Giveth: Design a blockchain product for low-income populations facing financial emergencies.

[VictoQ]

Description 📃

Wealthy people have premium access to insurance and emergency funds. If anything unfortunate happens, they can buy their way out. What happens to populations of low socio-economic status? What is their recourse? Only forty-three percent of Americans can pay for an emergency expense of $1,000 or more from their savings accounts, leaving the majority of Americans in economic despair if a financial emergency occurs. Address and provide an alternative to the current predatory high-interest pay-day loans system in America, that in 2021 was a $33.5 billion industry that roughly 12 million Americans use annually. This bounty will be awarded to the project that would be the most likely to give access to resources for emergency aid to the most low income individuals or communities. Emergency aid is defined as financial resources in the case of natural disaster, personal misfortunes, acts of war or racial/social/cultural injustice.

Acceptance Criteria 🏁

• Implements a mechanism to verify or gain consensus for claims.
• Project can scale and sustain itself Nice to have
• If your design is transferable to other regions of the world outside of the US.
• Each entity, including beneficiaries can play an active role in improving the system over time.
• Doesn’t rely on nonprofit/donation models.

Reward Pool 💸

USDC 1000