Saturday February, 24th marked the 14th week that Dash donations have been enriching the freedoms and futures of humans in need. Looking back to our 11th video on February 3rd, we saw our households arrive at decentralized solution to greater economic enhancements for themselves. They have decided to establish their own ROSCA, a Rotating Savings and Credit Association. Savings club, tandas, partnerhand, cundinas, and tanomosiko are just a few names given to these clubs around the world. In Northern Ghana, it is called a Susu. The idea implements a verbal contract to practice rigorous saving collectively.
The beauty of this plan, is the natural blending of grassroots community work and decentralized trust. The association does not require any money beyond the regular donations that keep DashDirect alive and growing. In fact it uses funds already given and the trust of each participant to support one another. Each member is incentivized to do so because they see that their contribution to the network brings them a turn at a greater financial opportunity than their regular weekly income. Each woman also celebrates each of their DashDirect sisters’ successes. The boon that Susu brings is that of long term savings, paid in one lump sum, to each participant on a rotating basis.
The nuts and bolts of this form of finance are pretty straightforward, as seen above. They are able to use their basic income dash to make a large investment in their business or home with only a very minor impact to each members weekly budget.
We at DashDirect are very excited to follow this progress in our future videos. And of course, it wouldn’t be possible without the great people around the globe that make Dash the front runner in global payments, and a great community to be a part of!
By: Zachariah Knapp
I’m a volunteer who accepts Dash tips, thank you!