hiveonline is a progressive web application (PWA) that runs on any browser enabled device (Android, iOS, Feature+ Phone, KaiOS) with SMS integration for simple feature phones. It is built on Blockchain technology designed to automate transactions of Savings Groups, thereby improving record-keeping accuracy, transparency, and accountability. Built around the role of the group record-keeper, the application allows the record-keeper to record transactions – such as savings deposits, social fund contributions, loan disbursements and repayments, and fines –seamlesslyand in a fraction of the time of manual record keeping. As these transactions are recorded on the blockchain, Savings Groups and individual members build reputation and creditworthiness. Any group member with access to a feature phone can view her financial information at any time.
The current version of the application has been designed for the specific needs of users in Niger as a PWA that accommodates low bandwidth, enables localized caching of key data, and updates automatically when connected to the internet. It has also been designed to keep data charges low, a key factor for sustained usage in low-income areas. Theapplication has built-in flexibility to accommodate for different group rules, structures, and preferences of facilitating agencies and group members.
While the current offering is strictly a digital accounting application for reliable and transparent record-keeping, hiveonline will soon feature digital financing and digital commerce capabilities.It will support a group wallet feature to enable users to digitally transact at every meeting, thereby decreasing dependence on cash and facilitating access to loans from third party lenders, while creating a credit history forindividual users. Financial institutions will be able to receive KYC metrics and credit assessments to facilitate loan provision.Hiveonline is also digitizing community commercial systems for cooperatives and farmers’ associations, giving groups the opportunity to expand community businesses, diversify livelihoods, and bolster their resilience through access to capital.
Piloted in Niger with about 2,000 active members, hiveonline is expanding into Mozambique in partnership with the Association of Mozambican Cooperatives (AMPCM) and Norges Vel. Future expansion is planned for Honduras and Nigeria.