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By Convexity Humanitarian Aid Transfer Solution (CHATS)
CHATS offers blockchain-based cash and voucher solutions to improve programs by MercyCorps, UNICEF and other iNGOs partners and donors to ensure transparent, secure, and efficient aid distribution.
The SCF Build Award will fund crucial developments to expand and improve the CHATS platform using Stellar’s blockchain infrastructure. Relevant improvements include:-
1. Integration of Stellar Payment Rails Stellar’s payment rails will facilitate real-time cross-border and local payments, enabling CHATS to seamlessly support multi-currency disbursements. Stellar's infrastructure will ensure transactions happen securely and efficiently, minimising volatility and currency conversion issues.
2. Migration of Reserve Assets to Stellar USDC Migrating CHATS’ digital assets reserve assets to Stellar USDC will help stabilise value during aid disbursements, enabling more transparent tracking of funds. This would allow for the quick redemption of funds by vendors and aid recipients.
3. Offline Payment Integration (USSD/SMS) Using Stellar’s payment infrastructure, we will improve CHATS’ offline payment functionalities via USSD and SMS, ensuring transactions are recorded securely and uploaded once beneficiaries access the internet, resulting in secure settlement even in remote areas without internet access.
4. Cash for Work Feature Upgrade Stellar's transparency and tokenization will improve CHATS conditional cash transfers for Cash-for-Work programs. Stellar’s advanced smart contract functionality will improve real-time validation and disbursement of funds, ensuring that only eligible recipients receive aid.
Impact on CHATS - Stellar's infrastructure will enable CHATS to handle more transactions at lesser costs and improve its cross-border aid distribution efficiency. - The integration of Stellar UDSC will improve the speed and security of aid disbursements. - Offline capabilities and multi-currency support will ensure that CHATS reaches more beneficiaries, especially in remote, underserved areas.
Yes
$89.5K
The pilot promotes and facilitates the implementation of the USAID Nafoore Activity’s Youth Fund entrepreneurship and economic empowerment activities
This blockchain-enabled funding model and solution is scaled and replicated in other regions or sectors of intervention of the USAID Nafoore Activity
Short-term Objective (6 months)
The pilot grant will develop a sustainability and scalability strategy by linking its CVA delivery mechanisms to new interventions under the USAID Nafoore Activity – Nafoore (“added value” in the Fulani language) is a $17m USAID-funded violent extremism prevention program, rooted in positive youth development. The project is led by Mercy Corps Mauritania. By leveraging blockchain, the pilot will create a more inclusive financial ecosystem that empowers youth to access the seed capital needed to start small businesses and social projects. CHATS can first build trust across institutional stakeholders of the program by ensuring that funds are tracked and used for their intended purpose. CHATS automates the release of funds based on predefined conditions, such as the completion and approval of a business plan, project milestones, business performance metrics; or in the case of an apprenticeship scheme: timesheets. This ensures funds are used as intended, fostering accountability among young entrepreneurs. Additionally, if the program requires a procurement process, CHATS ensures that preferred vendors are being used by program participants, by managing the transactions between vendors and recipients.
Mid-Term objectives (5 - 18 months)
Pursue program implementation in collaboration with:
Refinement of CHATS Application Suite Documented Software Architecture Update, Updated Product Requirement documentation, Updated Users Dashboards (NGO, Donor, Field Agent, Beneficiary, Vendor) with outlined features and Stellar Blockchain Integration. 16 Weeks $60,000.00
Features
Security Check & Validation Beta testers are able to create accounts, complete KYC, fund projects/accounts and run projects on the platform using the test environment. They can invite donors and donors fund projects with the USDC token on Stellar Blockchain network and donors are able to view and monitor the projects in real time. 8 Weeks $24,500.00
Activities
Migration to Live Environment Beta testers are able to create accounts, complete KYC, fund projects/accounts and run projects on the platform using the live environment. They can invite donors and donors fund projects with the USDC token on Stellar Blockchain network and donors are able to view and monitor the projects in real time. 4 Weeks $5,000
Convexity Technologies is a Nigerian-based web3 solutions company known for leveraging blockchain to enhance transparency, especially in humanitarian aid and financial transactions. Founded by Adedeji Owonibi and Charles Okaformbah in 2021, Convexity has since gained some global recognition for its solutions, including CHATS.
We currently are thirty three (33) full time team members, including a Certified Enterprise Architect, Certified Cloud Engineers, Chartered Accountants (CNA; ACA), Certified Fraud Examiners (CFE), Certified Cryptocurrency Compliance Specialists (CCS), Lawyers (B.L; LL.B), and Senior Forensics Consultants. Our team members have contributed to various global initiatives such as the Digital Euro Association, KYC/AML/CFT Working Group, Global Digital Finance, SEC's Virtual Assets & Fintech Regulatory Framework Drafting Committee and The Director of Investigations and Compliance for the Cryptographic Development Initiative of Nigeria (CDIN).
Some projects we’ve built include:
Convexity Humanitarian Aid Transfer Solution (CHATS)
Sandy Om'iniabohs
No other submissions.