Promoting Dash for Remittances to India: World’s largest Remittance Market Summary This project aims to build the use of Dash for Remittances to India through a structured outreach program involving Market Research & Analysis, Online education and Growth Marketing. It aims to present Dash as a better alternative to Bitcoin in the emerging crypto-remittances space in India. The Market India is the world’s largest Remittance market. With a 25 Million strong expatriate population, Indians send back $2800 every year on average, totalling $70 Billion USD every year. According to a World Bank study, the median cost of transferring money has remained nearly constant at 7.2%, making money transfer a $4-5B/yr market for transfer companies like MoneyGram and Western Union and Banks (via Wire Transfer). Recently, the Indian Government imposed an additional tax of 12.36% on remittance charges, making traditional remittances even more expensive to process. This makes the overall cost of sending money significantly higher than World Bank’s Sustainable development goal of 3%. For expatriate workers, losing money, earned in often challenging circumstances to money transfer companies is a travesty. However, they have little recourse or choice, given the lack of credible options and high adoption of existing methods. The Opportunity : A Glimpse of Times to Come With a population similar to the entire continent of Africa and rapid penetration of internet through low fee 4G Data plans, India is on the cusp of a mobile-first internet revolution. While money-transfer technology has remained stagnant, the growth of blockchain currencies has created an exciting alternate path for money transfer, leap-frogging existing channels. A small set of early adopters have taken to Crypto, mainly Bitcoin, to remit money. While it is difficult to quantify exact numbers, the money transfer industry is going through a wave of silent disruption. The procedure to remit money to India via Bitcoin is quite simple : Remitter buys Bitcoin with Local Fiat Remitter Sends Bitcoin to Receiver Receiver sells Bitcoin on Exchange / Localbitcoins and receives Indian Rupees Since retail prices for Bitcoin are 10-20% higher in India, every dollar sent also creates a net profit of 10-20% for the receiver, instead of a net loss of 8%. Overall, the gap between sending money through Bitcoin versus traditional channels can be between 18 to 28%. This significant arbitrage opportunity means that there is enough buffer to cover the high Bitcoin mining fees quite comfortably. Dash For Remittances to India While Bitcoin has a clear headstart in terms of awareness and adoption in India, it is an acknowledged fact that Dash is far better suited to facilitate Remittances than Bitcoin. Dash is instant, private and costs a negligible amount of money to send - features that are critical to Remittances, missing in Bitcoin. With exchanges in India beginning to integrate with Dash, there is an opportunity to promote the use of Dash to consumers for remittances and present Dash as a credible option to consumers and close the gap with Bitcoin. Project Execution : Remitdash.Com This Project has 3 major goals, the execution plan for each is explained in the following section : 1. Market Research & Analysis Out of the $70B sent by 25 Million expatriates to India each year, there are a large number of segments and corridors. The first part of this project aims to study the various segments in this market and understand early adopter groups better for targeting in the later part of this campaign. For Eg. The Middle East and North America are the top two remitting regional segments and the states of Punjab, Kerala are amongst the highest receivers of remittances. 2. Educational Video Content in English and Hindi (India’s main languages) We aim to create a simple to understand videos in both Hindi and English, explaining how Dash can be used for Remittances to new users. We aim to create two different versions of this video for users, walking users through the advantages of Dash and the process to make remittances. By having both English and Hindi voiceovers, we can reach out to a massive Indian audience. 3. Marketing & Public Relation Blitz To promote Dash as a alternative to Bitcoin for Remittances, we intend to target technically savvy users from segments identified via our project research. Some marketing channels we aim to utilize for this are: Google Adwords Facebook Ads Youtube Ads Building blockchain usage for the remittance industry is newsworthy development and an emerging use-case for crypto-currencies. We intend to generate awareness about Dash through targeted public relation activities through widely-read publications and online blogs. About Us : Supreet Raju is an education course designer, working at the intersection of Consumer Internet marketing and Learning Design. She is a Design graduate from the prestigious NIFT, New Delhi and a Gold Medalist from the 2010 batch, an honour accorded to the top student across 8 Centres of Excellence nationally. She specializes in marketing through developing educational programs for technology and helping new users understand things better through compact online learning. Budget Breakdown : Amount Requested: 48 Dash/Month for 3 Months (To be escrowed with Dash Core) FAQs Is it possible to buy and sell Dash in India? Yes, Dash can directly be traded for fiat(INR). More exchanges are likely on the way.