Decentralized Company Management System with Smart Contracts

[GENERAL] Name and surname of main applicant

Leykun Asefa

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

Individual

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

11

[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)

Cardano smart contracts to automate financial management, payroll, and document handling for companies, ensuring transparency, reducing errors, and increasing efficiency.

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

The project will be fully open source and available throughout the entire lifecycle. We will use the MIT License to allow maximum flexibility and contribution from the community. All project elements, including smart contracts for financial management, payroll, and document handling, will be shared in a public repository, allowing developers and stakeholders to review, audit, and contribute. This ensures transparency, fosters collaboration, and promotes ongoing innovation. The platform's interface and backend code will also be open source, enabling future improvements and adoption by other businesses.

[METADATA] Horizons

Business Services

[SOLUTION] Please describe your proposed solution

Proposed Solution

Managing a company’s finances, employee payroll, and documents is often a manual and inefficient process that leads to delays, human error, and lack of transparency. Companies also face high administrative costs and the risk of fraud when relying on traditional systems. Our proposed solution aims to automate and secure these processes using Cardano’s blockchain technology.

Problem

The key issues in company management include inefficient financial tracking, errors in employee payroll, and slow document approval processes. These inefficiencies lead to increased administrative burdens, higher costs, and potential for fraud. Additionally, manual tracking can result in compliance issues and lack of clear auditing trails.

Our Approach

We will create a decentralized platform that uses Cardano smart contracts to automate a company’s critical functions

• Financial Management: Automate incoming and outgoing payments using smart contracts. This includes revenue tracking, vendor payments, and operational costs, which are recorded on the blockchain for transparency.
• Employee Payroll: Smart contracts will manage employee payments automatically, releasing funds based on preset contract terms, ensuring timely and error-free salaries.
• Document Management: Store and manage critical business documents (contracts, agreements, approvals) on the blockchain for immutable and transparent record-keeping. This reduces errors and streamlines approval processes with automated workflows.

Who Will Benefit?

• Business Owners and Managers: They will gain transparency and real-time visibility over company finances, employee contracts, and documents. This solution will automate repetitive administrative tasks, allowing businesses to operate more efficiently.
• Employees: They will benefit from guaranteed, timely salary payments and transparency regarding their contracts, bonuses, and work terms, all securely managed through smart contracts.
• Auditors and Compliance Teams: They can easily access an immutable record of company transactions and documents, simplifying audits and ensuring compliance with legal requirements.

Why Blockchain?

Cardano’s blockchain provides the scalability, low transaction fees, and security needed to handle complex business processes. Smart contracts ensure automation without intermediaries, reducing costs and errors. Additionally, using the blockchain for document storage guarantees immutability, making it impossible to alter records without consensus, reducing the risk of fraud.

What’s Unique About This Solution?

• Automation and Transparency: By using smart contracts, the platform eliminates the need for manual intervention in managing payments, employee contracts, and documents. The transparent and immutable nature of blockchain provides a secure and trusted environment for all stakeholders.
• Real-Time Financial Management: The platform provides businesses with real-time, blockchain-based financial tracking, allowing them to monitor their cash flow and expenses without relying on external parties.
• Document Integrity: Critical documents stored on the blockchain are immutable, providing companies with a secure method for handling approvals, legal contracts, and compliance records.

Demonstrating Impact:

We will demonstrate impact through:

• Quantitative Metrics: Number of businesses using the platform, volume of transactions processed, and reductions in errors and administrative costs.
• Qualitative Metrics: Feedback from businesses, employees, and auditors on the ease of use, trust, and efficiency gained through automation.

This solution will benefit Cardano by showcasing the power of blockchain to handle real-world business processes, expanding the utility of the Cardano ecosystem and driving wider adoption. It proves that blockchain can bring transparency, security, and efficiency to businesses while reducing costs and improving operations.

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

Positive Impact on the Cardano Community

1. Value to the Cardano Community

This project will showcase Cardano’s potential to revolutionize business management by automating critical processes such as financial tracking, employee payroll, and document management. By providing a real-world use case, it will strengthen Cardano's reputation as a blockchain capable of handling complex and high-value business transactions. This solution will drive adoption, increase transaction volume on the Cardano blockchain, and position Cardano as the go-to platform for decentralized business solutions.

2. How We Will Measure Impact

Quantitative Metrics

• Business Adoption: The number of businesses using the platform to manage finances, employees, and documents.
• Transaction Volume: The total value of financial transactions processed through the platform’s smart contracts.
• Payroll Automation: Number of employees paid through the platform and the total amount disbursed in automated payroll.
• Document Management: The number of documents stored and managed on the blockchain and the reduction in approval time compared to traditional methods.

Qualitative Metrics

• User Feedback: Collect feedback from businesses and employees on the platform's usability, efficiency, and transparency in managing financial and HR operations.
• Business Efficiency Gains: Measure improvements in administrative costs and time savings for businesses using the platform, as well as reduced errors in payroll and document handling.

3. Sharing Outputs and Opportunities

• Open Source Code: The entire platform will be made available in an open-source repository, allowing developers to review, contribute, and reuse the code for other projects.
• Community Updates: We will regularly share progress updates, case studies, and usage metrics with the Cardano community through forums, social media, and Cardano development channels.
• Partnerships and Collaborations: We will actively seek partnerships with businesses, financial institutions, and HR service providers to scale the platform and drive further adoption within the Cardano ecosystem.
• Educational Resources: We will create guides and tutorials on using the platform for businesses and developers, making it easy for other organizations to implement similar solutions.

Long-Term Impact

The platform will increase trust in blockchain technology for enterprise solutions, making Cardano a preferred blockchain for businesses. As more companies adopt the platform for managing core functions, this will generate consistent transaction volumes, encourage new projects to be built on Cardano, and expand the ecosystem. By proving the efficiency and security of decentralized business management, this project will set a precedent for future innovations and integrations on the Cardano blockchain.

The success of this project will demonstrate how blockchain technology can solve everyday business challenges while highlighting the unique benefits of Cardano for decentralized, transparent, and efficient business processes.

[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?

1. Team Expertise:

Our team is composed of experienced blockchain developers, smart contract engineers, and business process experts with extensive backgrounds in building decentralized applications (dApps) and enterprise solutions. We have a deep understanding of Cardano’s blockchain, having worked on multiple projects that involve smart contract development, financial automation, and secure document management.

Core Capabilities Include

• Blockchain Development: Expertise in writing secure and scalable smart contracts using Plutus and Haskell for automating financial transactions, payroll, and document workflows.
• Enterprise Systems Knowledge: Our team includes professionals with experience in business management and HR operations, giving us a deep understanding of how businesses manage finances and documents.
• Security & Compliance: Experience in ensuring legal compliance and security through decentralized platforms, including integrating audit trails and secure data management.

2. Feasibility Validation

To ensure the feasibility of our approach, we will take the following steps:

• Proof of Concept (PoC): Develop a Proof of Concept to demonstrate the core features of the platform, such as automated financial transactions, payroll management, and document handling. This will validate the technical approach and allow us to refine the solution.
• User Testing with Businesses: We will onboard a select group of businesses to test the platform in a controlled environment, gathering feedback to improve the user interface, functionality, and overall user experience.
• Security Audits: A third-party security audit will be conducted to ensure the integrity and safety of smart contracts, especially those managing sensitive financial data and business documents.

3. Fund Management and Accountability

To ensure that we manage funds responsibly and maintain high levels of trust and accountability

• Milestone-Based Funding: We will adopt a milestone-based funding model, where funds are released based on the successful completion of key development milestones (e.g., PoC completion, security audit, platform launch).
• Transparent Reporting: Regular updates, financial reports, and progress reports will be provided to the Cardano community and the Project Catalyst team to ensure transparency in how funds are used.
• Experienced Financial Management: Our team includes financial experts with experience in managing project budgets and allocations. All expenditures will be documented and tracked, ensuring proper use of resources.

4. Proven Track Record

Our team has successfully delivered blockchain projects in the past, including decentralized finance (DeFi) platforms, smart contract solutions, and blockchain-based document management systems. We have a proven track record of completing projects on time and within budget, with a strong focus on security, scalability, and user adoption.

By leveraging our technical expertise, enterprise knowledge, and commitment to transparency, we are well-positioned to deliver this project with high levels of trust, accountability, and impact. Through careful planning, phased development, and user testing, we will ensure the platform is both feasible and valuable for businesses and the Cardano community.

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

Proof of Concept (PoC) Development

• Description: Develop the initial Proof of Concept to showcase core functionalities such as automated financial transactions, payroll management, and document handling using smart contracts.
• Acceptance Criteria:
• Successful creation of smart contracts for managing financial transactions and employee payroll.
• Basic document management system that allows document upload, storage, and approval using smart contracts.
• User interface (UI) developed for business owners to interact with the system.
• Feedback collected from internal testing.
• Estimated Completion: 3 months

Security Audit and Platform Optimization

• Description: Conduct a thorough third-party security audit of the smart contracts and optimize the platform based on audit results and initial user feedback.
• Acceptance Criteria:
• Smart contracts successfully audited with any vulnerabilities identified and addressed.
• Platform optimized for performance, including security improvements and additional features requested by early users.
• Estimated Completion: 1 month after PoC

Pilot Program with Selected Businesses

• Description: Launch a pilot program with a select group of businesses to test the platform in a real-world environment, including financial transactions, employee payroll automation, and document management.
• Acceptance Criteria:
• At least 5 businesses successfully onboarded and using the platform for live financial management and document handling.
• User feedback collected to further refine and improve the platform.
• Metrics collected on transaction volume, payroll automation, and document approvals.
• Estimated Completion: 2 months

 Full Platform Launch and Marketing Campaign

• Description: Deploy the platform for public use and initiate a marketing campaign to onboard more businesses, promote platform adoption, and build awareness within the Cardano ecosystem.
• Acceptance Criteria:
• Platform is fully operational with support for multiple businesses and users.
• Marketing campaign launched across digital channels, targeting businesses and professionals.
• Support system in place to handle onboarding and user inquiries.
• Estimated Completion: 2 months

Project Close-out Report and Video

• Description: Provide a detailed final report and video summarizing the project’s achievements, including platform impact, user adoption metrics, and lessons learned.
• Acceptance Criteria:
• Final project report shared with the Cardano community, including metrics on adoption, financial management, and user satisfaction.
• Close-out video produced, showcasing platform functionality and outcomes.
• Estimated Completion: 1 month post-launch

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

1. Leykun (Project Lead & Smart Contract Developer)

• Role: Lead the project’s overall development, oversee smart contract creation, and ensure integration with the Cardano blockchain.
• Scope: Supervise the project timeline, guide the smart contract team, and manage the development process for financial management, payroll, and document automation.

1. Smart Contract Developer

• Role: Design, develop, and optimize the smart contracts for automating payments, employee management, and document handling.
• Scope: Create and implement smart contracts that handle incoming/outgoing transactions, employee payroll, and document storage using Plutus on Cardano.

1. Backend Developer

• Role: Build the platform’s backend infrastructure and ensure integration with smart contracts and the blockchain.
• Scope: Manage server-side logic, data storage, and system performance, ensuring smooth interaction between the front end and Cardano.

1. Frontend Developer

• Role: Develop a user-friendly interface for business owners and employees to interact with the platform.
• Scope: Design and implement the platform’s UI/UX, allowing users to easily manage financial transactions, payroll, and documents.

1. Security Auditor

• Role: Conduct third-party security audits to ensure the integrity and security of smart contracts and the platform as a whole.
• Scope: Review and test the smart contracts and platform for potential vulnerabilities, ensuring a secure environment for businesses.

1. Marketing and Community Manager

• Role: Lead the marketing and outreach efforts to onboard businesses and promote the platform.
• Scope: Design and execute marketing campaigns, manage community engagement, and support user onboarding to ensure smooth adoption.

1. Compliance and Legal Advisor

• Role: Ensure legal compliance with business regulations, labor laws, and financial requirements.
• Scope: Advise on regulatory challenges, smart contract legalities, and data management to ensure compliance and minimize risk.

Additional Recruitment

We plan to recruit additional team members with the following skills:

• Blockchain Developer (Plutus/Haskell): To assist with scaling the smart contracts for financial and document management.
• HR/Payroll Expert: To ensure the payroll system meets industry standards and business needs, providing expertise in employee management automation.

We have engaged with core team members and relevant resources on technical groups such as Discord and Telegram, ensuring they are ready to support the project from the start. All key team members have confirmed their commitment and availability, ensuring that the project can be delivered within the proposed timeframe.

All participants are aware of their roles and responsibilities, and necessary consent has been obtained where required. We have also ensured that third-party partners, such as security auditors and compliance advisors, are prepared to support the project when necessary.

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

Total Requested Funding: 100,000 ADA

1. Development Costs:

• Smart Contract Development:
• Creation and optimization of Plutus-based smart contracts for financial management, payroll automation, and document handling.
• Cost: 20,000 ADA
• Frontend Development:
• Development of a user-friendly interface for businesses to manage financial transactions, employee payroll, and document management.
• Cost: 12,000 ADA
• Backend Development:
• Infrastructure for managing data, interacting with smart contracts, and securely processing transactions.
• Cost: 10,000 ADA
• UI/UX Design:
• Designing a simple and intuitive user experience to ensure smooth adoption and ease of use for companies and employees.
• Cost: 5,000 ADA

2. Third-Party Services:

• Security Audit:
• Comprehensive third-party audit of the smart contracts and platform to ensure security, reduce vulnerabilities, and maintain data integrity.
• Cost: 8,000 ADA
• Compliance & Legal Services:
• Legal consultation to ensure regulatory compliance for financial transactions, payroll, and document management.
• Cost: 6,000 ADA
• Server & Cloud Hosting:
• Hosting services to maintain the platform’s backend and ensure scalability and availability.
• Cost: 5,000 ADA

3. Marketing & Promotion:

• Publicity Campaign:
• Digital marketing campaign to raise awareness and onboard businesses to the platform, including social media and content marketing.
• Cost: 12,000 ADA
• Community Engagement & User Onboarding:
• Educational resources and onboarding materials to help businesses adopt the platform and integrate it into their daily operations.
• Cost: 7,000 ADA

4. Project Management & Reporting:

• Project Management:
• Overseeing development, managing timelines, and ensuring resources are properly allocated throughout the project.
• Cost: 8,000 ADA
• Documentation & Reporting:
• Preparing detailed reports, documentation, and guides for businesses and the Cardano community, including tutorials on how to use the platform.
• Cost: 3,000 ADA
• Final Project Close-out Video:
• Production of a video summarizing the project’s success, outcomes, and future roadmap, to be shared with the Cardano community.
• Cost: 4,000 ADA

5. Maintenance & Support:

• Ongoing Maintenance:
• Continuous support for the platform post-launch, including regular updates, bug fixes, and performance improvements.
• Cost: 5,000 ADA
• Customer Support:
• Providing support services for businesses and employees using the platform, including live chat and technical assistance.
• Cost: 3,000 ADA

Total Budget Breakdown:

• Development Costs: 47,000 ADA
• Third-Party Services: 19,000 ADA
• Marketing & Promotion: 19,000 ADA
• Project Management & Reporting: 15,000 ADA
• Maintenance & Support: 10,000 ADA

Grand Total: 100,000 ADA

This budget ensures efficient use of funds to cover the development, launch, and maintenance of the decentralized company management platform. Should additional funding be needed, we will explore partnerships or alternative funding sources.

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

Value for Money for the Cardano Ecosystem:

The cost of this project represents strong value for money by providing a scalable solution to automate and secure business management processes, driving real-world adoption of Cardano’s blockchain. The budget is carefully crafted to align with industry standards for blockchain development, security, and marketing, ensuring that every ADA is used efficiently to create long-term value for the ecosystem.

1. Cost Justification

• Development Costs

• Smart Contract Development: Smart contracts for automating company finances, payroll, and document management require specialized knowledge of Plutus/Haskell. The budget reflects industry rates for blockchain developers, which typically range from $100 to $200 per hour. We’ve allocated a competitive rate that ensures secure, scalable smart contracts without overextending costs.
• Frontend and Backend Development: We’ve budgeted these based on current freelance rates for experienced developers. Freelancers in these roles typically charge between $50 and $150 per hour, depending on their level of expertise. This ensures that the platform is built to industry standards while maintaining cost efficiency.

• Third-Party Services

• Security Audit: The cost of third-party security audits is proportional to industry norms, typically between $10,000 and $15,000 for a full review of smart contracts and platforms. This ensures the system is safe for business use, reducing the risk of vulnerabilities or attacks.
• Legal Compliance: Regulatory compliance is critical when managing employee payroll and financial transactions. Legal services are a necessary investment, and the cost is comparable to typical legal fees for ensuring compliance with business regulations.

2. Long-Term Value

• Scalable Solution for Businesses: The platform provides a robust, scalable solution that can handle companies of varying sizes. As the platform grows, more companies will adopt it, leading to increased ADA transactions and further integration of Cardano into everyday business activities.
• Reduced Costs for Businesses: By automating payroll, financial tracking, and document handling, businesses will reduce administrative costs, benefiting from increased transparency and efficiency. This will drive further adoption, as businesses seek to lower overhead and increase operational speed.
• Increased Cardano Adoption: This project offers a real-world use case that can drive more companies to adopt Cardano for managing their business processes. As more businesses join the platform, the Cardano ecosystem benefits from increased activity and visibility in the enterprise sector.

3. Responsible Fund Management

The project is structured to ensure that funds are released in line with the achievement of key milestones, ensuring accountability. Each cost element is aligned with the typical market rates for blockchain projects, legal services, and marketing, ensuring the best use of funds to maximize impact. By maintaining transparency in reporting and progress, the project will show clear returns in value and outcomes.

The total budget of 100,000 ADA is proportional to the scope and complexity of the solution, offering significant long-term value for the Cardano community by promoting blockchain adoption within enterprises, providing utility for ADA, and showcasing Cardano as a secure and efficient platform for business automation.