OPTN - Advanced Transaction Setup for Better End User Experieces, Starting with RealFi / PropTech

[GENERAL] Name and surname of main applicant

Jerry Qian

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

Entity (Incorporated)

[GENERAL] Co proposers and Additional applicants

Bitcoin Bay Corporation

[GENERAL] Requested funds in ada

200000

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

6

[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)

Leverage advanced transaction setups to develop diverse set of problem cases in existing non-blockchain industries. Initial focus is aimed at Real Estate Finance (RealFi) / PropTech sectors.

[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.”

Core dependencies, such as frameworks and SDKs, would be maintained by 3rd party groups. Any organization-specific dependencies would be minimized given sufficient alternatives.

[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

MIT license

[SOLUTION] Please describe your proposed solution.

The technology to support the real estate sector with blockchain is already sufficient for a good portion of interactions within the sector. Problem lies in lacking knowledge and clarity on the appropriate combination of technologies in addition to providing a flexible user experience. OPTN aims to provide the infrastructure component to support developers in creating a rich and diverse set of experiences interacting with blockchain technology.

While core wallet functionalities will be available natively, we are looking to have add-on module support to allow for easier collaboration. This allow for faster iterations with multiple collaboration partners, especially when discovering the needs within PropTech and RealFi. The multichain component with Cardano allows for better segregation of responsibilities, playing to the strengths of the involved chains like Bitcoin Cash.

Our project will engage existing players in the real estate and property management space. Leveraging the collaboration between people of different industries in Toronto, our immediate goals will be to secure initial agreements with interested parties to perform further market testing.

End result for the funding will be to 1) deliver basic Cardano integration support for our OPTN wallet, 2) get smart contract support working for wallet, and 3) design RealFi / PropTech relevant user experiences through market player feedbacks.

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

Success to the Cardano community involves increasing awareness and exposure to the overall Cardano ecosystem and technological capabilities. We will be targeting the market segment withing ReaFi / PropTech that is familiar with Ethereum as well as some of the drawbacks using the network. Aim is to convince "non-blockchain" parties of Cardano's potentials and the potential missed opportunities by overlooking it. We will provide regular development outcomes and market feedback to keep the Cardano community updated on our progress.

[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?

We deployed our prototype wallet, OPTN, in the local crypto space in Toronto, showcasing some advanced transactions leveraging the Cashscript compiler for Bitcoin Cash.

(link to prototype release - https://github.com/BitcoinBay/OPTN-Wallet/releases/tag/v0.1-CashScript)

These included "covenants and inscriptions" to guarantee certain outputs (and sometimes inputs as well) when making transactions. We are hoping to establish more cross-chain interactions and explore the potentials in more cross-chain collaboration.

Our initial area of focus is on the intersection between real estate and tech (RealFi / PropTech). Real estate markets are large enough to support emerging technology deployment without too much outside money, alleviating the need to rely on VCs and other startup funding options.

Our OPTN wallet was developed from an open source project, which we have maintained to this day. We leveraged local students and other enthusiasts, in collaboration with developers online, to build the initial prototype. Many sought after internship experience, which was much appreciated in their new positions. We intent on continuing our partnerships with the schools to provide opportunities for more blockchain development students.

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

Integrate Cardano blockchain with our OPTN wallet

• support key generation from mnemonic phrase
• send basic transaction and validate
• secure wallet information for complex tx setup

Establish support for contracts and other customized transaction setups

• deploy contracts through wallet
• recover deployed contracts
• coordinate multi-party interactions

Design transaction flows for real-estate / property related case scenarios

• property rental and "token-gating" support
• property maintenance records
• fractionalized property ownership

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

Jerry Qian - Team Lead / CTO

https://www.linkedin.com/in/jerry-qian-4ba2a79a/

Leo Fiadzinu - COO / Infrastructure

https://www.linkedin.com/in/leonard-fiadzinu-cfa-cmt-caia-a43a1a1/

Gaurav Sharma - Business Relations

https://www.linkedin.com/in/gauravksharma9/

Planning to recruit:

2-3 developer interns to assist with wallet integration work (i.e. cross chain, infrastructure, testing, etc.)

Funding will primarily pay for developer interns, covering some basic logistic support.

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

~32500 ADA per developer per 3-month internship (up to 6) - total: 195000 ADA

5000 ADA contingency + logistics

Existing marketing resources from Bitcoin Bay can be leveraged to help with promotion and community engagement

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

Estimating developer annual salary at $65k CAD in Toronto, this translates roughly to 32500 ADA per 3-month internship, which allows for up to 6 total internship slots

[IMPORTANT NOTE] The Applicant agrees to Fund 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