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Synergy, an open source DLT financial toolkit for Cooperatives
2020-11-22, 17:15–17:45 (Europe/Athens), Κύρια Αίθουσα Ομιλιών
Language: el

By utilizing the Quorum blockchain framework we developed an open-source financial toolkit for the Cooperative Community. It offers loyalty and micro-credit services and is accompanied by the Synergy Digital Wallet. The goal is to create a software stack that is modular and can be easily replicated by the Coop Community around the world.

Synergy is a financial Open Source toolkit for cooperatives based on a distributed ledger. It was developed by Sociality Coop and was funded by the NGI Ledger program. Synergy provides loyalty and micro-credit services to cooperatives using blockchain technology. This way we want to help the CoOp community overcome challenges such as lack of liquidity and investment capacity. Sociality, a CoOp itself, has experienced how these challenges limit the prospects of the Social & Solidarity Economy in Greece, which has grown as a response to the crisis. The system was co-designed by the CoOp community in Athens through meetings and workshops and operates using the Quorum open-source blockchain platform. Moreover, the system has its own Digital Wallet and implements privacy-by-design elements to ensure data privacy for the user. Our goal is to make the toolkit easily replicable and modular so the CoOp communities can recreate it in different cities and govern it in a community-based approach.

Sociality Cooperative is a eight member worker’s coop (SynErg) established in 2014 in Athens. Our main areas of activity are: Empowering Online Presence of organization and companies, Creating custom digital tools with a user-centered perspective, Participating in research projects as a partner for user research, prototype development, and online campaigning, Education over digital marketing and open source web development,

Through the years we have created over 150 websites, organized over 40 workshops, managed several online campaigns and participated in several european programs (Capsella, ppCITY, 100memories, eLaionas WebGIS, Ledger and others) and community initiatives, such as FairBnB, Colours of a Journey, European Coalition for the Right to Housing and the City. We have extensive expertise on creating digital tools for organizations which adhere to the specific organizational needs by using the latest technologies.

We are currently working on the Synergy project, a financial toolkit for CoOps operating on a distributed ledger financed by NGI Ledger Program. Throughout the year, we have worked with important organizations in Greece and abroad, including the National Library of Greece, the British Council in Athens, the Transform! Network in Vienna, several coops and private clients in Greece active in a wide range of sectors.