Digital identity platform harnessing Blockchain and AI to transform access to social and financial services for the underserved
MLC Vanguard | Created by AID:Tech
Our Platform that Enables Fast & Instant Disbursements via Digital ID & Blockchain Technology. Low-income women receive a Digital Identity and with this Digital ID, a fixed cash amount is sent to the client for every night that she is hospitalized, regardless of the actual expenses incurred.
1,800,000 Lives Impacted
The innovation has been successfully launched in Uganda, Egypt, Morocco, Jordan and India (currently in pilot). Covered over 2 million lives, >50% women and paid over 120,000 claims.
Each deployment of the AID:Tech platform includes a dedicated set of Key Performance Indicators (KPIs). These include the use of a social impact toolkit, which we developed alongside Middlebury Institute of International Studies at Monterey - specifically to learn about outcomes around blockchain technology and digital identity. These are integral to understanding the expected results of the deployment, as well as metrics for ongoing measurement of performance. Whether this is for the number of users acquired or transactions completed.
We have built a social impact toolkit with our partners to measure the impact of the deployment of our technology. And we expect the distribution of digital identity to individuals with access to goods and services can positively impact households and wider communities. For instance, by providing an individual with access to entitlements such as social welfare or remittances means income and resources for the family. An opportunity to participate in social and financial activities can see community economic power increase – an outcome beyond the individual end-user.
The Innovation
Despite advances in technological development, there continues to be 1.1 billion people without any form of legal identity. Without legal identity, individuals are prohibited from accessing the wide range of services that enable positive development – socially and financially. For those who are receiving welfare and aid from institutions, each time an individual receives a payment, whether it is remittances, welfare, donations or aid, they are one-offs with little sustainable impact. There are also individuals with legal identity but no digital trail. Whilst they have access to social and financial services, they are not able to capture any data associated with their identity profiles. As end-users lose out, institutions also face challenging issues around efficiency and effectiveness. Governments, development bodies and disaster relief agencies face mounting demand amidst reduction in resources. Without access to reliable and regulatory compliant data, organisations struggle to find efficiency gains; whether it is to ensure that support is reaching those intended, or how best to targetedly allocate. A solution is necessary to enable end-users the opportunity to participate in the global digital economy; through affording institutional partners the ability to offer accessible channels and avenues.
To tackle these problems, we have created a proven global identity gateway with security and traceability. If Google created the search engine, we created a transparency engine. Through our customers (governments, banks and other institutions), the solution brings users access to the most important services including payments via digital identity using blockchain technology. Our solution has been tried and tested across multiple verticals globally. These include social welfare, remittances, e-health, disaster relief, donations and aid. The AID:Tech solution has been deployed in the US, Ireland, Singapore, Philippines, Serbia, Tanzania and Lebanon. With this specific innovation we will be delivering Microinsurance in partnership with Women's World Banking to more than 2 million women around the world, building on a solution called 'caregiver' which has already been deployed in more than 10 emerging markets.
Low-income women receive a Digital Identity. With this Digital ID, a fixed cash amount is sent to the client for every night that she is hospitalized, regardless of the actual expenses incurred. The product is simple and easy to understand. Claims money goes to the customer directly unlike other insurance which reimburse hospitals for part of the treatment costs. Caregiver is a complementary product meaning it can be used with other health insurance or social security schemes to which they are enrolled. This enables customers to use the extra cash to pay for other emergency expenses and maintain their consumption levels.
Implemented in
India, Serbia, Tanzania, Lebanon, Syria, Singapore, Philippines, Indonesia, US, Ireland
Get in touch
Grace Ma
About Aid:Tech
AID:Tech was founded in 2014 and is incorporated in Ireland, Singapore, UK and USA.
AID:Tech's platform brings transparency and traceability to the distributions of resources by Governments, NGOs, Corporates and charities.
At the core of the AID:Tech platform is digital identity; enabling blockchain applications to bring access and inclusion to the underserved.
In partnership with leading governmental bodies, NGOs, corporates and charities, AID:Tech’s blockchain technology enables accessible, seamless and transparent delivery of data and payments directly to end-users.
AID:Tech was the first company in the world to deliver international aid using blockchain technology in 2015.
