Supporting Supply Chains in Crisis

Updated: Apr 19, 2020

In the last few weeks we have seen the largest usage of community currencies we have ever, reaching near 7k USD traded daily among thousands of people living below the poverty line in rural villages and urban settlements. We are proud to be part of supporting and spreading these open source solutions as far as possible.

Check out the Community Inclusion Currency (CIC) Dashboard build by an amazing team at Accenture for even more data views and also see our research page.

In 30 days we have seen that by injecting a medium of exchange in the form of CICs nearly 100,000 USD have been traded (with over 1,600 daily transactions on the xDAI blockchain) among vulnerable communities at a cost of 8k USD in National Currency - this is roughly 12x the impact of typical donor funds and we expect to see it grow.

CIC pilots - Nairobi, Mombasa, Kwale and Kilifi
Total CICs distributed ( and in circulation): 	6,369,254 
        (Kenyan Shillings equivalent)
Total Recipients (All time): 			14,756 
        (each receive roughly 400 CICs + weekly support)

CIC totals:
New Recipients (30 Days): 	3,283
New Recipients (7 Days): 	1,273
Trade volume (30 days): 	9,544,439
Trade volume (7 days): 	        2,861,829
Active Users (30 days): 	5,981
Transactions (30 days): 	22,082
Mpesa distributed (30 days): 	830,915 Ksh

Anyone with a sim card can be a CIC recipient of an initial 400 tokens which can be used with other users and supporting businesses. Users receive addition CICs daily based on their usage. Savings groups receive donations in Mpesa (national currency) based on their CIC usage.

CIC circulation keeps supply chains running so that communities can do as much as possible to support each other when there is not enough money, food, soap, water and so on.

CIC totals: (Mukuru, Kayaba) Mukuru is one of the largest informal settlements in Nairobi and where the Red Cross have taken a leading role in pilotting CICs.

CICs in circulation (Mukuru):           340,426
Total Recipients (Mukuru): 		762
New Recipients (30 Days) (Mukuru): 	398
Trade volume (30 days)	(Mukuru):       1,669,884
Active Users (30 days) (Mukuru): 	477
Transactions (30 days) (Mukuru):	3,461
Mpesa distributed (30 days) (Mukuru):  109,814 Ksh

Mukuru Trade Volume by category (30 days):
Food/Water:	    669,981
Shop:		    504,720
Savings Group:      328,761
Farming/Labour:     129,791
Education:	    18,650
Fuel/Energy:	    12,085
Transport:	    8,630
Environment:	    6,700
Health:		    2,220

We are so thankful to all the people and teams working on Community Inclusion Currencies:

Red Cross: Implementation and scaling

Commons Stack: Guidance

BlockScience: Modeling

Bancor: Open source blockchain contracts

Accenture: Dashboarding

Sempo: Open source trading platform

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