Blockchain System for Storing Assets and Distributing to Heirs

[GENERAL] Name and surname of main applicant

Tran Duc Long

[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)

7

[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 will develop a blockchain platform to securely store digital assets, enable automatic unlock based on time conditions after the owner's death, ensuring wishes are respected and minimizing disputes.

[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

Course materials, including code samples and learning resources, will be shared as open source on GitHub. Everyone and developers will be able to participate to contribute and improve the product collaboratively.

[METADATA] Horizons

Payments

[SOLUTION] Please describe your proposed solution

Secure and Transparent Asset Management on Cardano Blockchain Introduction our solution addresses the critical issue of securely managing and distributing digital assets after the owner passes away. Currently, the lack of a trusted system often leads to property disputes and loss of valuable digital assets. Leveraging Cardano’s decentralized blockchain, our product provides a secure and tamper-proof environment for users to securely store and manage their digital assets.

Smart Contract Automation for Asset Distribution : A key feature of our platform is the use of smart contracts to automate the distribution of assets based on pre-defined conditions, especially when the owner passes away.

Automated Asset Transfer : Users can set specific conditions, such as triggering a time lock or custom criteria, to transfer assets to designated heirs or beneficiaries. When the conditions are met, the smart contract automatically executes the asset transfer, reducing delays and ensuring a seamless process.

Key Features:

Function Overview Asset Locking Section: This function allows users who want to distribute assets to enter asset information with time conditions to be saved on the blockchain.

Asset Refund Function: If an asset distributor successfully locks the asset on the smart contract but does not meet the time condition, the distributor can fully refund the asset to their wallet.

Asset Unlock Function: When specific inheritance conditions (time) are met, the heir will sign a signature to unlock the asset to their wallet.

Customizable Distribution Rules Users can determine how their assets are distributed, allowing specific percentages to be divided among different beneficiaries or setting milestones (e.g. when an heir reaches a certain age).

User-friendly interface for asset owners and beneficiaries Our platform is designed to be intuitive and accessible for both asset owners and their heirs.

Owner Dashboard Asset : Owners can easily manage their digital assets, view current holdings, and set distribution conditions. The platform guides them to set up smart contracts to automate future asset transfers.

Heir Access Heirs : Beneficiaries can track the status of the assets they are entitled to and receive real-time updates on the distribution process. This transparency builds trust and ensures heirs are fully informed about their inheritance rights.

Document Storage : Users can securely store relevant legal documents, such as wills or instructions, on the platform to ensure that all necessary information is available when needed.

Tracking Impact and Performance : To measure the success of the platform, we will track the number of users who successfully manage and distribute their digital assets. User feedback will be collected to evaluate their experience and identify areas for improvement.

User Growth and Testimonials : By analyzing user adoption rates and collecting testimonials, we can demonstrate the real-world impact of the solution and continuously refine based on user needs.

Cardano Community Impact :Our platform demonstrates how the Cardano blockchain can be applied to real-world asset management use cases. As more users adopt the platform, it will demonstrate the practical benefits of blockchain technology, contributing to wider adoption and trust in Cardano. Furthermore, this will help people become more familiar with the concept of cryptocurrencies in regions where the regulatory framework for digital assets is still developing.

Key Benefits of the Platform Transparency:

Blockchain-based records ensure that all asset transactions are visible and traceable, reducing the possibility of disputes.

Security: The immutability and decentralization of the Cardano blockchain ensures that digital assets are

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

The positive impact of our project on the broader Cardano community will be significant. By providing a secure and efficient way to manage and distribute digital assets after the owner's death, we will enhance user trust in blockchain technology and its applications in real-world scenarios.

We plan to measure our impact both quantitatively and qualitatively. Quantitatively, we will track key metrics such as the number of active users, successful asset distributions, and user engagement rates. Qualitatively, we will gather user feedback and testimonials to understand their experiences and the benefits they gain from using our platform.

The success of our project will bring value to the Cardano community by showcasing how blockchain can solve real-life problems, thus encouraging more users to adopt Cardano for asset management and estate planning. Additionally, we will share our outputs and insights through community workshops, webinars, and social media channels, engaging with the Cardano community to foster collaboration and knowledge sharing. This will help others learn from our experiences and encourage further innovation within the Cardano ecosystem.

[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?

Technical Expertise and Project Implementation

Our team's high level of reliability and responsibility in implementing this project started from our extensive expertise and desire to learn about blockchain technology and smart contract development. We use React for web development, Aiken for smart contracts and use Lucid and Blockfrost APIs. With these things, we ensure that we can build a secure, transparent and efficient platform for digital asset management.

Blockchain knowledge: Our team has extensive experience with the Cardano ecosystem, having participated in Hackathons and won third place with this idea and this time we will improve the project with sharper features ensuring that the project will be built with the most robust and optimized security protocols.

1.Validate Feasibility Through Rigorous Testing

To validate the feasibility of our approach, we plan to implement a multi-phase testing strategy, focusing on prototype testing, user experience, and security measures as mentioned in the milestones section.

Prototype Testing: The initial development phases will include prototyping key functionalities, such as asset management and smart contract interactions through a front-end interface. This will allow us to identify potential issues and address them before full deployment.

User Feedback Sessions: We will conduct community calls to solicit user feedback, gathering insights from real users to understand their needs and ensure that the platform effectively meets those needs. Project improvements will be based on user feedback, from which we will build the most complete product

Security Audit: We will conduct internal and third-party security audits of our smart contracts to ensure that asset distribution processes are as safe and secure as possible.

2.Financial Management and Accountability

We will be responsible for maintaining transparency and accountability as the project develops. Our approach to financial management will be built around clear reporting and responsible budgeting.

Regular Budget Review: We will conduct regular budget reviews and provide stakeholders with detailed progress reports to ensure that funds are spent appropriately and in line with the project's goals.

3.Building Trust with Cardano Users and Community

Our team's track record of delivering successful blockchain projects reinforces our commitment to transparency and trustworthiness. With selective standards for communication, transparent testing and auditing, our products will provide secure, user-friendly tools, we aim to build trust and a good product in the Cardano community.

Long-term adoption: We believe that our transparent and secure platform will not only meet the needs of our users but also contribute to the expansion of the Cardano ecosystem.

Open source commitment: We will share some of our code and development process with the wider blockchain community, we aim to build partnerships and trust.

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

Milestone 1: Project planning and analysis(1 months)

1. Identify user input/output threads: Understanding user needs to create effective interfaces.
2. Define architectural design and UI/UX: Establishing the overall structure and user experience to ensure intuitive navigation.
3. Project management: Organizing and controlling resources and tasks to align the team’s efforts.

Milestone 2 : Platform Development (1 months)

1. FrontEnd development (React.js): Building the client-side interface that users will interact with.
2. Design UI/UX for the platform .
3. Development Backend(intergrade API, design Database) .
4. Project management: Continuing to manage resources effectively during this critical development phase.

Milestone 3: FrontEnd Development , BackEnd Development and Smart Contract Design (2 months)

1. BackEnd development: Creating the server-side logic and database management to support the application.
2. Frontend development: Develop user interface.
3. Smart contract design: Designing contracts that will govern asset distribution and management.
4. Cloud hosting and Blockfrost API package fee: Setting up infrastructure for scalability and integration with Cardano.
5. Project management: Ensuring tasks are organized and resources are allocated properly.

Milestone 4: Smart Contract Development and Testing (1 months)

1. Smart contract development using Aiken and Lucid: Coding the smart contracts to ensure they are secure and efficient.
2. Launch a small program lab on Preview TestNet: Testing the application in a safe environment to identify any issues.
3. Collect feedback: Engaging users to gather insights on their experience and necessary improvements.
4. Project management: Monitoring progress and making adjustments as needed.

Milestone 5: Production Rollout (1 months)

1. Make necessary modifications to the pilot version based on feedback: Refining the application for public release.
2. Launch the production version on mainnet: Deploying the final version for all users.
3. Run the 1st marketing campaign: Building awareness and interest in the project.
4. Public the source codes on GitHub: Ensuring transparency and encouraging community collaboration.
5. Project management: Final oversight to ensure a successful launch.

Milestone 6: Post-Launch Review and Future Planning (1 months)

1. Evaluate project success: Measuring outcomes against initial objectives.
2. Gather user feedback post-launch: Understanding user satisfaction and areas for improvement.
3. Plan for future enhancements: Identifying new features or changes based on user input.
4. Project management: Documenting lessons learned and preparing for ongoing support and updates.

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

Team Members and Roles

Mr. Tran Duc Long - Project Manager/Technical Lead

• Experiences:
• Frontend: HTML, CSS, JavaScript, ReactJS
• Blockchain & Sustainability Researcher
• 1 year of experience building and operating on the Cardano Blockchain platform
• Email : longtda5k48gtb@gmail.com
• LinkedIn : https://www.linkedin.com/in/long-tranduc-9745592a8/
• GitHub : https://github.com/longdevbf

Mr. Phung The Anh - Blockchain Developer

• Responsibilities : Collaborating with Mr. Tran Duc Long on smart contract development, focusing on security and efficiency in blockchain solutions.
• Email : anh018031@gmail.com
• LinkedIn : https://www.linkedin.com/in/the-anh-phung-ab0167329/
• GitHub : https://github.com/ptanh05

Mr. Pham Van Giap - Frontend Developer

• Responsibilities : Developing the user interface using React.js, ensuring a seamless and engaging user experience for the application.
• Email : Phamg501@gmail.com
• LinkedIn : https://www.linkedin.com/in/giap-pham-778224318/
• GitHub :https://github.com/Giaputc

Mr. Ngo Van Tuan - Backend Developer

• Experiences:
• Frontend: HTML, CSS, JavaScript, ReactJS
• Backend: Spring Boot
• Email : vantuan132005@gmail.com
• LinkedIn : https://www.linkedin.com/in/ng%C3%B4-v%C4%83n-tu%C3%A2n-127b2a331/
• GitHub : https://github.com/vantuann205

Mr. Pham Ngoc Duy - UI/UX Designer

• Responsibilities: Creating the overall design and user experience of the application, ensuring that the interface is user-friendly and visually appealing.
• Email : phamduyngoc190@gmail.com
• LinkedIn : https://www.linkedin.com/in/duy-ph%E1%BA%A1m-ng%E1%BB%8Dc-49221630b/
• Github : https://github.com/NgocDuyMS

Future Hiring Needs

If we plan to hire additional team members, we will seek individuals with skills in:

• DevOps: For cloud hosting and deployment
• Quality Assurance (QA): To ensure the product is thoroughly tested before launch
• Marketing Expertise: To assist in outreach and promotion

Engagement with Relevant Organizations

We have not yet engaged with external organizations or community members relevant to this project. However, we recognize the importance of building these relationships for successful implementation and resource availability.

Communication Channels

We are active in relevant technical communities, including Discord and Telegram, to connect with other developers and resources in the Cardano ecosystem.

Acknowledgment of Project Participants

All team members are aware of their roles and responsibilities. We will ensure transparency and accountability throughout the project lifecycle.

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

Summarize

Milestone 1: Planning and Prepaired(1 month)

Estimated cost for this phase: 3000 ADA

Milestone 2: Frontend , Backend, Smartcontract development (2 months)

Estimated cost for this phase: 11000 ADA

Milestone 3: Prototype Testing and User Feedback (1 month)

Estimated cost for this phase: 3500 ADA

Milestone 4: Official Game Launch Preparation (1 month)

Estimated cost for this phase: 2000 ADA

Milestone 5: Mainnet Deployment (1 month)

Estimated cost for this phase: 3000 ADA

Milestone 6: Post-Launch Marketing and Community Engagement (1 month)

Estimated cost for this phase: 3500 ADA

Summary of Total Costs

Total ADA for Project: 26,000 ADA

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

The project's costs reflect value for money for the Cardano ecosystem by utilizing resources effectively and setting reasonable prices that align with student financial capabilities. We have adjusted the costs to reflect the average salary for intern positions in the IT sector in Vietnam, based on data from job platforms like TopDev.

The cost for each phase of the project has been carefully considered to ensure that it meets the project's requirements while remaining within the budget of students. Additionally, we are committed to maximizing available resources and minimizing expenses through the use of open-source tools and free services.

This demonstrates that the project not only provides value to the Cardano community but also creates opportunities for students to develop skills and gain practical experience, while contributing to the blockchain ecosystem.