Cardano leading "Chain Reaction" Event: Web3 & Digital Assets policy & building

[GENERAL] Name and surname of main applicant

Shafiq Amiri

[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)

2

[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)

We're hosting Chain Reaction in partnership with the government of Azerbaijan. The country's strategic location is leveraged to create a tech hub & educate stakeholders about blockchain via the event.

[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?

No

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

Not applicable.

[METADATA] SDG rating

SDG 9 - Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation: Chain Reaction is supported by the government fostering innovation.

SDG 13 - Take urgent action to combat climate change and its impacts: Sustainability is a topic of Chain Reaction and Azerbaijan is hosting COP29 this year.

[SOLUTION] Please describe your proposed solution

It may seem odd given blockchain technology is built on the spirit of decentralization, whereas regulation is a testament of centralization. However, true blockchain and decentralized application adoption can only be achieved when user safety and responsible policies are in place. Chain Reaction is being hosted by FARI Solutions, a blockchain advocacy and advisory firm.

Chain Reaction is the region's largest web3 and digital assets conference. The event caters to the need of close engagement with regulators and stakeholders to educate them on blockchain's utility. The aim of the event is to ensure stakeholders have access to information about blockchain and its' use cases and facilitate the adoption of the technology.

Chain Reaction provides a platform for web 3 visionaries, policy makers, corporate and finance leaders and the general community to engage one another. This is done through dynamic content delivered across workshops, presentations, fireside chats, panel sessions and keynotes. Furthermore, the content takes the audience through the history and future of blockchain technology, the novelties and innovation it enables, the projects that have been already been built and developments expected. The target is for enterprises to understand the technology and plan their development.

The event is supported by the Center for the 4th Industrial Revolution (C4IR) under the Ministry of Economy of the Republic of Azerbaijan in partnership with the World Economic Forum and the Innovation and Digital Development Agency under the Ministry of Digital Development and Transport of the Republic of Azerbaijan. These partners are the key stakeholders of innovation and the digital economy strategy. The event aims to support the Absheron Valley Innovation Hub project and will be held on 10-12 September.

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

Understanding Cardano's engagement with such governments as Georgia, Ethiopia and others. Chain Reaction provides an unparalleled access to innovative public sector and corporate enterprises who are seeking to learn more about blockchain technology. The impact we see is the following areas.

Education: Chain Reaction offers a diverse set of education related to blockchain technology. This includes understanding concepts such as smart contracts, NFT, real-world assets, DeFi, gas mechanics, decentralization and more. Taking in consideration the audience of the event, education allows for informed decisions regarding policies, experimentation and development.

Adoption and Interest: Public and private sector entities are supporting Chain Reaction signalling an interest in emerging technologies such as blockchain. The C4IR (Event's partner) has undertaken more than 60 projects, including blockchain technology and is the author of the country's digital economy strategy 2022-2026. Their goal is to integrate emerging technologies into government and other facets of enterprise technology. Furthermore, the lineup of speakers of Chain Reaction includes business leaders from across the world. This will boost Cardano's presence with stakeholders dealing in innovation, paving an avenue for increased real-world adoption of the Cardano technology.

Community Building: A platform for the Cardano community, web3 enthusiasts and new comers to connect with one another and exchange ideas. A large community creates opportunities in higher engagement with Cardano ecosystem.

Marketing Reach: Chain Reaction is hosted during the Azerbaijan Formula 1 race, an already global event. In conjecture with the race and Chain Reaction marketing strategy, Cardano would benefit from an increased reach in the region.

[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?

FARI Solutions engages with sovereign and private companies to assist them on their digital transformation initiatives leveraging blockchain technology. Through our government relations work, we also advocate for establishments of innovation hubs, safety mechanisms and responsible policies that align with realistic and respectful decentralization. We have already completed much of the work related to the event as can be seen on the event website and social media channels.

We're trusted through engagements with such institutions as multiple government entities, web 3 protocols and enterprises. These engagements provides a glimpse into our accountability towards effective project delivery, operating with institutions with robust corporate or bureaucratic governance as well as adhering to budget considerations.

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

Creating the event's structure, including topics, agenda, location, venue and dates. The agenda is constantly updated to reflect additions of speakers.

For more information: https://chainreaction.farisolutions.com

Achieve regional support from the government:

We've partnered with C4IR Azerbaijan under the Ministry of Economy, and receive additional support from different ministries, central banks and government entities. This ensures we have an audience that can trigger innovation apart from developers, corporate leaders, and founders. We are further anticipating other entities to partner and sponsor Chain Reaction.

Onboard top speakers from web 3, web 2 and regulators:

We have achieved this milestone and are constantly adding valuable speakers from structured finance, blockchain pioneers, investors, entrepreneurs and more.

For more information: https://chainreaction.farisolutions.com

Marketing efforts:

Marketing efforts are ongoing until mid-September to promote the event, partners and increase reach. We have designed an engaging and creative marketing plan that encompasses the following:

• Real-life activation delivered to offices. This plan is a sure-way to illicit emotions and social media buzz by the recipients. This is not paid ads.
• Collaborations with media outlets and publications, key opinion leaders (KOL) and influential speakers. We currently have 10 media partners, including firms such as Coin Telegraph.
• Non-conventional social media content to engage with millennials and “Gen Z”.
• Boosting social media content such as agenda of the event, event objectives and profiles of highly influential speakers to specific personas.
• In-person promotions and networking through travelling to similar events.

Print and fixtures:

The printing and creating of fixtures such as stands, booths and activation will commence in August, providing a 3 week minimum of preparation time for certain products. We will be working with Konsis Group for these matters.

Chain Reaction opening and Post-event report:

Chain Reaction will open on 10 September 2024 in the venue. The conference will take place over 2 days.

Within 30 days of the event's conclusion, we will send a post-event report to our supporters and partners. This concludes the final milestone.

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

Shafiq Amiri: Lead

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

Hek Ara: Experience, volunteers & relation management

https://www.linkedin.com/in/hek-ara-483046215/

Anayat Rahim: Marketing

https://www.linkedin.com/in/anayat-rahim-00bb83209/

Waheed Amiri: Partnerships and sponsorship

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

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

Please find a high-level budget breakdown below in both USD and ADA. For accurate reference, the USD figure will take precedence in case of price fluctuation from the time of this application submission and the day of the grant receipt.

Please note the budget shown below exceeds the funding request. We have alternative sources of funding which includes grants and sponsorship received from web 3 projects, corporates, public sector entities as well as funding from the organizer (FARI Solutions).

Budget breakdown:

• Venue including; coffee, staging, lighting, labor: $50,000 / 108,700 ADA
• Marketing including; posters, banners, digital content, social media ads, targeted ads, local media ads: $25,000 / 54,350 ADA
• Volunteer management including; training, recruitment, compensation, catering for 70 volunteers: $6,300 / 13,700 ADA
• Cardano themed booth, activation, logistics: $12,500 / 27,180 ADA

Total Budget: $93,800 / 203,930 ADA

Additional considerations can be given to legal and compliance, however, these costs are incurred by the organizer (FARI Solutions).

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

Venue

108,700 ADA allocated for the venue and related matters covers rent of a premium location for 2 days plus a move-in day, cost of rent of stage and lighting materials for 2 days plus a move-in day and the labor cost for constructing the stage as well as providing 2 days of coffee break to event attendees. These costs are inline with the average daily contractor fees in Azerbaijan, cost of renting a premium location, equipment rental and catering. Investment in this field ensures a holistic experience is provided to all stakeholders.

Marketing

54,350 ADA allocated for marketing and related matters ensures persistent awareness is provided to the regional attendees. Digital media marketing is a crucial aspect of any successful endeavor and as will be this investment. The costs are inline with typical rates for content creation and online promotion.

Volunteer

13,700 ADA allocated for volunteer management ensures the costs of the event is minimized whilst providing first-hand experience in to the world of blockchain technology to a group of young and dynamic individuals. The costs cover providing the volunteers training, daily catering during the event, compensation and recruitment.

Activation

27,180 ADA allocated for Cardano themed activation covers a banners, a 10 square meter stand and overall promotion of Cardano during the event. The costs are inline with the cost of labor for constructing the activation, cost of activation and logistic. Investing in the activation is a great value for money to showcase Cardano's technology to the event attendees.

Overall value for money to the Cardano Ecosystem

Chain Reaction provides an excellent value for money through various tracks.

• Growth of the Cardano community in an emerging market.
• Pathway to adoption of the Cardano technology by established companies and government entities.
• Visibility of the Cardano technology in a large-scale event such as Chain Reaction contributes to raising awareness.
• Strategic partnerships can be achieved as Chain Reaction is supported by multiple government entities exploring blockchain technology.