Airfox provides the unbanked and underserved in emerging markets with access to financial services and capital. This is made possible thanks to revolutionary blockchain technology that facilitates the transfer of mobile airtime and currency, payments for goods and services, and a peer-to-peer microlending program—all with minimal friction and fees.
Nominated for: Best Under-banked or Emerging Market Solution
Through the Airfox Android app, unbanked individuals in the developing world can easily access financial services and capital. Based on its proprietary user scoring algorithm, Airfox uses the borrower’s mobile profile to assess their risk profile. With this data, lenders in Airfox’s peer-to-peer microloan platform can lend AirTokens to borrowers through an Ethereum smart-contract. AirTokens can then be used to make purchases to upgrade a business or cover emergencies. With its smart financial solutions, Airfox offers a level of financing, security and reliability previously unachievable in the developing world.