ONE Steem can pay for TWO to THREE meals in Ghana; problems & Yensesa's solution

in steem •  6 months ago

Seeing how wildly powerful and life-changing Steemit has been since it’s adoption in the Ghana community in 2016; in late 2017, @black-man and @hemangmehta came together driven by one mission. They set out to help the people of Ghana sustain a new and improved lifestyle by making Steem a more feasible source of income. Together these two visionaries started developing @Yensesa, the first ever exchange for converting Steem/SBD to Ghana Cedis (Fiat) in Ghana.

@Yensesa is one of the projects that we are aiming to help get funded on hyperfundit.com.

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Photo by @mcsamm

Hello fellow Steemians,


We are all too familiar with the difficulty in converting Steem to Fiat and vice versa. While you may have been able to figure out how to use 3rd party exchanges, this barrier of entry has deterred thousands of people from getting involved with Steemit.

This situation is not too different in Ghana. To make a transfer, instead of one 3rd party site, Ghanaian users are required to go through several 3rd party sites to make an exchange while transaction fees rack up with each site. Transactions also typically take 2-3 hours to complete.

The transaction now finalizes and I receive cash of 563 Cedis which means I lost 70 Cedis to transaction fee from the multiple sites. Since I sent 143 USD which is equivalent to 637 Cedis.

@black-man

74 Cedis is equivalent to 16 USD, the initial transfer was 143 USD. To put things in perspective, think about it as if every time you went to cash out your Steem or deposit more Fiat into Steem, you get charged over 10%. That’s what has been happening in Ghana.

*****

ONE Steem can pay for two to three meals in Ghana

This was brought to my attention in a live video call with @black-man at the @steemcreators pitch event. I overlooked exactly how much Steem is a life-changing opportunity for millions of people all around the world.

Below are standard grocery costs in Ghana, currency is seen in USD:
ghana market.JPG
Source: numbeo

Imagine how much of an impact Steemit/Dtube/Dlive can make for Ghanaians when the exchange process gets simplified, the 10% fees get reduced, and transactions happen in minutes rather than hours. Think about the millions of Ghanaians who will better understand/get started in the Steem space and can make a living from posting (quality content) to the blockchain.

Fortunately, the solution is here. With @Yensesa’s proprietary technology, Ghanaian users can now make exchanges all in one page with minimal transaction fees. The exchange is currently live and in open beta. They will continue to expand through the rest of Africa and have plans to become a global exchange, making direct exchanges available to everyone in the world.

yensesa.png

Do you want to see it for yourself? Click around Yensesa.com

With Yensesa, you can do all this in 3 simple steps all on the same page. Isn't this great.. and on top of that, for a transaction of that amount ....( transfer 637 you get 635)

@black-man

In addition to the savings, the money is transferred in 5-30 minutes as opposed to 2-3 hours.

Transfers can even be processed through text messages, allowing even users without smartphones to make a transaction. Their network is secured with MTN Mobile Money, the equivalent of AT&T in Ghana.

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THANK YOU to the whole team at @Yensesa for their dedication to advancing the Steem dream in Ghana: @black-man, @hemangmehta, @Enockagbo1, @Desmond41, Magrette Osafo, Timothy Quarshie, @Ackza, @Masterroshi, @Richforever

While @Yensesa is a small team, they have a big heart with a noble cause. The exchange that they have developed is going to help millions of Ghanaians support their families and ultimately improve the Ghana economy with the adoption of Steem.

*****

50% of the STEEM earned on this post will be donated to @Yensesa’s fundraising campaign.

Will you also support @Yensesa’s vision to help the people of Ghana?
You can support their project on hyperfundit.com.

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Thank you for reading, I look forward to the changes we can make together!

rob chen 100px.png Rob Chen, Co-Founder

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Upvoted 100%! Please consider this a donation from me as well. We may not have so much wealth in the world we still have beautiful life and for that we thank God for all the things. Having Steemit is wonderful treasure to cherish that we discover. People are helpful and supportive. Great bringing my naive mind about this happening on one part of the world.

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rob chen 50px.png Yes I agree, Steemit is doing so much good for the world and it's just a beginning! :D

Thank you for your continued support hiro! :)

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powered by blockchain

https://goo.gl/VtQ6rF ----- WEBSITE
Excuse me for advertising. It is necessary to earn. I'll try to stop soon. :)

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A very good post rather a thinking. We all here to do something for us but i really admire your idea. This world gonna become a heaven if all we think like this. Cheers!

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Thanks so much for your support, it's good to see when great people see the potential of this project

It's amazing to see how a 'small' support from steem could actually help out real people living across the globe. Please keep me updated with your great work Rob :)

Please consider my 100% upvote as my steem contribution of your noble endeavor of our fellowmen in Ghana Africa.

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rob chen 50px.png Thank you for your kindness :)

No matter how old you are now. You are never too young or too old for success or going after what you want.

This is a beautiful cause. I'm so glad you have enacted this service. Is there anyway we can donate? I would feel so glad knowing 1 of my Steem tokens fed someone for a whole day. Maybe we can start a campaign to where we donate the Steem token with our name, and the person it goes takes a picture of themselves with the food they receive! I want to continue to support this.

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rob chen 50px.png Thank you, you are so thoughtful :)

Your suggestion would make for quite a meaningful campaign

Yensesa has a campaign up where you can make a donation after signing up: https://www.hyperfundit.com/product/opening-first-ghanaian-steem-sbd-exchange-utilizing-already-existing-digital-mobile-money-system/

crypto will change live in places like africa

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rob chen 50px.png Yes it's a possibility

I am thankful for people like the Yensesa team who are putting the time and energy into making it happen

STEEM will change the world! I can't wait to see it!!

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rob chen 50px.png I agree! I feel lucky to have found Steem early :D

1 STEEM could worth 100 USD within 2 years from now, that is what i expect, and this is not a financial advice. Steem has many opportunities to grow.

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yeah man once the people know about steem more and more & then price of it will increase n increase

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seems to be the case, i agree

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rob chen 50px.png I can't confirm or deny, other than to keep at it

@hyperfundit thank you so much for bringing @yensesa to the limelight. We shall forever give thanks like a pilgrim. @yensesa and @accra is way more than you can imagine. Apart from putting more money in people's pocket.... We wanna show the Ghanaian community that steem is the best. We want to on board a lot of people and incentivize them as much as we can. We want the people to be self employed getting rid of the entitlement mentality from the government.

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rob chen 50px.png You're welcome rich :)

You are making it happen, keep it up brother!

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Yh we will keep da fire burning.

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We're excited to be the change we want to see in the world. We will do everything we can to help your noble cause! :)

  • Iris

nice idea. all the best for your success. 100% upvoted

Steem could be a life saver for many in developing countries.

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Thank you for the amazing spotlight @hyperfund it. @yensesa is currently in private beta and is currently providing service for a few private beta testers. We will be opening to the public in a few weeks. We are currently open to investor and community support form the Steem community. Your support on our hyperfund it campaign will help us reach and serve a lot more people. Support @yensesa via https://bit.ly/yensesa and checkout yensesa from https://yensesa.com

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rob chen 50px.png Amazing initiative, the attention is well deserved :)

Thanks for bringing this information to the world.
I founded a world renowned sustainable eco village a decade ago and we feed tens of thousands of free meals a year. The people here actually live on about a dollar a day per person including food housing water and electricity.
I have been raising funds for all this time and taking care of so many people on so little.
Its important to help people its also important to build sustainable infrastructure that allows people to begin to take care of them selfs so that welfare is no longer required for a decent quality of life.

Blessings and best wishes on your mission and to all the people of the world~*~

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rob chen 50px.png Hey Quinn, great meeting you at the SteemCreators conference! Keep up the amazing work my friend :)

Thanks for stopping by and sharing, such an exciting vision you have! How's GoE 2.0 coming along btw?

Hi! As a Venezuelan speaking here, there is something similar happening here, as example, one SBD equals almost 3 times the minimun wage in our country. And as a social network Steemit is also helping us to help a lot of venezuelans who are trying to survive through this awful situation by posting really cool and interesting stuff here.

As a musician, living under communism and a very little range of economy freedom, I think Steemit is my life saviour and also a platform that helps me to show the world my work. I really appreciate this kind of posts!

Thanks a lot for doing this.

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rob chen 50px.png Thank you for sharing that. I'm glad to hear Steemit is helping you and many Venezuelans alike! This is why I'm so attached to this blockchain and want to do my best to help. I checked out some of your music, it's amazing. Keep it up man! :)

very good and informative post ever....

This article makes perfect sense. I said from the beginning that cryptocurrencies would change the world's economy as a whole. Not only do cryptocurrencies do this but steem takes it to a whole new level because everyone is getting paid equally on here. What may not be a living wage from steem in some countries will have you living like a king in others.

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rob chen 50px.png Indeed.

Steem can make a tectonic shift in how people interact, live their lives, and it's still only in its infancy. I'm excited for the possibilities and the near future!

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I am too. I believe that it will change the world

Steem could be a life saver for many in developing countries. AND...this is not just in Africa. Asia, Eastern Europe, and many parts of South and Central America have similar low living standards and low (or lower) costs of staples.

Check out Ukraine, for example. I bet one Steem would go even further there.

In that specific example, it could/would also make a decent expat location for westerners fleeing tyrannical governments and/or very high costs of living. They would blend in, appearance-wise, and be able to survive on a fraction of what they must have in the west.

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rob chen 50px.png You're right, I too believe Steem can change the world for the better.

For the time being, it's a matter of raising awareness and lowering the barriers to entry.

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Amen, bro!

this is great for the people of Ghana

Thank you for sharing this post

Exactly why we need mass adoption of crypto
Great

That a good new. Thank you for support.
Follow me back

This is an absolutely wonderful development. We can really save the world's most major problems with this new technology. Imagine the wealth and future developments that will exist across our world, solar system, and beyond due to simple cooperation. If we really put our minds together and help each other, will will build and grow into a true global community. Great work!

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rob chen 50px.png Yes human cooperation can go a long way. The Steemit community can do so much good as a whole :)

Why is Steemit Ghana popular in all the countries? We are also very popular in our country. I learned a lot from this post and learned a lot. It will give me more information about steemit. Sir, this post has been much better. We want more posts like this. Seeing such posts, we can learn a lot of things, we will hear many things that are familiar with many new things and about steemit Thank you and love Nebo

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rob chen 50px.png Thank you, I'm glad you enjoyed this post. We will be posting more content like this, stay tuned! :)

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Actually it has changed the world a lot and to the best, including the countries of Africa, Asia and Europe as well as Ghana in the way of growth, it is a beautiful country ..

So much YES! This is what Steem is all about.

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rob chen 50px.png Agreed Dave! :)

great, A very meaningful work for the community

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rob chen 50px.png Thank you :)

Congratulations friend! That looks pretty good. Keep it up. I invite you to read my publications and leave your comment or vote.
Success is on your side. Happy Thursday!💖

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rob chen 50px.png Thank you, we'll keep doing what we can :)

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Thank you💃🏻

Nice project i am thinking of starting such in Nigeria.

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Thanks @sonime... we can work together to get this to Nigeria. Both countries uses the same mobile ecosystem. Lets talk on this channel : https://discord.gg/3v2A4An

Great stuff Rob. I love your project. You have my continued support. Tell Yenesa I said hi as well

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rob chen 50px.png Thanks Brandon! Glad to have you with us :)

Very cool to see this being put to good use helping people!

Well to be perfectly honest, in my humble opinion, of course without offending. anyone who thinks differently from my point of view, but also by looking into this matter in a different perspective and without being condemning of one's view's and by trying to make it objectified, and by considering each and every one's valid opinion, I honestly believe that I completely forgot what I was going to say.

This is a beautiful cause. I'm so glad you have enacted this service. Is there anyway we can donate? I would feel so glad knowing 1 of my Steem tokens fed someone for a whole day. Maybe we can start a campaign to where we donate the Steem token with our name, and the person it goes takes a picture of themselves with the food they receive! I want to continue to support this.

Wow. I don't know the price of goods in Ghana is so cheap.

What a joy there are publications like these and solutions for countries that are going through strong economic situations. Such is the case of my native Venezuela, where 1 steem equals more than the minimum wage, but with the difference that this amount only reaches for just one meal and is almost the price of 1 kg of meat.

Its cool!

follow me and i will follow you!
https://steemit.com/@tophittaz/

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Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Rob hyperfundit from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.

If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.

Thats such a noble cause Upvoted ^^

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Thank you for your support! :)

  • Iris

Ganians should use their steemit wallet to transfer money. No fees and the process takes seconds.

Followback guys

Your post is very good!

Now look me in the eye and Follow Me @cryptopay-blogYour post is very good

Upvote to help all the people in africa, nice idea and very nice post!

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Thanks for your support! ❤️

  • Iris

Sounds like a great project! Thanks for getting the word out.

That's just fantastic...

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Please consider my 100% upvote as my steem contribution to support your meaningful work!

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thank you for your support! It means a lot to us and to the @yensesa team! :)

  • Iris

Good good good good good

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Panyang ikue tungkue

Changing the world, one STEEM at a time...

Resteemed and upvoted. Same situation is in Thailand. One could buy 2 meal for only 1$

People should extend their helping hand to them.

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Indeed! 50% of your upvote will be donated to their campaign on HyperFundIt and if you'd like to donate more to their great cause you can head over to their campaign to learn more about the rewards they're offering. :)

  • Iris

best wishes for you......

This post has received a 16.39 % upvote from @boomerang.

You got a 37.36% upvote from @emperorofnaps courtesy of @hyperfundit!

Want to promote your posts too? Send 0.05+ SBD or STEEM to @emperorofnaps to receive a share of a full upvote every 2.4 hours...Then go relax and take a nap!

This is a great project. I wish you success. It is amazing to learn how Steemit is making a difference in the world.

How is this unique to steem and why can't someone send money through paypal or westerm union (expensive, i agree) or a fintech like transferwise? Its ok of you've chosen steem but why is ateem or any other crypto needed in the first place?

That's some expensive as milk!

To help these countries that are currently going through great needs because of useless wars and that only makes them lose lives that can be more useful than the wars themselves.

I'm blown away that they only charge $3 for a pack of smokes. That's crazy!

Wow! This is wonderful, i wish more Ghanians could join steemit, so they can be making money the way you are making.

Steemit is making an impact in countries like Venezuela as well where the high inflation has make life very difficult for Venezuelans. Sites like steempays.net @steem-pays helps to exchange from steem/SBD to bolívares, the Venezuelan currency.

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rob chen 50px.png Amazing thanks for sharing! I'm happy to hear developments are being made to help the Venezuelan community

I love this. I upvoted, but I'm new so I'm not sure how much an impact that is.

hopefully steem will be a life saver!!

Great stuff, keep it up!

I Upvoted And Followed you. do The same for me and we could help each other Earn.

Highly interesting...thx for that info :)

Amazing bazaar

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Thank You! ⚜

great job. I upvote.

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rob chen 50px.png Thanks for your support! :)

A promising project. Best of luck!!

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rob chen 50px.png Thanks and we wish Yensesa the best as well!

I had to resteem this

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rob chen 50px.png Thank you for that :D

We really appreciate the support @hyperfundit #ghana will benefit greatly from the success of @yensesa!

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rob chen 50px.png You are welcome! Just doing what I can to help

nice post. good information. i know very little about Ghana. your post enlightened me

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rob chen 50px.png I'm happy to spread the word about their cause :) Thanks for stopping by!

Wow this is just nice work guys. Steemit is contributing so big for the community.

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rob chen 50px.png Thanks man, but the credit goes to Yensesa. They're changing lives with the exchange that they've developed. Yes I'm excited for the future with Steemit! :D

A very beautiful photo and you have some different vegetables there. I mean that huge one looks like ginger, but dont know what it is :)
Indeed Steemit has chenged the life of many people around the world and gave jobs for jobless people. I didnt cash out money yet, but I am aware of that problem. I think it is the same for many countries and they have to use one 3rd party sites. Some weeks ago I read a post written by @jerrybanfield about developing an app, so that we dont need to go through a 3rd party site. We really need such an app or a Steemit related site, where we can transfer the money directly to our bank accounts instead of buying Bitcoin and going through a long process.

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rob chen 50px.png Yes Steemit is creating opportunities all around the globe. It's amazing to be part of the beginning of this revolutionary change.

@Yensesa is working hard to provide a site for you to transfer money directly to your bank accs. Their website is https://yensesa.com

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Will check it out. Thank you :)

This is a great project and shows that development cooperation and crypto can be a good combination. I hope some goverments can adapt crypto and development cooperation solutions in the near future.

Walk the talk. @hyperfundit

Just to add: The fees some over sea workers worldwide have to pay for money transfers back home are really inappropriate. Fortunatly solutions show up and Start-Ups in the financial sector are working on it. Is @Yensesa a registered non-profit ?

Following you from now on, as I'm very familiar with the NGO and development cooperation sector. Your @seelc

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Thanks @seelc for your question. Yensesa is currently not an NGO, we don't see it becoming one but anything can happen down the line.

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rob chen 50px.png I too hope that government will see the positive effects of crypto and get behind it, but we can only keep our part while we wait

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Well I can try to keep you updated from an European perspective. @hyperfundit

Planning on writing about the use of block chain in these sectors.

@seelc

This is amazing, thank you for your amazing work :o)

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rob chen 50px.png You're welcome, thanks for reading my friend! :)

steemit is really changing lives here in Ghana. Am always proud i got to know something like this.

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rob chen 50px.png I'm so glad to hear that, Steemit can be revolutionary and I'm happy to be able to assist in the movement :)

This is awesome, thanks for letting me know about this project. I will look into it and see how I may be able to get involved or help in some way.

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rob chen 50px.png Yeah no problem! Thanks for reading :)

You can learn more about their initiative and even support their project on hyperfundit.com

This a really great project. I hope this can grow strong. I Upvoted this post.

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rob chen 50px.png I too wish Yensesa to keep growing and reach their goal! Thanks for the support! :)

An excellent real world example of the benefits of cryptocurrency helping to better the planet. Great work.

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rob chen 50px.png Yes the Yensesa team is doing marvels, cheers to their hard work and dedication!

People everywhere can work themselves for Steem and Crypto!

Great work! Crypto is very exciting for those in africa to gain independence and create a great life for themselves. Keep it up!

this is how the blockchain will change the world!!!!! My total respects to you and your team. Life will reward you with so much more my brother.

Regards!

That is great. Have you heard of the KesheFoundation and the work they are doing in Ghana?

Thanks for sharing and highlighting this wonderful project! I had not hear of this before, and now I am glad to know about it. I am from the US, but I have lived in Ghana, and a big part of why I am trying to build my SP is to make my upvote worth more, because I know that people in places like Ghana could really benefit from this cryptocurrency and platform.

this is a good post and i am very glad for seeing your post.

Upvoted! Thanks to the Lord our God for using people as an instrument to share His love for those who are in need. Thank you bro!

follow me steemit mate

wow your very very good this post excellent ,thanks for sharing .

Thanks..so much guys... this is a dream come true for we ghanaians...

We need more of this exchanger. Like what's happening to Ghana, we too are experiencing such dilema. In order to cashout are earnings here we need to use several exchangers and the transaction fee stacks up rather quickly. Fortunately, some Steemians like @surpassinggoogle is currently negotiating with the most popular remittance service and exchanger in my country to add steem and sbd to the list. Hopefully they will succeed.

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rob chen 50px.png Yes absolutely. I was shocked to learn about how much is lost in the process of exchanging in other countries.

Thankfully there are initiatives like @Yensesa who are doing something about the issue at hand. Hopefully @surpassinggoogle also succeeds in his negotiation

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@vegaron, which country are in? Trying to see if this is a country we can support in the very near future.

This is awesome. Good innovation

Exact the same in the Philippines.

Great work!

hola muchas gracias por la información! para nosotros los venezolanos también es de mucho beneficio publicar y ganar con steemit!

this is great! a solution for people suffering from hunger. people saying there's not enough money to help the poor ? bullshit, there hasnt been more money in the world then this moment right now. i love this concept!

This is great!

Absolutely amazing and uber inspiring, looking forward to helping and contributing where I can.