[IMPACT]
In recent research [link], only 6.1% of Vietnam’s total population ( 100+M), currently own cryptocurrency, more than half of Vietnamese <u>(59%) expressed interest in investing in cryptocurrencies</u> in the future while <u>31% said that they would use crypto for online payments</u>.
We aim to build a functioning connection platform called Decentralized Metaverse Mall ( DMM) utilizing blockchain, metaverse, Web3, and partners' own Web 2.0 as online merchants, payment gateway, auction house to create the first Consume to Earn model ( C2E).
DMM brings new users to the crypto space (Cardano ecosystem) by automatically creating a crypto wallet when opening an account. The rewarding crypto will be added to the created wallet when they completed a transaction as spending at partners' merchant, deposit at partners' auction houses, or an accepted monthly electric/phone bill payment.
DMM will accept ADA and C2E (a cryptocurrency released by DMM) token payment for buying tangible items such as consumer electronics ( television, smartphone, washing machine,..) and paying services we use every day as phone bills, utility costs.
1) How does the DMM work?
- <u>Consume-To-Earn model</u>
DMM operates as a generated sales of products and services platform, stays in between users and dropshipping suppliers ( ex: Tiki, Lazada, Shopee, and Samsung Vietnam e-shop), online payment services providers ( ex: Payoo). When DMM drives users to spend at their app or sites, they will pay a sales commission. DMM takes a part of this money to share with buyers as cashback. Cashback can be withdrawn to a bank account or converted into ADA or C2E then be transferred to any crypto wallets on CEX and DEX exchange for earning. The amount of the C2E token will be also added to the consumer's wallet as an incentive, encouraging users to discover the crypto space.
Currently, we have been collaborating with Công ty TNHH Công nghệ và Điện máy Korea (Korea Electronics & Technologies Company) and Samsung Vietnam to get great discounts and good sales commissions.
We are also partnering with Lac Viet Online JSC, which are owning the first government-authorized auction platform in Vietnam.
- <u>Mass adoption of cryptocurrencies ( using ADA and C2E tokens to buy tangible items, pay for daily use services, or deposit for getting bidding permission at partner's auction house)</u>
In general, the laws of Vietnam do not recognize cryptocurrencies as legal means of payment. So there is no official crypto payment processor. However, there are 6.1% of Vietnam’s total population currently own cryptocurrency ( 5.9 million) and they need a place to spend.
A legal entity called DMMC, that owns DMM will be set up in Singapore to issue utility tokens as C2E and receive the payment. At this time, DMMC has been collaborating and will be signed with limited partners ( the online auction house Lac Viet Online JSC and the drop-shipping consumer electronics Korea Electronics & Technologies Company) to accept cryptocurrency ( ADA and C2E) as payment.
2) DMM business model:
Please see the link: <https://lucid.app/documents/view/9aef6669-e3d2-4de6-89aa-89901abe9b20>
The Cardano ecosystem has few dApp, lacks active users, does not keep up the trend, and may lose its competitiveness with other crypto ecosystems.
We want to create a place to attract more users to Cardano by focusing on converting non-crypto users to crypto users. Non-crypto users will be given incentives in both token and cashback. We encourage them to use/hold tokens to earn more incentives on the next spending.
To retain them, we help them to use tokens (ADA and C2E) to buy tangible products by partnering with Samsung Vietnam's vendor and an auction house.
The journey to bring non-crypto users to the Cardano ecosystem and make it mass adoption is not easy and quick.
We will start it by bringing 10.000+ existing consumers of the strategic partners as Công ty TNHH Công nghệ và Điện máy Korea (Korea Electronics & Technologies Company) who bought Samsung consumer electronics and the auction house ( Lac Viet Online JSC) onboard Cardano ecosystem via the DMM mobile app and web.
Then, will be expanded to the entire non-crypto online users in Vietnam by partnering with e-Commerce sites, payment services providers, game and app publishers,…
[FEASIBILITY]
We aim to build a Minimum Viable Product version of the DMM and bring at least 10.000 non-crypto users from our strategic partners on board Cardano ecosystem via the DMM mobile application and website.
The DMM has 3 phases (Requirements gathering and design, Build, Testing and Go live)
Overview about phases:
- <u>Phase 1: </u><u>Requirements gathering and design - 2 months</u>
All elements of the scope will be clarified and will gather the data required to start the design and build. This will include processes, data requirements, and much more.
Main Tasks:
- Design: Getting the look and feel right ensuring the most important information is where we need it.
- Setup an entity in Singapore.
- Agreed on sales commission and incentive with the 2 strategic partners ( auction house and consumer electronics drop-shipping provider)
- Design tokenomics and how to control the C2E dilution
- Join Marketing plan with the 2 strategic partners
- Design non-crypto and crypto customer's journey
- <u>Phase 2: </u><u>Build - 4 months</u>
This is the largest part of the project getting everything built-in
Main Tasks:
- Build website.
- Build mobile application, Android version
- Build the DMM platform and integration with partners' API
- <u>Phase 3: </u><u>QA Testing and Go live - 2 months</u>
Main Tasks:
- System testing and bug fixing.
- Getting users' feedback and making changes
- Training & Go live
*/ Infrastructure & Data Design: (Sever system, network, security, cloud services, customer data, customers 360 profiles ..)
~ 100h x ($30/h)
*/Core Design: (customers journey, dataflows tokenomics..)
~ 70h x ($30/h)
*/Web and Mobie app graphics: (UI, UX, Items drawing ..)
~ 120h x ($35/h)
*/Co-Marketing: (Airdrop community, marketing plan, pay the advertiser …)
~ 64h x ($30/h)
*/Frontend Dev: (Web and App coding ..)
~ 120h x ($45/h)
*/Build user360 profile and engagement & : (Salesforce consultant, Salesforce developers ..)
~ 280h x ($45/h)
*/Backend Dev: (Coding API, Database query, blockchain system, monitoring, backup system ..)
~ 180h x ($45/h)
*/Blockchain developer: (Build code, Token, integrated in-platform, staking, framing ..)
~100 x ($60/h)
*/QA & Testing: (Test core coding, testing web & app, unit test, security testing ..)
~ 100 x ($30/h)
*/License Tool & Resources: (Salesforce license for Sales Cloud and Marketing Cloud for user engagement, Art tools, Dev tools, …)
~ $30.000
/*Hardware: (Server, storage, cloud services ..)
~ $4500 -> no fund (We had the initial investment)
/* Tax(10%) now 0% by support from our government for IT StartUp.
Total budget: $ 76.320
===================== Core Team=====================
1) CEO
Minh Tuan Le: (Email: [email protected]) <https://www.linkedin.com/in/minh-tuan-le-9210448>
- Tuan completed his PhD with many publications and led a technical team with 10+ years of experience in software development. Building successfully the first authorized auction platform and Online to Offline ticketing system for Landmark 81, the tallest building in Vietnam.
- Lead the mobile app ecosystem for Nokia and Microsoft. Smartphone market-share reached 24% in 2014 (Vietnam, no.1 in the world).
- Former CIO of Vincom Retail, the largest shopping mall chain in Vietnam with 70 malls
- 5 years of experience in blockchain
The other links
<https://www.slideshare.net/QuangAnh3/vietnam-mobile-day-2012-developer-opportunity-nokia>
<http://fit.mta.edu.vn/news-toctcklaptrinhwindowsphone2013.htm>
<https://giaoduc.net.vn/giao-duc-24h/lap-trinh-the-he-ke-tiep-di-dong-mang-xa-hoi-dien-toan-dam-may-post55188.gd>
2) CTO
Hung Nguyen: (Inbox: [email protected]) <https://www.linkedin.com/in/nguyen-trong-hung/>
- Expert in software development, with more than 8 years of experience in building, operating and managing information technology systems.
- Design, build and operate the leading online auction system in Vietnam LVO.
- Experience in developing backend/frontend and mobile software
- Blockchain and algorithmic application development
Roles:
- System solution design
- Database design
- Project management
3) Head of Design & Customer Experiences
Tran Huu Minh: (Inbox: [email protected]) Portfolio: <https://1drv.ms/b/s!Ash0Ys3V1p43kII2v8pdv4CnE4I6mA?e=C5fDwp>
<https://www.linkedin.com/in/minhtran2311/>
Experiences:
- Expert in the field of UI/UX design with more than 10 years of experience.
- Design experience for many large software systems.
- Experience in designing the online auction system lvo.vn
4) Head of Business Development & Partnership
Phung Tuan Anh – Director of Real Estate Project Board at Hoa Phat Real Estate Development Joinstock Company
Experiences:
+20 years of Professional Experiences in US Fortune 500 companies (Microsoft, IBM, etc.). Including 8 years at managerial level for IT companies. Proven track record in new business set-up and expansion, channel management and leading diversified teams. Corporate experience in strategic planning and operational processes. Known for interpersonal and communication skills.
Specialties
- Managing sales-oriented organizations
- Business Development
- Consulting and Services Selling
- Developing and managing of complicated channels.
- Account management
- People management
- Change management
- Community development
Roles:
- Business development consulting
- Software development management consulting
- Auction business analysist consulting
Social media
<https://www.linkedin.com/in/anh-phung-tuan-31834924/>
5) Advisor
Nguyen Anh Tien – Enterprise Technical Specialist
Experiences:
- Funded proposer in Fund6 and Fund7
- Founder of the VILAI stake pool
- Computer science experts
- Working in the Cardano/Crypto space since 2018.
- Deploying many payment systems for major banks, financial institutions, and telecommunications in Vietnam
Roles:
- Decentralized platform consulting
- Blockchain development consulting
- System integration
Social media
LinkedIn: <https://www.linkedin.com/in/tienna/>
Telegram: t.me/tiennguyenanh
[AUDITABILITY]
Progress of development, financial and accounting statistics will be published on the project's website. Each phase of the project will have a public report.
Deliverable Key Performance Indicators (KPIs)
------------------------------------------------
Phase 1 - Requirements gathering and design - the next 2 months after approved
• Release contract between DMM and strategic partners ( Auction house and the consumer electronics dropshipping provider)
• Release document of tokenomics
• Release join marketing plan with strategic partners
• Release document of non-crypto and crypto customer's journey
• Release backend technical documentation
• Release UI/UX design documents
Phase 2 - In the next 6 months after approved
• Development servers ready
• Release Android version on Google Play
• Release version of web project & backend project
• Release document of user360 profile & user engagement on Salesforce
• Release developed software on Salesforce Sales & Marketing cloud
Phase 3 - In the next 8 months after approved
• Release Blockchain technical documentation
• Release test reports of web version
• Release test reports of Android version
• Release test reports of backend
• Announce community to join bug bounty program
• Go live the MVP of DMM with the 2 strategic partners.
The source code of the project will be public at a given Github address. Anyone can access and check the objectivity and transparency of the system.
• Successfully building an MVP version called Decentralized Metaverse Mall (DApp) that:
- Bring at least 10.000 non-crypto users from our strategic partners on board Cardano ecosystem via the DMM mobile application and website.
- No.of 30 days active crypto users reached 2000 users
- 200+ crypto consumers buy tangible items per month ( 3 months after go live)
New project.
SDG Rating
SDG goals:
Goal 11. Make cities and human settlements inclusive, safe, resilient and sustainable
Goal 17. Strengthen the means of implementation and revitalize the Global Partnership for Sustainable Development
SDG subgoals:
11.b By 2020, substantially increase the number of cities and human settlements adopting and implementing integrated policies and plans towards inclusion, resource efficiency, mitigation and adaptation to climate change, resilience to disasters, and develop and implement, in line with the Sendai Framework for Disaster Risk Reduction 2015–2030, holistic disaster risk management at all levels
Key Performance Indicator (KPI):
11.b.1 Number of countries that adopt and implement national disaster risk reduction strategies in line with the Sendai Framework for Disaster Risk Reduction 2015–2030
11.b.2 Proportion of local governments that adopt and implement local disaster risk reduction strategies in line with national disaster risk reduction strategies
#proposertoolsdg
