not approved

Quideos smart-contract

$2,000,000.00 Requested
Ideascale logo View on ideascale
Community Review Results (1 reviewers)
Impact / Alignment
Feasibility
Auditability
ソリューション

A marketplace, to exchange physical commodities with a smart contract that records exchanges on a public blockchain, to answer customers’ growing expectations, especially in sustainability.

Problem:

Multinationals in the commodity industry allow the supply of raw commodities or finished products. All this information remains centralized and create an unbalance distribution of value.

Yes Votes:
₳ 8,417,822
No Votes:
₳ 149,876,035
Votes Cast:
242

  • download
  • download

[IMPACT] Please describe your proposed solution.

A new and unique marketplace, to exchange physical commodities in a more transparent and fair way. We achieve this by:

⮚Implementing a smart contract that records exchanges on a public blockchain and earns a fee for each transaction

⮚Leveraging the power of traceability from the smart contract in order to answer customers’ growing expectations, especially in sustainability

⮚Improving the distribution of revenues to farmers and producers and allowing them to build their reputation over time

[IMPACT] Please describe how your proposed solution will address the Challenge that you have submitted it in.

Blockchain is a technology that can also be described as “shared ledger”. When a piece of information is saved onto the blockchain, it becomes immediately available to the public.

What it means for commodity trading world, is that we can write trading rules on a public database. We can write supply chain activity and track what market participants are doing.

We want to create a smart contract and a platform to exchange physical goods. Because privacy of information is the main obstacle for a fair trade-system, our objective is to create a tool for traceability.

Using this tool farmers can build a reputation with the public. A little bit like home owners build a reputation on Air-bnb for example.

At the same time, traceability is a synonym of transparency. It will reduce intervention of too many middlemen, because consumers will prefer products that are directly coming from the source.

We are also seeing a growing demand for sustainability. Having a tool for transparency allows identification of problems in the supply chain by third party entities. (Such as certification companies, or non-governmental organization that look at child labor in farms etc.)

In addition to the smart contract, we are providing a platform where those contracts can be exchanged. This platform is a window that look at all operations.

Our ambition is to focus on the farmers and producers, the starting point of smart contract. We don’t plan at first to offer a tool that covers the entire chain. Buyers will use this tool over time because they will realize it also benefits them and their reputation.

Current solutions are developed by major companies. Farmer’s connect, Farmer’s business network, IBM Food trust, Agritech network.

The reason we are confident about our solution is also because this is the only solution that is ambitious enough to release information to the public. Reason why current solutions are private is because big companies don’t want to share information about their activity.

[IMPACT] What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?

We need to decide what constitutes sensitive information that should not be public on the blockchain. But we think we should have them all if possible.

  • We have to evolve our platform and smart contract step-by-step to see what information should be recorded and what should not, and this will depend on each product and market.

We still need a centralized system for information that remains private. (or metadata)

  • We have a team of back-end and blockchain engineers to become a layer between users and data on-chain.

This is not an end-to-end solution for consumers or producers to check all activity in supply chain. It is the foundation for this system.

  • We have to evolve our platform and smart contract step-by-step to see if we can add more data on-chain

There were cases of smart contract hacking in the past.

  • We have to make sure the smart contract is well coded and use external consultants to audit the code.

Changing versions of smart contract is a more difficult operation than in traditional database systems, because of its uniqueness.

  • We will load all data from V1 smart contract to V2 smart contract.

    [FEASIBILITY] Please provide a detailed plan, including timeline and key milestones for delivering your proposal.

July 2022, Find partners

propose partnership:

  • Producers
  • Buyers’ association
  • Legal team

June 2022, Secure financing

Plan for 2 years finance

  • AISA group
  • Others

September 2022: Beta version

  • Smart contract
  • Platform from web browser
  • Mobile application
  • Connect buyers and sellers

November 2022: First version release

release V1

  • Execute first cargoes
  • With at least 2 producers
  • Various products
  • Various continent

December 2022: Marketing campaign

transition to market centric

  • Focusing on Marketing

  • Support operations

  • Improve smart contract versions

    [FEASIBILITY] Please provide a detailed budget breakdown.

Below are the employees' yearly salaries and rent cost detailing our budget needs:

CEO 120’000 USD

COO 120’000 USD

Senior blockchain developer 120’000 USD

Blockchain developer 36’000 USD (possibly external)

Front-end developer 36’000 USD (possibly external)

Business developer 36’000 USD (possibly external)

Rent 50,000 USD

We have a full business plan we can provide below:

Image File

Image File

[FEASIBILITY] Please provide details of the people who will work on the project.

Below are the profiles of the founders:

A. Quentin Doublet

Data driven, Strong background in the commodity trading industry, Experienced in building & transforming Market Research functions for commodity companies: identifying needs, breaking down complexity, designing processes & implementing solutions navigating between different levels of focus

B. Gael Pages

Applying Artificial Intelligence techniques to financial markets from a medium frequency perspective. What drives me is analyzing things in order to take investment decisions.

C. Baptiste Quidet

With 11 years of experience in the Operational, Financial, Commercial, and Entrepreneurial aspects of Commodity Trading & Shipping, I am a senior data scientist with passion for coding, machine learning and blockchain technologies.

[FEASIBILITY] If you are funded, will you return to Catalyst in a later round for further funding? Please explain why / why not.

We don't look for further funding if we reach our target investment seed of 2mio USD. As you can see on above business plan, we are looking at having incomes by 2023 sufficient enough to cover the operational costs a create profits.

[AUDITABILITY] Please describe what you will measure to track your project's progress, and how will you measure these?

We will have KPIs regarding volume traded versus our target:

in 2023: our target is to cover 5% of Ivory coast cocoa market and 5% of El Salvador coffee markets.

in 2024: our target is to cover 7.5% of Ivory coast cocoa market, 5% of Peru avocado market and 7.5% of El salvador coffee market.

In terms of product, it would mean the adoption is working. We also want to look at usage of the data from application that analyses smart contract. So we will also create KPIs on smart-contract method that fetch information.

[AUDITABILITY] What does success for this project look like?

In 5 years, a large portion of world commodity trading products is traceable through a smart-contract and publicly available. We can look on the smart-contract address and see commodity flows as they are moving.

In addition, we can check on packages of most product in super-markets QR codes with address of smart-contract that allow individuals and institutions to trace supply-chain behind deliveries and transformations of the original product.

[AUDITABILITY] Please provide information on whether this proposal is a continuation of a previously funded project in Catalyst or an entirely new one.

It is an entirely new project.

Sustainable Development Goals (SDG) Rating

SDG goals:

Goal 2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture

Goal 15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss

Goal 16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels

SDG subgoals:

15.6 Promote fair and equitable sharing of the benefits arising from the utilization of genetic resources and promote appropriate access to such resources, as internationally agreed

2.b Correct and prevent trade restrictions and distortions in world agricultural markets, including through the parallel elimination of all forms of agricultural export subsidies and all export measures with equivalent effect, in accordance with the mandate of the Doha Development Round

2.c Adopt measures to ensure the proper functioning of food commodity markets and their derivatives and facilitate timely access to market information, including on food reserves, in order to help limit extreme food price volatility

Key Performance Indicator (KPI):

15.6.1 Number of countries that have adopted legislative, administrative and policy frameworks to ensure fair and equitable sharing of benefits

2.b.1 Agricultural export subsidies

2.c.1 Indicator of food price anomalies

#proposertoolsdg

コミュニティ・アドバイザー・レビュー (1)

Comments

close

Playlist

  • EP2: epoch_length

    Authored by: Darlington Kofa

    3分 24秒
    Darlington Kofa
  • EP1: 'd' parameter

    Authored by: Darlington Kofa

    4分 3秒
    Darlington Kofa
  • EP3: key_deposit

    Authored by: Darlington Kofa

    3分 48秒
    Darlington Kofa
  • EP4: epoch_no

    Authored by: Darlington Kofa

    2分 16秒
    Darlington Kofa
  • EP5: max_block_size

    Authored by: Darlington Kofa

    3分 14秒
    Darlington Kofa
  • EP6: pool_deposit

    Authored by: Darlington Kofa

    3分 19秒
    Darlington Kofa
  • EP7: max_tx_size

    Authored by: Darlington Kofa

    4分 59秒
    Darlington Kofa
0:00
/
~0:00