Mercy Corps and airtime to the crypto service provider, Fonbnk, now join forces to launch a learn-to-earn pilot program that will cater to the underserved users in several African countries by promoting a digital economy and web3 development.
Fonbnk and the famous non-profit organization Mercy Corps launch a learn-to-earn program for web3 development. The learn-to-earn program focuses on financial and web3 literacy and digital earning opportunities.
Fonbnk aims to create a locally based program where job seekers take courses on financial literacy. The learn-to-earn program will also incorporate web3 skills and Fonbnk market maker opportunities.
The learn-to-earn experience
Despite the large continuous divide in Africa, Mercy Corps launched a pilot to accelerate access to the digital economy. In conjunction with Fonbnk, the pilot will train underserved users on financial literacy and web3.
The training will enable users to swap prepaid airtime for cryptocurrency. Fonbnk’s decentralized and market-making platform now features smartphones. The platform enables users to exchange prepaid airtime for crypto at a determined rate.
Users can convert airtime from over 1,000 international phone networks into $MIN tokens. Once in the marketplace, the users interact with airtime liquidity providers. The network of airtime liquidity providers enables users to transact based on their respective mobile carriers.
Users also use virtual cards funded by digital money to make online payments. 1 MIB is capped at $0.01 during an exchange.
The app also allows market makers to earn extra income. Individuals and enterprises also benefit through actively trading airtime on the marketplace. Airtime traders can easily transact by creating liquidity for the swaps.
Also read; BNPL DeFi Project by Mercy Corps for Street Vendors in Kenya
A Pilot Phase by Fonbnk
In addition, Fonbnk is using the pilot to explore growth opportunities for the Fonbnk platform. Apparently, Fonbnk’s airtime to crypto service exists in different African countries. Some of the countries include Kenya, Ghana and Nigeria.
Fonbnk plans to launch the learn-to-earn program in other African countries. The program will be directed towards serving underserved customers in the regions. Fonbnk uses the pilot program to determine the market opportunity for such programs in Africa.
The test also indicates the differences between the countries involved when it comes to the digital economy,
Mercy Corps exploring the Web3
Meanwhile, Mercy Corps claims that the program’s success will mainly be determined by how well the groups benefit. The nature of programs and adoption by low-income populations will also be factored in.
Several key measurements will be considered in determining the impact of the program. The total number of users registered and those that complete the courses will be crucial data in the pilot.
Other factors include the amount paid as incentives and the number of underserved clients.
