Socio-Economic Inclusion

Aid / Remittance Platform

Description

Sending money abroad has traditionally been an arduous and expensive task, exemplified by never-ending chains of middlemen, manual paperwork, and hidden charges. Blockchain removes multiple intermediaries that participate in traditional cross-border money transfers. Money is transferred directly via blockchain from Bank A to Bank B, eliminating the need to go through two other correspondent banks and reducing the time and cost of the transaction. Regulators, established financial institutions, and non-governmental organizations (NGOs) are turning toward blockchain technologies as promising tools for financial inclusion of the “unbanked” and “underserved,” and for the “formalization” of hitherto informal value transfers, such as remittances.

You’re required to build a platform that demonstrates the efficacy of the blockchain in eradicating middlemen and centralized systems in Remittance and Aid, allowing sending and receiving of money less expensive and fast. A platform where people and communities with special economical needs can expose their causes and projects that look forward to receiving help and donations from donors and benefactors.

The challenge in the ideation and implementation of social verification methods to register onchain that aid resources addressed to causes are used just as the community states and expects.

Guidelines

The Web Platform should be able to:

Send and receive payments

Allow people to upload causes and communities descriptions requesting for financial aid

Donors can help specific causes with crypto

Donor can help specific causes with fiat through on ramp solutions

People receiving aid should be submitted to a social validation process ensuring that money is used for the published cause

Donors can pledge anonymously, this means donor places trust on the platform to mask their identity

Donations should be updated in real-time for each cause

Notable Ideas

How do people upload their causes and get them verified?

How does the UX enable this?

How do people upload their proofs?

How does social validation get audited?

How are identities managed? (DID/SSID etc)

How can a crypto solution improve the efficiency?

Make sure the donor’s funds and identity are secure

Resources

The following are categorised resources which may be helpful as references while implementing your solutions.

General:

Donation Platforms built on RSK Blockchain

Example of Implementations:

Other Links:

Technical:

Standards related to remittance and money transfer

Non-blockchain remittance platforms

Example Blockchain Decentralized Identity Links

Potential Use Cases
Aid/Remittance PlatformImpact Investment & CrowdlendingSocial ID & ReputationCommunity GovernanceCommunity Currency Issuance ContractCommunity Currencies InteroperabilityCommunity WalletPropose your own

Aid / Remittance Platform

Description

Sending money abroad has traditionally been an arduous and expensive task, exemplified by never-ending chains of middlemen, manual paperwork, and hidden charges. Blockchain removes multiple intermediaries that participate in traditional cross-border money transfers. Money is transferred directly via blockchain from Bank A to Bank B, eliminating the need to go through two other correspondent banks and reducing the time and cost of the transaction. Regulators, established financial institutions, and non-governmental organizations (NGOs) are turning toward blockchain technologies as promising tools for financial inclusion of the “unbanked” and “underserved,” and for the “formalization” of hitherto informal value transfers, such as remittances.

You’re required to build a platform that demonstrates the efficacy of the blockchain in eradicating middlemen and centralized systems in Remittance and Aid, allowing sending and receiving of money less expensive and fast. A platform where people and communities with special economical needs can expose their causes and projects that look forward to receiving help and donations from donors and benefactors.

The challenge in the ideation and implementation of social verification methods to register onchain that aid resources addressed to causes are used just as the community states and expects.

Guidelines

The Web Platform should be able to:

Send and receive payments

Allow people to upload causes and communities descriptions requesting for financial aid

Donors can help specific causes with crypto

Donor can help specific causes with fiat through on ramp solutions

People receiving aid should be submitted to a social validation process ensuring that money is used for the published cause

Donors can pledge anonymously, this means donor places trust on the platform to mask their identity

Donations should be updated in real-time for each cause

Notable Ideas

How do people upload their causes and get them verified?

How does the UX enable this?

How do people upload their proofs?

How does social validation get audited?

How are identities managed? (DID/SSID etc)

How can a crypto solution improve the efficiency?

Make sure the donor’s funds and identity are secure

Resources

The following are categorised resources which may be helpful as references while implementing your solutions.

General:

Donation Platforms built on RSK Blockchain

Example of Implementations:

Other Links:

Technical:

Standards related to remittance and money transfer

Non-blockchain remittance platforms

Example Blockchain Decentralized Identity Links

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