Week #1 #

Team Formation and Project Proposal #

Team Members #

Value Proposition #

• Identify the Problem: Traditional crowdfunding platforms often lack transparency and accountability, leading to potential fraud and misuse of funds. Additionally, there are barriers for global participation due to currency and regulatory constraints.

• Solution Description: Block Funders is a blockchain-based crowdfunding service that allows projects to receive funding in cryptocurrency. By leveraging blockchain technology, we ensure transparency and traceability of funds. Our platform includes KYC (Know Your Customer) verification to ensure the legitimacy of fund recipients.

• Benefits to Users:

  • Enhanced transparency and trust through blockchain technology
  • Secure and traceable transactions
  • Global accessibility with cryptocurrency support
  • KYC integration to verify the identity of fund recipients

• Differentiation: Unlike traditional crowdfunding platforms, Block Funders offers a fully transparent and secure funding environment. The use of blockchain technology eliminates intermediaries, reduces fraud risk, and ensures that funds are used as intended.

• User Impact: Users can confidently invest in projects knowing their funds are secure and traceable. Project creators can reach a global audience without worrying about currency conversion and regulatory issues.

• User Testimonials or Use Cases:

  • “Using Block Funders, I was able to raise funds from backers all over the world without worrying about currency conversion issues.” - Jane Doe, Project Creator
  • “The transparency provided by blockchain gave me the confidence to invest in a project, knowing my funds would be used as intended.” - John Smith, Backer

Lean Questionnaire #

1. What problem or need does your software project address? Block Funders addresses the lack of transparency, security, and global accessibility in traditional crowdfunding platforms.

2. Who are your target users or customers? Our target users include project creators seeking funding and backers looking for secure and transparent investment opportunities in innovative projects.

3. How will you validate and test your assumptions about the project? We will validate our assumptions through user surveys, beta testing with early adopters, and analyzing blockchain transaction data to ensure transparency and security.

4. What metrics will you use to measure the success of your project?

   • Number of successful projects funded
   • Total amount of funds raised through the platform
   • User satisfaction ratings and feedback
   • Number of verified users (KYC completed)

5. How do you plan to iterate and pivot if necessary based on user feedback? We will regularly collect and analyze user feedback to identify pain points and areas for improvement. Based on this feedback, we will prioritize feature updates and make necessary adjustments to our platform.

Leveraging Open-Source and Experts #

Our team will use open-source blockchain technologies to build our platform, ensuring transparency and security. Additionally, we will collaborate with blockchain and crowdfunding experts to continuously refine our platform and stay ahead of industry trends.

Defining the Vision for Your Project #

• Overview: Block Funders aims to revolutionize the crowdfunding industry by providing a transparent, secure, and globally accessible platform for funding innovative projects using cryptocurrency.

• Schematic Drawings:

• Tech Stack:

  • Frontend: React, HTML, CSS, JavaScript
  • Backend: Node.js, Express
  • Blockchain: Ethereum, Solidity, Smart Contracts
  • Database: MongoDB
  • Authentication: OAuth, JWT
  • KYC: Verification system