# [[Satchel]] *Satchel leverages a crowdfunding framework to bank underbanked communities that may lack access to stable financial climates, but have access to the internet.* ## General - Developed by [[Blockchain at Berkeley]] in partnership with [[UNICEF]] - [[Darya Kaviani|Darya]] is CEO and cofounder - Mostly by @yodashiv within Blockchain at Berkeley, whoever that is - Github: https://github.com/BerkeleyBlockchain/satchel ## [[GitHub]] README ### Technical Architecture - React.js and web3 for the frontend - [[Compound]] as the the Ethereum-lending protocol to garner interest for users - Solidity for smart contracts - MetaMask for authentication ## [[UNICEF]] Article https://www.unicef.org/innovation/stories/generating-income-benefit-communities ### Usage example An example of how someone may use Satchel is provided below:  1. Parent of student at a school provides $100 USD to Satchel  2. Satchel lends out the $100 USD using the DeFi Service to earn between 3% and 5% per year on the principal amount  3. At the end of the year, the parent receives the earned income (e.g., 4% of $100 USD to provide the parent $4 USD)  4. The earned amount, $4 USD, is split 50/50 between the parent and the school  The team conducted design research to make the DeFi lending service and mobile application easy to use. The design of the application focused on the user experience. Through interviews with users from the regions in which the team hoped to deploy the application, along with academic professionals, the Blockchain at Berkeley team was able to create an intuitive application which enables users to invest as a community. ![[Pasted image 20220102041520.png]] ## Crypto Altruism Article https://www.cryptoaltruism.org/blog/satchel-using-defi-to-help-unbanked-communities-generate-income ## Thoughts - Built on [[Ethereum]]? Yikes. Fees of $20+ are cost-prohibitive