With the death of George Floyd and the rise of the BLM movement, many students set out to the streets to protest in defense of social justice and Black Lives. Unfortunately, many individuals were unable to join protests due to health concerns because of the COVID pandemic and were unable to donate monetary amounts to BLM organizations because of ongoing economic instability. JusticeCoin as a radical way to support the greater Black Lives Matter movement.
What it does
Through the use of the blockchain, JusticeCoin hopes to power organizations by revolutionizing fundraising. JusticeCoin can be used by anyone with a laptop, anywhere. Each donor contributes a percentage of their computing power to mining, and funds collect in a wallet before being transferred to our partner non profit organizations. Everytime a transaction occurs on the monero blockchain a message is sent out to everyone on the block. Here, miners validate the transaction by deploying a proof of work algorithm and reverse solving the encryption. From here, once the transaction is approved, a block is added to the blockchain and the miner receives a token reward. We use this token reward to generate revenue for nonprofits. JusticeCoin's mission is to leverage the power of the blockchain to revolutionize fundraising, democratize philanthropy, and create the next generation of cryptopowered financial technology. In order to incentivize sustained mining from our users, we use artificial reality in unison with non-fungible tokens to create unique rewards for our users. The first place winner will be automatically assigned an EchoAR ‘clout’ trophy.
How I built it
Challenges I ran into
I am terrible at building databases so I was very confused putting the leaderboard system together. I was unable to effectively complete this goal during this hackathon. Over the next few days, I will attempt to gain more experience handling user data and effectively implement that into the JusticeCoin ecosystem.
Accomplishments that I'm proud of
The test mining effort, done most in part by about 300 friends I contacted over the past 24 hours, was targeted towards raising funds for the bail project. In just 24 hours, my friends and I were able to generate about $27.42 for the bail project. While that doesn't sound like a lot, when we project this across a whole year we have the potential to generate more than $10,000 to empower the social justice movement. With these same numbers, JusticeCoin could easily hit $1,000,000 in generated donations with 80,000 users over 12 months.
What I learned
I learned that react is amazing but also the worst thing ever invented. I learned so much about mining setups, the intricacies of the status quo of distributed computing projects (Folding@Home, SETI@Home), and the importance of peer-2-peer testing to find bugs, design software architecture, and validate impact.
What's next for JusticeCoin Decentralized Activism
In the future, I hope to add a feature where a trophy is matched to a non-fungible cryptocurrency token. That way a clout trophy cannot be duplicated is solely owned by the individual that should own it. I am also looking into adding a referral system where someone can earn hours for the leaderboard by getting new people to mine crypto for JusticeCoin. JusticeCoin is dedicated to change by engaging the intersection of technology and social justice. Through the use of the blockchain, JusticeCoin hopes to power organizations by revolutionizing financial fundraising. I'm also going to be looking into other applications of the blockchain in potentially creating a competitor to existing platforms like GoFundMe and Kickstarter, while also enabling trust, democratization, and traceability. #cryptoforchange