Updated Jan 15, 2021

Digital identity platform harnessing Blockchain and AI to transform access to social and financial services for the underserved

https://aid.technology

Grace Ma

Leveraging blockchain technology and underpinned by digital identity, when delivering digital assets such as welfare, remittances, healthcare, aid and donations - transaction records are permanent and traceable. With the capacity to provide unprecedented levels of accessibility and transparency towards data, there becomes a huge potential in disrupting the status quo whether it is in the public...
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Leveraging blockchain technology and underpinned by digital identity, when delivering digital assets such as welfare, remittances, healthcare, aid and donations - transaction records are permanent and traceable. With the capacity to provide unprecedented levels of accessibility and transparency towards data, there becomes a huge potential in disrupting the status quo whether it is in the public, private or third sector. Low-income women receive a Digital Identity. With this Digital ID, a fixed cash amount is sent to the client for every night that she is hospitalized, regardless of the actual expenses incurred. The product is simple and easy to understand. Claims money goes to the customer directly unlike other insurance which reimburse hospitals for part of the treatment costs. Caregiver is a complementary product meaning it can be used with other health insurance or social security schemes to which they are enrolled. This enables customers to use the extra cash to pay for other emergency expenses and maintain their consumption levels.
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Implemented In:

Serbia, Ireland, India and 6 MoreSEE ALL

Serbia, Ireland, India, Syria, Singapore, Tanzania, Indonesia, Philippines and LebanonSEE LESS

9
Countries Implemented In

Problem

Despite advances in technological development, there continues to be 1.1 billion people without any form of legal identity. Without legal identity, individuals are prohibited from accessing the wide range of services that enable positive development – socially and financially. For those who are receiving welfare and aid from institutions, each time an individual receives a payment, whether it is remittances, welfare, donations or aid, they are one-offs with little sustainable impact. There are also individuals with legal identity but no digital trail. Whilst they have access to social and financial services, they are not able to capture any data associated with their identity profiles. As end-users lose out, institutions also face challenging issues around efficiency and effectiveness. Governments, development bodies and disaster relief agencies face mounting demand amidst reduction in resources. Without access to reliable and regulatory compliant data, organisations struggle to find efficiency gains; whether it is to ensure that support is reaching those intended, or how best to targetedly allocate. A solution is necessary to enable end-users the opportunity to participate in the global digital economy; through affording institutional partners the ability to offer accessible channels and avenues.

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Solution

To tackle these problems, we have created a proven global identity gateway with security and traceability. If Google created the search engine, we created a transparency engine. Through our customers (governments, banks and other institutions), the solution brings users access to the most important services including payments via digital identity using blockchain technology. Our solution has been tried and tested across multiple verticals globally. These include social welfare, remittances, e-health, disaster relief, donations and aid. The AID:Tech solution has been deployed in the US, Ireland, Singapore, Philippines, Serbia, Tanzania and Lebanon. With this specific innovation we will be delivering Microinsurance in partnership with Women's World Banking to more than 2 million women around the world, building on a solution called 'caregiver' which has already been deployed in more than 10 emerging markets.

Target Beneficiaries

Low-income women of all ages are the main target population. Each year more than 100 million people are pushed into extreme poverty in order to pay for health services, as per the World Health Organization. It is also targeted at entrepreneurs and their families to provide them with an income replacement tool in case of hospitalization. Existing social insurance systems have limited coverage. <20% population in Tanzania, Kenya and Uganda are covered by the social security schemes and these are the initial target countries.

Milestone

Date Unknown
New Country Implemented In
Lebanon
Date Unknown
New Country Implemented In
Philippines
Date Unknown
New Country Implemented In
India
Date Unknown
New Country Implemented In
Ireland
Date Unknown
New Country Implemented In
Serbia