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Nowadays, average salary in Taiwan stays low. In 2015, the average Taiwanese monthly salary is $1,520 USD which is lower than Hong Kong, Japan, and South Korea. In addition, “ the average monthly gross remuneration in 2016 “ is less than the average in 2000 which was announced by Directorate General of Budget, Accounting and Statistics, Executive Yuan, R.O.C. From the above phenomenon, we can speculate that the population of working poor in Taiwan will become more and more, resulting in increasing demand for microfinance. The common way of financing is granting a loan from the bank (third party). Therefore, “credit” is created by a third party. Except for granting a loan from third party, lots of people borrow money from friends because of the lack of collateral or other reasons. Credit creation beyond friends is based on the trust of human society, so the trust of human society is also a part of credit creation.
In order to solve the plight of microfinance of Taiwanese working poor, we use blockchain, which doesn’t involve in third party, and combine a familiar microfinance way in Taiwan - Rotating Savings and Credit Association (ROSCA), changing the position of third party from main to auxiliary. Furthermore, we add human society simultaneously to create trust, establishing a more rigorous and more applicable microfinance services for working poor.
This research will use the Secondary Research method to explore the demands of off-banking microfinance, and use Systems Analysis and Design method to make suggestions how to build solutions on the blockchain. | en_US |