The Mann Deshi Foundation and the Algorand Foundation have announced the expansion of their blockchain-based credit scorecard pilot to increase access to formal credit for women entrepreneurs in India. The solution is being rolled out across Mann Deshi's network, reaching thousands of women with no formal credit score and limited access to documentation.
The new system leverages Algorand's secure and scalable blockchain to issue verified digital identities and alternative credit scores that can be used to access small business loans and financial services. The technology replaces physical, paper-based files—often lost or incomplete—with secure, verifiable records accessible via smartphone, even in rural areas. Before this rollout, physical files often accompanied women throughout a 12-plus-month application process, creating significant administrative burdens and limiting the number of applicants the Mann Deshi Foundation could support.
Now, a web3 custodial wallet integrated with India's trusted digital identity infrastructure and storage systems allows tokens representing verified documents to be shared with lending institutions. These tokens also help establish a woman's creditworthiness, creating a portable and privacy-compliant financial identity that can be updated over time.
Read the full announcement.
