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Yensesa: Ghana’s First Steem/SBD Exchange via Digital Mobile Money System

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About

“Yensesa”, is a word derived from a Ghanaian language called Twi which translates as “Let’s Exchange”. Yensesa is a new exchange service that simply automates a process of exchanging Steem / SBD to Ghanaian cedi (in Digital Fiat form) via Mobile Money. Currently, the Ghanaian and other African users on Steem are doing this manually and our solution will automate it.

What is Mobile Money

Mobile money is digital currency on the rise in Africa. Mobile telecom companies in Ghana, Nigeria, and Kenya, just to mention a few are leading the way into the cashless future, by allowing their customers to send digital money to each other and are able to cash out in paper money at converting mobile money Kiosks. There are thousands of such Kiosks at every corner in Ghana.

In 2016 MTN in Ghana recorded about GH¢56 billion in mobile money transaction, Kenya’s M-Pesa still accounts for the highest number of mobile money transactions in the country, with 423 billion shillings (US$4 billion) in person-to-person transfers. There is a huge opportunity to leverage the existing mobile money infrastructure and integrate it with the Steem blockchain to allow Steem users easily take out their Steem / SBD in mobile money transfer.

Problem

A common practice with Ghanaian / African Steem users needing to cash out their Steem. They end up having to transfer their Steem to a different trading platform, converting it into Bitcoin and then using a local Bitcoin/Cedi dealers to exchange. Dealers can be found on platforms like localbitcoin.com so this is already a reality and people are losing money and time between trading platforms and it being done manually.

Solution

Our proposed solution is to automate this existing manual system in 3 easy steps.

1. A Steem user who wants to sell their Steem/SBD for Ghana cedis signups up with us.
2. They tell the system how much Steem / SBD they want to sell and add their mobile money number to receive the cash.
3. They send the Steem / SBD to Yensesa from their Steem wallet and Yensesa sends them mobile money instantly.

We currently don't have that sort of crazy demand which could overload us yet but it is coming, as all of Ghana and Africa rushes to sign-up to Steem due to the massive promotion happening around Ghana and the continent at the moment. We see massive growth potential with this project as everyone that has a mobile phone in Ghana (Both smart and non-smart) can receive mobile money (Digital Fiat).

Imagine how much difference we can make in the next 2 years, with 30% of Ghana or 1 million Ghanaians, each needing to exchange thousands of Steem / SBD in a month, with the best service, customer support and approval from local government Yensesa will scoop up millions of Steem/SBD and we will become the Coinbase of Ghana and eventually Africa.

Milestones (2018)

• Feb 28th : Complete UI Design (PSD)
• March 16th : Complete PSD to Html Design
• April 5th : Complete Frontend + API integration
• April 16 : Release Private Beta
• May 11: Release Public Beta
• July 06 : Public Launch with the transaction volume of up to $5000+ processed.
• Aug 01 : Start Massive Public Steem promotion
• Sep 06: Release public API to support POS devices
• Nov 05 : Start POS integrations for Hotels, Restaurants, Shops and other service providers.

How Much We Need

We are asking for 5353 STEEM . However, if you cannot make the full amount anything would be greatly appreciated as it will still go a long way to help us. If we exceed this goal, the rest of the money will go into our marketing budget which is purely focused on increasing Steem awareness on local radio, television, street and social media ads!

What Will the Funding Be Used For

About 40% of the money raised will go into liquidity to support our first few transactions, 20% will go into engineering hires, 15% will go into operation cost and 25% into marketing and promotion (local radio, television, street, billboards, SEO and other promotion strategies by #accra and #teamAshanti) for Steem and Yensesa to increase awareness. This funding should be able to sustain the team until we reach cash flow positive and are ready to expand to the next phase of the project.

Ways You Can Help

We are currently looking for influencers from the Steemit community to help promote our project to their followers. If you're interested in partnering with us, Influencer(s) will receive 22% of what we raise on our Hyperfundit campaign.

Besides becoming an influencer or donating to our project here are a few other ways you can help make Yensesa a success!

• Resteem, upvote or comment on our participating influencer’s content
• Follow, resteem, upvote or comment on our @yensesa Steem account
• Let us know what you think we can do more or less of!
• Tell your crypto friends and networks about us!

Team Behind This Project

Advisors

https://yensesa.com
@yensesa

If you'd like to become an Influencer message @black-man on Discord.

Rewards

Donate SBD to claim the reward that you want! 92% of donations go towards funding this campaign.

These are the awesome Yensesa T-shirts you can choose from!

See transfer history to check if the Limited reward you want is still available.

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