CA summary
Our proposal is a feasibility study that will specifically focus on the use of smart contract blockchain solutions to deliver engagement to a company’s community of interest. The resultant whitepaper will set out any gaps in capability between smart contracts and business use cases, and how they can be resolved.
The whitepaper will be driven by the needs of the use case companies that are already on our client list.
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Introduction
It is incredibly exciting when technology reveals itself in solutions to problems that businesses never knew they had and enables new ways of commerce and trade.
Now is one of those moments.
The first step is to understand the gap between the capability of technology and the need of ‘business’, and to then close it.
This proposal is one of three feasibility studies that will research real world business use cases in the context of Cardano blockchain capability. Each will result in a blueprint for the steps for blockchain developers to deliver the business needs towards a future, proof of concept MVP.
The related proposals are:
Real world business process use case
This proposal is to undertake a feasibility study and produce a whitepaper that will succinctly describe the need for smart contracts to deliver an innovative method of enabling a community of interest to participate in the decision making of a social impact organisation – that is, one that is purpose-led and is driving by its impact rather than profit.
We expect the whitepaper to produce a blueprint that will be used to create applications that will deliver on this specific use case.
The use cases
We will use two real world business use cases.
The first is a conversational AI technology start-up.
The company proposed for the use case needs to capture samples of speech from different dialect speakers around the world for use in conversational AI products.
A percentage of revenue will be set aside in an ‘impact pool’ for distribution to community causes identified by and voted on by the community of interest.
The community will be compensated for their participation by receiving a vote on the distribution of funds in an ‘impact pool’ to community causes.
The second is an impact focused angling retailer with revenues of US$75m that has grown both a large footprint of stores and an online presence, and recognises that the leisure activity they support has a mental health impact on communities. While they have a strong community of interest that supports their community impact goals, they need to understand how this can be further developed through the use of blockchain capability.
Similarly, this use case will seek to understand how Cardano blockchain capability can deliver on the impact goals of the founders.
In both cases we are dealing with the proof of trust that a group of stakeholders requires from a commercial company.
The constraint
It is not possible to show ‘proof of trust’ through traditional applications and ‘promises’ – there is not, at present, a trustworthy method of recording the participation of individuals in communities of interest, such as the allocation of voting on the distribution of community support funding.
The solution
For use case one, the recording of the speech information transactions will be recorded in a traditional database, this recording being tokenised on the blockchain. The token will be associated with a smart contract that will allocate one vote per token.
Thus, the solution is seen to be delivered through the use of Cardano blockchain smart contracts.
For use case two, we will investigate how tokenisation can support the community to spread the purposeful intent of the company.
Our proposal is a feasibility study that will investigate how the business process needs can be translated into technical process descriptions that can then be assessed by Cardano blockchain developers. Where a gap in need and capability exists, the resultant whitepaper will describe the technical development steps needed to provide the technical capability of the Cardano blockchain to the food and beverage sector of the economy.
The solution that we propose will present a pathway that describes an impactful real world business use case that has a clear pathway to development and deployment of blockchain based applications.
It will achieve this by:
• Understanding the gaps between technical capability of Cardano blockchain smart contracts and how they can be integrated into real world business application.
• Presenting the solution described as a configurable product that can be employed by purpose-led companies that need to maintain a community of interest
Many of the people in the emergent community of interest are business leaders. Our solution will expose these people to the possibilities presented by Cardano blockchain smart contracts.
The solution will:
• Describe a product that supports a business solution
• Increase the number of companies proposing and being exposed to Cardano solutions
• Provide the platform to facilitate the proof of trust to communities of interest
The solution will be communicated through the community of interest that will be created as a part of the feasibility study.
• Challenge – identify key technical partners to assist in describing the gap between capability and delivery of the smart contracts. We will work with technical developers within the Cardano ecosystem.
o Mitigation – Engage with the Catalyst co-ordination team to identify appropriate partners
• Challenge – Describing the solution that delivers the outcomes required by the business use case in terms that will lead to a coherent scope of work for the development phase of the project in the future
o We will partner with developers to learn what technical development needs to occur to technically deliver the solution, and how to describe it in a scope of work