actionable steps, accountability, and compliance with the SmartHIve Project Treasury governance rules set forth.


@Momako, do u have plans in teaching them how to do transaction technologically. .because for what I know Ghanaian women who are much into trading are not much familiar with crypto currency. So how are u going to do that…


Nitego, while there is a need, the issue I see that has not yet been addressed is that there are three distinct projects being proposed here.

Mark we are awaiting more dialogue. We have addressed a few important concerns and are awaiting responses. Momako is always ready to make necessary adjustments to the proposal thereafter.

We have received a few responses, most of which are just personal opinions and attacks. Very unprofessional.


@nitego thank you very much for your responds and for seeing the need for this all important project, i really appreciate, we are always ready and willing to make adjustments for the betterment of the proposal and for the overall benefit of the smartcash community. cheers


@mark-smartcash i appreciate the fact that you see the need for this project, but the question about this project addressing three distinct problems should be an advantage to the community and to smartcash, three problems with clear cut solutions in one major project. if you read @Cryptonfused responds to columbiaminer, you will see that he explicitly made it clear that the three distinct features of the proposal is interlinked, breaking it into three different proposals will mean doing the same thing in different ways. we have clearly outlined the phases of implementation in the milestone section of the proposal, meaning we will be doing each activity after successive activities, which has been clearly outlined in the proposal, breaking it into three will mean doing the same thing but in different ways. we can decide to go with the approach you are talking about, focusing this proposal on women inclusion, then later we come out with a different proposal to talk about ease of acquiring smartcash and finally to the last, its doing the same thing in different ways, why don’t we do it once in one project? Don’t forget we are always opened to suggestions on making the project a better and more robust one. thank you, cheers


@yankdiary i appreciate your responds and your question, now what we intend doing is teaching women on digital currencies with focus only on smartcash, the ease of transaction and the least cost involved in transaction, when we were coming out with the project it was one of the issues we thought about, and @Cryptonfused even mentioned the emergence of new smartcash technologies (SmartCard), on the smartcash discord platform i read @mark-smartcash talking about the release of the Smartcard somewhere in July if i am not wrong, now the card is coming out at a time its highly needed, this project will kick-start at a time transactions on smartcash will become very easier, women will definitely be taken through the technological processes involved in transacting in smarts. suffice me to say that Mobile money in Ghana is a technological tool, a bit virtual but women still use it to make transactions. we will be training them on how smartcash operate and equip them with the tools necessary for ease of transaction, especially the smartcard which has been mentioned in the proposal. thank you. cheers


Ayd … that’s nice @Momako


thank you very much @yankdiary, hope to get your support to take smartcash to this all important group of our society, we are always opened to suggestions and comments, together we can take smartcash to where it deserves. cheers


@Momako can I get an invite link to join the smartcash discord???


Including anything in the proposal that is against the SmartHive Project Treasury terms will invalidate the entire proposal.

These are rules set forth by the SmartHIve, including "Attention!

  1. Proposal Funds can not be transferred back to the community as a kickback, rebate, or donation nor can they be used to fund third parties. Proposals that have this objectives will be removed. "

Examples of these are not specifically mentioned are: treasuries, funding additional proposals, DAOs, and funding exchange liquidity (which is really just re-selling SmartCash).

That said, proposals that have clear, measureable goals with reasonable timelines and costs are more likely to gather votes. Including multiple projects that have distinct timelines, goals, or and teams make sense to have voting done individually. If any part of a project sours a voter, they are more likely to vote NO on the entire thing.



I’m expecting SmartCard very soon, yes. There is a new brochure describing SmartCard which will be released tomorrow.


Thank you @mark-smartcash, @Cryptonfused and myself are willing to update and rework the proposal to the best fit, we have intentions of removing the business incubator aspect of the proposal, but if a different Alt-coin picks that up its really going to promote that coin, this should have been smartcash’s opportunity to change the world’s view on digital currencies. cheers


@seanbrodie ,@columbiaminer ,@keydos , @Solarminer , i appreciate your time, comments and suggestions made in this proposal, i would be glad if you could check this info. you would see that women are not how we think or take them to be, @nitego has already mentioned in her comment the need for this project. @slpin and @mark-smartcash have also seen the need, @cryptonfused and i want to reiterate that we want to get the best from this proposal for the overall benefit of the community, please check this out; ( women are not as you see them.

#60 please click the link to join.