Nexus - Empowering Africa Through Cardano Backed Scam Prevention

[GENERAL] Name and surname of main applicant

Ammanuel Mekonnen

[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

Joel Mekonnen , Senior Fullstack developer

LinkedIn : https://www.linkedin.com/in/joel-mekonnen356778/

GitHub : https://github.com/JoelMekonnen

Email : joelmek@gmail.com

[GENERAL] Requested funds in ada

100000

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

5

[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)

Nexus leverages Cardano’s blockchain for scam reporting, fund recovery collaboration, and education, ensuring transparency, security, and mass crypto adoption across East Africa and beyond.

[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

[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 released under the MIT License, ensuring transparency and granting developers the freedom to use, modify, and distribute the code without restrictions. The code will be hosted on GitHub, providing an open and collaborative platform for engagement with the community.

[METADATA] Horizons

Security

[SOLUTION] Please describe your proposed solution

The problem of online scams and fraud is becoming more prevalent, especially in regions where technological literacy and awareness about crypto risks are still developing. In East Africa, peer-to-peer (P2P) crypto adoption is growing rapidly, but with that comes an increase in scams that erode trust, harm individuals, and slow down the adoption of blockchain technologies.

Nexus offers a blockchain-backed solution that empowers users by providing an immutable, decentralized platform for scam reporting and collaboration. Key features of Nexus include:

On-Chain Scam Reporting:

• Users will be able to report fraudulent activities directly on the Cardano blockchain. Each report will be stored immutably, ensuring that scam data is transparent, traceable, and accessible to the public. By leveraging Cardano’s decentralized nature, scam reports will be tamper-proof and permanently stored, providing historical data that cannot be altered or removed.

Smart Contract Automation for Verification:

• We will utilize Cardano’s smart contracts to automate the verification of scam reports. Through a decentralized review process, scam reports will be validated and flagged, ensuring a trustless system for users to rely on when identifying legitimate threats.

Community Collaboration for Fund Recovery:

• Nexus will provide a space for victims to collaborate and share information on fraudulent schemes. This on-chain collaboration will enhance the chances of fund recovery and prevent further exploitation by fraudsters. Users will be able to work together in a transparent, decentralized manner.

Education and Awareness:

• Nexus will focus heavily on educating users about crypto-related scams and the best security practices. By promoting blockchain literacy and scam prevention, Nexus will help develop a more secure ecosystem in East Africa.

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

The integration of Nexus within the Cardano ecosystem will bring several impactful benefits:

Increased Blockchain Trust and Transparency:

Nexus will showcase Cardano’s ability to deliver transparent, decentralized solutions to real-world problems. By storing scam reports on-chain, users will have access to immutable and publicly accessible data, building trust in Cardano’s capabilities. This positions Cardano as a pioneer in security and transparency, especially in emerging markets.

Enhanced User Protection:

With scam reports being verified and stored immutably on the blockchain, users will have a reliable resource for checking the legitimacy of projects and transactions. This will reduce the number of people falling victim to fraud, especially in regions like East Africa, where blockchain technology is still gaining traction.

Fostering a Safer Ecosystem:

By promoting the use of Cardano for scam prevention, Nexus contributes to a safer, more resilient ecosystem. Users who feel protected and informed are more likely to adopt blockchain technology, leading to increased transaction volume and network utilization for Cardano.

Global Expansion Potential:

Though Nexus will initially focus on East Africa, the platform can scale globally. As scams are a universal problem in the crypto space, the features provided by Nexus will be relevant across different geographies, further expanding Cardano’s reach and utility.

[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?

Our capability to deliver this project with high levels of trust and accountability is deeply rooted in the collective expertise and experiences of our team members. Many of our developers and engineers have a rich background in working on antivirus projects, where they have honed their skills in combating digital threats and ensuring the security of users' systems. Drawing from this wealth of knowledge, they possess a comprehensive understanding of security principles, vulnerabilities, and best practices that are essential for safeguarding users against scams and fraudulent activities.

Furthermore, our team's commitment to accountability is underscored by our personal experiences and the challenges we've encountered firsthand. As individuals who have experienced the distressing consequences of falling victim to scams, we intimately understand the detrimental impact it can have on one's financial stability and peace of mind. Living in environments where blockchain and cryptocurrency adoption may still be met with skepticism or regulatory uncertainty, we recognize the urgent need to establish a secure and trustworthy ecosystem for users.

Our long-term vision for this project extends beyond mere technological solutions. While we are dedicated to developing robust security measures and materials for our app, we also aspire to cultivate a culture of vigilance, education, and empowerment within the Cardano community. By sharing our insights, lessons learned, and practical advice, we aim to equip users with the knowledge and tools they need to navigate the complex landscape of blockchain technology and cryptocurrency with confidence and resilience.

In essence, our commitment to preventing individuals from falling victim to scams is not just a professional obligation but a deeply personal mission. We are driven by the desire to spare others from the hardships and setbacks we've endured, and to pave the way for a future where all individuals can participate in the blockchain revolution with trust, security, and peace of mind.

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

Milestone 1: Research and UI/UX Design (4 weeks)

Milestone Outputs:

• Completed UI design for the application.
• Document outlining all requirements and features needed for the application.

Acceptance Criteria:

• Completion of UI design by the end of Week 4.
• Document outlining all requirements and features submitted by the end of Week 4.

Milestone 2: App Development (6 weeks)

Milestone Outputs:

• Delivery of a working minimum viable product (MVP) as outlined in the research paper.

Acceptance Criteria:

• Development of the application based on UI/UX design from Week 4 to Week 10.
• Delivery of the MVP by the end of Week 10.

Milestone 3: Beta Testing and Marketing (6 weeks)

Milestone Outputs:

• Commencement of beta testing in Ethiopia.
• Implementation of marketing initiatives to promote app usage among target users.

Acceptance Criteria:

• Beta testing initiated by the end of Week 14.
• Marketing initiatives implemented and ongoing from Week 14 to Week 16.

Milestone 4: Closing Video and Report (4 weeks)

Milestone Outputs:

• Production of a closing video summarizing project journey and achievements.
• Submission of final project report outlining key findings, insights, and recommendations.

Acceptance Criteria:

• Closing video produced and finalized by the end of Week 20.
• Final project report submitted by the end of Week 20.

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

1.Ammanuel Mekonnen , UI/UX Designer and project lead 

LinkedIn : https://www.linkedin.com/in/amajo04/

Website : Aman.ethiospark.com

Email : Ehailebalmore@gmail.com

2.Joel Mekonnen , Senior Fullstack developer

LinkedIn : https://www.linkedin.com/in/joel-mekonnen356778/

GitHub : https://github.com/JoelMekonnen

Email : joelmek@gmail.com

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

Milestone 1: Research and UI/UX Design (20,000 ADA)

Completed UI design for the application = 10,000 ADA

Leasing and Acquiring necessary infrastructures = 10,000 ADA

Milestone 2: App Development (40,000 ADA)

Development of the application based on UI/UX design from Week 7 to Week 18 = 10,000 ADA

Delivery of the MVP by the end of Week 18 = 20,000 ADA

 

          2 Developers (2 months): 18,000 ADA

          Testing and Quality Assurance (2,000 ADA)

Milestone 3: Beta Testing and Marketing (32,000 ADA)

Commencement of beta testing in Ethiopia = 10,000 ADA

Implementation of marketing initiatives to promote app usage among target users = 22,000 ADA

Milestone 4: Closing Video and Report (8,000 ADA)

Production of a closing video summarizing project journey and achievements = 8,000 ADA

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

In many jurisdictions, the prevalence of scams and fraudulent activities within the cryptocurrency industry has raised concerns among regulators and policymakers. By proactively addressing these issues through the scam prevention application, the Cardano ecosystem demonstrates its commitment to regulatory compliance and consumer protection, mitigating regulatory risks and fostering a favorable operating environment for continued growth and innovation.

Nexus will prioritize the well-being of the Cardano community by providing a centralized platform for reporting scams, sharing information, and educating users about potential risks. By empowering users to identify and avoid scams, the application fosters a safer and more resilient community, ultimately contributing to the sustainability and reputation of the Cardano ecosystem.