In a world with many unexpected events, the importance of small lines of credit cannot be stressed enough. This is where the concept of microfinancing comes into play. Microfinance is the provision of small loans to underprivileged entrepreneurs and small businesses who often lack access to traditional banking services. Mintosa is a microfinance solution to this problem by providing a platform where lenders can connect with low income entrepreneurs, all protected with the power of blockchain technology.
We at Mintosa believe in incrementally adding key features step by step to the Smart Contract to make it as simple and concise as possible. In order to do so, first we drafted a short outline of the core functions we would need. After a couple of hours of analyzing our options debating, we settled on the following:
- Verify user
- Add loan
- Pay back loan (Part)
- Send from one user to another (Helper function, called by 2, 3 & 4)
- Calculate user rating
- Update user rating
We created an Interactive prototype in Figma and used Marvel to bring it to life!
You can check out the prototype at https://marvelapp.com/ed0036j