Goparity x Cardano: Crowdlending for Greater Social and Environmental Impact

[GENERAL] Name and surname of main applicant

Power Parity SA (owner go Goparity platform)

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

Entity (Incorporated)

[GENERAL] Co-proposers and additional applicants

Nuno Brito Jorge

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

4

[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)

A Proof of Concept to integrate Cardano into Goparity, exploring smart contracts, decentralized identity, and tokenization to enhance transparency, security, and scalability in impact investing.

[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

We will provide a Github/Gitbook open source repository to outline the different phases of the project. Research and knowledge base will be publicly available as feasible, according to laws and regulations. Our smart contracts and project tracking components might be open-source under an MIT license, allowing community contributions and greater transparency.

[METADATA] Horizons

Business Services

[SOLUTION] Please describe your proposed solution

Goparity is a fintech platform that democratizes access to impact investment, and connects people with impactful projects across many geographies and verticals. It’s a relatively new area, where we are learning as we go along, constantly trying to improve processes and procedures. 

In that spirit, we want to explore the possibility that Cardano blockchain technology can help ensure/increase the immutability,  transparency, accountability, traceability of the impact and investment data, namely by tackling some of the challenges around:

1. Safety, security and immutability of the data
2. Attacks on investor wallets
3. Attempts at user fraud
4. Confidentiality and integrity of project data
5. Digital ID and reputation (digital immutable profile)
6. Investor reputation score
7. Project credit rating
8. Smart contracts
9. Digitalization of contracts
10. Automated project payments
11. Loan release - InterPlanetary File System (IPFS)
12. Impact verification
13. Impact Management System (IMS)
14. Show the aggregated impact to investors
15. What if the quality of the raw data is the real limitation?

We are working hard to create an increasingly transparent and trustworthy environment, and want to test the possibilities that blockchain can offer to address current limitations that can hinder investor confidence.

This project will enable a proof of concept to bring Cardano to Goparity’s platform, improving transparency, funds management, and overall competitiveness.

With Cardano’s blockchain, Goparity can provide real-time updates on where funds go, automate payments, and allow investors to buy and sell shares in loans. 

This pilot project will position Goparity as an industry pioneer by showing how blockchain can benefit crowdlending and impact investing.

Goparity will utilize Cardano’s smart contracts to automate investment processes and ensure traceable, transparent transactions. Decentralized identity solutions like Atala PRISM will streamline compliance with KYC/AML regulations, improving investor trust. Tokenizing project shares allows fractional ownership, enhancing accessibility and scalability.

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

The expected impact of the pilot:

1. Enhanced Investor Trust:

Real-time tracking of investments will help Goparity build stronger relationships with its investors, showing them the impact of their contributions.

1. Streamlined Operations:

By further automating payments and other tasks, Goparity can lower costs and focus on expanding its platform and impact.

1. Competitive Edge:  

With blockchain, Goparity can attract new investors looking for more transparent and flexible options, setting it apart from other platforms.

1. Growth Potential:  

If this pilot succeeds, it can be rolled out across the entire Goparity platform, paving the way for more projects and bigger impact.

[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?

Goparity has been around since 2017 and is an impact crowdlending platform that connects tens of thousands of people with opportunities to finance projects with a positive social and environmental impact across sustainable energy, blue economy, social innovation and more.

Our Impact Finance App democratizes access to impact lending, increases financial literacy across multiple geographies, and empowers individuals and companies to finance projects that contribute to the UN SDGs, while making a fair financial return

Our 45 000 users, from 72 different nationalities, have invested more than €42M across 375 projects in 18 countries and 3 continents - https://goparity.com/invest/funded-projects.

Regarding impact: 4 739 jobs created, 89 600 people empowered, 1 609ha of land regenerated, and 32 287 MWh of clean electricity and 29 655 tonnes CO2 emissions avoided yearly.

Goparity’s commitment to positive change makes it an ideal candidate for integrating Cardano to enhance its platform for greater real world impact.

The Goparity team has a strong understanding of the crowdlending market and what it takes to support impactful projects.

Partnering with experts from Cardano, they’re ready to integrate blockchain smoothly and effectively. This will enable them to create a user-friendly system that aligns with Goparity’s mission to drive sustainable growth and trust in impact investment.

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Razali Samsudin, Founder of Sustainable ADA and Impact Web3, brings 17+ years of experience in education, sustainable development and impact work. Co-author of the first Cardano Impact Report 2023, Razali has been a key player in driving the Cardano ecosystem and community towards positive impact. He led work on implementing SDG frameworks, and has been instrumental in driving sustainability within blockchain projects and synthesizing impact data into actionable insights. 

His team have successfully executed multiple Project Catalyst initiatives, such as research in SDG alignment, impact measurement tool development, and cross-chain collaborations, showcasing their capability to handle complex projects with high levels of trust and accountability. Having cultivated established partnerships with leading organizations, this further strengthens our network and resource mobilization capabilities.

 

Blockchain Developer (We have relationships with the leading builders in the Cardano ecosystem eg Metalamp, Gimbalabs, Climate Neutral Cardano Alliance, Metera Protocol and more) – Smart contract and blockchain integration

Compliance Specialist TBC – Ensuring KYC/AML compliance

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

A: Milestone outputs

• Completed system architecture and technical specifications for Cardano integration.
• Defined strategy for utilizing Cardano native tokens within GoParity’s platform.
• Project plan with timelines, resource allocation, and deliverables for the pilot phase.

B: Acceptance criteria

• Approval of system architecture and Cardano native token strategy by project stakeholders.
• Completed project plan reviewed and approved by the team.

C: Evidence of milestone completion

• System design documents and token strategy uploaded to project repository.
• Signed approval document from stakeholders confirming satisfaction with the planning outputs.

A: Milestone Outputs  

• Deployment of Cardano native tokens to enable tokenized investments on the platform.
• Development of a functional user interface (UI) prototype for the pilot phase.
• Initial setup of the Cardano blockchain infrastructure for the pilot.

B: Acceptance Criteria 

• Successful deployment of native tokens, confirmed through internal testing.
• UI prototype completed and reviewed by the team and selected pilot users.

C: Evidence of Milestone Completion 

• Token deployment records and UI prototype demo uploaded to the project repository.
• Internal test reports confirming native token functionality.

A: Milestone Outputs

• Completion of a security audit for smart contracts and transaction processes.
• User testing conducted with feedback collected on UI functionality and user experience.
• Technical documentation and user guides developed for pilot participants.

B: Acceptance Criteria

• Security audit completed with no critical vulnerabilities found.
• User feedback report indicating satisfactory experience with usability and functionality.

C: Evidence of Milestone Completion  

• Security audit report and user feedback survey results uploaded to the project repository.
• Documentation and user guides reviewed and approved by the project manager.

 A: Milestone Outputs  

• Launch of the pilot with active participants and support mechanisms.
• Analysis of pilot performance, collecting data on user activity and transaction success.
• Development of a scaling strategy and future roadmap based on pilot insights.

B: Acceptance Criteria 

• Pilot launched with at least 50 active users, successfully using the platform.
• Submission of a final report summarizing pilot results, user impact, and recommendations.

C: Evidence of Milestone Completion  

• Pilot launch metrics and user activity data shared with stakeholders.
• Final report and presentation slide deck uploaded to the project repository for review.

Final Milestone: *Project Completion Report and Video

Prepare and submit a comprehensive project completion report along with a video summarizing the project, its outcomes, and its impact on the Cardano community. This milestone ensures that the project is properly closed out and that all results are documented for the Catalyst community.

Milestone Output(s):

• A detailed project completion report including all milestones, outcomes, and financials.
• A summary video highlighting the event and its significance.
• Submission of all documentation to the Project Catalyst platform.
• 
  

Acceptance Criteria:

• Approval of the final report by the Project Catalyst team.
• Positive feedback from the Catalyst community on the summary video.
• Confirmation of project closure from Project Catalyst.

Final Milestone: *Project Completion Report and Video

Prepare and submit a comprehensive project completion report along with a video summarizing the project, its outcomes, and its impact on the Cardano community. This milestone ensures that the project is properly closed out and that all results are documented for the Catalyst community.

Milestone Output(s):

• A detailed project completion report including all milestones, outcomes, and financials.
• A summary video highlighting the event and its significance.
• Submission of all documentation to the Project Catalyst platform.
• 
  

Acceptance Criteria:

• Approval of the final report by the Project Catalyst team.
• Positive feedback from the Catalyst community on the summary video.
• Confirmation of project closure from Project Catalyst.

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

Goparity Cofounder and CEO:Nuno Brito Jorge

Goparity VP Investor Relations: Tiago Julião Neves

Cardano, Catalyst and Project Lead: Razali Samsudin

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

1. Research and Planning (1 Month): 20,000 ADA
2. Development and Integration (6 weeks): 80,000 ADA
3. Testing and Security Audits (1 Month): 30,000 ADA
4. Pilot Launch and Community Engagement (2 weeks): 10,000 ADA
5. Post-Pilot Review and Next Steps Planning (2 weeks): 10,000 ADA

Total Budget: 150,000 ADA

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

This project will attract new users to the Cardano ecosystem by showcasing its capabilities in real-world applications, particularly in sustainable finance. We will measure success through transaction transparency, user growth, and project funding rates, sharing outcomes via open-source repositories and community reports.