Digital divide
In an increasingly challenging world facing the fourth industrial revolution. We need solutions which do not attempt to solve some pieces of a puzzle but create a framework which leapfrogs the constraints of traditional economic systems. An affordable, secure digital identity on a device financed through unsecured loans with mechanisms to earn an income on the device itself, bridges the gap for a person who is yet to qualify for a bank account or a means to participate in the formal economy.
Transformative Informal Digital Economy
The digital transformation of the informal sector presents some challenges and risks, but it also has the potential to improve efficiency, productivity, and inclusion for informal businesses and workers. Synapser understands that the first step to the digital transformation of the informal economy is enabling access to technology and providing a space for the creation of a secure digital identity for informal businesses and workers.
The Transformative Informal Digital Economy Project (TIDE) is a technology toolkit that aims to provide informal traders and workers access to a technology-enabled ecosystem aimed at empowering the user in terms of access to financial resources, health, and wellness management, and data security.
Synapser offers a suite of niche products focused on optimising access to digital technology, services, data collection, analysis, and security. This innovative technology toolkit is designed to support and enable the progression of informal traders into the formal economy, addressing challenges faced in developing the informal economy.
Key Features
Technology-enabled ecosystem:
Project TIDE aims to create a technology-enabled ecosystem for informal traders that leverages digital technologies to empower informal traders by providing them with access to financial resources, health and wellness management, and data security.
Digital identity:
One of the primary focuses of Project TIDE is to enable the establishment of a secure digital identity for informal traders. Digital identity refers to unique information and data that identifies individuals or entities in the digital world.
Access to digital platforms:
Project TIDE aims to provide informal traders with access to digital platforms such as e-commerce marketplaces, online payment systems, and digital marketplaces. This access can help informal traders expand their customer base, increase sales and profits, and connect with new opportunities in the digital economy.
Revenue Generation:
The project includes an ‘Earn-Per-View’ digital content experience that enables users to earn revenue for watching content, such as commercial advertisements and public service announcements. Payments are credited to the user’s Synapser digital wallet and these credits can be used to pay for various services, such as device finance/insurance and healthcare.
Financial inclusion:
The project focuses on facilitating financial inclusion for informal traders by providing access to digital payment systems, mobile money, and digital wallets. These financial services can help informal traders move away from cash transactions, which can be unsafe and costly, and provide them with greater access to credit and financial services.
Key Features cont.
Training and education:
Project TIDE recognises the importance of improving the skills and knowledge of informal traders. It aims to provide access to information and training through digital technologies, such as online training programs and mobile apps. This training can help informal traders enhance their skills, improve their business practices, and increase their productivity.
Digital entrepreneurship:
The project supports the growth of digital entrepreneurship in the informal sector. Informal traders can leverage digital platforms to offer digital services to other businesses or individuals. For example, they can provide web design or social media marketing services. This promotes innovation, expands business opportunities, and contributes to economic growth.
Collaboration and networking:
Project TIDE aims to create digital networks and communities of informal traders. These networks provide opportunities for collaboration, learning, and support among informal traders. By fostering collaboration and networking, the project strengthens the informal sector, promotes knowledge sharing, and encourages collective growth.
Baseline data development:
The project recognises the importance of developing baseline data on the informal sector. By gathering accurate and reliable data, planners and policymakers can better understand the dynamics of the informal economy, track progress, and design effective programs and policies. Project TIDE aims to coordinate the development of baseline information to support planning and development initiatives.
