Ownership verification

[GENERAL] Name and surname of main applicant

Adebobola Adenle

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

Entity (Not Incorporated)

[GENERAL] Co-proposers and additional applicants

Jeremiah Seun Eriola

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

8

[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 platform for registering, verifying, and transferring property ownership.
• Using blockchain for secure, decentralized record-keeping.
• AI-powered recovery and theft prevention mechanisms.

[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.”

Yes, Boltin has dependencies on other organizations to ensure its effectiveness and success. Here are some key dependencies:

Technology Partnerships: 

Boltin will rely on blockchain and AI technology providers to build its platform. Collaborations with established tech firms can facilitate access to robust infrastructure, APIs, and expertise in blockchain solutions.

For instance, partnerships with blockchain networks like Cardano or Ethereum would provide the necessary foundation for a decentralized system. Technology firms that specialize in AI could help develop algorithms for identifying and matching stolen items.

Electronics Retailers:

Partnerships with electronics retailers are crucial for encouraging customers to use *Boltin*'s services. These retailers can promote the platform at the point of sale, providing customers with the option to register their purchases on the Boltin platform for enhanced security.

Collaboration with retailers not only aids in user acquisition but also enhances the credibility of the platform.

Insurance Companies:

Engaging with insurance providers is essential, as they can benefit from verifying ownership records to reduce fraudulent claims. Boltin could offer services that integrate seamlessly with insurance claim processes, providing added value for insurers and policyholders alike.

By establishing relationships with insurance companies, Boltin can gain access to a broader audience and potentially offer tailored solutions for policyholders.

Law Enforcement Agencies:

Collaborating with law enforcement agencies can improve the platform's effectiveness in recovering stolen items. These agencies could utilize *Boltin*'s database for tracking stolen property and verifying ownership during investigations.

Engaging with law enforcement not only enhances the platform's credibility but also contributes to broader crime prevention initiatives.

Regulatory Bodies:

Compliance with legal and regulatory frameworks is critical for *Boltin*. The platform must adhere to privacy laws, data protection regulations, and guidelines set forth by relevant authorities to operate legally and maintain user trust.

Engaging with regulatory bodies from the outset can help navigate potential hurdles and ensure a smoother launch.

User Community:

The success of Boltin hinges on a strong user community that actively participates in the platform. User engagement strategies, including feedback mechanisms and support channels, are vital for improving the service and fostering trust.

Building a community of users will also help in spreading awareness and promoting the platform through word-of-mouth and referrals.

By establishing these dependencies and partnerships, Boltin can enhance its service offerings, build credibility, and ultimately create a more secure and efficient platform for property ownership registration and verification. 

[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

Our projects will not be open source because it deals with security and data privacy.

[METADATA] Horizons

Security

[SOLUTION] Please describe your proposed solution

Proposed Boltin Solution

 

Problem Perception

The core problem Boltin addresses is the insecurity and inefficiency surrounding property ownership verification and transfer in the digital age. The traditional methods for proving ownership—such as receipts, warranties, or physical paperwork—are often inadequate. They are prone to loss, fraud, or misinterpretation, making it difficult for individuals to recover lost or stolen items and complicating the transfer of ownership. According to the FBI, millions of dollars are lost each year due to property theft and fraud, indicating a significant gap in current systems .

 

Approach Justification

Boltin uses blockchain technology and AI to create a secure, decentralized platform for property registration, verification, and transfer. This approach is justified for several reasons:

 

Blockchain Security: By utilizing blockchain, Boltin ensures that ownership records are immutable, verifiable, and transparent, reducing the risk of fraud and unauthorized transfers

 

AI Integration: AI technologies enhance the system's ability to detect and analyze patterns in ownership claims, aiding in the identification of stolen items and improving recovery processes

 

User-Centric Design: The platform is designed to be intuitive, allowing users to easily register their properties and manage ownership transfers, thus enhancing the overall user experience

 

Project Engagement

Boltin aims to engage a diverse range of stakeholders:

 

Consumers: Individuals who own valuable electronics and are looking for secure methods to manage ownership and protect their investment

  

Retailers: Electronics stores and e-commerce platforms that wish to provide additional security measures for their customers through integration with Boltin

 

Insurance Companies: Firms that want to verify ownership records, reduce fraud claims, and enhance customer service

 

Government Agencies: Organizations focused on reducing property theft and improving recovery processes that could benefit from a standardized digital system for property registration

 

Demonstrating Impact

To prove the impact of Boltin, the project will employ several strategies:

 

Pilot Programs: Launch pilot initiatives in selected urban areas to gather data on user interactions, theft recovery rates, and transaction success

 

User Testimonials and Case Studies: Collect testimonials from early adopters and document successful recovery stories to showcase how Boltin improves property management and ownership verification

 

Performance Metrics: Track and publish key performance indicators (KPIs) such as the number of registered properties, ownership transfers completed, and reductions in reported theft cases among user

 

By strategically engaging stakeholders and demonstrating tangible benefits through data-driven results, Boltin aims to establish itself as a trusted solution within the property management landscape.

 

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

The Boltin project, with its focus on secure property ownership registration, verification, and transfer, can bring significant positive impact to the wider Cardano blockchain community in several key ways:

Increased Real-World Adoption of Cardano

By using Cardano’s blockchain for Boltin’s property authentication and ownership transfer system, the project will demonstrate a clear, practical use case of blockchain technology in everyday life. It will help:

 

Showcase how Cardano’s secure and scalable blockchain can facilitate ownership verification and smart contract-based transfers.

Attract more users from mainstream sectors (electronics retailers, insurance companies, consumers), leading to increased real-world adoption of Cardano technology.

Driving Innovation and Use of Smart Contracts

Boltin can leverage Cardano’s smart contracts (Plutus) to securely automate property ownership transfers. This will highlight the power and flexibility of smart contracts in the following ways:

Encourage developers and businesses within the Cardano ecosystem to explore innovative applications beyond cryptocurrency.

Foster further development of dApps (decentralized applications) on the Cardano network, strengthening its ecosystem and expanding its use cases.

Strengthening Cardano’s Position in the Security Space

Boltin’s use of Cardano for property security (theft prevention, recovery, ownership verification) will align with Cardano’s reputation for security and integrity. This can:

Position Cardano as a leader in digital property protection and theft reduction, opening doors for other security-based projects on the blockchain.

Build trust among individuals and businesses that blockchain can solve key real-world problems, increasing adoption and investment in the Cardano ecosystem.

Enhancing Cardano’s Decentralized Identity Capabilities

Boltin could integrate with Atala PRISM, Cardano’s decentralized identity (DID) solution, for verifying user identity during the property registration and transfer process. This will:

Showcase the synergy between DIDs and property management, making Cardano a front-runner in both identity verification and secure digital transactions.

Encourage adoption of Cardano’s DID solutions across other industries.

 

 

Contributing to Cardano’s Growth in Non-Financial Use Cases

While blockchain has primarily been associated with financial applications, Boltin represents a non-financial use case by focusing on property management. This will:

 

Broaden the scope of blockchain applications on Cardano, proving its versatility beyond decentralized finance (DeFi).

Attract a new segment of developers and businesses interested in creating non-financial solutions on Cardano, fostering a more diverse ecosystem.

 

 

Community Growth and Collaboration

Boltin could inspire further community-driven innovation within Cardano’s ecosystem. By open-sourcing parts of its solution or collaborating with other dApps, Boltin can:

 

Facilitate knowledge-sharing and collaboration, strengthening the overall Cardano developer community.

Promote engagement from the Cardano community through potential staking, governance, and participation in the growth of Boltin.

 

 

Support for Cardano’s Sustainability Goals

Cardano prides itself on being a sustainable blockchain. Boltin’s property management system, by reducing theft and promoting secure transfers, aligns with this goal by:

 

Encouraging sustainable, ethical business practices (e.g., reducing fraudulent claims, minimizing theft-related waste).

Contributing to social good through a secure, transparent, and immutable system for property ownership, thereby enhancing the blockchain’s ethical impact.

 

 

Encouraging Cross-Industry Collaborations

As Boltin partners with electronics retailers, insurance companies, and law enforcement agencies, it will serve as a bridge between the Cardano blockchain and various industries. This will:

 

Open new avenues for partnerships and integrations with businesses that may have otherwise been hesitant to explore blockchain technology.

Highlight Cardano as a viable blockchain for enterprise-level solutions, boosting its reputation as a go-to platform for industries outside of cryptocurrency.

 

Overall, Boltin will bring real-world utility, innovation, and growth to the Cardano blockchain, reinforcing its position as a secure, scalable, and versatile platform for the future.

 

[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?

With a rich background in relationship management, community engagement, leadership, and business development, I am well-equipped to lead the Boltin project with high levels of trust and accountability. Here’s a detailed overview of my capabilities, my approach to validating feasibility, and the steps I will take to manage funds responsibly.

Existing Capabilities

1. Relationship Management:

• My experience as a relationship manager at a loan company has ingrained in me the importance of trust and transparency in all interactions. This experience has equipped me with skills in customer service, problem-solving, and building long-lasting relationships, which are crucial for gaining user trust in the Boltin platform.

1. Community Engagement:

• As a former community manager for the Economic and Financial Crimes Commission, I developed strategies to engage diverse stakeholders and promote community-driven initiatives. This background gives me insight into the needs and concerns of different groups, allowing me to tailor *Boltin*’s approach to enhance user adoption and satisfaction.

1. Leadership and Coordination:

• Leading my secondary school alumni group has provided me with experience in organizing events, managing teams, and effectively communicating with diverse audiences. These skills will be essential for coordinating the development and launch phases of the Boltin project.

1. Sales and Business Development:

• My tenure as a lead sales and business development personnel has given me a solid understanding of market dynamics, strategic partnerships, and revenue generation. This knowledge will guide Boltin in identifying potential markets, developing compelling value propositions, and executing effective sales strategies.

Validating Feasibility

1. Conducting Market Research:

• I will begin by conducting thorough market research to assess demand for the proposed service. This includes gathering data on potential users, their pain points, and existing solutions. Understanding market needs is crucial for validating that Boltin addresses a genuine problem.

1. User Testing and Feedback:

• Implementing pilot programs within specific communities will allow us to gather real-time feedback on the platform's usability and effectiveness. Engaging users in early testing will help refine the platform and demonstrate its value.

1. Stakeholder Engagement:

• By engaging potential users, retailers, and insurance companies early in the process, I can validate the proposed features and functionalities of *Boltin*. Regular discussions with stakeholders will provide insights into their needs and ensure alignment with market expectations.

1. Iterative Development:

• Utilizing an agile development approach will allow for continuous improvement based on user feedback and market conditions. This adaptability will help us validate our approach and make necessary adjustments.

Trustworthy Fund Management

1. Creating a Transparent Budget:

• I will develop a detailed budget outlining projected expenses, revenue streams, and funding requirements for the Boltin project. This budget will be shared with stakeholders to ensure transparency and accountability.

1. Establishing a Financial Oversight Committee:

• I will form a governance structure that includes a financial oversight committee responsible for reviewing budgets, approving major expenditures, and ensuring compliance with financial policies. This committee will enhance accountability and trust among stakeholders.

1. Regular Financial Reporting:

• Implementing a system for regular financial reporting will allow for tracking expenditures against the budget and identifying any discrepancies. Consistent reporting ensures stakeholders are informed about the project’s financial health.

1. Conducting Third-Party Audits:

• Engaging an independent auditor to review financial practices and expenditures will provide additional assurance to stakeholders that funds are being managed responsibly and effectively.

1. Establishing Feedback Mechanisms:

• I will create channels for stakeholders and users to provide feedback on financial practices, allowing for open communication and increased accountability.

By leveraging my diverse experiences and implementing structured processes for validation and fund management, I am confident in my ability to deliver the Boltin project successfully, fostering trust and accountability throughout the process.

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

Concept Development and Market Research

·        Objective: Validate the problem Boltin aims to solve (property ownership authentication, theft reduction, secure transfer) through research and analysis.

·        Key Actions:

·        Conduct detailed market research on the demand for property authentication and theft prevention systems.

·        Gather user feedback through interviews or surveys to understand potential customers' pain points.

·        Research the competitive landscape (e.g., other blockchain solutions or property management systems).

 

Outcome: A validated, clear product-market fit and identification of target user base.

 

Build a Minimal Viable Product (MVP)

Objective: Develop a basic version of Boltin that demonstrates the core features (property registration, verification, ownership transfer).

Key Actions:

Define the tech stack (blockchain integration with Cardano, AI algorithms for theft prevention, and user-friendly interface).

Build an MVP that includes essential features like device registration, ownership verification, and smart contract-based ownership transfer.

Integrate basic blockchain functionalities on Cardano (e.g., registration of property and transfer logging).

 

Outcome: A working MVP that can be used for testing and feedback.

 

Complete Full-Scale Development of the Platform

• Objective: Expand the MVP into a fully functional platform with all features.
• Key Actions:
• Develop AI tools for item recovery, pattern recognition, and theft detection.
• Implement secure blockchain integration using Cardano’s smart contracts for property ownership and transfer.
• Create mobile and web applications for users to easily manage their registered items.
• Build a user dashboard for seamless management of registered items, ownership verification, and transfers.

Outcome: A fully operational platform with all key features and integration of AI and blockchain.

Test and Refine the Platform

• Objective: Perform rigorous testing to ensure security, usability, and scalability of the platform.
• Key Actions:
• Conduct beta testing with a group of early adopters to identify usability issues and gather feedback.
• Perform security audits to ensure the blockchain integration and data storage is tamper-proof and secure.
• Test the scalability of the platform to handle multiple users, transactions, and property registrations.

Outcome: A well-tested, secure platform that’s ready for market launch.

Ensure Compliance with Global Standards

• Objective: Make sure that Boltin complies with data privacy and intellectual property laws.
• Key Actions:
• Consult with legal experts to ensure compliance with GDPR (General Data Protection Regulation) and other global privacy standards.
• Establish guidelines for the legal transfer of ownership across different jurisdictions, especially if expanding globally.
• Develop terms of service and user agreements that clearly outline the platform’s use and rights management.

Outcome: A compliant and legally secure platform.

Launch the Platform to Early Users

• Objective: Release Boltin to the public with an initial focus on early adopters.
• Key Actions:
• Initiate a soft launch to invite early users (e.g., tech enthusiasts, influencers) to try the platform and provide feedback.
• Run targeted marketing campaigns (social media, SEO, partnerships) to build early traction and raise awareness.
• Establish customer support for resolving any issues and gathering user feedback post-launch.

Outcome: A successful public launch with early user adoption and feedback.

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

(1) Name: Adebobola Adenle:

Role: Product / Project management

Business development

Profile: https://www.linkedin.com/in/adenle-adebobola-2271bba8?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=android_app

(2) Name:

Jeremiah Oluwaseun ERINOLA

Profile:

https://www.linkedin.com/in/jeremiah-seun-eljoy?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app

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

1. Development Costs

Focusing on creating a Minimum Viable Product (MVP) with essential functionalities:

• Blockchain Development: 20,000 ADA
• Integrate Cardano smart contracts for registering and transferring property.

  

• Mobile and Web App (MVP): 15,000 ADA
• Develop basic applications for property registration and verification.

  

• Backend Development: 10,000 ADA
• Create a secure backend for storing and retrieving property data.

  

• UI/UX Design: 5,000 ADA
• Design a user-friendly interface focused on usability.

  

• Testing & QA: 3,000 ADA
• Perform testing to ensure the functionality and security of core features.

Total Development Costs: 53,000 ADA (one-time)

1. Operational Costs

Maintaining lean operational costs to support the platform during its initial launch phase:

• Cloud Hosting & Infrastructure: 1,000 ADA/month
• Use cloud services for running the platform (e.g., AWS, Google Cloud).

  

• Blockchain Transaction Fees: 500 ADA/month
• Pay transaction fees for property registration and transfers on Cardano.

  

• Security & Encryption: 500 ADA/month
• Implement security measures and encryption for user data protection.

  

• Customer Support (Outsourced): 1,000 ADA/month
• Engage outsourced customer support for initial user inquiries.

Total Operational Costs: 3,000 ADA/month (for 6 months: 18,000 ADA)

1. Marketing and Sales Costs

Implementing cost-effective marketing strategies to drive user awareness:

• Digital Marketing (Social Media Ads, PPC): 2,000 ADA/month
• Run targeted campaigns on social media and Google Ads for user acquisition.

  

• Content Marketing: 1,000 ADA/month
• Create blog posts and guides to build organic traffic.

  

• Referral Programs: 1,000 ADA/month
• Establish incentives for users to refer others.

  

• PR & Media Outreach: 5,000 ADA (one-time)
• Conduct press releases and outreach to influencers to raise launch awareness.

Total Marketing Costs: 3,000 ADA/month (for 6 months: 18,000 ADA) + one-time PR cost (5,000 ADA)

1. Human Resources

Leveraging freelancers and part-time staff to manage costs effectively:

• Lead Developer (Freelancer): 20,000 ADA
• Hire a freelancer for blockchain integration and core platform development.

  

• Front-End Developer (Freelancer): 10,000 ADA
• Engage a freelancer for UI/UX development of web and mobile apps.

  

• Customer Support (Part-time): 5,000 ADA
• Utilize part-time support for initial user interactions post-launch.

Total Human Resources Costs: 35,000 ADA

1. Contingency and Miscellaneous

Setting aside a small fund for unexpected expenses:

• Contingency Fund: 4,000 ADA
• Allocated for unforeseen costs, such as legal fees or additional development time.

  

• Miscellaneous: 2,000 ADA
• Cover miscellaneous expenses like software tools or minor services.

Total Contingency & Miscellaneous Costs: 6,000 ADA

Total Budget Allocation

• Development: 53,000 ADA
• Operational (6 months): 18,000 ADA
• Marketing (6 months): 18,000 ADA
• Human Resources: 35,000 ADA
• Contingency & Miscellaneous: 6,000 ADA

Grand Total: 120,000 ADA

This budget effectively prioritizes essential development, operations, marketing, and human resources to successfully launch Boltin while managing within the 120,000 ADA limit.

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

The Boltin project represents significant value for money within the Cardano ecosystem for several reasons:

 

1. Boltin aims to use blockchain technology to create a secure and immutable record of property ownership. This addresses prevalent issues like property theft and fraud, which can have a substantial financial impact. By providing a reliable method for verifying ownership, the project can help protect users' investments, reducing the costs associated with property disputes and theft recovery.

 

1.     Increased Adoption of Cardano Technology

The successful deployment of Boltin can stimulate broader adoption of Cardano’s blockchain by demonstrating its utility in real-world applications. As more users engage with the platform, it can lead to increased network activity, driving up demand for ADA and contributing to the overall health of the Cardano ecosystem. This aligns with Cardano's vision to create a platform for decentralized applications and smart contracts.

 

1.     Facilitating Property Recovery and Ownership Transfer

The ability to quickly and securely transfer property ownership through Boltin can greatly enhance market efficiency. By streamlining these processes, the project can save users both time and money associated with traditional methods of property registration and transfer【28†source】. A more efficient property transfer system could potentially lower transaction fees and administrative costs, making the market more accessible.

 

1.     Cost-Effective Development Approach

The projected budget of 120,000 ADA (approximately $1.76 million) represents a strategic investment in technology that aims to deliver a high return on investment through improved property security and market efficiency. The budget allocation focuses on critical areas such as development, operations, and marketing, which are essential for launching a viable product. This level of investment is relatively modest compared to the potential economic benefits it can generate.

 

1.     Long-Term Economic Benefits

By enhancing property security and facilitating easier transfers, Boltin can contribute to a more stable real estate market. The project not only addresses immediate concerns related to property management but also fosters trust in digital transactions, which is vital for economic growth. This stability can lead to increased investment and development within the Cardano ecosystem, generating long-term value.

 

Conclusion

In summary, Boltin offers substantial value for money by leveraging Cardano's blockchain to provide secure, efficient property management solutions. Its successful implementation could drive adoption of the Cardano platform, enhance market stability, and deliver significant economic benefits, ultimately reinforcing Cardano’s position as a leading blockchain ecosystem.