Breakchains With Blockchain

In Egypt, under Article No 341, defaulting on a loan is a criminal act that carries a prison sentence. Every year tens ofthousands of women are sent to prison for defaulting on loans borrowed for a few hundred dollars. The punishment is severe to deter people from taking loans. However, many of women who borrow money are desperate,because they need to pay for life-saving surgeries, family emergencies, to buy medicine, or start a business. Even worse, there are loan officers who prey on these women, getting them to sign contracts they don’t understand or even fraudulently claiming that the installments have never been paid.