The problem SwayamSewak solves

SwayamSewak solves the problem of financial exclusion and lack of access to credit faced by many individuals, especially those from low-income backgrounds or without sufficient collateral to obtain loans from traditional financial institutions. It provides a platform for individuals to come together and form self-help groups (SHGs) to support each other towards achieving their financial goals.

Through SwayamSewak, individuals can easily form or join SHGs in a secure and decentralized environment, where they can pool their resources and lend to each other without the need for collateral. The platform also allows members to request small loans from the SHG's balance, which are then approved by a group vote.

By providing access to financial support from a community of trusted peers, SwayamSewak empowers individuals to overcome the limitations of traditional financial systems and achieve their financial aspirations. It fosters a sense of collaboration and mutual support among its members, creating a more inclusive and empowering financial ecosystem.

SwayamSewak has the following features :

1. Anyone can create a SHG with specific use-case
2. Others can select an SHG to become a member
3. SHG members can deposit tokens monthly on their dashboard
4. Any member can ask for small loans without collateral
5. All the members will vote and decide whether to lend or not
6. Easy process for loan repayment

Challenges we ran into

1. We encountered difficulties when writing the smart contract on SmartPy, as the documentation available was not entirely updated to our specific use case. Fortunately, we were able to reach out to the Tezos team for support, and they were incredibly helpful in guiding us towards a resolution.

2. As this was our first time using the Tezos chain, which presented some learning curve as we adapted to the new technology. Nonetheless, we were able to overcome this hurdle through diligent research and collaboration.

3. Beacon wallet docs were a bit unclear so we had a hard time implementing it and calling the contract functions.

4. As students, we had exams to contend with during the development process, which created a shortage of time for us. To address this, we developed a robust project management system that allowed us to allocate our time more efficiently and ensure that we met our deadlines.