Overview
ThriftChain is a blockchain-based financial management tool designed to facilitate individual savings, and group-based savings activities. The platform allows users to save and contribute towards financial goals using stablecoins, with customizable saving frequencies. By leveraging the transparency and security of blockchain technology, ThriftChain empowers users to achieve their financial goals through disciplined savings, financial planning and collaborative efforts. The platform offers different saving modules:
- Individual Savings: Users can save towards personal goals independently.
- Known Group Savings: Users can create groups with known members, pool funds, and optionally enable lending and borrowing within the group.
Objectives and Goals
- Primary Objective: To provide a decentralized platform where individuals and groups can save and contribute towards financial goals using stablecoins.
- Secondary Objective: To promote financial discipline and goal-oriented savings through regular contributions.
- Goals: Facilitate individual savings for personal financial goals.
- Enable group-based savings
Problem Statement
Many individuals and groups struggle to save money effectively and collaboratively towards financial goals. Traditional financial systems often present barriers such as trust related issue and insecure means to collective savings, lending, and borrowing. ThriftChain addresses these challenges by providing a secure, transparent, and efficient platform for individuals and groups to pool resources, set financial goals, and access loans within trusted networks.
Target Audience
- Individuals: Seeking to save for personal goals, participate in group savings, and potentially access loans within their trusted circles.
- Groups: Friends, families, or communities looking to pool resources for shared objectives, such as purchasing assets or supporting community projects.