Bread Wiki
Savings circles are time-honored financial systems ==where community members pool their resources to help each other achieve financial goals. In this collaborative arrangement, participants contribute a fixed amount regularly to a communal fund, with each member taking turns to receive the full sum. Dating back centuries and practiced across diverse cultures worldwide==, these systems—known variously as tandas, susus, stokvels, or chit funds—embody financial inclusion at its most grassroots level.
These arrangements offer ==compelling advantages over traditional banking==: no interest payments, minimal paperwork, and flexible terms tailored to community needs. Beyond the financial benefits, savings circles create powerful social bonds, cultivate financial discipline, and provide emergency safety nets in communities where formal banking may be inaccessible or insufficient.
Whether you’re looking to fund a small business, manage household expenses, or save for a significant purchase, joining a savings circle offers a people-centered alternative to conventional financing—==combining mutual aid with practical economic empowerment==.
Savings Circles in the Age of Crypto
Bread Cooperative has revolutionized the centuries-old concept of savings circles by bringing them onto the blockchain. Our open-source Solidity smart contracts implement the ==core functionality of traditional savings circles== in a decentralized, transparent format accessible to anyone.
With Bread Cooperative’s smart contracts, members contribute cryptocurrency at predefined intervals, with each participant taking turns to receive the pooled funds. This digital implementation preserves the community-oriented essence of traditional savings circles while adding the benefits of blockchain technology: ==immutable records, automated distributions, and borderless participation.==
The system is elegantly simple: ==join a circle, contribute your agreed amount in crypto on schedule, and receive the full pool when your turn arrives==. There’s no middleman, no hidden fees, and complete transparency throughout the process.
https://github.com/BreadchainCoop/saving-circles
Check out our repo and feel free to use the contracts (MIT License) for your own front end application!
Names for Savings Circles Around the World 🌐
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- ROSCA (Rotating Savings and Credit Association) - general term
- Tanda - Latin America
- Chama - Swahili-speaking East Africa
- Kameti (کمیٹی) - Pakistan
- Visi (વિસિ) - among Gujaratis in India
- Equb/Ekub (እቁብ) - Ethiopia
- Partnerhand - West Indies
- Pardna/Pardner - West Indies
- Cundina - Mexico
- Hagbad - Somalia
- Stokvel - South Africa
- Susu/Osusu - West Africa and Caribbean
- Hui (會) - Chinese communities
- Hội/Hụi (會) - Vietnam
- Paluwagan - Philippines
- Gam’eya (جمعية) - Egypt
- Dart (دارت) - Morocco
- Gye (계/契) - South Korea
- Tanomoshiko (頼母子講) - Japan
- Mujin - pre-1945 Japan
- Wichin Gye - Korea
- Lamka - India
- Committee - India
- Chit fund - India
- Pandeiro - Brazil
- Cuchubál - Guatemala
- Junta - Peru
- Quiniela - Peru
- Pandero - Peru
- C.A.R. Țigănesc/Roata - Romania
- Arisan - Indonesia
- Lenshare (เล่นแชร์) - Thailand
- Dhukuti/Dhikuti (धुकुटी/ढिकुटी) - Nepal
- Gün - Turkey
- Ménage/Menodge - Scotland
- Seettuva - Sri Lanka
- Likelemba - Democratic Republic of the Congo
- Xitique - Mozambique
- Djanggi - Cameroon
- Sanduq (صندوق) - Sudan
- Lawm Sum - Zomi regions in Myanmar
- Kootu fund - Malaysia
- Cadena - Colombia