DIVI

Digital Insurance for Virtual Investments -- A simple portal that assists employees in risk analysis, pricing, and comparison of digital assets!

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Inspiration

In a world of emerging technology, digital assets are becoming a larger and larger part of the everyday life of people across the globe. As people pour more and more into these products, the looming risk of losing it all slowly creeps up behind them. Thus, we came up with DIVI, as a means to counteract these ever-growing dangers.

What it does

DIVI provides insurance for digital assets. Based on your digital product, DIVI calculates the risk of insuring your account and gives an estimate of the cost required for us to do so.

How we built it

We based our application around Google's Firebase where we made our own API that held our server and database. Since we used Firebase, our options on how to build our app were limited, and in the end, we decided to use Javascript to build this project. For the risk calculations, we did extensive research in order to determine what qualities in the digital asset signified higher risk than others. We collected data points and other statistics in order to create our own functions for risk and cost that we then implemented into our code.

Challenges we ran into

Currently, there isn't a market for digital asset insurance. Thus, it was harder to gather data for our risk calculation and our cost calculation. This included the qualities that were declared 'risky', data points to create the functions and our cost function. Another challenge we encountered was having to learn how to use Firebase in a way that could efficiently implement our backend API. The documentation for Firebase was somewhat difficult to grasp which caused us to spend more time figuring out the correct syntax and structure rather than simply using the system right off the bat.

Accomplishments that we're proud of

Though there were times where we didn't think we could connect everything together, our whole team is proud that we were able to take an idea and create something that functions like how we imagined it to. For this project, the majority of the team was tasked with creating elements that they had never touched before. The fact that everyone was able to successfully create some sort of element to this project, we are not only happy with the outcome but happy with ourselves for being successful in something new.

What we learned

Each member in DIVI has really grown a lot through this experience. For most of us, it was our first time working in an environment where we were given free rein over a project and had to organize everything on our own. We learned how to cooperate and work together as a team to create something that was at first just an idea, rather than each taking a task and working separately as each part was intertwined with the others.

Some of us also learned a plethora of new skills, such as learning javascript, or figuring out how to derive functions based on data points. As many of us found ourselves in a new environment, we also learned how things work in the industry and the separation of ideas such as frontend versus backend.

What's next for DIVI

DIVI hopes to incorporate more functionality that opens our application up to more different types of digital assets such as NFTs and digital content. We have lots of room to both improve what we already have and add new features with our research and our estimate functions.

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