[IMPACT] Please describe your proposed solution.
The proposed solution aims to address the lack of coordination and shared resources among RealFi projects on the Cardano blockchain. By establishing a dedicated Coordinator, the Cardano RealFi Consortium will streamline synergies, enhance communication, and pool knowledge and resources to solve real-world problems. The Coordinator will facilitate collaboration, manage day-to-day operations, and onboard new projects, ultimately strengthening the Cardano ecosystem.
[IMPACT] How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
We address the following question posed in the challenge brief: “How do we make Cardano their first choice when it comes to building dApps, innovating and collaborating?”
The Cardano RealFi Consortium will be a key guiding factor that will work towards making Cardano the first choice for any traditional business looking to utilise a blockchain solution for their use case.
This proposal seeks to finance a dedicate resource to manage the operations of the Cardano RealFi Consortium. This will lead to increased collaboration, shared knowledge, and efficient problem-solving among RealFi projects. By streamlining synergies, the Consortium will attract more projects, enhance marketing efforts, and foster a vibrant RealFi ecosystem on the Cardano blockchain. The benefits include accelerated development, increased visibility, and improved scalability of RealFi projects, ultimately strengthening the overall Cardano ecosystem.
[IMPACT] How do you intend to measure the success of your project?
Short-Term KPIs (Months 3-6):
- Number of new projects onboarded: Measure the number of Cardano RealFi projects that join the Cardano RealFi Consortium during the initial months of the projec
- Consortium engagement and participation: Assess the level of engagement and participation of Consortium members in meetings, discussions, and collaborative activitie
- Growth in Twitter followers: Track the increase in the number of Twitter followers of the Cardano RealFi Consortium account, indicating growing awareness and interes
- Growth in Discord members: Monitor the growth of the Discord community, indicating increased engagement and participation within the Consortiu
- Coordinated marketing efforts: Evaluate the successful execution of coordinated marketing efforts, such as social media posts, Twitter space sessions, and presentations at community event
Medium/Long-Term KPIs (Months 7-14):
- Sustainable project growth: Assess the sustained growth of the Cardano RealFi Consortium in terms of new project onboarding and ongoing engagement from existing member
- Community reach and impact: Measure the reach and impact of the Consortium within the wider Cardano community, including increased visibility, partnerships, and collaboration
- Continual increase in Twitter followers and Discord members: Monitor the ongoing growth of the Consortium's social media presence and community engagement channel
- Successful knowledge sharing and collaboration: Evaluate the level of successful knowledge sharing, collaboration, and synergies among Consortium members, leading to tangible project outcomes and advancement
- Number of new traditional businesses onboarded to Cardano: Measure the number of projects that join the Cardano RealFi Consortium thanks to the efforts of the consortiu
These KPIs will provide valuable insights into the short-term progress and the medium to long-term impact of the project, ensuring that it is effectively meeting its objectives and delivering value to the Cardano RealFi Consortium and the broader Cardano ecosystem.
[IMPACT] Please describe your plans to share the outputs and results of your project?
The outputs and results of the project will be shared through various channels. Regular updates will be posted on the Consortium's Twitter account, highlighting RealFi project updates, collaborations, and achievements. The Coordinator will actively engage with the community through Twitter spaces, sharing insights, and fostering discussions. The project's documentation, best practices, and lessons learned will be shared on the Consortium's website and GitHub repository. Furthermore, presentations and workshops will be conducted at relevant Cardano community events to disseminate the project's outcomes and encourage wider adoption.
[CAPABILITY/ FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability?
Past deliverables
Over the past 6 months since inception, the RealFi consortium has held biweekly RealFi-focused Twitter spaces. This has covered topics ranging from off/on-ramping in Africa, <https://twitter.com/RealfiCardano/status/1651552850705612802?s=20>, in the west with NMKR <https://twitter.com/RealfiCardano/status/1637923300973199361?s=20>, land rights <https://twitter.com/RealfiCardano/status/1643696705664163841?s=20> and identity (<https://twitter.com/RealfiCardano/status/1663984128956481569?s=20>)
The working group is composed of RealFi project founders
Simon. Founder of the DirectEd Development Foundation - an international charitable not-for-profit organisation on a mission to deliver highly scalable training and paid internships in programming and soft skills to high-potential under-resourced students across Africa, starting in Kenya and Ethiopia. They are pioneering the use of stablecoins, smart contracts and decentralised identifiers to facilitate milestone-based peer-to-peer scholarships because we believe that the combination of these technologies enables meaningful transparency, traceability and accountability at scale.
DirectEd Development Foundation
Over the past year the DirectEd team has a proven track record of successfully delivering projects in the blockchain and on the ground in Kenya and Ethiopia having signed MOUs with more than 10 educational institutions and delivering state of the art coding training to over 100 students.
Darius. CEO and founder of Commonlands. Commonlands is an innovative system that builds trust, with land. Our open land registry, Claimchain, uses the shared connections between neighbors as the basis for trust in our system. Then, our tamper-evident technology ensures the authenticity of claims, and provides a secure and transparent way to prove land ownership.
Craig. Founder of GoKey. GoKey gives owners and renters the ability to create, store and transfer real estate equity and liquidity in ways never before possible.
[CAPABILITY/ FEASIBILITY] What are the main goals for the project and how will you validate if your approach is feasible?
The proposed objectives for the CRFC Coordinator project are as follows:
- Increase the number of traditional businesses building on Cardano: The primary goal is to make it easier and more likely for traditional businesses to adopt and build on the Cardano blockchain. This will be measured by tracking the number of traditional businesses that successfully onboard and actively engage with the Cardano RealFi Consortium.
- Enhance collaboration and knowledge sharing: Foster a collaborative environment among Consortium members, facilitating the sharing of expertise, resources, and best practices. The achievement of this goal will be evaluated through the level of engagement and participation in Consortium meetings, discussions, and collaborative projects.
- Improve visibility and adoption of Cardano RealFi projects: Increase the visibility and adoption of RealFi projects built on Cardano through effective marketing and communication strategies. This will be assessed by monitoring the growth of the Consortium's social media following, engagement metrics, and feedback from the wider Cardano community.
- Bridge the gap between traditional businesses and blockchain technology: Identify key challenges faced by traditional businesses when adopting blockchain technologies and provide solutions tailored to their needs. The success of this goal will be measured by the positive feedback and testimonials received from traditional businesses regarding the support and value provided by the Consortium.
While some of these objectives can be quantified, others are qualitative and difficult to assign numeric values. The achievement of these goals will be measured through feedback, testimonials, and tangible outcomes resulting from the project's activities and initiatives. Regular evaluations, surveys, and engagement with Consortium members and the wider community will provide valuable insights into the project's success in achieving its goals and objectives.
[CAPABILITY/ FEASIBILITY] Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.
Milestone 1: Coordinator Hiring and Onboarding
- Task 1: Define Coordinator role and qualifications (Month 1)
- Task 2: Advertise Coordinator position and collect applications (Month 1-2)
- Task 3: Conduct interviews and select suitable candidate (Month 2-3)
- Task 4: Onboard the Coordinator and provide necessary resources (Month 3)
Milestone 2: Research and Strategy
- Task 1: Market and business intelligence identify needs of current Cardano RealFi projects (Month 3-4)
- Task 2: Identify high-return marketing opportunities for RealFi projects (Month 3-4)
- Task 3: Coordinate and schedule regular Twitter spaces and Consortium meetings (Month 3-4)
- Task 4: identify key problems faced by traditional businesses looking to use blockchain technologies (Month 3-4)
Milestone 3: Marketing and Onboarding
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Task 1: Manage Consortium's social media accounts and promote RealFi project updates (Month 3-14)
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Task 3: Host Twitter spaces and engage with speakers and participants (Month 3-14)
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Task 4: Present at relevant Cardano community events and conferences (Month 3-14)
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Task 4: Facilitate collaboration and knowledge sharing among Consortium members (Month 3-14)
[CAPABILITY/ FEASIBILITY] Please describe the deliverables, outputs and intended outcomes of each milestone.
Milestone 1: Coordinator Hiring and Onboarding
- Deliverables: Defined Coordinator role and qualifications, a pool of qualified applicants, selected Coordinator candidate, and successful onboarding process.
- Outputs: Fully staffed and operational Coordinator position, ready to undertake day-to-day operations of the Consortium.
Milestone 2: Research and Strategy
Deliverables and Outputs
- Market and business intelligence report: A report outlining the needs and challenges of current Cardano RealFi projects, including an analysis of market trends, competitor analysis, and potential areas for collaboration. (Month 4)
- High-return marketing opportunities report: A detailed report identifying strategic marketing opportunities for RealFi projects, including target audience analysis, marketing channels, and key messaging recommendations. (Month 4)
- Scheduled Twitter spaces and Consortium meetings: A coordinated schedule of regular Twitter spaces sessions and Consortium meetings to facilitate open discussions, knowledge sharing, and collaboration among Consortium members. (Ongoing from Month 3)
- Key problems identification report: A report highlighting the key challenges faced by traditional businesses interested in leveraging blockchain technologies, along with recommendations for how Cardano RealFi projects can address and solve these problems. (Month 4)
Intended Outcomes:
- Informed decision-making: Consortium members equipped with valuable market and business intelligence to make informed strategic decisions, align their projects with market needs, and optimize resource allocation.
- Increased marketing effectiveness: RealFi projects leveraging identified high-return marketing opportunities to enhance their marketing strategies, attract a broader audience, and increase user adoption of Cardano-based solutions.
- Collaborative environment: Enhanced collaboration and knowledge sharing among Consortium members through scheduled Twitter spaces and Consortium meetings, resulting in shared learnings, synergies, and improved project development.
- Real-world problem-solving: Cardano RealFi projects equipped with insights into the challenges faced by traditional businesses, enabling them to develop tailored solutions and provide value-added services, further bridging the gap between traditional and blockchain-based operations.
Milestone 3: Marketing and Coordination
Deliverables:
- Active social media management: Regular updates and posts on the Consortium's social media accounts promoting RealFi project updates, Consortium activities, and industry news. (Ongoing from Month 3-14)
- Engaging Twitter spaces: Hosting and moderating Twitter spaces sessions to facilitate discussions, share insights, and foster collaboration among speakers and participants. (Ongoing from Month 3-14)
- Presentations at community events: Participation in relevant Cardano community events and conferences to present the Cardano RealFi Consortium's mission, projects, and achievements. (Ongoing from Month 3-14)
- Collaborative knowledge sharing: Facilitating communication and knowledge sharing among Consortium members through effective coordination, documentation, and regular interactions. (Ongoing from Month 3-14)
Intended Outcomes:
- Increased visibility and engagement: Regular social media updates, Twitter spaces sessions, and presentations at community events will contribute to raising awareness about the Cardano RealFi Consortium, attracting new members, and engaging the broader Cardano community.
- Enhanced collaboration and knowledge sharing: Facilitating collaboration and knowledge sharing among Consortium members will lead to shared learnings, synergies, and improved project development. This will strengthen the Cardano RealFi ecosystem and foster a supportive and collaborative community.
- Networking and partnership opportunities: Participating in community events and conferences will provide networking opportunities, potentially leading to partnerships, collaborations, and new avenues for growth and development within the Cardano ecosystem.
- Increased adoption of Cardano-based RealFi solutions: By actively promoting RealFi project updates and showcasing the benefits and achievements of the Consortium, there will be an increased adoption of Cardano-based RealFi solutions, further solidifying Cardano's position as a leading blockchain platform for real-world use cases.
[RESOURCES & VALUE FOR MONEY] Please provide a detailed budget breakdown of the proposed work and resources.
Budget:
- Coordinator salary and benefits: ₳30,000
- Marketing and promotion budget: ₳5,000
- Working group lump sum (hiring/management/oversight): ₳10,000
- Software and server costs: ₳2,000
- Airgram recording, server cost, domain registration, Notion subscription.
- Administrative & Legal: ₳3,000
Total = ₳50,000
[RESOURCES & VALUE FOR MONEY] Who is in the project team and what are their roles?
The working group is composed of RealFi project founders
Simon. Founder of the DirectEd Development Foundation - an international charitable not-for-profit organisation on a mission to deliver highly scalable training and paid internships in programming and soft skills to high-potential under-resourced students across Africa, starting in Kenya and Ethiopia. They are pioneering the use of stablecoins, smart contracts and decentralised identifiers to facilitate milestone-based peer-to-peer scholarships because we believe that the combination of these technologies enables meaningful transparency, traceability and accountability at scale.
DirectEd Development Foundation
Over the past year the DirectEd team has a proven track record of successfully delivering projects in the blockchain and on the ground in Kenya and Ethiopia having signed MOUs with more than 10 educational institutions and delivering state of the art coding training to over 100 students.
Darius. CEO and founder of Commonlands. Commonlands is an innovative system that builds trust, with land. Our open land registry, Claimchain, uses the shared connections between neighbors as the basis for trust in our system. Then, our tamper-evident technology (built on an open source Catalyst project using Atala PRISM) ensures the authenticity of claims, and provides a secure and transparent way to prove land ownership.
Commonlands recently announced our launch in Uganda in coordination with CARE & our joint implementation partner CEFORD to bring 1,400 women in 55 Village Savings & Loan Associations in the Omugo region the tools to create community-verified foundational economic identities tied to their land.
Darius is a serial social entrepreneur with experience in Kenya, South Sudan, Guatemala, and Honduras. He exited his first company at 23 and has worked directly with the populations targeted by Commonlands. Darius is a seasoned operator and strategist with a proven ability to unite stakeholders around shared interests.
Craig. Founder of GoKey. GoKey gives owners and renters the ability to create, store and transfer real estate equity and liquidity in ways never before possible.
[RESOURCES & VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?
High Potential Upside
No blockchain protocol has yet to succeed. Even top protocols and dApps have daily active users in the range of 10s of thousands. This is a drop in the ocean.
What is needed is the recognition of the use and utility of blockchain. Either Web3 projects that solve problems by using blockchain technologies or traditional businesses. By streamlining synergies and fostering collaboration among RealFi projects, the project will accelerate the adoption and scalability of Cardano-based solutions.
In order for businesses to be comfortable building on a protocol like Cardano, there needs to be an ecosystem built around their use-case, resources and other support.
With only one major business being onboarded to Cardano, the narrative around Cardano would switch in the eyes of Venture Capital, leading to a cascade of further funding opportunities.
Low cost
The allocated funds will cover the necessary expenses, including the Coordinator's salary, marketing and promotion activities, and operational costs. The project's outcomes, such as increased visibility, improved coordination, and enhanced project development, will generate long-term value and benefits for the Cardano ecosystem. By hiring a Coordinator based in Africa - where many of existing CRFC members are operating and have extensive network - the costs of this full-time position is kept low.
Value
Overall, the cost we ask for is very low. Around $10,000 is not much money at all. But the potential upside is immense. Just one major company entering Cardano would give returns in the 6-figures in transaction fees and much more in terms of capital investments.
