SharEarn #5 : How SharEarn help Indonesia problems

Indonesia, as a developing country, faces numerous challenges, with one of the most significant being economic difficulties. For instance, in Indonesia, the age requirement to open a bank account is 17, meaning that individuals under this age cannot conduct transactions. Despite the presence of several E-wallets that offer account creation without an age requirement, they eventually request Know Your Customer (KYC) information, such as your ID card, creating additional hurdles.

Another pressing issue is the relatively high fees charged by financial platforms in Indonesia. Traditional banks still charge 2500 rupiah to 6000 rupiah for bank transfer transactions. Imagine the cumulative cost if one conducts multiple bank transfers in a day – it can quickly add up.

More recently, the Indonesian government introduced QRIS as a convenient payment method, but just a few months ago, they began charging a percentage-based fee when transactions exceed 100k rupiah.

Bitcoin, particularly the Lightning Network, holds great potential to address these challenges. However, its adoption faces barriers such as low awareness and fear among users.

Firstly, many people perceive Bitcoin as a scam due to misleading news in the media and a lack of understanding about blockchain technology.

Fortunately, various innovations are emerging to increase Bitcoin and Lightning Network adoption in Indonesia. However, these ideas are primarily geared towards those already familiar with Bitcoin.

One such innovation aims to facilitate the payment of bills (electricity, tokens, water) using Bitcoin Lightning. Unfamiliar users might wonder why they should convert their fiat currency to Bitcoin for bill payments.

"SharEarn" proposes an alternative approach to boost Bitcoin adoption in Indonesia. In the country, it's common for people to earn income by affiliating with a product, gaining incentives for promoting it. SharEarn sees this method as an ideal way to encourage Bitcoin adoption. Users can simply install a Bitcoin Lightning wallet on their phone, log in to the SharEarn platform, generate links for campaigns they wish to promote, and share these links on their social media. This straightforward process allows them to earn Bitcoin on the Lightning Network as a reward for assisting with campaigns, eliminating the need to convert their fiat currency.

Another challenge arises when individuals need to raise awareness about their products. While traditional approaches often involve paying influencers with substantial followings to promote their campaigns, this can be both expensive and ineffective. SharEarn offers a solution by enabling product or campaign owners to promote their offerings. Sharers may not have massive followings like influencers, but with a network of active sharers, the cumulative effect resembles word-of-mouth marketing and harnesses decentralized power. They can reward sharers based on the clicks they generate, ensuring a fair and cost-effective method.

This innovative approach is a novel concept in Indonesia, and we believe it holds the potential to address the country's challenges and drive increased Bitcoin adoption.