A power drill gets used only 12 minutes in its lifetime. Would it be great if you can just borrow a drill instead of buying a new one?
What it does
GoodsKarma is a platform which connects people with unused goods to people who need these goods. Think of it like an airbnb for goods. GoodsKarma will use a digital token called karma coins which will be transferable for cash. Borrowers transfer karma coins to lenders as payment for goods transferred thereby rewarding their positive behaviour.
Lenders and borrowers can also use their karma coins to crowdfund community projects that they wish to see happen. People who lend more can amass more karma coins and have a greater say in their communities.
How I built it
The token system will be built on an ethereum network with smart contracts being used to facilitate the transfer of goods and coins.
The mobile app interface will be built using java and the website will be based off asp.net
Challenges I ran into
There were many! Deciding on the idea itself took a long time and then coming up with a method to maximise the value of the blockchain technology. Solving issues around the security of the items took a long time as well as how to integrate the crowdfunding aspect of the app.
Coming up with a name that suited the service really needed a stroke of inspiration that actually came quite late in the day.
Accomplishments that I'm proud of
The crowdfunding aspect to the app is something that we're really proud of. We believe its a real differentiating factor to our service. We also believe that our name really exemplifies our vision of building communities. By rewarding good behaviour we encourage people to interact in a friendly and positive way hereby building the human capital and social connections within an area.
What I learned
We learned that its important to be able to take an objective view and realise that something isn't going to work. Our original idea was very different but after running into multiple barriers we had to abandon our idea but we believe the new one has a much stronger foundation!
What's next for GoodsKarma
Hopefully we'll be able to develop the network and then do a trial run in a contained space. From that we'd hope to replicate the system across several locations and then link the networks together!