Please describe your proposed solution.

An established business already has a substantial investment in their IT Infrastructure and digital commerce platform. Many businesses want to adopt blockchain technology and harness Cardano's capabilities, but sadly there aren't any native integrations into existing digital commerce platforms such as Adobe Commerce, Shopify, or BigCommerce as an example. Traditional digital commerce platforms cannot natively integrate blockchain technology because blockchain currencies like Cardano are not even installed as localized currencies as is the USD, or EURO. These traditional platforms also lack scaleable price precision and a products price is limited to 4 decimal places which are then rounded up to the standard 2 decimal place price precision used by fiat currencies. There is no native currency rate import service that allows digital commerce shop owners and customers to convert their base currency (example: $ USD) to Cardano ($ADA) or any other form of currency that is not installed within the platforms frameworks. All current blockchain integrations out on the market do not even address these issues, whether it's a payment gateway integration with a leading exchange, or a simple embedded NFT minting button component, and instead create a bandaid over these issues. Moreover, there is not one Cardano blockchain product or service that allows a company to sell physical products the way a traditional commerce platform can, such as Adobe Commerce, which thwarts mass adoption among established businesses.

Our suite of products are multi-store compatible and we are developing the following Magento 2 modules to seamlessly integrate Cardano into Adobe OpenSource (Magento 2):

• Currency Services
• Natively install Cardano as a localized currency alongside USD and other fiat currencies
• Price precision support for up to 6 decimal places
• Customers can change currencies while shopping from Fiat -> ADA and vice-versa
• Product prices are automatically converted based on the saved currency rates imported by CoinGecko
• CoinGecko currency rate import (ADA -> USD, USD -> ADA, etc)
• Automatically import rates using a cron-job which can be set up via the administration control panel
• Built-in native self-custodial wallet(s)
• Shop owners can create multiple wallets for company purposes as well as for customers
• Administrators can decide which wallet they want to use for receiving order payments, which one they want to mint FTs/NFTs from etc.
• Built-In Staking options and management
• Integration with 3rd party browser wallets for use by customers during the checkout process
• Cardano Payment Gateway
• This is part of a larger API that can be used alongside our Cardano Payment Method which can be used by customers during checkout to pay for orders.
• Transactions are sent straight to the Cardano node
• Shop owners can send/receive $ADA and other tokens from their Magento 2 Administration Control Panel
• Cardano Payment Method for use during one-step checkout
• FT/NFT Management System
• Administrators can mint FTs/NFTs straight from their Magento 2 administration control panel
• FTs/NFTs can be associated with physical and digital products, existing or new.
• Details are shown on the product display pages
• Option to automatically send the FTs/NFTs on Order Completion status
• Mass Import option to for FT/NFT Metadata and their associated and related products
• Minting Policies
• Create new, or Import existing minting policies, and be able to manage all from your administration control panel.
• You'll be able to not only manage them but be able to visualize them in a way that you know which FTs/NFTs are using which minting policy, the products associated with them, etc.
• Magento 2 REST & GraphQL APIs
• The API's will be available for other developers to use for developing their own Magento 2 or other modules for integrating Cardano's capabilities

We have many other Magento 2 modules that we plan on developing that will bring more Cardano functionality to traditional digital commerce platforms once we complete our proposed development.

It's important to stress that without completing our proposed items, Cardano's capabilities will never truly be realized within the traditional digital commerce sphere, and the majority of businesses will be left behind in a sort of parallel economy with fiat and blockchain running their separate courses which will not lead to mass-adoption of blockchain technology. Veralidity's products solve these issues and seamlessly integrates the capabilities of the Cardano blockchain with traditional digital commerce by giving businesses the tools they need to fully adopt Cardano's features.

How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

Veralidity aims to address the challenge of the lack of native blockchain integration in existing digital commerce platforms and the limited support for Cardano within traditional frameworks by seamlessly integrating Cardano's capabilities into platforms like Adobe Commerce. Veralidity will bridge the gap between fiat and blockchain economies, unlocking numerous benefits for the Cardano ecosystem.

Here's how our project can make a significant impact and provide value to Cardano:

1. Increased Adoption: By enabling businesses to fully adopt Cardano within their existing digital commerce platforms, our products and services opens the door for a broader range of businesses to enter the Cardano ecosystem. This increased adoption not only brings more users to the community but also expands the use cases and utility of Cardano as a blockchain platform.
2. Enhanced Integration Capabilities: Veralidity's digital commerce innovations addresses the current limitations of traditional digital commerce platforms by providing seamless integration with Cardano. This allows businesses to leverage the unique features and benefits of Cardano. Such as fast and secure transactions, smart contracts, and decentralized applications. By providing a robust integration solution, Veralidity enables the ecosystem to get stronger by promoting the widespread use of Cardano in real-world business scenarios.
3. Improved User Experience: Veralidity tackles the challenges related to price precision and currency conversion, which are crucial for businesses and customers. By providing scalable price precision and a native currency rate import service using the CoinGhecko API, Veralidity enhances the user experience within digital commerce platforms. This improvement in usability and functionality encourages more users to engage with Cardano, facilitating its growth and creating a positive perception of the ecosystem.
4. Real-world Commerce Adoption: Veralidity expands the use cases of Cardano beyond the realm of digital assets or services and establishes a bridge between blockchain and everyday business operations. By empowering established businesses to integrate Cardano seamlessly, Veralidity plays a vital role in facilitating mass adoption of Cardano as a transformative solution.

While figuring out the exact impact can be challenging, we will attract a significant number of large businesses to the Cardano ecosystem. Within a reasonable timeframe, it is realistic to aim for a substantial increase in the number of users transacting with Cardano through digital commerce platforms integrated with Veralidity and with our strategic partnership with Adobe. The precise numbers will depend on various factors such as marketing efforts, user adoption rates, and the overall growth of the Cardano ecosystem. However, by successfully addressing the challenges and providing a comprehensive solution, we will bring tangible value and contribute to the long-term success and strength of the Cardano ecosystem.

How do you intend to measure the success of your project?

To measure the success of our project, we will employ a combination of metrics. Here are some key measures that can gauge the benefits of our project for the Cardano ecosystem:

1. Adoption Metrics:

• Number of businesses integrating Cardano through Veralidity: Track the number of businesses that successfully adopt Cardano within their digital commerce platforms using your solution. This metric reflects the level of interest and engagement from established businesses.
• Increase in Cardano transactions: Monitor the growth in the number and volume of transactions processed through Cardano within the integrated digital commerce platforms. This metric demonstrates the increased usage and utility of Cardano as a result of your solution.

1. User Experience Metrics:

• User satisfaction surveys: Conduct surveys or feedback loops to gather qualitative data on user satisfaction with the integration of Cardano into their digital brick and mortar store-font. This can provide insights into the perceived value, ease of use, and overall experience of businesses and customers.
• Conversion rate: Analyze the conversion rate of visitors to buyers within the integrated digital commerce platforms. An increase in conversions can indicate the positive impact of Cardano integration on user experience and trust.

1. Ecosystem Growth Metrics:

• New businesses joining the Cardano ecosystem: Track the number of new businesses entering the Cardano ecosystem specifically due to the availability of seamless integration with traditional digital commerce platforms. This metric demonstrates our project's ability to attract new participants and expand the Cardano community.
• Increase in wallets: Monitor the growth of wallets created on Cardano, particularly those leveraging the integration with Veralidity. This metric reflects our project's contribution to the growth and diversity of the Cardano ecosystem.

In the short term, Veralidity can drive productivity and growth by enabling businesses to tap into the benefits of Cardano without undergoing extensive IT infrastructure changes. It allows established businesses to integrate blockchain technology seamlessly and take advantage of Cardano's capabilities, such as faster and more secure transactions, smart contracts, and decentralized applications. This increased productivity can lead to improved operational efficiency, reduced costs, and enhanced customer experiences.

In the long term, the innovation provided by Veralidity has the potential to catalyze broader adoption of Cardano in the traditional business landscape. By enabling businesses to sell physical products through Cardano-integrated digital commerce platforms, Veralidity contributes to breaking down the barriers between fiat and blockchain economies. This fosters a transition towards a more inclusive, blockchain-powered commerce ecosystem. As more businesses join the Cardano network through Veralidity, the demand for Cardano as a blockchain solution can grow significantly, driving the ecosystem's long-term growth and sustainability.

Please describe your plans to share the outputs and results of your project?

Sharing the outputs and results of our project is crucial to maximize Veralidity's impact and ensure that the Cardano ecosystem and relevant stakeholders can benefit from our work. Here are some plans to spread the project's outputs over a reasonable timescale:

1. Documentation and Knowledge Sharing:

• Comprehensive project documentation: Create detailed documentation that outlines the integration process, technical specifications, and best practices for integrating Cardano into Adobe Commerce. This documentation will serve as a valuable resource for businesses and developers looking to adopt Cardano in their digital commerce platforms.
• Developer resources and guides: Develop guides, tutorials, and sample code repositories that demonstrate how to leverage the Cardano integration within Adobe Commerce. These resources will empower developers to understand and utilize the capabilities of Cardano more effectively.

1. Community Engagement and Education:

• Webinars and workshops: Conduct webinars and workshops targeted at businesses, developers, and the Cardano community. These sessions can educate participants about the benefits of Cardano integration and provide hands-on training on how to implement it within Adobe Commerce and other digital commerce platforms.
• Online forums and social media: Actively participate in relevant online forums, social media platforms, and Cardano community channels to share updates, answer questions, and engage with the community. This will help raise awareness of our project and its outputs, as well as foster discussions and collaborations.

1. Partnerships and Collaborations:

• Collaboration with Cardano ecosystem projects: Identify and collaborate with other projects within the Cardano ecosystem which can amplify the reach and impact of our project, enabling broader adoption and integration of Cardano.
• Engagement with industry events and conferences: Present our project and its outcomes at relevant industry events and conferences focused on blockchain, e-Commerce, and digital transformation. This will provide opportunities to showcase our work to a wider audience and attract potential partners or customers.

Regarding further research and development activities, the results generated from our project can serve as a foundation for ongoing improvements and future innovations. Here's how we can utilize the project's results:

1. Feedback and Iteration:

• Gather feedback from businesses and developers who have adopted Cardano through Veralidity. Analyze their experiences, challenges, and suggestions to identify areas for improvement. This feedback can inform future iterations of the integration and drive continuous enhancement.

1. Expansion of Features and Services:

• Use the insights gained from the project to identify additional features or services that can enhance the integration between Cardano and digital commerce platforms. This could involve exploring new use cases, improving performance, or expanding compatibility with other platforms such as Shopify or BigCommerce.

By actively sharing the outputs, impact, and opportunities arising from our completed project, we can ensure that the Cardano community, businesses, developers, and relevant stakeholders are well-informed about the benefits and possibilities of Cardano integration. This will foster a collaborative and vibrant ecosystem and enable further advancements and adoption of Cardano in the digital commerce space.

What is your capability to deliver your project with high levels of trust and accountability?

Veralidity is well-positioned to deliver the proposed project with high levels of trust and accountability. Here are the existing capabilities that demonstrate why Veralidity is best suited to deliver this project and how it can be trusted to manage funds properly:

1. Technical Expertise and Track Record:

• Mitchell Robles, Jr's extensive experience as a solutions architect and applications engineer in the digital commerce industry, coupled with his certification as a Magento developer, showcases his deep understanding of e-Commerce platforms and technical acumen. His contributions to the Magento community and involvement in reviewing technical publications highlight his expertise in the field.
• Mitchell's track record of developing must-have Adobe Commerce extensions installed on thousands of major commerce websites underscores their ability to create high-quality solutions that meet industry standards and market demands.

1. Established Industry Reputation:

• Mitchell Robles, Jr's previous work as a technical reviewer for Packt Publishing and Manning Publications, particularly in the Adobe Commerce/Magento domain, demonstrates his recognized expertise and credibility within the industry. This reputation adds a layer of trust and reliability to Veralidity's capabilities.
• Mitchell has demonstrated through his involvement as the sole technical reviewer for Packt Publishing's Magento 2 Developer's Guide book, signifies his his deep understanding of its intricacies.

1. Transparent Fund Management Processes:

• Veralidity will establish clear and transparent processes for managing funds allocated to the project. These processes will include regular financial reporting, budget allocation plans, and mechanisms for tracking and documenting project expenses.
• Funds will be managed responsibly, adhering to financial best practices and ensuring proper allocation towards project milestones and deliverables. Veralidity will maintain detailed records of financial transactions and provide accurate and timely reports to project stakeholders and the Cardano ecosystem as needed.

1. Community Engagement and Collaboration:

• Veralidity is committed to active community engagement and collaboration. This includes regular updates, progress reports, and open communication with the Cardano community, Project Catalyst, and other relevant stakeholders. The transparency and responsiveness demonstrated by Veralidity in these interactions build trust and accountability.
• Veralidity will actively seek feedback from users, businesses, and the Cardano community to ensure their needs are addressed and incorporated into the project's development and management.

By combining technical expertise, an established industry reputation, transparent fund management processes, and a commitment to community engagement, Veralidity is well-equipped to deliver the proposed project with high levels of trust and accountability. These capabilities demonstrate the team's ability to execute the project effectively, responsibly manage funds, and ensure the project's success within the Cardano ecosystem.

What are the main goals for the project and how will you validate if your approach is feasible?

Veralidity's main goal is to merge Cardano's capabilities with traditional digital commerce platforms; a marriage if you will of web2 & web3, and is outlined as follows:

1. Seamless Integration: The primary goal is to seamlessly integrate Cardano's capabilities into traditional digital commerce platforms, specifically Adobe Commerce. This involves enabling native support for Cardano as a currency, scalable price precision, currency rate import, conversion functionalities, non-custodial wallet module, NFT minting module, payment gateway module, payment method module, and other associated modules that facilitate this functionality.
2. Enhanced Functionality: The project aims to enhance the functionality of digital commerce platforms by leveraging Cardano's features. This includes enabling store administrators to mint NFTs and associate them with physical or digital products, facilitating secure and efficient payment transactions through the payment gateway and method modules, and providing a comprehensive API for seamless integration with other systems such as Shopify.
3. Real-world Commerce Adoption: Another key goal is to enable established businesses to sell physical products using Cardano within the Adobe Commerce platform. By bridging the gap between traditional commerce and blockchain technology, Veralidity seeks to drive mass adoption of Cardano among businesses and demonstrate its viability as a commerce solution.

To validate the feasibility of our project's approach, the following steps can be taken:

1. Technical Proof-of-Concept: Build upon the existing working modules and complete the development of the non-custodial wallet module, NFT minting module, payment gateway module, and associated functionalities. Validate the integration of these modules within the Adobe Commerce environment and ensure their seamless operation.
2. User Testing and Feedback: Conduct extensive user testing and gather feedback from businesses and store administrators who utilize Veralidity's integrated solutions. This feedback will help validate the feasibility of the approach by assessing the usability, performance, and overall satisfaction of the users.
3. Beta Testing and Pilot Implementations: Deploy the integrated Veralidity solution to a select group of businesses or partners for beta testing and pilot implementations. Monitor the performance, adoption rate, and user feedback during this phase to validate the feasibility of the approach in real-world scenarios.
4. Key Performance Indicators (KPIs): Establish relevant KPIs to measure the success of the project's goals. These KPIs can include metrics such as the number of businesses adopting Cardano integration through Veralidity, the increase in Cardano transactions processed through the integrated digital commerce platforms, the growth of dApps utilizing our API, and user satisfaction surveys.

While some goals, such as improving user experience, may be challenging to quantify numerically, qualitative measures can be utilized. User feedback, surveys, and customer testimonials can provide valuable insights into the achievement of these qualitative goals. Additionally, tracking key metrics related to user engagement, conversion rates, and repeat business can provide indications of the impact and success of our project's objectives.

The implementation of the approach will involve leveraging Veralidity's existing capabilities, such as the developed modules, CoinGecko API for currency rate import, and integrating these functionalities within the Adobe Commerce platform. The technical implementation will follow established software development practices, ensuring robustness, security, and scalability of the integrated solution.

Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.

Milestone 1: Cardano Magento Integration

• Main Tasks:

• Configuration settings in the Magento Admin interface for general, design, and SEO.

• Wallet address functionality, including spending/payment address and keys, policy script and keys.

• Assets management, including creating and associating assets with products.

• Minting functionality with transactional metadata and estimated fees.

• Theme customization for header navigation, footer links, and grid/list view of assets.

• Asset view details modal or slide-out.

• Minted assets tab in product view with associated product and related product lists.

• Timeline: Estimated completion time of 4 months.

• Success/Acceptance Criteria:

• All configuration settings are functional and accurately reflect the desired behavior.

• Wallet address functionality allows for seamless handling of Cardano transactions.

• Assets can be created, associated with products, and viewed in the frontend.

• Minting functionality successfully mints assets with proper metadata and estimated fees.

• Theme customization aligns with the design requirements and provides a visually appealing frontend experience.

• Asset view details and associated product/related product lists provide accurate and comprehensive information.

• Projected Cost: ₳ 150,000

Milestone 2: Veralidity Partnership(s)

• Main Tasks:

• Identify potential strategic partners within the Cardano ecosystem.

• Establish partnerships through negotiations and formal agreements.

• Timeline: Estimated completion time of 2 months.

• Success/Acceptance Criteria:

• A list of potential strategic partners is identified and assessed.

• Successful negotiations and agreements are reached with selected partners.

• Projected Cost: ₳ 70,000

Milestone 3: Veralidity Website Design & Development, Grow Online Presence

• Main Tasks:

• Design and develop the Veralidity website.

• Implement digital marketing strategies for online promotion and brand awareness.

• Timeline: Estimated completion time of 4 months.

• Success/Acceptance Criteria:

• The Veralidity website is fully functional, visually appealing, and showcases the project's solutions and value proposition.

• Digital marketing strategies are implemented, resulting in increased online visibility, brand awareness, and user engagement.

• Projected Cost: ₳ 140,000

Milestone 4: Cardano Magento Integration - Expansion and Refinement

• Main Tasks:

• Further development and enhancement of Cardano Magento Integration features.

• Incorporation of additional functionalities based on user feedback and requirements.

• Timeline: Estimated completion time of 5 months.

• Success/Acceptance Criteria:

• New features and enhancements are successfully implemented and aligned with user expectations.

• User feedback is collected and incorporated into the refinement process.

• The integrated solution demonstrates improved usability and functionality.

• Projected Cost: ₳ 350,000

Milestone 5: Educational Outreach and Smart Contract Integrations

• Main Tasks:

• Develop and provide educational resources and channels for community learning.

• Integrate smart contracts, including FT/NFT contracts, into the Cardano Magento Integration (timeline dependent on Cardano rollout).

• Timeline: Estimated completion time of 6 months.

• Success/Acceptance Criteria:

• Educational resources are created and made accessible to the community.

• Smart contracts are successfully integrated into the Cardano Magento Integration, expanding the solution's capabilities.

• Projected Cost: ₳ 250,000

Implementation Plan:

1. Project Initiation:

• Gather project team members.
• Define project goals, scope, and deliverables.
• Establish project management approach and communication channels.

1. Milestone Planning:

• Break down the project into milestones, tasks, and activities.
• Determine dependencies, timelines, and resource requirements for each milestone.

1. Execution:

• Allocate resources and assign tasks to team members.
• Monitor progress, track milestones, and manage risks.
• Ensure effective communication and collaboration among team members.
• Conduct regular reviews and adjustments to stay on track.

1. Quality Assurance:

• Conduct thorough testing and quality assurance checks for each milestone.
• Collect user feedback and incorporate improvements based on testing results.

1. Deployment and Release:

• Release completed milestones and deliverables to the community.
• Monitor user adoption, gather feedback, and address any issues promptly.

1. Project Closure:

• Evaluate project outcomes and measure against success criteria.
• Document lessons learned and best practices.
• Prepare for the handover of ongoing support and maintenance, if applicable.

Overall Project Management Approach:

• Agile methodologies will be employed to ensure flexibility, adaptability, and continuous improvement.
• Regular team meetings and progress updates will foster effective communication and collaboration.
• Project tracking tools and task management systems will be utilized for efficient planning and execution.
• Continuous testing, feedback collection, and iterative development will ensure high-quality deliverables.

The project team will adhere to the timeline and milestones outlined above, ensuring that each milestone is properly executed and verified before moving on to the next.

Please describe the deliverables, outputs and intended outcomes of each milestone.

Milestone 1: Cardano Adobe Commerce (Magento 2) Integration - Semi-Completed

Deliverables:

Our suite of products are multi-store compatible and we are developing the following Magento 2 modules to seamlessly integrate Cardano into Adobe OpenSource (Magento 2):

• React and Websocket implementation within Adobe Magento 2 compilation
• Curency Services
• Natively install Cardano as a localized currency alongside USD and other fiat currencies
• Price precision support for up to 6 decimal places
• Customers can change currencies while shopping from Fiat -> ADA and vice-versa
• Product prices are automatically converted based on the saved currency rates imported by CoinGecko
• CoinGecko currency rate import (ADA -> USD, USD -> ADA, etc)
• Automatically import rates using a cron-job which can be set up via the administration control panel
• Built-in native self-custodial wallet(s)
• Shop owners can create multiple wallets for company purposes as well as for customers
• Administrators can decide which wallet they want to use for various tasks such as payment processing, minting, staking, etc.
• Built-In Staking options and management
• Integration with 3rd party browser wallets for use by customers during the checkout process
• Cardano Payment Gateway
• This is part of a larger API that can be used alongside our Cardano Payment Method which can be used by customers during checkout to pay for orders.
• Transactions are sent straight to the Cardano node
• Shop owners can send/receive $ADA and other tokens from their Magento 2 Administration Control Panel
• Cardano Payment Method for use during one-step checkout
• FT/NFT Management System
• Administrators can mint FTs/NFTs straight from their Magento 2 administration control panel
• FTs/NFTs can be associated with physical and digital products, existing or new.
• Details are shown on the product display pages
• Option to automatically send the FTs/NFTs on Order Completion status
• Mass Import option to for FT/NFT Metadata and their associated and related products
• Minting Policies
• Create new, or Import existing minting policies, and be able to manage all from your administration control panel.
• You'll be able to not only manage them but be able to visualize them in a way that you know which FTs/NFTs are using which minting policy, the products associated with them, etc.
• Magento 2 REST & GraphQL APIs
• The API's will be available for other developers to use for developing their own Magento 2 or other modules for integrating Cardano's capabilities

Intended Outcomes:

• Seamless integration of Cardano capabilities into Adobe Commerce (Magento 2)/Adobe Commerce.
• Enable store administrators to manage Cardano-related functionalities within the Adobe Commerce (Magento 2) admin interface.
• Provide customers with a user-friendly frontend experience to view and interact with Cardano minted assets.

Measurement of Progress:

• Successful completion of the above deliverables as outlined in the milestone plan.
• Verification of functionality through user testing and feedback from administrators and customers.

Milestone 2: Veralidity Partnership(s)

Deliverables:

• Establishment of strategic partnerships with relevant entities in the Cardano ecosystem.

Intended Outcomes:

• Collaborative engagements with other projects, organizations, or businesses in the Cardano ecosystem.
• Expand the reach and impact of Veralidity through partnerships and cooperative efforts.

Measurement of Progress:

• Identification and formation of partnerships.
• Documentation of partnership agreements and objectives.

Milestone 3: Veralidity Website Design & Development, Grow Online Presence

Deliverables:

• Design and development of the Veralidity website, incorporating branding and relevant information.
• Creation and implementation of a digital marketing strategy, including social media campaigns and online promotions.

Intended Outcomes:

• A professional and informative website that showcases Veralidity's solutions and value proposition.
• Increased online visibility, brand awareness, and engagement with the target audience.

Measurement of Progress:

• Completion of the website design and development.
• Monitoring website traffic, engagement metrics, and social media interactions.

Milestone 4: Cardano Adobe Commerce (Magento 2) Integration - Expansion and Refinement

Deliverables:

• Additional features and functionalities for the Cardano Adobe Commerce (Magento 2) Integration, including:
• UX/UI build-out
• Wallet management enhancements.
• Monetary/Minting policies management.
• Transaction tracking and history.
• Customer wallet functionality and asset listing.
• Enhanced sales order processing and communication.

Intended Outcomes:

• Continued improvement and refinement of the Cardano Adobe Commerce Integration based on user feedback and requirements.
• Streamlined and user-friendly processes for administrators and customers in managing Cardano-related functionalities within Adobe Commerce (Magento 2).

Measurement of Progress:

• Successful implementation of new features and functionalities.
• Feedback from users on the usability and effectiveness of the enhancements.

Milestone 5: Educational Outreach and Smart Contract Integrations

Deliverables:

• Establishment of a curriculum and channels for community learning and educational resources related to Cardano and Veralidity.
• Integration of smart contracts, including FT/NFT contracts, into the Cardano Adobe Commerce (Magento 2) Integration (timeline dependent on Cardano rollout).

Intended Outcomes:

• Increased knowledge and understanding of Cardano and Veralidity among the community.
• Support for developers and businesses in utilizing smart contracts within the integrated solution.

Measurement of Progress:

• Development and availability of educational resources.
• Successful integration of smart contracts into the Cardano Adobe Commerce (Magento 2) Integration.

Progress Tracking and Measurement:

• The completion of each milestone and associated deliverables will serve as tangible indicators of progress.
• User testing, feedback, and satisfaction surveys will help gauge the effectiveness and usability of the integrated solution.
• Key performance indicators (KPIs) related to website traffic, engagement, and social media metrics will measure the impact of the online presence growth.
• Partnerships established, agreements documented, and collaboration efforts will indicate progress in forming partnerships.
• Documentation of completed milestones, feedback from users, and progress against the project timeline will contribute to the overall measurement of project advancement.

Please provide a detailed budget breakdown of the proposed work and resources.

Here's a breakdown of the budget we're requesting:

<u>Legal Advisory:</u> ₳70,000 (one-time fee)

<u>Accountant:</u> ₳7,000 (monthly fee for 6 months)

<u>Strategic Partnership:</u> ₳70,000 (yearly fee)

• This cost represents the fee associated with acquiring a Gold level Adobe Solution Partnership. As part of the Gold level partnership, Adobe will showcase Veralidity in their Partner Spotlight on Adobe social channels, and we will be provided with marketing and sales support, as well as many other benefits. For more information please see here: https://solutionpartners.adobe.com/solution-partners/benefits.html#seeallbenefits

<u>Marketing:</u> ₳ 35,000 (monthly fee for 6 months)

• This is our monthly budget for traditional and digital marketing services by a 3rd party agency TBD at a later date depending on quotes scoped out and acquired.

<u>UX/UI Design:</u> ₳ 65,000 (one-time)

• We will be hiring an outside design agency named LJGDigital (formerly LJG Partners) who our founder and the brains behind Veralidity used to be employed by as a Programmer a little over decade ago. We are more than confident that they will deliver award winning designs for us. We've already hired and paid them to design the Veralidity logo / branding, and the budget allocated for the UX/UI design portion of work is what has already been quoted to us by LJGDigital to finish the scope of work that we outlined for them. We will be able to provide a breakdown and outline of the scope of work once finalized with LJG.

<u>Software Development:</u> ₳ 70,000 (monthly fee for 6 months)

• All development will continue to be in-house and this monthly budget covers in-house software development costs and allows for hiring additional developers for specific positions.

<u>Veralidity Stake Pool:</u> ₳ 135,000 (one-time)

• Business owners who have our native built-in Adobe Commerce modules/extensions installed will be able to automatically stake their digital assets with the Veralidity Stake Pool. We will partner with and open this up to other SPO's at a later date. Our Adobe Commerce integrations will also use these nodes for creating wallets, submitting transactions, querying the blockchain, and etc. This cost includes the establishment of the Veralidity Stake Pool, including the purchase or leasing servers and our initial Stake Pool pledge using the remaining allocated funds. The hardware used for the Cardano Nodes will also be used later down the road for use in our NDS (Node Delivery System) which is not a part of this proposal.

<u>Web Hosting:</u> ₳ 2,000 (monthly fee for 6 months)

• Implementation of an auto-scaling cluster environment.

Who is in the project team and what are their roles?

Mitchell Robles, Jr.

Roles: Bossman, Lead Engineer

(does not use social media except for the Veralidity Twitter account, but can and will have public interactions (discussions, interviews, speaking engagements, etc with the community to prove I am who I am)

Matthew Olsen - (currently employed as a Software Engineer at Microsoft)

Roles: Full stack developer, systems engineer, Haskell development

https://www.linkedin.com/in/matthew-olsen-1180a833

Jose Maldonado

Roles: Front-development, Dev-Ops

https://www.linkedin.com/in/josejmaldonado

How does the cost of the project represent value for money for the Cardano ecosystem?

The costs associated have been determined based on various factors and considerations to ensure value for money for the Cardano ecosystem. Here's an explanation of the costs and how they represent value:

1. Legal Advisory, Accountant, and Strategic Partnership:

• The costs associated with legal advisory, accounting, and strategic partnership represent investments in essential professional services that contribute to our project's success and compliance. These services ensure that our project operates within legal frameworks, maintains proper financial management, and benefits from collaboration with reputable partners. The costs are justified by the expertise and support provided by these professionals, which are crucial for our project's growth, sustainability, and credibility.

1. Marketing and UX/UI Design:

• The allocated budget for marketing and UX/UI design reflects the importance of creating a strong brand presence and user-centric interfaces for Veralidity. Effective marketing efforts are essential for attracting users, driving adoption, and showcasing the benefits of integrating Cardano into traditional digital commerce platforms. Similarly, investing in professional UX/UI design ensures a visually appealing, intuitive, and seamless user experience, which contributes to user satisfaction and engagement. These costs are proportionate to the value they bring in terms of attracting users, generating revenue, and establishing a positive perception of the Cardano ecosystem.

1. Software Development and Veralidity Stake Pool:

• The budget allocated for software development and the establishment of the Veralidity Stake Pool represents investments in core technological infrastructure and capabilities. Developing high-quality software, integrating Cardano functionality into existing platforms, and ensuring secure and efficient operations require competent developers and resources. Similarly, the establishment of a dedicated stake pool enables business owners to stake their digital assets and further supports the Cardano ecosystem's decentralization. The costs associated with software development and the stake pool reflect the value of these fundamental components for the project's functionality, scalability, and long-term success.

1. Web Hosting and Other Operational Costs:

• The costs associated with web hosting and other operational expenses are necessary for maintaining a reliable and scalable infrastructure. Auto-scaling cluster environments and adequate web hosting ensure optimal performance, availability, and responsiveness of the Veralidity platform. These costs are justified by the need to provide a seamless user experience, handle increasing transaction volumes, and support the growth of the Cardano ecosystem.

The determination of costs for our project takes into account various factors, including industry standards, market rates, and the specific expertise required for each aspect. While the costs may appear high, they are proportionate to the value they bring in terms of functionality, growth, market positioning, and user experience. Additionally, the costs are justified by the potential revenue streams, business opportunities, and ecosystem expansion that the project aims to achieve.

Moreover, the value for money is reinforced by our team's commitment to transparency, accountability, and responsible fund management. Our project team's capabilities, experience, and dedication to delivering high-quality solutions further contribute to the value provided by the project.

Overall, the costs associated with this proposal have been carefully determined to ensure that the resources allocated align with our project's objectives, deliverables, and long-term sustainability while providing significant value for the Cardano ecosystem.