Detailed Plan
Preamble: First stage would be an assessment of the problem, drawing together input and information from across the space to ascertain more precisely the scale and nature of the problem, and to get an idea which starting point would be likely to deliver the greatest benefits for the community in the shortest time, given the resources. Then it would be the task to use this information to start to design solutions which align with the vision detailed below.
The vision
Vision is open-minded, but I imagine a solution that includes most of the following in some form :
- provide value for very kind of user from the whole Cardano community, from new users to organisations with functionality to suit: eg basic app could allow checking of addresses to see if they are blacklisted, or reporting of URLs or giving evidence or questioning, and for example lawyers (etc) acting on behalf of the community could use this to make cases, propose rules or enforce. The level of complexity would depend on needs of user - but important that for the most vulnerable it is lightweight and easy.
- fully integrable and expandable via APIs etc : different apps/Dapps would be able to use, so that for example payment systems could decide to automatically check for blacklisted addresses, or “trainer” apps for people completely new to crypto could get warnings for worrying transactions etc (all configurable by user eg “new” users can signpost, while experienced users can choose not to have same protections
- perhaps some kind of reward system which encourages safe use of the system and rewards (honest) reporting, or gamification to educate and inform
- provides statistics, reports, information on demand (eg on costs of scams ) and access to relevant resources
- crypto insurance, probably via integration with third-parties or DAO
- “just works”, non-technical, ease-of-access, and ease-of-use as top priorities
- generally raising awareness and salience of the problem in *and outside* the community, so that everyone can see we are taking this seriously and are tackling it
- linked to different teams who are working on the problem, from various organisations, either directly or by supporting a community concerning itself with all issues pertaining to this
- supporting or including any means or ideas of making scams more difficult to engage in , more highlighted, more obvious and less damaging
- international, independent, fully audit-able and de-centralised approach (naturally) to solutions as much as possible, though able to work with relevant bodies (eg local authorities) where necessary and useful for objectives of the community
- open-source technologies
It’s important
I very strongly believe that we need to do something on this, and quite urgently, because - aside from the suffering of the unfortunate victims of scammers and criminals in this space - enemies of crypto and regulators will surely take advantage of the climate of fear and distrust to try to damage the space. We need to act now while we still have time and before the whole crypto space is irrecoverably tainted. The threat increases as scammers and criminals get access to increasingly sophisticated AI (machine-learning) and other technologies, potentially threatening the health and trustworthiness of the entire eco-system in the eyes of the mainstream (ironically, since blockchains are primarily to solve the issue of trust!).
What could success look like?
Definitions of success will include much greater (and increasing) awareness of scams, more informed users, better-protected users with a number of options, more follow-up (eg enforcement, criminal prosecutions and fund recoveries), (de-centralised) insurance and/or other integrations, making an impact on the (relative) cost of scams to our eco-system, preventing catastrophic events and excessive regulation etc, a healthier eco-system which people feel they can trust, believe in and use safely even if they are not tech specialists (this last part is important- must benefit ordinary, non-technical users).
If successful, this can indirectly help *all* other apps/Dapps in the space by fostering the idea that crypto, and in particular Cardano, can be a responsible and safe space to invest and develop in.
There’s no shortage of press on the problem eg :
https://www.washingtonpost.com/business/2021/05/18/ftc-cryptocurrency-scams/
https://www.forbes.com/sites/pawelkuskowski/2021/03/15/what-is-crypto-crimes-true-cost/
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Final note:
I’m completely new at this and trying for the very first time, so please get in touch if you can help/advise/improve