ADA-to-Fiat SSI based Dex Satoshi Africa

[GENERAL] Name and surname of main applicant

Bernard Sibanda

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Incorporated)

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

12

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

I have a decentralized exchange satoshi.africa that eliminates banks. I aim to study the feasibility of creating a similar decentralized ADA-to-Fiat and Fiat-to-ADA exchange without bank reliance

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

Yes

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

Yes it will require fiat to ada or ada to fiat api service from simpleswap. Alternatively we will have to develop that api service.

[GENERAL] Will your project’s output/s be fully open source?

Yes

[GENERAL] Please provide here more information on the open source status of your project outputs

We will open source the source code which we develop except the the 3rd part propriatory source code using MIT license

[METADATA] Horizons

Payments

[SOLUTION] Please describe your proposed solution

Before embarking on the development of a clone of satoshi.africa as a business venture, a thorough feasibility study is imperative.

I will conduct a comprehensive feasibility study focusing on the functionalities of satoshi.africa, a crypto-crypto service devoid of intermediaries.

There is a demand for ADA liquidity. Establishing a decentralized exchange (DEX) where users can exchange ADA for fiat without involving banks is essential.

This endeavor will employ peer-to-peer protocols, leverage existing community relations, utilize electronic cash services offered by banks, and transactions of less than $2000 to mitigate risks of terrorist funding and ensure compliance with anti-money laundering (AML) regulations.

The study will outline the technical requirements and service APIs necessary for any community to develop a fiat-to-ADA DEX.

Enabling the use of ADA in everyday transactions will facilitate participation in Cardano-related activities. Currently, individuals receiving payment in ADA encounter difficulties converting it to fiat or face exorbitant fees.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

Promoting Cardano Products/Services

This initiative aims to promote Cardano, along with its products and services, among tertiary students, who represent the country's future leaders.

Partnering with Tertiary Institutions

Collaborating with tertiary institutions enables them to partner with the Cardano Education System, thereby integrating Cardano into South Africa's mainstream blockchains. This collaboration facilitates students' transition from web2 to web3 using the Cardano blockchain.

Cardano Community Collaborations

Engaging with Cardano communities domestically and internationally fosters future markets for both current and forthcoming Cardano products and services. Such collaborations also facilitate partnerships among international and continental Cardano communities.

Increasing Cardano Developer Base

Expanding Cardano's developer base, marketing team, and other personnel not only enhances the project's workforce but also contributes to addressing national unemployment challenges. Consequently, Cardano gains elevated recognition and esteem.

Promoting CIP-1694, Midnight, and Hydra Technologies

Engaging with tertiary students leads to long-term, sustainable outcomes and broadens the scope of Cardano's use cases. Additionally, it serves as a platform for promoting CIP-1694, Midnight, and Hydra technologies, allowing students to familiarize themselves with these innovative Cardano advancements.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

Our strength comes from partnering with Cardano communities, schools and tertiary institution Richfield because we have guaranteed collaboration in events, trainings and attendance. We have ran over 10 local Cardano events and supported WIMS-Cardano schools educations for 3 years and we did this without funding but relying on Tobb Technologies and Women In Move Solutions one office space!

Professional Overview

Running Cardano Summits and Events independently has been within our capacity previously, demonstrating our commitment to reliability as we advance along Cardano's community growth trajectory.

Financial Operations Overview

Approximately 90% of the financial operations at Cardano Centre Johannesburg are overseen by Tobb Technologies Pty Ltd and Women In Move Solutions Pty Ltd. These operations encompass various aspects such as rentals, equipment expenses, and event costs (e.g., Cardano Summit 2023 Johannesburg), alongside student stipend disbursements. The Catalyst initiative is poised to bolster these endeavors, fostering long-term sustainability and facilitating the integration of more individuals into the South African ecosystem.

Proof of Concept

The viability of this approach has been validated through sustained implementation at a smaller scale for a minimum duration of 12 months.

Technical Expertise

From 2015 to 2023, our focus has been on developing and managing web applications tailored for governmental and municipal use. These applications span a wide array of functionalities including water and electricity meter readings, disconnections/reconnections, pretermination notice deliveries, and meter location and verification systems/applications. Our track record includes the successful deployment of commercial applications on a national scale, coupled with the facilitation of employment opportunities for graduates.

Software Development Success

Under the umbrella of Tobb Technologies Pty Ltd, our IT software development arm, we have delivered and implemented robust web applications. These solutions have undergone rigorous testing across more than 20 districts, resulting in revenue generation exceeding 5 million rands.

Educational Partnerships and Expertise

Our collaborations with esteemed institutions such as Richfield, Phoenix, Forest, and Hope high schools, and tertiary entities attest to our commitment to maintaining high standards. Furthermore, our team boasts proficiency across over 15 programming languages, comprising both full-time and part-time members with extensive experience and qualifications.

Cardano Skillset

Our proficiency in Cardano-related skills is substantiated by our participation in the Plutus Pioneer training program under the guidance of Dr. Lars, alongside training sessions conducted by Gimbalabs. Additionally, we hold Haskell certification from Luxembourg University and have completed courses on Atala Prism 1 and 2.

Event Management Success

We have a proven track record of organizing successful events including Summits in 2022 and 2023, Haskell Hackathons, CIP-1694 initiatives, and Onboarding programs.

Commitment to Community Growth

Our dedication to the growth and development of Cardano communities is underscored by our investment of personal finances and resources, reflecting our steadfast belief in Cardano's potential as a frontrunner in the crypto landscape.

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

Milestone 1:

1 Milestone 1 TOTAL (30000 ADA)

a) Milestone Achievement Date : 3 Months after Funding 1 Funds dispatch

Duration 3 months

b) Milestone Funding Amouant 

30000 ADA

c) Milestone Outputs 

1 Project platform design and development(https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Feasibility Research User Requirements report

1 Feasibility Research Technical Requirements report

1 Video/photos Rearch resources and training workshop

d) Milestone Acceptance Criteria

1 Project platform design and development(https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Feasibility Research User Requirements report

1 Feasibility Research Technical Requirements report

e) Evidence Of Achievement

1 Project platform design and development(https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Feasibility Research User Requirements report(https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Feasibility Research Technical Requirements report(https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Video/photos Rearch resources and training workshop(https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

2 Milestone 2 TOTAL (30000 ADA)

a) Milestone Achievement Date : 3 Months after Funding 2 Funds dispatch

Duration 3 months

b) Milestone Funding Amouant 

30000 ADA

c) Milestone Outputs 

1 Core components services rental/purchases report

1 Core components testing/design/development report

1 Workshops and training on dex architecture report

1 Source code for open source part at (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

d) Milestone Acceptance Criteria

1 Core components services rental/purchases report

1 Core components testing/design/development report

1 Workshops and training on dex architecture report

1 Source code for open source part at (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

e) Evidence Of Achievement

1 Core components services rental/purchases report (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Core components testing/design/development report (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Workshops and training on dex architecture report (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Source code for open source part at (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

Final Milestone:

3 Final Milestone 3 GRAND TOTAL TOTAL (30000 ADA)

a) Milestone Achievement Date : 3 Months after Funding 2 Funds dispatch

Duration 3 months

b) Milestone Funding Amouant 

30000 ADA

c) Milestone Outputs

1 Prototype application running at (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Prototype Testing report (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Prototype marketing report (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Documentation report (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Workshops and training on dex architecture videos/photos (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Source code for open source part at (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

d) Milestone Acceptance Criteria

1 Prototype application running at (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Prototype Testing report (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Prototype marketing report (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Documentation report (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Workshops and training on dex architecture videos/photos (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Source code for open source part at (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

e) Evidence Of Achievement

1 Prototype application running at (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Prototype Testing report (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Prototype marketing report (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Documentation report (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Workshops and training on dex architecture videos/photos (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 Source code for open source part at (https://adafiat.com/co/xyz?)github.com/wimsio/adafiat

1 close out video (https://adafiat.com/co/xyz?)(https://github.com/wimsio/adafiat?)

1 close out report (https://adafiat.com/co/xyz?)(https://github.com/wimsio/adafiat?)

[RESOURCES] Who is in the project team and what are their roles?

The Team is composed of Tobb Technologies Pty Ltd employees, Coxygen Employees, Women In Move Solutions Pty Ltd employees and IT Graduates from Richfield Graduate Institute and experienced Cardano community members

The team comprises a diverse group of IT professionals, including graduates and final year students from reputable institutions such as Richfield Graduate Institute of Technology and UNISA. Please also note that most of the work here is procurement and organizing and running events and we have successfully done more than 10 Cardano events in Johannesburg with these people.

Bernard Sibanda

• Resume (CV):
• [Bernard Sibanda's CV](https://tobb.co.za/cv/)
• [LinkedIn](https://www.linkedin.com/in/bernard-sibanda-04832817/)
• Contact Details:
• Address: 50 Elizabeth Avenue, Linmeyer, 2190, Johannesburg, South Africa
• Email: cto@wims.io, besi@tobb.co.za
• Phone: +27 73 182 0631
• Professional Summary:
• Over 15 years of experience in IT, specializing in developing innovative solutions.
• Founder of Tobb Technologies, generating revenue exceeding 6 million rands across 20 districts.
• Professional Experience:
• Founder, Tobb Technologies Pty Ltd, Women In Move Pty Ltd (Year Started – Present), Cofounder of Cardano Africa Live.
• IT Consultant (2007 – Present).
• Education:
• Plutus Core Program, University of Luxembourg.
• Plutus Pioneers Program
• Project-Based Learning, Gimbalabs.

Celiwe

• LinkedIn: [Celiwe Londiwe Ngwenya](https://www.linkedin.com/in/celiwe-londiwe-ngwenya)
• Contact Details: celiwengwenya3@gmail.com, +268 7868 0861 | +27 738 130 617
• Education:
• Master of Science in Computing, University of South Africa.
• Certificate in Digital Currencies, University of Nicosia.
• Advance Diploma in Information Resource Management, University of South Africa.
• Work Experience:
• Computer Science Lecturer at Springfield Research University.
• Facilitator at Boosting Cardano South Africa.

Nomathemba Dada Dip IT (Richfield Graduate Institute of Technology) Developer

• LinkedIn: [Nomathemba Dada](https://www.linkedin.com/in/nomathemba-dada-779785205/?originalSubdomain=za)
• Summary: Web Developer, Haskell student, Plutus student, actively engaged in Cardano Africa Live and Tobb Technologies.

Bongiwe Sibanda (IT Specialist/Web Developer)

• LinkedIn: [Bongiwe Sibanda](https://www.linkedin.com/in/bongiwe-sibanda-874484178/)
• Work Experience: Wits Health Consortium, Tobb Technologies Pty Ltd, etc.
• Skills: IT Support, Web Development, Technical Support.

• Internship Students](https://tobb.co.za/)
• External Links:
• [Tobb Technologies Pty Ltd](https://tobb.co.za/)
• Women In Move Solutions Pty Ltd
• https://cardanoafrica.live
• ABL Technologies

For technically specialized areas we will hire qualified and experienced reputable high performing Cardano community members : IOG, Cardano Foundation, Emurgo, Gimbalabs, Atala Prism, Wada, Plutus Pioneer Programs, 45B, Snapbrillia, etc

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

Milestone 1 Budget

Project platform design and development(https://adafiat.com/co/xyz? (11000 ADA)

Feasibility Research User Requirements(5 researchers x 800 ADA) (4000 ADA)

Feasibility Research Technical Requirements(5 developers x 2000 ADA) (10000 ADA)

Rearch resources and training workshop(10 ADA) (5000 ADA)

TOTAL (30000 ADA)

Milestone 2 Budget

Core components services rental/purchases (15000 ADA)

Core components testing/design/development (12000 ADA)

Workshops and training on dex architecture (3000 ADA)

TOTAL (30000 ADA)

Milestone 3 Budget

Prototype development (3x developers @2000 each ADA) (6000 ADA)

Prototype Testing(5x testers @800 each ADA) (4000 ADA)

Prototype marketing (10000 ADA)

Documentation (5000 ADA)

Workshops and training on dex architecture (5000 ADA)

TOTAL (30000 ADA)

GRAND TOTAL (90000 ADA)

[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

The establishment of an ADA to fiat decentralized exchange (DEX) on the Cardano blockchain could offer several benefits to the Cardano ecosystem:

Increased Liquidity: It would provide an avenue for users to easily convert ADA into fiat currencies and vice versa, enhancing liquidity for ADA and facilitating smoother transactions within the Cardano ecosyste

Accessibility: A DEX would make it easier for users to access ADA without having to rely on traditional centralized exchanges, which may have restrictions or barriers to entry for certain user

Decentralization: By operating on a decentralized platform, the ADA to fiat DEX would align with Cardano's ethos of decentralization, ensuring that transactions are conducted peer-to-peer without the need for intermediarie

Security: Decentralized exchanges often offer enhanced security compared to centralized exchanges, as users retain control of their private keys and assets throughout the trading process, reducing the risk of hacks or breache

Global Reach: A DEX would enable users from around the world to easily trade ADA for fiat currencies, potentially expanding the reach and adoption of Cardano on a global scal

Economic Growth: By providing a seamless way for users to convert ADA into fiat, the DEX could stimulate economic activity within the Cardano ecosystem, encouraging more individuals and businesses to participate in the networ

Overall, an ADA to fiat DEX could play a significant role in strengthening the Cardano ecosystem by enhancing liquidity, accessibility, security, and global reach, while also promoting decentralization and fostering economic growth.