Our Mission
We believe everyone deserves access to fair credit. Alexander's journey from Somerset East to Silicon Valley taught him that technology alone isn't enough— you need to understand the human cost of financial exclusion.
Meet Alexander Schmitt
Mercator Fellow, serial entrepreneur, and the founder behind World Chain Nano-Credits. Alexander's unique journey from teaching in South African townships to building cutting-edge fintech solutions gives him unparalleled insight into both the human cost of financial exclusion and the technology needed to solve it.
The Origin of Our Mission
Somerset East, South Africa - 2010
Before AI and blockchain, before Mercator Fellowships and startup accelerators, there was Somerset East. This is where Alex first witnessed the human cost of financial exclusion.
Living in the township with a local family - welcomed and protected by the community
Graduation ceremony for his evening computer class at Johnson Nqonqoza School
Making friends with the neighborhood kids
"I lived in Somerset East township in a mud house with a local family - the only white person living there. Every morning I needed 10 extra minutes for my walk because people constantly stopped to talk. 'Hello my brother from another mother,' one teenager said."
The Daily Reality
Alex taught computer science, math, and English from 8:30 AM to 12:30 PM, then again from 1:30 PM to 5:30 PM. In the evenings, he ran adult computer classes, training people like Tom and Mcido to become teachers themselves.
He maintained all the school's computers, fixed network issues, and even taught advanced mathematics to Grade 12 students when their teacher left. But the technical work was just the surface.
The Human Cost
"These brilliant adult students - mostly women around 40 - were learning computers while caring for their daughters' children. They had incredible potential but were trapped by a system that excluded them."
Alex watched mothers choose between food and school fees, saw families destroyed by predatory lending, and witnessed the daily struggle of people with no access to fair financial services.
The breakthrough moment: During graduation ceremonies for his evening computer classes, Alex realized these weren't just students - they were entrepreneurs, mothers, and community leaders who needed technology AND financial inclusion to thrive.
The same exclusion destroying lives in Somerset East exists everywhere:in Maria's neighborhood, in Rosa's community, in millions of places worldwide. Fifteen years later, we're finally building the solution those families deserved.
The mission continues: Fifteen years of experience in technology, education, and community development now powers a production-ready solution that combines deep community understanding with cutting-edge blockchain technology.
🌍 From Somerset East to Global Impact: Same Mission, Bigger Scale
The Breakthrough: Poor Economics
Years after Somerset East, Alex discovered the book that would connect all the dots and inspire the solution.
Poor Economics
A Radical Rethinking of the Way to Fight Global Poverty
Abhijit V. Banerjee & Esther Duflo
🏆 Nobel Prize in Economics 2019
Financial Times & Goldman Sachs Business Book of the Year 2011
"I was reading Poor Economics and realized: blockchain already offers the technological solutions to break the poverty cycle. The problem isn't the technology - it's making it accessible and graspable for those who need it most."
The Connection Alex Made:
- ✓The Book's Finding: Small, evidence-based interventions can break poverty traps
- ✓The Technology: Blockchain enables transparent, low-cost financial services
- ✓The Missing Link: Making crypto accessible to people like Maria and the women from Somerset East
- →The Solution: Nano-credits that combine blockchain's efficiency with merchant-centric design
How We Applied Poor Economics Principles
Evidence-Based
Like Banerjee & Duflo, we test with real users. Our pilot in the Philippines proves the model with actual merchants and borrowers.
Small Changes, Big Effects
Not trying to solve all poverty - just one specific problem: access to tiny amounts of credit when you need it most.
Listen to the Poor
Merchants know their customers. Our system leverages local trust instead of distant credit scoring algorithms.
💡 The Insight: Blockchain isn't just for speculation. It's the infrastructure to deliver evidence-based, poverty-fighting financial services at scale.
Leadership & Expertise
Founder & CEO
Alexander Schmitt
Chief Executive Officer & Founder
Education: M.Sc. degrees from Shanghai Jiaotong University and KU Leuven
Fellowship: Mercator Fellow with focus on AI and blockchain applications
Mission: Built the world's first production-ready nano-credit platform after witnessing financial exclusion firsthand in South Africa
Expertise: Combines deep community understanding from teaching in South African townships with cutting-edge blockchain and AI technology to deliver financial inclusion at scale
Advisory Board
Benjamin Föckersperger
Serial Entrepreneur & Investor
Founder of Föckersperger Ventures, a Berlin-based incubator and accelerator fund. 15+ years building and scaling businesses including Coronatest.de (50+ locations, 300+ employees) and Jackpot.de. Deep expertise in fundraising, business development, and blockchain ventures.
Join Our Mission
Whether you're an investor, partner, or someone who believes in financial inclusion, we'd love to connect and explore how we can work together.