Money Multiplier: more impact remittances and cash transfers
The money multiplier tool increases the impact of money in poor regions. The new technology reprograms money to circulate more often in the local economy: creating jobs and income.
Remittances: The project will focus on the money which migrants send to their families and increase the impact of that money. What if a small part of migrant remittances ($500 billion dollars per year), donor funds or aid money are channeled through the local economy with the aim to significantly work more for the poor? STRO’s target is to provide a $10,000 annual income to 120 million unemployed people. This will be achieved by increasing the impact of the flows of money that are already passing through poor communities.
State of the art mobile wallet innovations can make all that money (or part of it!) circulate at least two times extra in these poor economies, creating an enormous economic impact! This crowdfunding project will make that happen. Starting with small steps, but in time, providing over 120 million more families the opportunity to earn a medium-level income.