AWARD YEAR
2019
CATEGORY
Community
GOALS
Innovative Financial System
KEYWORDS
refugees, virtual banking, borders
COUNTRY
United States of America
DESIGNED BY
Nat Robinson, Tori Samples
WEBSITE
http://www.leafglobalfintech.com/
Leaf
Virtual Banking Beyond Borders.
Blockchain technology with its distributed ledger, decentralized administration, and secure cryptography presents an opportunity to provide affordable financial services to refugees crossing through multiple countries. Leaf converts mobile money through blockchain technology into stable investments. Value is not stored in cryptocurrency so that refugees are hedged against volatility. The platform is accessible through a mobile device—no smartphone required. Friends and family abroad can also contribute into a refugee’s account, creating bridges within networks dispersed by trauma. Whenever the refugee reaches a point of safety, they can withdraw into the new local currency or use their balance as collateral on a microloan. Leaf’s platform offers a secure, affordable, convenient way to safeguard and transfer money across borders that ultimately leads to an economic identity.