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Introduction

Protocol components

Protocol mechanics

Protocol implementation

Welcome to Growr!

The challenge to provide cost-efficient access to financial services to the unbanked population globally is well-researched. As of 2021, there are still 1.4 billion people worldwide that do not have an account. Most of these unbanked are self-employed, micro-entrepreneurs, and smallholder farmers with financing needs and without much collateral who easily fall prey to moneylenders. Traditionally, microfinance institutions have been serving the poor and unbanked population, especially in developing countries, through unsecured productive microcredit and micro-savings products. With the invention of Bitcoin, the world has witnessed the emergence of an open monetary network that has enabled an increasing number of financial use cases in a fully digital manner. Bitcoin and its second-layer Lightning network have emerged as a financial inclusion solution for unbanked communities. However, the Bitcoin ecosystem today does not offer unsecured microcredit due to the anonymous nature of its users who cannot assert their creditworthiness. Most of the so-called decentralized finance (DeFi) protocols serve advanced users, require over-collateralization, and their adoption is higher in developed markets and by institutional investors. We propose a protocol built on top of the Bitcoin network that addresses these challenges: it helps micro-entrepreneurs build their self-sovereign credit record and connects them to a global marketplace where they can get productive microcredit at a fair price, bringing real-world yield to decentralized finance in the process.

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If you are excited to know more about Growr, please, select a chapter from the left to continue your journey in Growr protocol documentation.