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IDEA DESCRIPTION

Team ada4profit is making access to legally valid and bound business contracts easier and at low costs for South Asian and low income markets like India, Nepal, Bangladesh and Pakistan via a mobile app. The solution will help entrepreneurs grow their businesses, which is ultimately increasing the availability of job openings and will help them grow their economies. Physical or witness representation is not needed anymore.

CURRENT STATE
There are existing solutions to digitally sign and verify the contracts but these are either expensive or not targeted to the mentioned markets. The current pandemic has sped up the need of digitization where such countries were not ready.
We think we can provide an affordable solution using Cardano blockchain to provide digital signing and verification.

Developments so far:
Architecture of the solution
Selection of protocols and algorithms for signing and verification
Mockups of the app

WHAT ARE WE AIMING FOR
South Asian developing & low income markets: India, Nepal, Bangladesh, Pakistan
Develop an easy to use Dapp (mobile solution) at low cost in the localization of these countries which will allow for easy entrance in the solution. This will drive the adoption of such a solution since the word of mouth will spread it very quickly.

WHO ARE WE
We are a software company with a development team that has several years experience in blockchain application development, mostly with Ethereum & Solidity. We also have a team member with knowledge in cryptography and cryptographic protocols that helps in the development of the digital signing and verification engine for the app.
We have some team members in Nepal, a developing country in South Asia who have first hand experience with contract signing issues because of the pandemic.

COSTS
To realize this idea we are asking for 15K $

TEAM
Our team for this project consists of a business developer, a cryptography expert and two software developers.

HOW WILL THIS IDEA CONTRIBUTE TO THE OVERALL SUCCESS OF THE CARDANO ECOSYSTEM?
If the application is built and used by the people in the developing countries, it will drive more people toward the blockchain and we'll promote Cardano citing the use case itself. Furthermore, the open source components will generate interests from people using the app.

Developing countries have large and very young populations. Most of these young people desire a better future for themselves and their families. Mobile devices have opened new opportunities for them to do business but unfortunately the legal costs related to business contracts are very high and for most not affordable. We could break this barrier down via our Dapp and untap an enormous potential of business users that will transact their business contracts via the Cardano blockchain.

WHAT IS OUR ROADMAP
First month: Finish the contract signing and verification using Cardano.
Three months: Have the web version ready and aim to acquire the first 100 business users in next three months.
Six months: Launch the Dapp.
Goal: acquire 1000 business users.
One year: 10k + users

IP
We plan to open source some parts of the solution so other people from the community can use these libraries to build other digital signing tools.

HOW ARE WE MEASURING THE SUCCESS OF THE PROJECT
We will measure the success of the project by
the number of app downloads
daily/monthly active users
number of contracts signed

CONCLUSION
We believe the idea will help a lot of people to do business online and Cardano plays an important role in making sure that the contracts are valid. With our previous experience in developing mobile apps and blockchain solutions, we are confident that we can execute the project well and make a change in the world (be it small). If you like the idea and would like to support us in any form, please feel free to reach out to us.