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Web3 Stokvel Solution - Coggle Diagram
Web3 Stokvel Solution
Objectives
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Leverage Web3 technology for transparency, functionality, controls, security, and efficiency.
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Core Functionalities
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Tokenized Deposits
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Store tokens in members' Web3 wallets, Accessing by UI
Interest Payout
Automate interest allocation to Sharenet, Redefine, and members through smart contracts (Rules Engine (Solidity))
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Reporting
Provide data on member contributions, interest earned, and purchase transactions.
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Operational Details
Admin Portal -Developed by Nedbank for stokvel administrators.Backend Systems - Web3 operations backend for monitoring and anomaly investigation.Compliance Requirements-Due diligence checks during onboarding.Maintenance and Support-Ongoing monitoring by Web3 operations team.
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