Company
Date Published
Author
David Anderson
Word count
1081
Language
English
Hacker News points
None

Summary

Rahat, a startup founded by Rumee Singh in 2020, focuses on improving financial inclusion in Nepal and beyond using blockchain technology and USDC, a digital dollar. With a background in engineering and journalism, Singh aims to leverage technology to address local challenges and provide humanitarian aid to underserved populations. Rahat's initiatives include immediate access to finance, digital and financial literacy, and building financial resilience by utilizing blockchain for fast aid delivery through smart contracts. These contracts use climate risk data to trigger automatic payouts to beneficiaries in low-tech environments via SMS and USSD, reaching 20,000 people across Nepal, Pakistan, and Indonesia. The startup's use of USDC offers cost-effective, transparent, and traceable financial services, which are critical for reducing corruption and enabling beneficiaries to store and spend money efficiently. Rahat's future plans include expanding into Asia and Africa to support over 500,000 beneficiaries and exploring products like microinsurance and savings to enhance financial resilience, all powered by blockchain and USDC.