hiveonline's community finance platform vsla.online helps Savings Groups to grow their wealth and reputation beyond their local community through digitization of transactions and finances.
Members of VSLA groups can access their group finances on both feature and smartphones while building a financial reputation (an alternative credit score) from their meeting attendance, savings and loan payments. Data can be optionally shared with MFIs, banks or NGOs to access formal credit and support, including voucher assistance from 2021.
The vsla.online backend is powered by Stellar blockchain technology to provide secure, tamper-proof records for Savings Groups. The lightweight progressive web app front-end, designed and tested for least-developed communities, enables access on any connected device with a browser and is very tolerant of dropped signal and poor connectivity.
Alongside vsla.online, we are developing mycoop.online in Mozambique, supporting agricultural cooperatives; both will evolve from a digital accounting platform to a low-cost, regulated eMoney ecosystem, decoupling dependencies on expensive mobile money, to allow members to save, transact and borrow without the risks of cash.