Welcome to https://ahoro.org/ a straightforward and confidential peer-to-peer Bitcoin lending platform. Our core mission revolves around advancing financial inclusion and economic empowerment, making affordable microfinance services easily accessible to those most in need in developing nations.
Our primary objective is to connect individuals through lending, alleviating poverty on a global scale by extending capital access to underserved people and communities who are overlooked by conventional financial institutions. We particularly focus on supporting small enterprises, women, and marginalized groups.
Picture a world where all individuals possess greater self-esteem and the ability to enhance their lives through financial service accessibility. A world where lenders and borrowers unite to effect positive change. Through our online platform, we enable people to lend through Bitcoin blockchain technology, starting from as little as $1 (equivalent to 1 satoshi), reaching borrowers worldwide. We firmly believe that by harnessing the potential of Bitcoin, Lightning, and emerging social media protocols like Nostr, Ahoro can contribute to a more inclusive and equitable global landscape.
A staggering 1.7 billion adults still lack access to formal financial services, and even those who do have such access often struggle to secure credit. Ahoro aims to tackle the financial exclusion experienced by individuals, communities, and organizations in low-income countries, bridging the gap between them and basic financial services. These individuals typically have no access to traditional financial institutions, making it nearly impossible for them to access the credit necessary for starting or expanding businesses, investing in education, or covering unforeseen expenses.
According to the World Bank's Global Findex 2021 database, approximately 29% of adults in developing countries and 24% globally lack access to formal financial institutions, such as banks or microfinance institutions. The COVID-19 pandemic, or C19, has underscored the significance of financial inclusion, leading governments and financial institutions to take steps to enhance financial service access for underserved communities during this crisis.
Ahoro utilizes Bitcoin to enable individuals to offer microcredit to individuals and small businesses in low-income countries, granting them access to affordable credit without requiring a traditional bank account.
However, a significant challenge arises when individuals lack the necessary financial identity, credit history, or guarantees that traditional financial institutions typically require. How does Ahoro ensure that people without these conventional financial markers will repay their loans?
Our approach to assessing creditworthiness in the absence of traditional credit scores or guarantees involves leveraging alternative data sources and machine learning algorithms. The widespread availability of mobile phones in these regions has facilitated the development of digital financial services. Mobile network operators have expanded their networks, offering prepaid services that connect individuals without the need for upfront costs or credit agreements. This has given rise to a technological solution known as "Financial Identity-as-a-Service" (FiDaaS), which leverages the relationships mobile carriers have with customers to establish a unique financial identity and credit score for previously unbanked customers.
We collect data from mobile phones, social media accounts, and other sources to create a comprehensive profile of a borrower's financial behavior, including income, spending habits, and payment history. Machine learning algorithms analyze this data to identify patterns and predict the likelihood of loan default.
Furthermore, we utilize social media and community connections to encourage borrowers to repay their loans. Borrowers may be required to have a certain number of friends or family members on the platform who can vouch for their creditworthiness, which adds peer pressure and social responsibility to the mix, motivating borrowers to honor their repayment commitments.
Lastly, we provide borrowers with financial education and training programs to enhance their understanding of loan terms and effective financial management. Empowering borrowers to make informed financial decisions increases the likelihood that they will repay their loans on time.
Our vision is to create an inclusive world where all individuals have the opportunity to thrive and reach their full potential by connecting people through lending and combating global poverty. Our goal is to expand capital access to underserved individuals and communities, with a particular focus on supporting small enterprises, women, and marginalized groups.
Imagine a world where everyone possesses greater self-esteem and the power to enhance their lives through financial services, where lenders and borrowers unite to drive positive change. Through our online platform, Ahoro empowers individuals to lend as little as $1 (1 satoshi) to borrowers around the world using Bitcoin blockchain technology. We are confident that by harnessing the power of Bitcoin and innovative social media protocols like Nostr, Ahoro can help create a more inclusive and equitable world.
But why is now the right time for this endeavor? Several factors make leveraging Bitcoin for social impact investing a compelling proposition:
Growing Interest in Bitcoin: Bitcoin's acceptance and adoption have surged in recent years, making it a valuable asset for individuals and organizations alike.
Increasing Need for Social Impact Investing: Traditional sources of funding for social programs may prove inadequate or unreliable, emphasizing the need for social impact investments.
Advances in Blockchain Technology: Ongoing developments in blockchain technology have improved the ease and security of Bitcoin transactions, rendering it a more feasible option for social impact investing.
Shift Towards Decentralized Finance (DeFi): The rise of decentralized finance has opened the door to decentralized lending and investment platforms. This trend could facilitate the creation of a decentralized social impact investing platform using Bitcoin.
Competitive Advantage: Leveraging Bitcoin for social impact investing allows B Corp organizations to distinguish themselves from traditional platforms and attract investors interested in supporting social causes through innovative technology.
The potential for banking the unbanked represents a massive $380 billion opportunity. According to a report by the Consultative Group to Assist the Poor (CGAP), the global microfinance sector had a loan portfolio worth approximately $380 billion as of December 2021, encompassing the entire global microfinance sector. Oxford Economics corroborated this figure at around $408 billion, with substantial growth potential in emerging markets.
Ahoro sets its sights on the 44% of the global population that remains unbanked or underbanked, primarily in low-income countries where traditional microfinance institutions struggle to reach. We aim to address this challenge by providing an online platform accessible via any mobile browser, enabling individuals to offer microcredit to borrowers in developing countries who would otherwise lack access to conventional financial institutions. Our efforts go beyond simply extending credit; we also tackle barriers to financial inclusion, including a lack of financial education and social stigma. By building a global community of lenders and borrowers, we aspire to raise awareness and understanding of the challenges faced by underserved communities, fostering greater financial inclusion and economic opportunities for all.
In summary, Ahoro's business model is designed to connect lenders and borrowers transparently and responsibly, offering borrowers access to affordable capital they would otherwise struggle to obtain. We embrace the Value4Value model, advocating that individuals receive value in proportion to the value they create. In the realm of microcredit, this means that borrowers who receive microloans are expected to generate value, be it through business growth, job creation, or other measurable impacts. This model enables us to provide services without immediate expectations of returns, promoting financial inclusivity and economic growth in local emerging economies. We have established a system of incentives and rewards to encourage both borrowers and lenders to create and provide value in proportion to what they receive, ensuring that Ahoro microloans make a meaningful contribution to financial inclusion and economic development in low-income communities.