Hi, this is Charles Hoskinson again from warm, sunny Colorado. I forgot to do one thing. I decided I was going to start doing this at the end of all of my MAs and this is the first time. I was recently on a show and live in the show, the host of the show did a microfinance loan using a platform called Kiva. Now my hope is one day that Cardano can replace Kiva and institute a more global and universal system than what Kiva has accomplished and Kiva is a great organization, highly recommend it. But until we have a functioning peer-to-peer microfinance credit system on Cardano at the end of every AMA, we shall do a loan somewhere in the world. And many of you will ask, what is today's lucky customer? Well, let's find out, share a screen. There we go. And today's lucky winner is Magnania from Peru. He's a cacao farmer, 63 years old, has three children, ages 23, 21, 19. And for more than 17 years, he's been harvesting cacao, corn and fish. And he is requesting a loan through the Kiva network to purchase the inputs for fertilization of his crop, very common for smallholder farmers, so he can get a better product, higher yields and provide a better price to his customers. And so anyway, he also does some aquaculture, which is near and dear to my heart. And he's looking for a total loan of $1,125. The term of the loan is just 12 months, so basically the growing season. And hopefully he'll be able to service it. Proceed or not, let's go ahead and finish out this loan. He's only got $600 left to go. So let's do it. I think that's the total amount. And let's verify, one second. Not sure why I got $625, $600 in basket. Yeah, should have to proceed to check out. I guess we have to do the full amount, $625. There we go, total. There we go, okay. So I will stop the screen share for a moment to go ahead and go through the checkout process. Just verify you guys can't see me, good. Okay, and there we go. So that I'm not sharing a video file, we're doing a screen share. There we are. Thank you. And if you guys can see, his entire loan has been serviced. And you'll notice something, donation to Kiva, $93, despite the fact that that's probably a high interest loan of over 15% through the network of middlemen that they have to deal with. This not-for-profit still has to charge $93 to service just the connection of the loan and keep their operations going. And that gives you the tremendous cost of microfinance and why this is such a difficult prospect. And it's really unfortunate and it's really sad that the system is as it is. And this is actually one of the inspirations I had for the construction of Cardano. I care a lot about the developing world, as I mentioned, over and over and over again. But you know, these are people just like you and me, and they lost the geographic lottery and lives are very hard. The point of microfinance is to give them the resources they need to build up the ability to get to the next level and get growth. And he's incredibly lucky to have people floating around who can help him get this liquidity and connect me to him. I would have never known this person if not through Kiva. And because he's here, I do now. And I hope he can repay it, but if he doesn't, that's okay. More importantly, I want to build a system where it doesn't cost $93 for me to lend to him. And when he's paying interest, instead of going to 13 middlemen, it goes to me. Because if that's the case, many of you will do that. And if many of you do that, he can always get the credit that he needs to get to the next level. So, at the end of every MA, we will go region to region to region. This happened to be in South America, Peru is the lucky country. And if you actually click lend with Kiva, you'll notice that there's lots and lots of people all around the world. So on every AMA, you guys let me know, North America, Central America, South America, Africa, Eastern Europe, Middle East, Asia, and Oceania. Where would you like to go? And hopefully next time we can pick your region and we can find someone interesting who's in need of something. Could be something for the cows, could be something for the farms, could be an interesting business. This particular person, for example, in Indonesia, wants a loan of $2,700 to obtain 200 water filters to sell to his community. Jakarta has some of the worst water of any city. So check out Kiva. It's a great charity, it's a great organization. Billions of dollars have been lent throughout the years, some from me. Sometimes you win, sometimes you lose, but it's a tough business. And this is just an example of why Cardano exists and what we seek to do. We want to cut out the middleman, get rid of those $93 fees, and create a reality where all those who need something can get it and protect it, get us to the next level. Okay, now it's time to go to bed. Good night, everyone, and thank you so much. And every AMA will do a loan at the end of it. Cheers.
