RaiseSats

Global remittances are complex, expensive, and time-consuming, with traditional financial institutions often charging high fees and taking days to process transactions. This creates a significant barrier for people who depend on remittances to support their families and communities. With over $180B+ in remittances sent to places such as the Philippines, Nigeria, Mexico, India, Venezuela, Pakistan, Bangladesh, Ghana, Kenya, and Colombia, these places are also high in Bitcoin adoption. Bitcoin is a digital currency that has no borders and can be used anywhere in the world. Bitcoin can help with these transactions by providing a decentralized digital currency that can be easily transferred across borders without the use of intermediaries or currency exchanges. The current process for remittance is cumbersome. Bank transfers typically take 2–5 business days to reach the recipient's account. Money is typically transferred in 1-3 business days using online remittance services such as TransferWise, WorldRemit, or Xoom. Bank transfers can be relatively inexpensive, with some banks charging a flat fee of $25 or less per transfer, but a high foreign exchange markup may be charged. Online remittance services are typically more expensive, with fees ranging from 1–3% of the transfer amount. In addition to the costs listed above, there may be additional fees or charges for items such as currency conversions or intermediary bank fees. When compared to traditional payment methods, such as bank transfers or wire transfers, which can be costly for cross-border transactions, Bitcoin transactions typically have lower transaction fees. Individuals may be able to send or receive money across borders more affordably as a result of this, whether through remittances or crowdfunding. Bitcoin transactions can be completed in minutes, as opposed to traditional payment methods such as bank transfers, which can take days or even weeks to complete. When compared to traditional payment methods, Bitcoin transactions typically have lower transaction fees. Bitcoin is a decentralized and transparent system based on the blockchain, meaning that people who support campaigns through RaiseSats will be able to track their contributions in real time and see exactly where their money is going  due to Bitcoin's public ledger. Through RaiseSats, remittances turn into global crowdfunding campaigns that can be leveraged by using known contacts in a smartphone which increases success rates of campaigns and reduces the possibility of scams. Bitcoin can also be easily converted into local currency using Bitcoin exchanges or ATMs, making it easier for people to access their funds. Bitcoin can be used in the remittances industry to provide faster, more affordable, and more secure transfer options, which can help improve the overall experience. RaiseSats creates a frictionless experience for all users, whether from a first-world or third-world nation.

RaiseSats makes Bitcoin simple for everyone by using simple text. A person only needs a Bitcoin wallet to start sending money through mobile messaging or social posting. With automation that connects text inputs to our platform and high-powered APIs, RaiseSats serves as a bridge between ideas and funding through platforms such as WhatsApp and Twitter. 

RaiseSats is for anyone who needs to send or receive money globally, especially those who are looking for a faster, cheaper, and more secure alternative to traditional remittance services. To take this a step further, I have family in South Africa and I send Bitcoin to them rather than dealing with wires or ACH. 

First, Bitcoin offers a faster and cheaper alternative to traditional remittance services, which can be slow, expensive, and subject to high fees and exchange rates. Second, it provides a more secure way to transfer money, as transactions are verified by the Bitcoin network and recorded on a public ledger called the blockchain. Third, it offers greater financial freedom and accessibility, as users can send and receive money from anywhere in the world using just a smartphone and an internet connection. RaiseSats is well-positioned to capture a significant share of this market by leveraging the power of Bitcoin and NoCode development principles to create a seamless user experience.

As we launch RaiseSats, I know that this will personally enhance the lives of many around the world as it places control back into the hands of the people who need it most which we believe are the following: 

Freelancers + Remote Workers

SMBs

Bitcoin Enthusiasts

Migrant Workers

International Students

Expats

Travelers

Non-Profit Organizations

Overall, RaiseSats is designed to provide a valuable service to anyone who needs to transfer money across borders and is looking for a faster, cheaper, and cost-effective way to send and receive money globally. Its user-friendly interface makes it accessible to users of all skill levels. 

I came from humble beginnings as an African American man born in Milwaukee, once known as the most segregated city in the United States. I know what it's like to try to do business in America without a bank willing to approve you for an account. In addition, I have family in South Africa, and I send Bitcoin to ensure that they receive value as quickly as possible without the use of intermediaries, almost instantly. Sergio Gongora, my cofounder, is a Mexican native who lives in Yucatán and has a 10-year multi-entry visa to the United States. As a global, minority team, we have a front-row seat to everything that happens in the world of technology, remittance, and Bitcoin.

RaiseSats is a prototype due to the technical work that is being fine tuned. We are very close to launching RaiseSats as a full, mobile first product that the world access.

RaiseSats, through our Chrome extension that recently launched, has interest from people several countries. Once the mobile version of RaiseSats goes live, we anticipate the numbers to dramatically rise. We estimate going live for our mobile version during the week of May 15th. 

RaiseSats is beyond excited to be welcomed into an amazing network of organizations for the sake of learning from and supporting one another where alignment lies. Meeting with potential partners both inside and outside the United States through Solve's global network is paramount because we know the power of network effect. Solve will serve as an inflection point in the journey of making remittance easier through Bitcoin crowdfunding. 

RaiseSats leverages the power of Bitcoin and the popularity of WhatsApp to simplify remittances. Our platform enables users to easily send and receive Bitcoin in a peer-to-peer manner, eliminating the need for intermediaries and reducing fees. By using a familiar messaging platform, we make the process more accessible and user-friendly.

RaiseSats has the ability to significantly alter how people earn and raise money using bitcoin in five years. More individuals could benefit from having access to Bitcoin through RaiseSats, giving them more financial independence and inclusion. RaiseSats can assist in removing some of the obstacles that have kept people from taking part in the Bitcoin market by offering a straightforward and convenient way to earn Bitcoin. People and organizations can raise money for a number of charity causes far more effectively by utilizing RaiseSats' social campaign tool than they might by using more conventional methods. The impact of philanthropic contributions could be considerably increased as a result of this.

RaiseSats measures impact on user growth, fundraising success, economic empowerment, and user feedback.

RaiseSats aims to provide people with access to Bitcoin through a user-friendly and approachable platform. By providing people with a simple way to earn Bitcoin, RaiseSats hopes to increase awareness of the potential benefits of using Bitcoin and other digital financial instruments. Because more people can now earn and use Bitcoin thanks to RaiseSats, they will be more outspoken about its benefits and encourage its use as a tool for financial inclusion and empowerment. The social campaign tool from RaiseSats offers individuals and organizations a way to generate money for charitable causes, supporting important work and encouraging neighborly friendliness. 

RaiseSats is a fantastic illustration of how cutting-edge technology may be integrated to develop fresh and useful answers to pressing problems in the real world. RaiseSats is lowering entry barriers and widening access to crucial digital financial tools by utilizing the WhatsApp API, Bubble, and Bitcoin. To give users a quick and easy way to raise Bitcoin, RaiseSats uses the WhatsApp Business API. RaiseSats can connect with a large user base that might not have access to other digital or mobile technologies by utilizing the WhatsApp platform. The Bubble platform, on which RaiseSats is based, enables quick development and deployment of online and mobile applications without the need for in-depth programming expertise. This has made it possible for the RaiseSats team to build and iterate on the platform more quickly, improving both its effectiveness and usability. Last but not least, the core of RaiseSats is the utilization of Bitcoin as a vehicle of value creation and transfer. Bitcoin is a ground-breaking cryptocurrency that makes international transactions quick, secure, and decentralized without the use of middlemen like banks.

We are a diverse team, therefore, we value diversity. 

Upon the launch of RaiseSats, we aim to amplify the network effect found within WhatsApp by offering the opportunity for anyone to do a boost to campaigns in the time variables of one day, one week, one month. The boosts would be how RaiseSats make money. Another way that we could make money is through a membership pass that is allows for the customer to always have a boost on their campaign as well as access to new features prior to them being publicly accessible. This would be an annual subscription. 

RaiseSats is introducing "Boosts" to promote campaigns made on our platform. Boosts will be available at daily, weekly, monthly, and yearly payments which would be subscriptions. Also, we provide a way for people to purchase Bitcoin which gives us a 0.5% fee when people buy or sell Bitcoin. 

We have received grants from the Stacks Foundation and the Filecoin Foundation to the tune of $165,000 as of last year. We have bootstrapped to this point and now, we are looking for others.