Description
Bloinx is a decentralized savings application developed by BX Smart Labs that digitizes traditional rotating savings and credit associations (ROSCAs), letting a group of up to six participants create a 'round' with a fixed contribution amount and schedule, register guests, make biweekly payments, and withdraw funds in turn — all managed transparently via smart contracts and verified on-chain, with payments made in stable coins to avoid crypto volatility. Users who pay on time can earn BLX tokens, and the platform is currently in an Alpha testing phase on testnet with fictitious funds to gather usability feedback before a full launch. BX Smart Labs, the team behind Bloinx, has also worked on a related initiative called Hesafin, digitizing community savings groups in Burundi. The company has participated in and won recognition from several accelerator and hackathon programs, including Creative Destruction Lab Toronto, Celo Camp Batch 3, Encode Avalanche Club, Finastra's Hack to the Future 3, and the Entrepreneurship World Cup Mexico, and has been nominated for Blockchain for Humanity Awards. Its focus is on underbanked and unbanked individuals and communities worldwide seeking a secure, self-managed way to participate in collaborative savings circles.