They discussed their dreams of creating a business and returning to help their countries. Zuñiga and Cruz met on a campus bus on a Walton Scholars trip to Walmart. Monity’s collaboration began the week they first arrived in Arkansas. The total in transfer fees he had paid over the years seemed staggering, and that revelation planted the seed for Monity. It contained a record of his wages and of all the money he had transferred from his remote employment location back to his family. CEO Michael Cruz established the need by describing a ledger his father had shared with him. We were impressed with their quiet commitment.
We remember the first meeting of last year’s Arkansas Governor’s Cup business plan competition teams, at which students explained their ideas to faculty and answered questions about the viability of their business model.Īt a corner table sat four Latin American students, intently explaining their vision for a blockchain-based money transfer system for the developing world, where millions of foreign workers pay high fees to send money to unbanked families across national borders. Recently, computer science major Pedro Navarrete from Nicaragua came aboard to assist with web development.
#See though monity software
The founding members of Monity are computer engineering major Michael Cruz of Belize, international business major Roxana Escobar of El Salvador, management information systems major Andres Rojas of Costa Rica, and software development major Jhoel Zuñiga of Costa Rica. L-R: Zuniga, Navarrete, Cruz, Rojas, and Escobar and faculty member Jon Woodįintech startup Monity is the embodiment of the Walton Scholarship vision: Combining the foundation’s investment in educational opportunity with hard work and persistence, Walton Scholars are charged to return home with a vision to make meaningful contributions to the region.
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