6 million financial transactions for just 20 cents (Joyce Kim, Stellar)

Joyce Kim, PopTech Fellow and Executive Director of Stellar.org, explores how the global financial system is a highway littered with roadblocks and tolls. Joyce discusses how connecting siloed systems with an open source financial network can foster affordable access to the economy. Watch the talk here: https://www.youtube.com/watch?v=-QgsJMEcpNg

Transcript

1. Stellar: Financial Access for All @joyce, Executive Director of @stellarorg
2. Moving money is difficult and costly.
3. +$44 Billion spent on middlemen
4. 15% daily income Single transaction fee =
5. It is expensive to be poor.
7. Enabled by global protocols (HTTP)
8. Lack of financial services for the poor
9. Build low-cost services on an open network.
10. Stellar’s pilot has enabled 6 million transactions.
11. Wire transfers: $150 million
12. Wire transfers: $150 million M-Pesa: $2 million
13. Wire transfers: $150 million M-Pesa: $2 million $0.20
14. Total. 20 cents.
15. Enabling local economies
16. $44 billion stays in communities.
17. The Stellar team
18. By contributing, you become an impact billionaire. Helping billions save billions! Build A Stellar Future
19. Support Stellar.org Developer training: $10,000 per region
20. Support Stellar.org Developer training: $10,000 per region Microfinance: $250,000 150 million people