over budget impact proposal

Imani Web3 Legal Services Portal

$50,000.00 Requested
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Community Review Results (1 reviewers)
Impact / Alignment
Feasibility
Auditability
Solution

Imani Partners proposes a conversational app platform that guides entrepreneurs and businesses to internationally compliant legal services and structures relevant to Web3 Crypto Blockchain providers.

Problem:

Legal services for the Web3 Crypto Blockchain space are difficult to navigate. The greatest challenges are determining what services are needed, where to obtain said services, and providers to trust.

Yes Votes:
₳ 59,603,871
No Votes:
₳ 26,286,145
Votes Cast:
426

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[IMPACT] Please describe your proposed solution.

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The problem we are solving is lack of clarity in who to talk to when deciding on launching a blockchain project - specifically one that may involve raising capital with NFTs, utility tokens, or security tokens.

Currently even determining which jurisdiction to incorporate in, or how to structure your project is too confusing - and then once determined, too expensive.

Everything from taxation issues, to even determining if your project is subject to regulatory oversight is daunting.

Our approach is to build an online one stop shop solution that culminates where needed in an introduction to a legal professional qualified to assist the project team on their journey to bring their service to market.

Our solution is an app and SaaS web application framework that:

  • provide a conversational form based application platform that will accelerate the acquisition of the legal services Web3 projects require
  • provides workflows and a database of regulatory / jurisdictional regimes and their approach to Web3 Crypto Blockchain technology
  • provides workflows and a database of considerations for the capital acquisition processes most considered by Web3 projects

Our work will result in a one stop shop for the legal support needed to establish and operate a Web3 service. This process will be initiated through our mobile app and SaaS web application framework.

The legal services cover but are not limited to dealing with jurisdictions of incorporation, tax, ownership, and regulatory issues associated with the establishment of a technology firm or service operating in this new and sensitive Web3, Cryptocurrency, and blockchain space.

Our solution is unique because it combines the delivery of legal services relevant to the Web3 space that have the international jurisdictional scope Crypto Blockchain technologies require; alone with the establishment of a comprehensive database of jurisdiction and regulatory regimes that Web3 project leads must be aware of to operate legally in the space.

Our solution benefits Web3 Crypto Blockchain developers globally. We assist developers in determining where and how to setup their operations to legally and profitably operate within their respective target markets.

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

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At a fundamental level our solution assists project owners in determining the following:

  • in which jurisdictions should their project be based
  • what legal structure will best enable their project to enter the market
  • will their project be subject to regulatory oversight
  • what capital structure should be employed and what are the tax and regulatory implications
  • what regulatory issues (KYC, securities concerns, taxation concerns) will their project trigger and what mitigating steps should we consider
  • the big one - NFT, Utility Token, Security Token, Debt, Equity - which should be employed and why?

Our proposed solution addresses the key areas of the challenge including but not limited to:

  • Providing funded proposals with solutions and services to operate legally in their residing country or other countries where a market for their services exists

  • Ensures that the projects within the Cardano Ecosystem are able to broaden their horizons and increase their impact on the Ecosystem with properly explored and established legal and financial frameworks

  • Promote adoption and improve product ownership through the delivery of professional legal solutions to application developers

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

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Our project team is experienced and currently is one of the premiere providers of legal services in the Web3 space having provided legal opinions and advisory services on issues ranging from taxation, to regulatory, to jurisdictional selection.

There is nothing that will prevent our ability to successful deliver the project.

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

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Total Project Duration 6 Months

<u>1 Months Post Funding (Design, Technical Implementation, Deployment)</u>

  • create project technology specification
  • identify leading chains and their signature projects
  • define best approach for connecting with Catalyst funded projects
  • build project awareness and establish website
  • integrate with BlockchaininBusiness.io and build awareness about data entry and research requirements
  • create employment / FTE requirement plan

<u>2 Months (Technology Implementation)</u>

  • build application conversational forms
  • build reporting modules
  • build out mobile application interface
  • build automation functionalities that provide secure connection to legal professionals

<u>2 Months. (Legal Services, Regulatory Body Database)</u>

  • data entry and validation of effectiveness of captured data - metrics will need to be defined for number of entries per person per day
  • facilitate public participation in conversational form requirements
  • promotion through Cardano and other selected chain authorities
  • begin Regulatory outreach and database population and promotion
  • test revenue generating models with key partners

<u>1 Month. (Initiate Sustainability)</u>

  • implement revenue generating models
  • Audit and submit project closeout report
  • Monitor & Sustain project gains

Izzat-Begum B. Rajan is involved as a key advisor in two other proposed projects in Fund 9. These projects are in the Dapps, Products & Integration challenge (Fiat to NFT Payment Gateway, and Metaverse Jobs & Gigs) and basically are in keeping with her standard delivery of professional legal services. The work associated with these projects will be supported by her team of two mid-level attorneys and partners in Paris and Dubai. Since her contribution is not from an IT / programming / technical perspective, the workload will not be a problem.

Izzat's involvement in these two projects and many more unrelated to Catalyst within the Cardano ecosystem (and in the broader crypto-currency and blockchain space) validates the need for and informs the concept behind this proposal.

[FEASIBILITY] Please provide a detailed budget breakdown.

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<u>Budget: 50 000 USD</u>

25 000 USD: Build - Design, Technical Implementation, Deployment

  • 10 000 USD - develop secure platform for legal service providers to be able to securely communicate with clients that have been on-boarded through conversational forms, data entry and data verification module with triage support to enable developers to access the relevant services quickly
  • 5 000 USD - develop regulatory body search listing and data entry console for global Web3 jurisdiction friendliness overview
  • 5 000 USD - develop conversational form and / or capture mechanism
  • 1 000 USD - develop design user-interface (public, admin, legal services owner) with potential for revenue generating support via e-learning, featured events, featured listings, and more
  • 2 500 USD - develop reporting / automated metric capture tool
  • 1 500 USD - hosting, scaling, infrastructure

25 000 USD: Deploy - Legal Services, Regulatory Body Database, Sustainability

10 000 USD Legal Services

  • target 10 key legal services required by Web3 project leaders
  • refine conversational form approach to determining project needs
  • define services which can be delivered with minimal touchpoints vs those requiring direct contact and interviews
  • create workflows and considerations specific to project type
  • create workflows and considerations specific to project jurisdiction
  • create workflows and considerations specific to project investment and capitalization

10 000 USD Regulatory Body Database

  • outreach to main regulatory bodies to determine key contacts
  • define approach for obtaining the latest information on the crypto Web3 regulatory environment
  • a searchable database of key contacts and legislations

5 000 USD Sustainability

  • establish and manage revenue model for long-term project sustainability

  • creating environment for organic listing growth

  • working with partners to define novel feature pages, filters, and facets

  • promotion of platform online

  • promotion of platform at events, conferences, seminars

  • direct corporate outreach

  • travel & coordination

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

Imani Partners (https://www.imanipartners.com/) is a unique firm advising companies operating on-chain in many different ecosystems (BTC, ETH, ADA, etc). We advise pre and post seed-funding companies, as well as well funded ventures.

Izzat-Begum B. Rajan - IMANI was founded by Izzat-Begum B. Rajan (<https://www.linkedin.com/in/izzat-begum-b-rajan-9813225/>) in 2009. Izzat-Begum, HEAD OF TAX PRACTICE AND SENIOR COUNSEL at ADG Legal (<https://adglegal.com/people/izzat-begum-b-rajan/>), combines almost 25 years of experience in tax-efficient legal structuring and large tax disputes management. More broadly, she offers a unique blend of skills to handle Legal, Tax, and Financial matters as she built her career in multinationals in Europe (Cap Gemini, Loyens, Maersk at Group Tax Department for a number of years) and in Africa (Ernst & Young as Equity Partner for Francophone Africa). She also developed a strong knowledge of impact projects and social enterprises mainly gained at the Aga Khan Development Network (AKDN, IPS) when based in Nairobi, Kenya.

Andrew Forson - Technology Lead @SCI. Has significant experience in the blockchain application space with past and/or present Cardano related roles with Emurgo, Joget, IAMX, Empowa, SIKA, and more. <https://www.linkedin.com/in/paforson/>

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

No - this funding round covers all costs needed to create, launch, market, and operate the project. This will be a revenue generating project and will be self-sustaining going forward.

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

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Operational Measures of Progress:

  • number of projects served
  • number of inquiries generated
  • number of regulatory frameworks listed in the database
  • number of jurisdiction profiles listed in the database
  • geographic footprint of listings
  • geographic distribution of project inquiries
  • number of operational workflows profiled
  • delivery of mobile and desktop versions of the site
  • cross-chain participation - how many non-Cardano projects are availing themselves of the platform
  • revenue model

Strategic Measures of Progress:

  • Marketing visibility within the IOG Cardano Emurgo axis

  • Number of large capitalization projects that have employed our platform services

  • Number of startup projects engaging our services

  • Number of existing projects that are engaging our services

  • Number of regulators with which a strategic reporting relationship is established

  • Number of jurisdictions for which regulatory profiles are created and accessible online

  • Standard google analysis of web traffic

  • Project closed on time and within budget

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

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Success for this project looks like this:

  • a publicly available SaaS that is mobile responsive and simply and easily guides project leads to the legal services and legal practitioners they need
  • an admin console for legal practitioners to respond to and service prospective and engaged clients
  • a conversational forms based system of guiding project owners to the specific informational resources or legal services and practitioners needed to solve their problems
  • integrated reports on the jurisdictions and regulatory frameworks that concern token and NFT generating projects from security, tax, and other perspectives
  • in the long-run a financially self-sustaining tool that generates revenue through the provision of premium services to include but not be limited to highlighted projects

Ultimately, through a unified seamless web experience, users will be able to gain a clear perspective on the best options for the location and regulatory oversight for their project; and have an understanding of the issues and legal requirements that may govern their ability to operate as planned.

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

This is an entirely new proposal. This proposal will integrate with https://cardano.ideascale.com/c/idea/401951, The BlockchaininBusiness.io Cross-chain Directory in order to expose more projects to the legal and regulatory guidance they need.

Sustainable Development Goals (SDG) Rating

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SDG goals:

Achieve gender equality and empower all women and girls

Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

Reduce inequality within and among countries

SDG subgoals:

Ensure equal opportunity and reduce inequalities of outcome, including by eliminating discriminatory laws, policies and practices and promoting appropriate legislation, policies and action in this regard

Undertake reforms to give women equal rights to economic resources, as well as access to ownership and control over land and other forms of property, financial services, inheritance and natural resources, in accordance with national laws

Key Performance Indicator (KPI):

Proportion of countries where the legal framework (including customary law) guarantees women’s equal rights to land ownership and/or control

#proposertoolsdg

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