Kotani pay, a Kenya based digital currency on and off-ramp service provider in partnership with Refugee Integration Organization (RIO) and Impact Market will enable the transfer of Universal Basic Income (UBI) payments to African refugees. The finTech start-up will be using the Celo blockchain platform to ensure payment reaches the intended beneficiaries.
According to Kotani Pay’s recent post on medium , the finTech start-up in partnership with RIO and Impact Market will provide a familiar interface that works on features phone. This interface will eliminate the need for an internet connection when interacting with blockchain protocols. Kotani Pay also added ” (The partnership) is achieving a never-before-done implementation of UBI through a stablecoin that is available to non-smartphone users. This is a pioneering achievement in the world of UBI, digital currencies, and the inclusivity of refugees”.
Meanwhile, the chief marketing office of Kotani Pay, Brian Kimotho revealed some of the details relating to the funds. Kimotho said
” The programme will support 5,000 refugees. The refugees can claim the equivalent of $1 (100 Shillings) in Celo Dollars (cUSD) daily up to a maximum of $400 (40,000 Shillings) in a month. We are currently running on a pilot with 1,000 refugees with plans to onboard the remaining 4,000 within the next few months.”
Meanwhile, in the Medium post, RIO says ” The use if Celo blockchain will certainly help keep fraud on corruption from this programme, ensuring that for once, every dollar will go to the people they are meant for”. RIO went further to dismiss the assertions that this UBI programme will likely cultivated dependency syndrome among refugees. The NGO says it believes the UBI ” should not be implemented as a sole means of economic development”. Instead, the payments should be combined “with business training, entrepreneurship awareness, and other financial inclusion services, such as micro-loans”.