ZipZap Overview - Bill & Melinda Gates Foundation
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The document discusses financial exclusion and high costs of traditional money transfer services. It notes that over 50% of the world lacks access to financial systems and that remittances, or money sent between individuals in different countries, is a $540 billion annual market with $74 billion paid in fees each year. The document proposes that payment innovations using decentralized digital currencies like Bitcoin could reduce costs, increase efficiency, and boost economic growth by facilitating faster and cheaper international money transfers.
ZipZap Overview - Bill & Melinda Gates Foundation
- 1. info@zipzapinc.com | 714 906 2548 | www.zipzapinc.com
- 2. Financial Exclusion Financial systems exclude 53% of the world. Most of these people live in poverty.
- 3. Pick Your Poison Bank Wire Slow, Expensive, Black hole MoneyGram/ Western Union Expensive (about 8%) PayPal/Credit Cards Expensive: $0.30+2.9% Chargeback Privacy/Fraud concerns
- 4. Cost of Money Transfer *figures from the World Bank Average cost to send money by product type Lowering fees by just 5% could save consumers $16B / year.
- 5. info@zipzapinc.com | 714 906 2548 | www.zipzapinc.com Remittance Market $540B MARKET PER YEAR $74B FEES PER YEAR 8% AVG Top Remittance Receivers (World Bank)
- 6. Remittance Is Growing Remittances to developing countries Total Remittances *e is expected, f is forecasted Up to 40% of GDP Poor countries rely on remittances as a source of income.
- 7. Remittance Fees vs. Foreign Aid Chart Title $74.4B $133.5B
- 8. How can we fix this? Innovate!
- 9. Innovation!
- 10. Payment innovations increase GDP $983+ Billion total to real GDP around the world. +1.9 Million jobs
- 11. Increases in GDP lead to positive social benefits Clean Water Improved Healthcare Lower Corruption Higher Literacy Rates GDP
- 12. Decentralized Currency Fast & Cheap Instant transfer of property without intermediaries or high fees Not just for techies, libertarians and the anti-establishment Truly universal No Corruption No Inflation No Banks The next wave of innovation: Money 2.0 $
- 13. Bitcoin Numbers $370 Price $5B Market Cap 33K Developers 65K+ Merchants $5M+ Wallets 500K People $300M+ VC Investments Source: CoinDesk, July 2014
- 14. Usage Is Growing But In The Wrong Places
- 15. Remittance Is The Best Use Case US India
- 16. Micro e-Commerce Travel Platform Solutions (Bitcoin 2.0) Authentication Transcripts Escrow Transactions Title Insurance Other Use Cases
- 17. Reduces Costs Provides Efficiency Creates jobs Increases GDP Leads to positive social benefits Enhances quality of life Conclusion
- 18. info@zipzapinc.com | 714 906 2548 | www.zipzapinc.com THANK YOU! Alan Safahi, CEO alan.safahi@zipzapinc.com 714 906 2548 182 Howard St #207 San Francisco, CA
- 19. People likely to use Bitcoin Source: Morning Consult