EXIT: Blockchain for Sustainable Entertainment Hub

[GENERAL] Name and surname of main applicant

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

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

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

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

We will develop and implement smart contracts on Cardano to automate and secure loyalty programs and vendor management, ensuring transparency, efficiency, and trust.

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

[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?

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

We intend to use the Apache License 2.0, which allows users to freely use, modify, distribute, and sell the software while maintaining a requirement to include a copy of the original license and copyright notice with any substantial portions of the source code.

The choice of the Apache License 2.0 is motivated by its strong protection against patent claims and its compatibility with other open-source licenses, making it a favorable option for community collaboration and enhancement. This licensing will apply to all the smart contracts we develop, ensuring that the community can benefit from and contribute to improvements in transparency and efficiency in loyalty and vendor management solutions within the Cardano ecosystem.

[SOLUTION] Please describe your proposed solution

Our proposed solution addresses the inefficiencies, lack of transparency, and trust issues commonly found in traditional loyalty programs and vendor management systems. By integrating smart contracts into the "Exit" food and entertainment park's operations on the Cardano blockchain, we aim to revolutionize how these systems operate.

Perception of the Problem

Traditional loyalty and vendor management systems are often plagued by opaque processes that can lead to delays, errors, and disputes, which ultimately harm customer and vendor relationships. The core problem is the centralized nature of these systems, which can be prone to mismanagement and lack robust security measures.

Our Approach

To solve these problems, we propose the development of decentralized applications (dApps) using smart contracts on the Cardano blockchain. These contracts will automate the execution of agreements between "Exit" and its customers/vendors without the need for intermediaries. This approach not only increases efficiency by reducing the processing time for rewards and payments but also enhances security and trust through blockchain's immutable and transparent nature.

Engagement and Impact Demonstration

Our project will engage:

• Customers of 'Exit' who will benefit from a more reliable and transparent loyalty rewards system.
• Vendors at 'Exit' who will experience more streamlined and timely payments and contract management.
• The Cardano Community by contributing to the ecosystem with innovative use cases that demonstrate real-world utility of blockchain technology.

To demonstrate the impact of our project, we will track metrics such as the reduction in transaction times, the decrease in disputes over loyalty points or vendor contracts, and feedback from users and vendors regarding their satisfaction with the new system.

Uniqueness and Benefits to Cardano

What sets our solution apart is the use of Cardano's advanced blockchain technology which offers significant advantages in terms of scalability, security, and reduced transaction costs. Cardano is uniquely suited for handling complex transactions that require regulatory compliance and layered contractual agreements, like those needed for "Exit."

The successful implementation of this project will showcase Cardano’s capabilities in handling enterprise-level dApps and smart contracts, potentially attracting more businesses to the platform. It aligns with Cardano's mission to deliver a more secure, transparent, and fair platform for economic and social systems.

This proposal supports Cardano’s growth and adoption, proving its utility in diverse real-world applications beyond simple transactions—extending into business operations and customer engagement strategies. This project will not only benefit "Exit" but also serve as a model for other enterprises looking to leverage blockchain technology to solve similar problems.

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

The project to develop a Proof of Concept (PoC) for loyalty program and vendor management smart contracts on the Cardano blockchain is poised to bring significant value to the wider Cardano community. This impact can be measured and shared in several strategic ways:

Impact on the Cardano Community

1. Demonstration of Cardano's Utility: By successfully implementing smart contracts for complex use cases within "Exit," we demonstrate Cardano's capability beyond basic transactions, showcasing its potential for business applications and complex ecosystems. This can attract more developers and businesses to the Cardano platform, expanding its use and relevance.
2. Enhancing Blockchain Adoption: The project will serve as a practical example of how blockchain can be applied to solve real-world problems in enterprise settings, potentially leading to increased adoption of Cardano technology in other sectors such as retail, hospitality, and more.
3. Community Engagement and Growth: Through this project, we plan to engage with the Cardano community by providing open-source smart contracts and documentation, encouraging collaboration, feedback, and further development of the deployed systems.

Measuring Impact

• Quantitative Metrics: We will track the number of transactions processed through the smart contracts, the reduction in dispute resolutions, and the increase in efficiency (e.g., reduced time from transaction to fulfillment). Additionally, user adoption rates among customers and vendors at "Exit" will be monitored.
• Qualitative Feedback: Surveys and interviews will be conducted with both vendors and customers using the systems to gauge satisfaction, trust in the system, and ease of use. Feedback from the Cardano developer community will also be gathered to assess the utility and scalability of the smart contracts.

Sharing Outputs and Opportunities

• Documentation and Reports: Comprehensive documentation on the development process, challenges encountered, and solutions implemented will be made publicly available. Periodic progress reports and final results will be shared through Cardano community forums, blogs, and at blockchain technology conferences.
• Workshops and Webinars: To ensure the community can fully leverage the outputs of this project, we will host workshops and webinars detailing the use, modification, and deployment of the smart contracts developed. This will include technical guides, best practices, and live Q&A sessions.
• Collaborations and Partnerships: We aim to collaborate with other blockchain projects and enterprises interested in exploring similar solutions, sharing our findings and learning from others to enhance the collective knowledge base.

[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?

Team Expertise and Experience

• Proven Track Record: Our team consists of experienced blockchain developers, project managers, and industry experts who have previously worked on successful blockchain projects. This includes the development and deployment of smart contracts for various applications within and outside the Cardano ecosystem.
• Technical Proficiency: Our technical team is well-versed in Plutus, the smart contract platform for Cardano, ensuring that we have the necessary skills to develop and implement the proposed solutions effectively.
• Industry Knowledge: With extensive experience in the sectors of entertainment and vendor management, our team understands the specific challenges and requirements that the project aims to address.

Trust and Accountability Measures

• Transparent Reporting: We commit to maintaining transparency through regular progress reports and updates to all stakeholders, including detailed accounting of all expenditures. These reports will be made available through the project’s dedicated webpage and Cardano community forums.
• Escrow and Milestone-Based Funding: Funds will be managed through an escrow system, with releases tied to clearly defined milestones and deliverables. This ensures that funds are used appropriately and that there is continual progress towards project goals.
• Community Engagement: We will engage with the Cardano community continuously, seeking feedback and conducting beta testing with community members. This not only builds trust but also ensures that the project remains aligned with community needs and expectations.

Validation of Feasibility

• Proof of Concept (PoC): We will develop a PoC to test the technical viability of our smart contracts in a controlled environment. This initial phase will help identify potential issues and assess the scalability of the solution.
• Iterative Testing and Feedback: Following the PoC, we will implement iterative testing phases, incorporating feedback from early users and stakeholders. This approach allows us to refine the system before full-scale deployment.
• Independent Audits: To further validate the security and efficiency of the smart contracts, we will engage independent third-party services to conduct audits and verify the integrity of the code.

By leveraging our team’s expertise, implementing rigorous project management practices, and engaging actively with the Cardano community, we ensure that the project is delivered with the highest levels of trust and accountability. This structured approach not only safeguards the project funds but also assures the community of our commitment to delivering a valuable and robust solution.

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

Requirements Gathering and Initial Design

Duration: 1 month

A: Milestone Outputs

• Comprehensive requirements document detailing loyalty program and vendor management needs.
• Initial smart contract design documents.

B: Acceptance Criteria

• Approval of requirements document by project stakeholders.
• Sign-off on the initial design by the technical team.

C: Evidence of Milestone Completion

• Documented requirements and design plans approved and signed off by stakeholders.
• Meeting minutes with stakeholders discussing and approving the requirements.

Development of Smart Contracts

Duration: 2 months

A: Milestone Outputs

• Developed smart contracts code for loyalty program and vendor management.
• Integration with a test environment on the Cardano blockchain.

B: Acceptance Criteria

• Smart contracts pass initial functional tests.
• Code review by at least two independent Cardano developers.

C: Evidence of Milestone Completion

• GitHub commit history showing completed smart contracts.
• Code review reports and test results documentation.

Testing and Iteration

Duration: 2 months

A: Milestone Outputs

• Comprehensive testing including unit tests, integration tests, and user acceptance testing.
• Feedback incorporation and system iteration based on test results.

B: Acceptance Criteria

• All critical bugs resolved.
• User acceptance testing sign-off by at least 10 external testers.

C: Evidence of Milestone Completion

• Testing documentation and bug reports.
• Signed acceptance forms from testers.

Deployment and Monitoring

Duration: 1 month

A: Milestone Outputs

• Deployment of smart contracts to the Cardano mainnet.
• Monitoring tools set up to track performance and issues.

B: Acceptance Criteria

• Smart contracts are live and operational without critical issues for two weeks.
• Monitoring reports confirming system stability.

C: Evidence of Milestone Completion

• Deployment logs and operational monitoring dashboard screenshots.
• Official announcement on the project’s website and community forums.

Project Close-out and Reporting

Duration: End of month 6

A: Milestone Outputs

• Comprehensive project report detailing the development process, challenges, and outcomes.
• Close-out video that summarizes the project and its impact.

B: Acceptance Criteria

• Detailed report accepted by the funding body.
• Video meets professional standards and clearly communicates the project's achievements.

C: Evidence of Milestone Completion

• Final project report document.
• Published video link on official project channels.

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

Utpal Nath - Product Owner

Barnali Hazarika - Co Product Owner

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

• Development CostsSmart Contract Developers: Hiring two developers specialized in Cardano's Plutus smart contract language.
• Cost: 50,000 ADA
• Testing and Quality AssuranceQuality Assurance Specialists: Engaging QA specialists to ensure robust testing of the smart contracts.
• Cost: 10,000 ADA
• Third-party Code Audit: Contracting an external agency to perform security audits on the smart contracts.
• Cost: 15,000 ADA
• Project Management and AdministrationProject Manager: Overseeing project execution, ensuring milestones are met.
• Cost: 10,000 ADA
• Legal and Compliance Consulting: Ensuring all aspects of the smart contract adhere to legal standards and Cardano protocol requirements.
• Cost: 5,000 ADA
• Infrastructure and Operational CostsSoftware Licenses and Tools: Necessary for development environments, version control systems, and collaboration tools.
• Cost: 2,000 ADA
• Cardano Node Operation: Costs associated with setting up and maintaining a Cardano node during development and testing phases.
• Cost: 3,000 ADA
• Community Engagement and MarketingCommunity Management: Handling feedback, queries, and engagement with the Cardano community.
• Cost: 2,000 ADA
• Marketing and Publicity: Materials and campaigns to raise awareness of the project within the Cardano ecosystem.
• Cost: 3,000 ADA

Total Requested Funds

• Total: 100,000 ADA

Additional Funding and Resource Allocation

• Should the project exceed the initial budget estimations, additional funding will be sought through private investments or partnerships within the Cardano ecosystem. The team is also open to contributing personal funds to cover any unforeseen expenses, ensuring the project’s completion without compromising on quality or security.

Justification of Costs

• Development and Testing: Major portion of the budget allocated here to ensure the smart contracts are secure, efficient, and functional.
• Project Management and Legal Fees: Critical for maintaining project timelines, handling administrative tasks, and ensuring compliance with legal standards.
• Community Engagement: Essential for fostering a supportive environment and gaining valuable feedback, crucial for iterative development.

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

Justification of Costs

1. Development and Technical Expertise: The majority of the budget is allocated to hiring skilled developers proficient in Cardano's Plutus smart contract language. Given the complexity and importance of building secure and efficient blockchain applications, it is crucial to invest in high-quality talent. The rates are based on typical freelance rates for blockchain developers, which range widely but are justified by the expertise required to ensure security and functionality in a decentralized environment. These costs align with the global blockchain development market rates.
2. Testing and Quality Assurance: Investing in thorough testing and an external code audit ensures that the smart contracts are secure and operate as intended, which is vital for maintaining trust in blockchain applications. The cost for quality assurance and third-party audits is consistent with industry standards for blockchain development, where security is paramount.
3. Project Management and Legal Compliance: These costs ensure that the project is delivered on time, within scope, and complies with all necessary legal and regulatory standards, which is crucial for any technology implemented on a public blockchain like Cardano. The budget for legal and compliance consulting is aligned with average consultancy fees and is essential for navigating the complex regulatory landscape of blockchain technology.
4. Community Engagement and Marketing: Funds allocated here will ensure the project resonates with the Cardano community and beyond, helping to drive adoption and awareness of the project’s contributions to the ecosystem. The costs for community management and marketing are based on typical rates for these services and are crucial for building and maintaining user engagement, which is key to the project’s success and sustainability.

Value for Money

• Leverage and Scalability: The project is designed not just to fulfill immediate needs but to provide a scalable solution that can be adapted for broader uses within the Cardano ecosystem, thereby multiplying the return on investment over time.
• Enhancement of Cardano’s Ecosystem: By demonstrating new and effective uses of Cardano’s smart contract technology, the project helps to position Cardano as a leading blockchain for enterprise solutions, attracting more developers and projects to the platform.
• Open Source Contributions: Making the project outputs open source adds value to the Cardano community by providing reusable code that can help other developers and projects accelerate their own development efforts.

Overall, the budget reflects a strategic allocation of resources that balances cost with potential impact, ensuring that each dollar spent enhances the Cardano ecosystem’s capabilities and reputation. The focus on high-quality development, rigorous testing, compliance, and community engagement ensures that the project not only meets its immediate goals but also contributes to the broader strategic objectives of the Cardano community.