Mercedes Bidart, Co-Founder and CEO of tech nonprofit QUIPU, is revolutionizing local economies with the first digital marketplace for micro-businesses in informal settlements.
, where local trade is conducted in what’s considered an informal economy. These communities are flush with micro-businesses and $10 trillion worth of goods and services are transacted annually. Bidart, a city planner with a Masters from MIT, has become obsessed with using tech to bolster micro-businesses to foster community-led, economic development in low-income neighborhoods.
I started to study these communities and I noticed three critical things: 1. With limited access to cash, people in informal settlements develop their own trading systems based on trust and strong community ties. 2. Smartphone usage is growing in almost every community on the planet. 3. Solutions to tackle structural inequity work best when they come from people closest to the problem.
Let’s use one of our customers Julia as an example. Julia sells shoes in a neighborhood called Villas de San Pablo in Barranquilla, Colombia. She created a profile on, received a few starter tokens, and uploaded her products. After Julia joined QUIPU, her micro-business was visible on a neighborhood map and search engine. Julia can use quipus to buy empanadas from Daniris, who lives in the neighborhood. After each transaction, users can rate the products, sellers, and buyers.
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