Inspiration: I been running a thought-thread for a while to "solve for" a solution and strategy to eliminate or reduce the "responsibility" of the passwords and private-keys – for “my mother” and my fat-thumb. I started to look at user-managed or responsible security a zero-sum game – i.e. either 100% on the user (cold wallet), or custodial (say ~90% on the service), etc. I was looking for a way to offload the responsibility to the RECIPIENTS of the payment.
Also, the traditional vendors have a very difficult time to use the decentralized blockchain. They have the same difficulty with the finality and limited dimension of the decentralized blockchain.
These ideas evolved multiple times, and with the help other 3 Cosmos mentors for the current model.
What it does
The use of an optional tag “issued” by the Cosmos Validators so that when a transaction or message with the tag is received at the Validators, they will enable a look up of the tag to see any special handling is needed, requested, or warranted.
How we built it
We worked on the concept and the high level design.
Challenges we ran into
Original premises and assumptions were changed and revisited multiple times. Multiple strategies were thought through. Michael Chung, the ideator, does not know how to program nor is a trained engineer and had many blind sides. He talked to the mentors several times and several other attendees.
Accomplishments that we're proud of
Several exhilarating moments and the agony of the final defeat that the entire approach was wrong, even the premise was incorrect; and then, one last casual talk with an attendee gave the confidence.
What we learned
Lot of work remains to the decentralized future, still.
What's next for defi