Docufi3d - A Decentralized Platform for Web3 SSI Credential-Based Digital Document Signing and Verification

[GENERAL] Name and surname of main applicant

André Eilertsen for IAMX AG

[GENERAL] Email address of main applicant

andre@iamx.id

Additional applicants

Michiel Bellen - Cardano Foundation

Tim Heidfeld - IAMX AG

Dennis Mittmann - IAMX AG

Tim Brückmann - IAMX AG

Andre Eilertsen - IAMX AG

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

8

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

No

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

No

[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.” .

No dependencies

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

Yes

[GENERAL] If NO, please describe which outputs are not going to be open source. If YES, please write “Project will be fully open source.”

Project will be fully open source.

[METADATA] Category of Proposal

Identity Solutions

[METADATA] SDG rating

SDG Goals

9 - Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation

SDG Subgoals

9.1 - Develop quality, reliable, sustainable and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all

9.3 - Increase the access of small-scale industrial and other enterprises, in particular in developing countries, to financial services, including affordable credit, and their integration into value chains and markets

[IMPACT] Please describe your proposed solution.

Our proposed solution is a fully compliant tool to sign legally binding contracts and verify all types of documents. Our approach focuses on leveraging the Cardano blockchain to establish a robust and transparent system for document verification and digital signatures. This would ensure the integrity and immutability of verified documents, providing a trusted environment for all types of transactions.

The platform is able to verify the authenticity and origin of documents, press releases, invoices and even videos. This opens up for new use cases in a time where the utilization of AI and fraud have reached new highs.

To demonstrate our solution, we will conduct pilot programs with selected partners, showcasing the effectiveness and efficiency of our platform in preventing fraud and enhancing trust. We will measure key metrics such as reduction in fraudulent activities, time & funds saved in document verification processes, and increased overall transaction reliability.

Our solution offers a decentralized and secure ecosystem that ensures the authenticity of documents and legally binding signatures. The benefits extend to individuals, businesses, and institutions, as they can transact with confidence, eliminate the risk of fraud, streamline processes, and save time and resources.

This solution is crucial to Cardano's mission as it aligns with the platform's core principles of security, transparency, and decentralization. By providing a practical application that directly addresses real-world problems, we contribute to Cardano's vision of creating a trusted and sustainable blockchain ecosystem for the benefit of all stakeholders.

[IMPACT] How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

Our proposed solution directly addresses the challenge of creating products and integrations that offer more use cases to the Cardano ecosystem and drives adoption.

Enhanced Trust

Our solution establishes a reliable and transparent platform for document authenticity verification and legally binding signatures. By utilizing DIDs (Decentralized Identifiers) we're able to verify the authenticity without the need for a third-party. This fosters trust among users, businesses, and institutions, promoting increased adoption and usage of the Cardano blockchain.

Fraud Prevention

Our solution effectively prevents fraud in digital communications. This safeguards the integrity of documents and mitigates risks associated with fraudulent activities.

User Engagement and Growth

Our solution engages a wide range of users, including individuals, businesses, legal professionals, and organizations. By offering a user-friendly interface and seamless integration, we attract new users to the Cardano ecosystem and strengthen community participation.

Real-World Impact

Our solution addresses a key problem in digital communication, providing tangible value to users and the Cardano ecosystem as a whole. The solution streamlines processes, saves time and resources, and improves the overall efficiency.

Quantifying the impact of the project, we anticipate achieving a significant increase in the number of users leveraging our platform for document verification and digital signatures. This growth will not only strengthen the Cardano ecosystem but also demonstrate the practical application and value of the platform in solving real-world challenges.

The proposal brings both immediate and long-term value to the Cardano ecosystem by fostering trust, preventing fraud, attracting users, and providing a practical solution that directly addresses a crucial problem. It contributes to the growth and sustainability of Cardano as a trusted and efficient blockchain platform.

[IMPACT] How do you intend to measure the success of your project?

To measure the success of our project, we will employ a combination of different metrics to assess the benefits it brings to the Cardano ecosystem:

Adoption Metrics

We will track the number of users onboarded to our platform, the volume of signatures & documents processed, and the growth rate of user engagement over time. These metrics will indicate the level of adoption and usage of our solution within the Cardano ecosystem.

User Satisfaction

We will gather feedback from users through surveys, interviews, and user experience testing. This data will help us assess user satisfaction, identify areas for improvement, and ensure that our solution meets the needs and expectations of the Cardano community.

Fraud Prevention

By monitoring the incidence of fraudulent activities and comparing it to historical data or industry benchmarks, we can quantify the impact of our solution in mitigating fraud within the Cardano ecosystem. This will demonstrate the effectiveness of our platform in safeguarding transactions and enhancing security.

Efficiency Improvements

We will measure the time and cost savings achieved by users through the streamlined document verification and digital signing processes facilitated by our platform. These metrics will indicate the tangible benefits and increased productivity resulting from the adoption of our solution.

Our innovation will bring immediate benefits to Cardano's productivity by providing a practical solution to document authenticity verification and electronical signatures. It will streamline transactions, reduce the risk of fraud, and improve overall efficiency, resulting in faster and more reliable processes.

By combining quantitative data we can obtain a comprehensive view of the project's impact on the Cardano ecosystem. These metrics will help us evaluate the effectiveness of our solution, make informed decisions for further improvements, and showcase the tangible value we bring to Cardano's productivity and long-term growth.

[IMPACT] Please describe your plans to share the outputs and results of your project?

As advocates of open-source principles, we will contribute relevant code, libraries, and frameworks developed during the project to a public Github repository. This will enable other developers and researchers to build upon our work, accelerating innovation and enhancing the overall capabilities of the ecosystem.

We will actively seek partnerships and collaborations with industry stakeholders, such as legal professionals, businesses, and organizations that can benefit from our solution. By sharing the outputs and opportunities resulting from our project, we aim to establish collaborations that drive further research, development, and adoption of document authenticity verification and secure digital signatures.

The results generated from our project will serve as a foundation for further research and development activities. We will leverage the insights gained from user feedback, performance metrics, and the overall impact assessment to refine and enhance our solution. This iterative approach will allow us to continuously improve the effectiveness, scalability, and usability of our platform.

The results will inform our exploration of new use cases, innovative features, and potential collaborations that can leverage the strengths of the Cardano ecosystem.

Our plan aims to reach a wide range of stakeholders within and beyond the Cardano ecosystem, foster collaboration, and enable the utilization of our project's outputs in further research, development, and practical applications.

Additionally there will be a new CIP (or an inclusion in CIP-30), allowing users to utilize DIDs to sign documents in your wallet.

[CAPABILITY/ FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability?

Our team has a proven track record in IT, fintech, and blockchain.

IAMX AG, specializing in self-sovereign identity and compliance solutions, has collaborated with MME AG and KYC Spider AG to establish a compliant framework for digital identities and web3.

Earlier we developed CIP-0066, a verification method for NFTs, in partnership with NMKR and IOG.

We're a founding member of the OpenWallet Foundation (OWF) by Linux Foundation where also the Cardano Foundation is a member.

The OWF is a consortium of companies and non-profit organisations collaborating to drive global adoption of open, secure and interoperable digital wallet solutions as well as providing access to expertise and advice through our Government Advisory Council.

The OWF aims to set best practices for digital wallet technology through collaboration on standards-based OSS components that issuers, wallet providers and relying parties can use to bootstrap implementations that preserve user choice, security and privacy.

IAMX's legal and compliance partners

MME AG is renowned for its legal framework contributions to various blockchain foundations, including Cardano and Ethereum.

KYC Spider AG is a technical partner of IAMX AG who automates your compliance and KYC processes as well as specific concerns according to individual specifications.

All our employees have undergone KYC, and only our c-level, who are equity holders in IAMX AG, Zug, have access to managing funds. Our CEO is a licensed financial advisor, and we have experience managing funds including $ADA through our stake pool.

[CAPABILITY/ FEASIBILITY] What are the main goals for the project and how will you validate if your approach is feasible?

The main goals for the project are to develop a decentralized and secure platform for document authenticity verification and legally binding signatures within the Cardano ecosystem. The project aims to enhance trust, prevent fraud, and streamline digital communication.

To validate the feasibility of our approach, we have conducted a thorough assessment of the solutions architecture to ensure that the requires tools and frameworks are available and suitable for building our proposed solution. This includes evaluating the compatibility with Cardano's infrastructure and exploring any potential technical challenges.

MVP

We will develop a MVP to demonstrate the core functionalities and technical viability of the platform. The MVP will involve implementing key features such as DIDs (Decentralized Identifers), document verification, and digital signature integration.

User Feedback and Validation

We will engage with the Cardano community to gather crucial feedback on the platform. This feedback will help validate the desirability and usability of the solution, ensuring that it addresses their needs and aligns with their expectations.

[CAPABILITY/ FEASIBILITY] Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.

Milestone 1:

Technical Design and Architecture

Design the decentralized document authenticity verification and digital signing platform, define the technical architecture, select appropriate technologies and frameworks.

Success Criteria: Technical design and architecture finalized, selection of technologies and frameworks completed.

3 weeks

Milestone 2:

Legal and compliance

Legal research & mapping

Terms & conditions

Disclaimer

Success Criteria: Legal and compliance framework finalized.

Terms & conditions & disclaimers

7 weeks

Milestone 3:

MVP

Develop the platform's core functionalities, including document verification, digital signature integration, user interface, and backend infrastructure.

Success Criteria: Platform development completed, core functionalities implemented, user interface and backend infrastructure deployed

10 weeks

Milestone 4:

Testing and Quality Assurance

Conduct thorough testing of the platform, including unit testing, integration testing, and user acceptance testing. Identify and fix any bugs or issues. Engage with the Cardano Community and and launch on test net for user feedback.

Success Criteria: Comprehensive testing completed, all identified issues resolved, platform meets quality and performance standards of the Cardano Community.

6 weeks

Milestone 5

Main net and official launch

Prepare the platform for production deployment, configure servers and infrastructure, conduct final testing, finalize user documentation and support materials. Finalization of UI/UX.

Success Criteria: Platform deployed and operational, user documentation and support materials released.

6 weeks

[CAPABILITY/ FEASIBILITY] Please describe the deliverables, outputs and intended outcomes of each milestone.

Milestone 1: Technical Design and Architecture

Deliverables:

• Technical Design Document: Describes the platform's architecture, system components, and integration points.
• Technology and Framework Selection Report: Outlines the rationale behind selecting specific technologies and frameworks.

Outputs:

• Finalized technical design and architecture for the platform.
• Identified technologies and frameworks to be used.

Intended Outcomes:

• A well-designed platform architecture that ensures scalability, security, and interoperability.
• Selection of appropriate technologies and frameworks to support the platform's development.

Measurement:

• Successful completion of the technical design document and technology selection report.
• Alignment of the technical design with the project objectives and requirements.

Milestone 2: Legal framework

Deliverables:

• Developed Platform: A functional platform with core features implemented, including document verification algorithms, digital signature integration, user interface, and backend infrastructure.
• User Documentation: Documentation and guides for users on how to utilize the platform.

Outputs:

• Fully developed legal guidelines
• Terms & Conditions
• Disclaimers and other legal tasks

Intended Outcomes:

• A fully functional platform that enables document authenticity verification and digital signing.
• User-friendly interface and seamless integration with the Cardano ecosystem.

Measurement:

• Successful implemented all legal documentation
• All outstanding questions & uncertainties resolved

Milestone 3: MVP

Deliverables:

• Developed Platform: A functional platform with core features implemented, including document verification algorithms, digital signature integration, user interface, and backend infrastructure.
• User Documentation: Documentation and guides showing users how to use the platform.

Outputs:

• Fully developed platform with core functionalities.
• User documentation for platform usage and functionality.

Intended Outcomes:

• A fully functional platform that enables document authenticity verification and digital signing.
• User-friendly interface and seamless integration with the Cardano ecosystem.

Measurement:

• Successful completion of the platform development, meeting the defined core functionalities.
• User documentation ready for user adoption and feedback.

Milestone 4: Testing and Quality Assurance

Deliverables:

• Test Reports: Reports summarizing the results of all performed tests
• Bug Fixes and Issue Resolution: Identified bugs and issues addressed and resolved.
• Invite Cardano Community for testing prior to the official launch

Outputs:

• Thoroughly tested platform, ensuring quality, reliability, and security.
• Resolved bugs and issues for improved platform performance.
• User feedback

Intended Outcomes:

• A stable and robust platform that meets quality and performance standards of the Cardano Community.
• User acceptance of the platform's functionality and usability.

Measurement:

• Successful completion of the testing phase, with all identified bugs and issues addressed.
• Positive user feedback on the platform's stability and functionality.

Milestone 5: Deployment and Official Launch

Deliverables:

• Deployed Platform: The platform deployed in a production environment, ready for use.
• Final Testing Reports: Summarized reports on the final testing phase before deployment.

Outputs:

• Deployed platform ready for live usage.
• Final testing reports capturing the platform's readiness for launch.

Intended Outcomes:

• A live and operational platform accessible to users for document authenticity verification and digital signing.
• Verified readiness for production deployment.

Measurement:

• Successful deployment of the platform in a production environment.
• Positive feedback from users during the initial usage and transactional activities.

[RESOURCES & VALUE FOR MONEY] Please provide a detailed budget breakdown of the proposed work and resources.

Technical Design and Architecture: $12,000

Technology and Framework Evaluation: $8,000

Developments: $26,000

User Interface Design: $6,000

Testing and Quality Assurance: $5,000

Bug Fixes and Issue Resolution: $2,000

Deployment and Infrastructure Setup: $4,000

Final Testing and Quality Assurance: $3,000

User Engagement and Community Collaboration: $2,000

User Feedback Analysis and Implementation: $2,000

Conservative calculations with $ADA at 0.28.

Excess funding would go to marketing and the public launch of the platform.

Please note that these are estimated costs and the actual costs may vary based on the complexity of the development work, the feedback received, and the $ADA value. We are committed to using the funds effectively and transparently, and we will provide regular updates on our spending to the Cardano community. Within these frames we’re certain to deliver within the stated timeframes.

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

The cost of the project represents value for money for the Cardano ecosystem in several ways:

Solving a Critical Problem: The project addresses a critical problem of document authenticity verification and fraud prevention in digital communications. By investing in the development of a decentralized and secure platform, the Cardano ecosystem can significantly enhance trust, security, and integrity. The value lies in mitigating risks, reducing fraud, and ensuring the reliability of transactions, ultimately benefiting individuals, businesses, and institutions within the ecosystem.

Efficiency and Cost Savings: The platform's implementation will streamline document verification and digital signing processes, leading to improved efficiency and cost savings. By automating these processes and reducing manual interventions by implementing DIDs (Decentralized identifers), organizations and individuals can save time, resources, and operational costs. This efficiency gain contributes to the overall value and economic benefit derived from the project.

Increased Adoption and User Engagement: The project's success will attract new users and encourage greater adoption of the Cardano ecosystem. By providing a trustworthy and user-friendly platform for document verification, the project can foster increased engagement and participation within the ecosystem. This increased adoption and user engagement have a positive network effect, enhancing the overall value and growth of the Cardano ecosystem.

Implementation of the project will bolster the reputation of the Cardano ecosystem as a leader in secure and compliant solutions, based on the principles of decentralization and self-soveren identity.

It showcases Cardano's commitment to addressing real-world challenges and providing innovative solutions, which, in turn, enhances its credibility and attractiveness to potential users, partners, and stakeholders.

Considering these factors, the cost of the project represents a valuable investment for the Cardano ecosystem. It provides a substantial return in terms of enhanced trust, efficiency, adoption, reputation, and long-term sustainability, positioning Cardano as a leading platform for secure and transparent digital communication.

[IMPORTANT NOTE] The Applicant agreed to Fund10 rules and also that data in the Submission Form and other data provided by the project team during the course of the project will be publicly available.

I Accept