Mike (team member), as a business owner, has previously and currently ran into this problems of having to deal with keeping track of what percentages of tax sales, for each transaction and then having to audit this information and present to the Tax Collectors.
What it does
Decentralized Point of Sale system, that would automatically distribute all tax related fees, at the point of purchase of the goods or services, to each individual entity collecting such tax related fees. The architecture of the system, was created in efforts of reducing the daily pains that each business owners that provides services or sales goods, must go through when collecting, auditing, and distributing taxes to all tax collections entities. Current process takes time and effort away from each and every business owner, from that of building a business. We believe this system will be the next step towards a clear and simple taxation collection system.
How I built it
Work in Progress See Img for Architecture Details
Challenges I ran into
We were not able to get a working Solidity Contract, and setup of our testing platform in time.
Accomplishments that I'm proud of
Networking and Communication with Team Building trust with people and blockchain technology Collaboration and sharing of ideas
What I learned
Solidity Contract, how this works at a higher level, and started drilling down in the programming. Decentralized systems, application, software and other related topic
What's next for Decentralized POS Tax Distribution and Auditing System
If further interest is acquired from audience and possible investors, implementation of POC for Colorado, using Etherium blockchain as well as DAI crypto currency.