Our inspiration derived from the success of crowdfunding platforms such as kickstarter. We took a similar idea and applied it to cryptocurrency providing equity financing for small business and organizations.
What it does
The app allows for the sale of small business equity to individual investors using a cryptocurrency called ether.
How we built it
CapitalU was constructed on a NodeJS backend, along with AngularJS and MongoDB for storage. Transactions, contracts, and trading of ether (the cryptocurrency) was created in a language called Solidity. A business can create an account on our site to issue shares to individual investors.
Challenges we ran into
The Ethereum test network blockchain took a while to download due to its massive size (easily taking up gigabytes of storage). Solidity (the language for deploying contracts to Ethereum) is being rapidly developed, and it was difficult to find documentation. Additionally, tracing errors in solidity was also very difficult, as it could only be tested on the blockchain itself.
Accomplishments that we're proud of
- Getting Ethereum transactions working.
- Clean user interface for investor and businesses.
- Giving businesses the ability to issue shares.
What we learned
We learned how to use blockchain technologies with Ethereum and how to build a democratic crowdsale platform by leveraging the features provided to us by the cryptocurrency.
What's next for CapitalU
We plan on implementing voting procedures for shareholders to decide on company matters. We will also eventually give an option for a business to issue dividends.