- The Kiva Protocol will provide digital citizenship
- Opportunity to participate in financial transactions
Sierra Leone will use the blockchain to identify citizens
The Government of Sierra Leone, the United Nations Development Investment Fund, the United Nations Development Program and the non-profit organization Kiva have teamed up to create a digital identification system that will provide 7 million citizens of an African country with formal digital citizenship.
Sierra Leone’s citizens do not have access to banking services and financial services
According to the World Bank, 80% of Sierra Leone’s citizens do not have access to banking services and financial services due to the lack of full identification documents and a clear credit history. The vast majority of the population is divorced from the global economy. All these people are forced to use cash only, which entails many risks and does not allow them to break out of the vicious circle of poverty.To solve this problem will allow Kiva Protocol. The choice fell on Sierra Leone due to the fact that the country has only one credit bureau, whose services are used by less than one percent of the population. The Kiva Protocol will provide citizens of Sierra Leone with digital citizenship based on distributed registry technology, while personal information (including credit history) will be under the full control of each individual citizen.
Thus, citizens of Sierra Leone will have the opportunity to participate in the widest range of financial transactions, from bank loans to retail loans, using the funds thus obtained to pay for medical care, education or to start a business. The launch of the Kiva Protocol in Sierra Leone is scheduled for 2019. The first stage of the project will take about three years.