[ sketches for a MΛNIFΞSTO ]
Brazil is the fifth largest online population. Around seven out of 10 Brazilians are online, while nine out of 10 internet users access the web on a daily basis. There are more mobile phones than people. Moreover, Brazil is the country in the Western Hemisphere with the most time spent on social media per day.
We get really excited to imagine the big boom on our platform when officially launched, that is why we need better preparation, from infrastructure and Legal support to the Liquidity Agents and ourselves.
A subject that usually comes to us looking above all technological challenge is the idea to share part of the actual fee being paid to the Agent per executed Contract going to a special Social ZEC Treasury. With today's [01 July 2021] ZEC price, our arithmetic shows that 20% of fees going to the treasury would generate the Brazilian legal monthly minimum-wage on each 1000 transactions ($1.10 * 1000 * 0.2). In a resource-limited world, and as more people we are, more we should be able to distribute accumulated wealth to those far from for-profit circuits. The Zcash Fund that enabled our work is a good example.
From Argentina to Venezuela, our South American brothers and sisters are struggling on shocking inflation that melt their wealth. We have relatives getting an equivalent of $2 per month in Venezuela (on Pesos Bolivares) or close friends getting the minimum wage of $7.3 per day in Brazil (R$1100 BRL/month) while official statistics presents that half of Brazilian workers get even less. Most traditional Banks in the country still asks monthly subscription to keep accounts active, while profiting with people's money on unknown investments - some are even connected with Amazon deforestation, just for profit.
Brazilian financial system is volatile and often leaves its citizens with few or no alternatives. According to an HBS case study, “in December 2018 the interest rate in Brazil for corporate loans was 52.3%, for consumer loans it was 120.0% and for credit card indebtedness it was 272.42%.” Those rates are many multiples higher compared to figures in neighboring countries.
The Decentralized Financial infrastructure being developed last years opens new methods and possibilities, but this could also lead to more inflation for those far from the modern financial infrastructure encoded as non-national currencies. We wanna help to converge to a point where Traditional suckers (literally) become obsolete and money can be liberated into communities in their own private ways.
Lots of Research & Develop to do. We are also starting a Medium soon to share ideas and results.