This come from a local community saving/stokvel, where the community meets every Sunday of the week to invest/save money for themselves with the option of being able to borrow money from the stokvel. but before the bookkeeper grants the loan he/she needs to check in ledger if you qualify for a certain amount of money so they lets say for example from Jan Till May you have saved R30 each week if we calculate R30 x 20 weeks = R600 so thats how much you qualify for however the limit is R1000 which means if lets say under your name you have 2 sub-names and in each you qualify for R600 so you can borrow R500 each on 2 names as long as it wont exceed the credit limit which is R1000. And when you return the money, you bring back with interest of 40% which goes straight to your savings account (full 100%), the interest is not divided according to community members.
What it does
Our platform helps people getting dai when they needed it at the time and they get too choose from different lenders which one they want to lend from and send their private key to the lender so that the dai can be transfer to there online wallet.
How we built it
For the look and feel we used the bootstrap framework, with the integration of solidity for smart contract, genache, truffle & meta mask for making transactions
Challenges we ran into
Accomplishments that we're proud of
What we learned
Solidty intergration, setting up genache & metamask