Frequently Asked Questions
What is Blockchain for Change?
The core of Blockchain for Change services is a marketplace that connects service providers with the underserved for easier and more efficient interactions and transactions. We seek to empower underserved and low-income individuals that benefit from and interact with service providers on our network. Our goal is to give back time, safety, dignity, support, and access to individuals and ultimately, inclusion into the traditional financial system.
What is blockchain?
A blockchain is a database which protects and stores information on a number of different devices within a network of computers. These devices are connected to one another through a digital approval process allowing interactions that keep your data safe and private.
What does the “Change” in Blockchain for Change stand for?
Blockchain for Change is attempting to combat financial exclusion by building for the underserved and underprivileged, first in the United States and then in the rest of the world.
Modern services constantly require users to provide a verified, government identity, and without a verified id, individuals are locked out from vast expanses of the modern economy. According to the World Bank’s Identification for Development (ID4D), 1.1 billion individuals worldwide are unable to prove their identity, and more than 2 billion people are excluded from the traditional banking system. Around 60% of adults worldwide who do not have a bank account cannot access one because of a lack of minimum funds.
Our immediate focus is the US, where approximately 13 million voting-age citizens do not have proper and updated identity documentation. 9 million of the 67 million low-income individuals who receive federal benefits are unbanked, with significant ensuing societal costs. One study showed that this gap in documentation directly prevents them from accessing basic services. The problem is particularly acute in New York City: 127,000 men, women, and children suffer from unstable financial and home lifestyles, the highest number since the great depression. Meanwhile, a further 780,000 individuals are underbanked (strong reliance on non-traditional forms of financial services).
What is the Fummi Application?
Fummi is an easy and secure phone application for you to instantly access and connect with a range of services such as housing, food, interactions with the staff of service providers and ultimately financial services. Be in control of the services you use as well as your time and your money!
What is Fummi used for?
Fummi is an application that allows users to create a digital profile and access services and interact with service providers through an online marketplace.
Fummi currently let’s users:
- Create an account
- Complete and verify tasks assigned by Service Providers
- Schedule and check-in to services
- Complete surveys and earn extra money
- Verify and manage activity
- Access support and get help within 8 hours
Who qualifies for Fummi?
During this Pilot Test, a small group of pre-selected users will qualify to test the Fummi application. Once it is in full production, it will be available to the public.
How do I know my private information on Fummi is safe?
I work for a service provider and I’m interested in using the Fummi app. What should I do?
Contact us at [email protected]