Looking Back at 40,000 Blockchain Transactions

July 12, 2019

So far, after roughly 6 months of piloting we've witnessed 40,000 blockchain transactions! So what does that actually mean?

 

4,065 Kenyans representing families living below the poverty line have traded 3,263,081 Kenyan Shillings worth of goods and services (about 30,000 USD) with each other - ensuring more stable trade than with the often scarce Kenyan Shillings. Using their community currencies, like Miyani-Pesa on the Sarafu network, people have supported themselves and bought from each other:

  • 2,567 daily farming wages have been paid

  • 54,928 servings of vegetables

  • 5,361 kilos of flour

  • 2,506 rides on local transport

  • 843 school tuition payments

  • 484,404 liters of water

  • 59 visits to the doctor

*Note these are general services and products among categories of vendors - many more are being traded.

 

(Chart shows enrollment in our pilot programs. Each user is given, free of charge, 400 Community Currency Tokens with which to trade.)

 

Most if not at all of these purchases would not have happened otherwise. We're encouraged by community members embracing community currencies to access resources that would otherwise go underutilized, and taking the opportunity to save their valuable Kenyan Shillings. This translates to children staying in school, families being better nourished, workers earning a reliable income, and so much more.

 

What are we looking forward to:

  • Open source code and systems that allow any community to create their own medium of exchange to supplement scarce national currencies and create resilient markets.

  • Voting systems to help communities manage their currencies, raise local taxes and support social services.

  • Connection to stable tokens that allow people to support community currencies that build thriving economies as a new form of Cash Transfer Programming.

  • Responding to the worldwide refugee crisis through Refugee Inclusive Community Currencies that help regions develop credit and employ refugees.

  • Working with internal savings and loaning women's groups, which are key hubs in the community.

What we need to get there:

  • Developers to build an open and full stack solution.

  • Supporters and partners to help fund these solutions and spread the information through online courses and resource centers.

  • Researchers to analyse data to improve our systems and help spread these concepts.

  • Volunteers to work in Kenyan communities to explain and expand on these programs.

Community currencies are well-named, in that it takes an entire network of people to make them work. Our thanks go to the community members, ambassadors, volunteers, staff, supporters, and partners who have contributed their time and belief to get us to 40,000 transactions. If you'd like to get involved reach out to us. Here's to the next 40,000 - 80,000 - 100,000!

 

 

 

 

 

 

Please reload

Our Recent Posts

Banking on the SILC Road

September 11, 2019

The people behind the transactions: a peek into the data of Kenya's most active Community Currency

August 29, 2019

Red Cross' Impact Continues Post Cash

August 10, 2019

1/1
Please reload

Tags

Please reload