Fidutam is an Android microlending application based on blockchain. This platform is designed for individuals in low-infrastructure and financially underserved communities.
Purposes
The utility is a mobile client of the eponymous web resource. First of all, it is intended for so-called Persons of Concern or PoCs including refugees, asylum-seekers, returnees, internally displaced, or stateless people. This service is working towards equitable banking and is different from other microlending apps like EaseMoni.
Fidutam is a SIM card based product that is offered offline. This solution removes financial documentation which is proven to be the biggest barrier to entry for unbanked persons.
Loans
The service provides small amounts of money to individuals and families. It is based on a blockchain and uses a SIM card to offer microloans from $50 to $100. To enter Fidutam, you need to make a selfie and provide your name. Also, it is necessary to have a mobile phone, even 2G. An Internet connection is not required and there are no limitations for users.
Please note, that only you can access and manipulate your data, but all your actions in the app are recorded. This is how the service keeps track of everything while keeping users in control.
This utility is supported by well-known companies, including VISA and J.P. Morgan. Also, Fidutam integrates with offline partners such as UNICEF as well as churches, and centers around the world. They offer you a SIM card with the app and tell you how to use it.
Features
- is a microlending app based on blockchain;
- integrates with offline partners and world-famous companies;
- is intended for refugees, asylum-seekers, returnees, and other unbanking persons;
- it is possible to apply for a microloan without financial documentation;
- app is free to download and use;
- compatible with current Android versions.
