The Kenya Red Cross, a philanthropic association at the cutting edge in the battle against Covid-19 pandemic in Kenya, has actualized and is utilizing Sarafu, a blockchain-based network cash, to help give required versatile cash credit to low-pay neighborhoods in Kenya.
Sarafu is the brainchild of Grassroots Economics, an association pushing for selection of blockchain-based network comprehensive monetary standards (CICs), and has so far observed amazing outcomes in its take-up in key neighborhoods in Nairobi and Mombasa, the two biggest urban areas in Kenya.
A glance at the exchange volumes shows a lofty ascent in utilization of Sarafu when Kenya Red Cross began utilizing this network money to send the required money credits to those in need at some point in mid-April.
In a statement, the Kenya Red Cross said:
“Kenya Red Cross, Grassroots Economics and Danish Red Cross are implementing a block-chain backed, e-voucher community currency project in Mukuru Kayaba. Community members are registered and given a credit 400 token/Sarafu equal to Ksh 400 to buy and sell basic commodities.”
This initiative is part of a 2-year program to deploy blockchain-backed ‘local currencies’ to enable economic activity and spur trade in poor rural and slum communities in Kenya.
The program, in partnership with Grassroots Economics, is expected to reach over 320, 000 users. It will commence in Kenya and eventually get rolled out in Malawi, Myanmar, Zimbabwe, Cameroon, and Papua New Guinea in the next two years.
The above serves as an excellent blockchain use case that offers a transparent approach to funds distribution and usage in the middle of a crisis.