Please describe your proposed solution.
We have built a great platform out of the funding we got from Fund8, and we have a good MVP1 that has the capabilities to register a company, provide an acceptance mechanism for the parties to signal their adherence to the terms and conditions, a designated company wallet and ID NFTs for the company and its partners.
We want to go one step further, first to start interacting with real life projects, and we think that Catalyst has a profound need of this solution. Imagine if all the Catalyst Projects that become real, could be registered, their terms and conditions written in black and white, their partners "sign" those conditions and everything is documented onchain via an SSI solution. Ain't that solve many of the problems the teams face when the project is already running? Ain't this will be awesome as well for the community and the Cardano ecosystem so those projects are more of a "formal" entity so they can act as one? Ain't this can solve many societal issues that we have seen arouse day after day?
Wouldn't it be great if the company's wallet is the want that receives the funding?
In this evolution of our project we will be releasing our MVP to the Catalyst community, so projects (winning or not) can register themselves to the platform, the projects that prove they have a funded/won proposal in Catalyst will have 1 year of free services from the platform.
What have we built
Below you can see how the process work in our current platform, which is running in PreProd. If you have a preprod Gamechanger wallet (or you can easily create one) you can try it for yourself.
As you can see in the process above, we provide a very simple but powerful and secure why to register the Company on chain, and document it via NFTs for the Company itself and the partners.
WHAT do we want to do now
We will incorporate more information on-chain, aiming to use Atala Prism Services, so companies can create verifiable identities for the Company, for the contract (terms and conditions) and for the parterns, a multisig wallet using GameChangers functionalities and some company basic operations and processes needed to manage funds and other basic company needs.
We also wants to add support for readable names, instead of addresses, we might be able to integrate with ADAHandle, instead of creating our own. But that needs to be researched.
We want to give project catalyst funded projects this existing platform as a free service for a year, up to 500 projects. That can be co-selected with IOG or if the community is willing to participate via a voting on projects that register their interest to be considered.
How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
We clearly addresses the Challenge objectives by presenting a DAPP, that helps any type of other Projects in Cardano to register as a digital company, with proper societal terms, and register that On chain, to give their project a solid base of trust and clear ownership of the Digital Assets it will generate or hold.
Creating this company's registry can create a more profesional and clean ecosystem, of people building in Cardano.
It will help on many fronts, from dispute resolutions, to transparency, to tax or regulatory management.
It can also provide a company's directory from great products and services building on Cardano
It will showcase the use of SSI and Atala Prism, the great unique Wallet functionality we have on the Cardano blockchain, with GameChanger and the power of our Blockchain, with its native capabilities.
How do you intend to measure the success of your project?
Our success will be measured by the following KPIs:
- Number of companies registered as DCorps.
- Number of Digital Identities created and related to the DCorps.
- Number of Corporate Wallets created in the Platform.
- Number/Amount of Assets stored and managed in these Corporate Wallets.
- Number of Contracts onchain created to reflect the terms and conditions of the DCorprs.
- Number of verification request of DIDs issued by the Public Registry.
- Number of legal entities that link themselves with a DCorp.
- Number of transactions performed via DCorps Corporate Wallets.
Please describe your plans to share the outputs and results of your project?
Besides the monthly reports and the Proof of Achievement for each milestone, we will be reporting on what projects in Cardano need, from the registration perspective.
We are going to allow 500 companies in Cardano (funded by Catalyst) to formalize their projects into a DCorp as well as the terms and conditions the Partners agree to have between them, generating the basis for better healthy companies and relationships.
How ready and what challenges arouse when adopting Atala Prism solution, and we are open to work closely with the team and its partners, such as RootsID so we can provide real world feedback.
We would like to start providing regular data, about the amount and type of companies registered building on Cardano, but that is for the next phase.