CFC( cardano for commerce)

[GENERAL] Name and surname of main applicant

yikanu shibru

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

Individual

[GENERAL] Co-proposers and additional applicants

no

[GENERAL] Requested funds in ada

104166

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

10

[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)

The solution allows users to shop globally with ADA, offering secure, low-fee transactions and a user-friendly mobile app, ensuring financial inclusion for those without banking access.

[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.”

The CFC project does have several dependencies that need to be considered, especially since it's designed to enable transactions using ADA for purchases from well-known brands like SHEIN. First, establishing partnerships with various brands is crucial to allow users to make purchases using ADA, which may involve negotiating transaction processes and acceptance. Additionally, integrating with payment gateways that support ADA transactions is necessary for processing payments, requiring partnerships with companies specializing in cryptocurrency payments. Regulatory compliance is another important aspect; depending on the jurisdictions we operate in, there may be legal requirements related to cryptocurrency transactions that we must adhere to.

Our platform will also need a robust technical infrastructure to facilitate secure transactions and manage user data, potentially involving collaborations with tech providers or third-party solutions. Educating users on how to use ADA for transactions will be vital for encouraging adoption, so collaborations with educational platforms or organizations could be beneficial. Lastly, if the platform involves physical products, partnerships with logistics and fulfillment services will be necessary to handle shipping and delivery effectively. By identifying and addressing these dependencies, we can create a more effective and user-friendly platform for facilitating ADA transactions with popular brands.

[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

I make this website an open source so that it can be design in the marketer interest.

that means to make it easy to be part in and leave or even change some content to suit the time and the customer desire.

[METADATA] Horizons

Marketplace

[SOLUTION] Please describe your proposed solution

1. How did you perceive the problem you're solving?

"I perceived the problem of limited access to international purchasing options through the challenges faced by many individuals in Africa, where banking systems are often inadequate. This inadequacy makes it difficult for users to utilize traditional banking services, such as account numbers or credit cards, to make online purchases from well-known brands like Shein and Shopify. Recognizing this gap, I sought a solution that leverages Cardano (ADA) to facilitate seamless international transactions. By using ADA, we can bypass the limitations of local banking systems, providing users with a secure, decentralized payment option that empowers them to purchase goods from global marketplaces. This approach not only enhances access to a wider range of products but also fosters financial inclusion, allowing users to participate in the global economy despite the challenges posed by their local banking infrastructure."

2.What are your solutions for approaching it in the way that you are?

"I chose to approach the problem of limited access to international purchasing options by utilizing Cardano (ADA) for transactions because it offers a secure, decentralized, and cost-effective payment solution. My strategy includes several key steps: developing a user-friendly mobile application and website that allows users to easily browse products and make purchases using ADA; collaborating with popular e-commerce platforms like Shein and Shopify to ensure access to a wide range of products; implementing robust security measures, including a three-tier verification system to enhance user security; and actively engaging with the community to refine the platform based on user feedback. By taking this approach, I aim to empower individuals in regions with weak banking systems, enabling them to participate in the global market while ensuring their transactions are secure and efficient."

3.Who will your project engage?

"My project will engage several key groups. The primary users will be individuals in Africa and other regions with limited access to traditional banking systems, allowing them to make secure international purchases using ADA. Online retailers and e-commerce platforms will be engaged as partners, enabling them to accept ADA payments and reach a broader audience. Local community organizations and advocacy groups focused on financial inclusion will help promote the platform and educate users about the benefits of using ADA for transactions. Additionally, developers and technical partners will contribute to building and maintaining the platform, while engaging with regulatory authorities will ensure compliance with local laws regarding cryptocurrency transactions. By engaging these stakeholders, the project aims to create a holistic ecosystem that fosters financial inclusion and empowers users."

4.Who will you dominate or prove your impact?

My project will primarily impact underbanked individuals in regions with weak banking infrastructure, particularly in parts of Africa. By providing access to a secure method of international purchasing through ADA, we can empower them to participate in the global economy. Online retailers will also benefit from integrating ADA payments, allowing them to reach a broader customer base and potentially increasing sales. The project aims to boost local economies by enabling residents to buy goods and services from international markets, fostering economic growth. Furthermore, promoting the use of ADA for everyday transactions will contribute to the broader adoption of cryptocurrency. To prove our impact, we will track key performance indicators such as the number of transactions made using ADA, user growth rates, and customer feedback, demonstrating how the project enhances financial access and promotes e-commerce participation among underbanked populations.

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

The Cardano community will experience significant growth through my project, as it attracts more users and fosters a diverse global user base. By promoting the use of ADA for transactions, we enhance the blockchain's purpose and visibility, positioning Cardano as a viable currency for international commerce. This initiative not only facilitates easier purchases but also elevates Cardano's reputation, paving the way for it to become a leading global currency for trade.

[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?

Capacity to Deliver:

We will ensure high levels of trust and accountability through:

Robust user verification systems.

Clear communication channels for feedback and support.

Partnerships with reputable e-commerce and blockchain organizations.

Validation of Feasibility:

To validate our approach, we will:

Conduct thorough market research and engage with potential users.

Run pilot programs to test functionality and gather feedback.

Leverage existing case studies of successful ADA implementations in e-commerce

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

research and planning

1-2 months

platform design

from 3-4 month

development phase

5-7 months

testing

8th month

launch preparation and marketing

9-10 th month

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

The project team consists solely of me, as I am undertaking this project individually. While I will manage all aspects of the development and execution, I am open to seeking professional support as needed to ensure the project's success.

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

Total of 104,166.5 ADA:

Development Costs (52,083.25 ADA): This allocation covers the creation and implementation of the e-commerce platform, including user interface design, backend development, and integration of ADA payment systems. It also encompasses costs for software licenses and tools required for development.

Marketing (26,041.25 ADA): This budget is dedicated to promoting the platform through digital marketing strategies, including social media campaigns, influencer partnerships, and search engine optimization (SEO). The aim is to increase brand awareness and attract a diverse user base from different geographical regions.

Operational Costs (15,625 ADA): This section includes day-to-day operational expenses such as salaries for support staff, hosting fees, and ongoing maintenance of the platform. It ensures the system runs smoothly and that users receive timely assistance.

Legal and Compliance (5,208.25 ADA): This amount is set aside for legal consultations and compliance measures, ensuring that the platform adheres to international trade laws and cryptocurrency regulations. It covers any necessary licensing and safeguards against potential legal challenges.

Contingency Fund (5,208.25 ADA): This reserve fund is crucial for unexpected expenses that may arise during the project's execution. It provides a financial cushion for any unforeseen challenges, allowing the project to remain on track without delays.

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

The cost of my project represents value for money for the Cardano ecosystem because it aims to increase the adoption of ADA through practical use in e-commerce. By facilitating international transactions, especially in regions with limited banking access, your project enhances the utility and accessibility of ADA as a currency. This can lead to higher transaction volumes and a broader user base, which ultimately strengthens the Cardano ecosystem.

Additionally, the investment supports the development of a sustainable e-commerce platform, creating jobs and fostering partnerships with brands, thereby contributing positively to the local and global economy.