Often times low-income and underbanked people are overlooked by traditional tech innovation. This is especially true for people that receive Food Stamps or Cash Aid (EBT Food & EBT Cash). Families living on Food Stamps struggle to do many things that we find normal. They can not shop online, they can easily transfer funds, and saving money is difficult because they do not have a savings account. 54 Million Americans live month to month on Food Stamps and they do not have access to traditional banking options. It is hard for them to save money because they do not have online budgeting tools nor do they even have a Savings Account. That is why we decided to create an easy 1-click FB sign-up Stable Coin Savings Account. By giving people the technology and tools needed to make better financial decisions we believe that they can save, budget, spend, and invest more effectively their EBT Cash Aid.
We believe that access to healthy food and basic financial services are a human right.
We will be a democratizing force in the world helping create a fairer and more transparent financial system.
We believe that low-income user should be the first in line to use cutting edge financial technologies to improve their lives.
What it does
Savings Account for people on Food Stamps. 1-click FB sign-up and Stable Coin account creation using Aikon ORE ID
How I built it
Built on top of the Facebook Account Kit, React Native, Aikon API
Challenges I ran into
Time constraint and Team building
Accomplishments that I'm proud of
Focused on end goals and not distracted
What I learned
Facebook Account Kit, Aikon API, React Native, Instagram Log-in, HR and Team Building
What's next for EBT Cash App
Launch with live users and see how they begin to save. Create auto-saving feature that allows the user to round up purchases to start saving.
Relevant SDG this project is addressing
SDG 8: Promoting sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
SDG 8.10.2 Proportion of adults (15 years and older) with an account at a bank or other financial institution or with a mobile-money-service provider
Particularly on strengthening the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all (target 8.10).