kondwani on Nostr: How Bitcoin Empowers Village Banks Without Internet in Africa. Village banking is a ...
How Bitcoin Empowers Village Banks Without Internet in Africa.
Village banking is a microcredit methodology whereby financial services are administered locally rather than centralized in a formal bank.
Neighbors come together in Village Banking groups. Individuals borrow working capital for their microenterprises, and the group guarantees those loans. Village Banking also encourages neighbors to support each other while growing their businesses; these mutual support groups can help invigorate entire communities.
This is where Machankura Wallet becomes a solution in Africa. Machankura Clans give users the ability to send and receive funds collectively. If you're in Malawi, just dial: *384*8333*0265#, to create a wallet and select option '6' to create a clan or see clan invitations.
Sending funds requires approval from the members or admins. With the added option to proportionally distribute the balance to all members. This ensures transparency and cooperation among members. Each clan can have an approval policy for each action or spend on the clan.
The group name becomes the lightning address in the format: 'malawi@8333.mobi', to receive funds. You can also receive funds to your group wallet via your LNURL like: 'https://8333.mobi/malawi';.
Village banking is a microcredit methodology whereby financial services are administered locally rather than centralized in a formal bank.
Neighbors come together in Village Banking groups. Individuals borrow working capital for their microenterprises, and the group guarantees those loans. Village Banking also encourages neighbors to support each other while growing their businesses; these mutual support groups can help invigorate entire communities.
This is where Machankura Wallet becomes a solution in Africa. Machankura Clans give users the ability to send and receive funds collectively. If you're in Malawi, just dial: *384*8333*0265#, to create a wallet and select option '6' to create a clan or see clan invitations.
Sending funds requires approval from the members or admins. With the added option to proportionally distribute the balance to all members. This ensures transparency and cooperation among members. Each clan can have an approval policy for each action or spend on the clan.
The group name becomes the lightning address in the format: 'malawi@8333.mobi', to receive funds. You can also receive funds to your group wallet via your LNURL like: 'https://8333.mobi/malawi';.