<u>Audience</u>
- People interested in using Cardano as a central medium of value
- People interested in operating or participating in organizations tied to the blockchain (DAOs)
- Charities and Research organizations that would like to show financial transparency
- Business owners that would enjoy a built-in accounting system into their operation
<u>Actions</u>
- Develop metadata standard for businesses operating on the Cardano blockchain (pursued in separate proposal for operational standards) [WIP - 25%]
- Develop simple process to form legally registered or unregistered organizations [WIP - 90%]
- Develop compensation systems (payroll, bounty, work orders) [WIP - 70%]
- Develop organization funding system [WIP - 85%]
- Develop treasury system [WIP - 70%]
- Develop profile system [WIP - 70%]
- Develop profile system [WIP - 70%]
- Develop a fiat to crypto off ramp pipeline [WIP - 85%]
- Implement the fiat to crypto off ramp pipeline (in Miami) [WIP - 10%]
- Get local real estate developers and startups to formally operate on the blockchain [WIP - 25%]
(For full list of features with a finer breakdown and progress levels please visit the web link attached)
<u>Impact</u>
- On-ramp traditional small businesses onto the blockchain
- Enable frictionless finance
- Enable organizations to establish a formal chain of custody for ideas, assets, projects, and organizations and enhanced visibility into the flow of funds
- Automated accounting (the blockchain is the accounting system)
- Enable meritocratic organizations (ref. Proof of value added abstract in attached link)
<u>Addressing Challenge KPI</u>
- $ additional funding from other sources for the funded proposals
- Our MVP has a simple funding portal for our DAO to raise additional funding that accepts both credit and crypto. It is currently closed, but will open shortly after this proposal enters the next stage. A direct $ amount can be provided from Catalyst as a source due to the built-in referral system.
- <https://www.mintmatrix.io/dao/funding/seed>
- $ projected cost savings
- Our platform seeks to remove a lot of overhead from business operations and management through the use of smart contracts, using the blockchain as the core accounting system, and using blockchain based payroll and bounty system for human capital. Assuming this saves a business 1 accountant and 1 HR person, potential cost savings could be estimated to be $100k/year for a business.
- % growth in mainnet / testnet activity due to business solutions
- Our platform seeks to use Cardano as a central currency for business activities. Doing so will naturally increase network activity. A conservative estimate for tx/organization/year can be added soon.
<u>The biggest challenge by far is convincing people to use ADA as a base unit of value.</u>
The only solution to mitigate price volatility is implementation across entire supply chains or micro-economic systems to achieve stability. In other words, adoption will eventually stabilize the currency. And in theory, it should present itself as more robust in the end as a lot of economic non-linearities, such as inflation, are governed by an algorithm. Additionally, the enhanced visibility into the flow of funds should create a closed-loop system that can be financially engineered to be self-correcting.