Inspiration
India received about US$135 billion in remittances in 2024–25, the most of any country. Sending money still costs around 6%, and one of the most common uses in Kerala is renovating houses and shops. Families abroad send money home for their parents' house, then can't see what happens to it. Once concrete covers bad steel, it can't be fixed. The problem starts after the transfer.
What it does
Homeward locks the money and pays it out one checked stage at a time:
- Siblings fund the build, with every fee shown up front, including Homeward's 1.5%.
- An independent engineer checks the steel before concrete is poured.
- The parent approves or asks for a second check, even from a basic phone. 71% of elders in India use one.
- One approval pays the builder, labour and engineer, and creates a stage certificate.
How we built it
Soroban smart contract on Stellar Testnet (contract ID: [CONTRACT ID]), with a Next.js app on top. Rupee payouts, Interac and SMS are simulated.
Challenges
Builders in India can't hold stablecoins, so a payout partner converts to rupees at the last step. The approval rules and the record stay on Stellar.
What's next
A real payout partner, engineer onboarding, and full Malayalam and Punjabi support.
