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Call to start Emerging Market adoption strategy


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Executive summary:

In below thesis you will read about my firm belief that true adoption of DeFi is likely to start in emerging and frontier markets, as such I define a call for action to kickstart the adoption of Maiar app in these markets to increase financial inclusion and improves peoples lives.


Emerging market characterise itself by one or more of the following unstable environments:

·         High inflationary local currency,

·         Low institutional and political trust,

·         High remittances into the country,

·         Low security,

·         High chances of capital controls,

6bn people live in Emerging Market countries representing 85% of the global population. Majority of emerging market population is below 30 years of age. These countries have on average medium level of internet access and smartphone adoption, expected to grow significantly over the next decade. This market is by far the most interesting market for Maiar and Elrond. It is the market where the large majority of the population will live in 2100 and where technology will have its place embedded in the daily lives of people.


Sustainable Development Goals:

As Beniamin indicated Elrond is set-up to provide financial inclusion, innovation and economic growth to these markets. All in line with the following SDG’s (including but not limited to).

·         SDG 1: Eradicating poverty

·         SDG 5: Gender equality and economic empowerment of women

·         SDG 8: Promoting economic growth and jobs

·         SDG 9: Supporting industry , innovation and infrastructure

·         SDG 10: reducing inequality

Also WEF underpins the importance of blockchain technology in this endeavour with one of its latest publications (https://www.weforum.org/agenda/2021/06/cryptocurrencies-financial-inclusion-help-shape-it/)


The Plan:

As such I would invite all Elrond community members to come together to start a global financial inclusion movement. This movement will be power by Elrond technology. Radical innovation is great, but in most cases lacks adoption among the mass. As such I propose the creation of the following additional infrastructure to provide a MVP platform for population in Emerging markets to move towards a significant enhancement to their financial freedom and opportunities in life.

·         Minimal Maiar version, with QR scanner as prominent way of use)

·         Merchant Maiar app (request for payment from buyers (online and physical store purchase)

·         USD/EUR stable coin (USD and EUR are most trusted currencies in emerging markets)

·         Fiat on/off ramps.

The move from legacy financial system towards a self-custodial, global and political/regulatory independent financial system will have a crucial alleviating impact on people in emerging markets.

It in my sincere belief that true adoption of this new financial system is more likely to start in Emerging and Frontier markets as Developed market population does not face the day to day disadvantages of current financial (ex)clusive financial systems.

I reach out to you to share your thoughts on this thesis. So that we can start to work toward a strategic paper on which we can start the execution of global adoption and true financial inclusion.


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A very good resume Dirk of the potential of Elrond / Maiar. I agree that emerging markets can ' leap frog' this new aplications. Still there needs to be an entry point for fiat to be deposited. This has to be available and reliable too. Also to be able to get the cooperation of governments do you need to tax the transactions. They will not accept a parallel money system without taxation. That can be done automatically.

Crypto Luctor Thomas

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  • 3 weeks later...
On 6/13/2021 at 1:52 PM, Dirk said:

   Fiat on/off ramps.

I’ve been testing  the Blockfolio app over the last few weeks and yesterday I managed to add funds trough Blockfolio on iOS, buy Bitcoin and transfer it to Maiar. It went smoothly and both apps have a very straight forward UI. If it were to withdraw Bitcoin, I would reverse the process. Unfortunately Blockfolio doesn’t offer the option to purchase EGLD for now, but this two steps process might be a temporary option. 

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