Proof of Usefulness Report

Payshiga

Analysis completed on 2/3/2026

+35
Proof of Usefulness Score
You're In Business

Payshiga (Shiga) addresses a high-value problem regarding cross-border payments and currency exchange for the African diaspora, a market with significant demand due to FX volatility. However, the project submission suffers from severe credibility issues, claiming 'most people have used my product' while external verification reveals fewer than 1,000 downloads on the Google Play Store. While the product is live and functional, it is in an extremely early stage with minimal verifiable traction compared to established competitors. The low score reflects the disparity between the submission's hyperbolic claims and the actual early-stage reality.

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Score Breakdown

Real World Utility+20.0
Audience Reach Impact+2.0
Technical Innovation+3.0
Evidence Of Traction+1.25
Market Timing Relevance+8.0
Functional Completeness+0.25
Subtotal+34.5
Usefulness Multiplierx1.01
Final Score+35

Project Details

Project URL
Description
Shiga is a Neobank for Migrants with a multi-currency wallet that allows users to send and receive money across Africa, the UK, the USA, and Europe. Shiga provides bank accounts and a virtual card accepted by over 10m merchants globally suitable for tuition fee payments, relocation costs payments, currency exchange, remittance, and remote salary earnings made easily on our one wallet solution.

Algorithm Insights

Market Position
Growing utility with room for optimization
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline