mochi

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Inspiration

We are a geographically dispersed team of developers and entrepreneurs with the drive to create a fair, transparent and reliable platform for donations. Our motivation for this project is twofold.

First, we recognise that the current pandemic has enhanced wealth inequalities and led to rampant unemployment. In short, the livelihoods of households from around the world are under threat. We wish to address this challenge by facilitating the process through which health and subsistence aid can be directed to those in need.

Second, we know from experience that current donation systems are opaque, inefficient, and too often fail to live up to participants’ expectations. Our goal is to combine the EOSIO platform and toolchain with Credify.One’s identity layer to construct a technological solution to this problem. Our solution is designed for practical deployment – we do not intend to give up once the hackathon is over.

How does your application work?

Our platform handles the entire lifecycle of donations, from inception of a cause, to verifying participants’ identity, distributing contributions to suitable applicants, and allowing the contributions themselves to be spent.

There are four kinds of platform users:

(1) The Administrator: the non-profit entity in charge of setting up new causes (which we refer to as “pots”). In addition, the Administrator will be able to monitor the activities of other uses in the system and to verify the information that they submit through our dashboard.

(2) Donors: contributors who wish to provide aid to worthy causes. After undergoing a KYC and AML process, donors will be able to contribute funds to their pot of choice. Our platform integrates with Stripe to support payments and eliminate frictions for non-technical users.

(3) Recipients: interested parties will be able to sign up using our identity application and apply to receive funding from a relevant pot. For instance, a pot could be dedicated to heads of households who prove that they are in need of financial assistance to meet mortgage payments and prevent eviction.

(4) Vendor: parties who wish to offer essential goods and services to aid recipients, including NGO affiliates and commercial partners. Examples include supermarket chains, clothing companies and telecoms. Vendors will also need to register through Credify’s ID application and be approved for participation by the Administrator.

Tech infrastructure

Administrators can create pots for different causes through their dashboard. As part of this process, an EOSIO smart contract will generate a new set of tokens associated with each pot (e.g. $AID).

When an approved donor makes a contribution using Stripe, a proportionate amount of $AID tokens will be issued by the smart contract (e.g. one token per USD contributed). These tokens will initially be retained in escrow.

A person wishing to apply for funding will need to register through the Credify ID application. In doing so, they will submit key details that enable KYC and AML checks to be undertaken by the Administrator, in line with their regulatory requirements. Credify relies on Onfido’s API to verify applicants’ state-issued ID. Applicants will also need to submit a “proof of need”, to evidence their need for funding (e.g. a photograph of an eviction letter). This evidence will be stored on a Firebase database and the applicant will automatically receive an EOSIO account when the process is complete.

Once a recipient is approved for funding, the Administrator will transfer a number of tokens to the recipient’s EOSIO account. The recipient will be able to spend these tokens with any of the selected vendors. In turn, vendors will be able to receive USD (or other currencies) by burning the $AID tokens through their dashboard.

In aggregate, the system has been designed to allow donors to trace the flow of funds in a public, auditable ledger and ensure that they are spent with vendors who provide goods or services related to their chosen cause, as opposed to being diverted to other uses.

Challenges and accomplishments

We are proud to have built a multi-layered platform that abstracts complexity for end-users, preserving the key attributes of transparency and efficiency in processing data. It was certainly challenging to get to this stage in such a short period of time, but we are happy with the results and plan to iterate on our work. The pursuit of a common goal with a social impact has also brought our team closer together and allowed team members from different cultures to shape the design of the platform.

What's next for the team?

In the short term, we will continue to work on our platform so that NGOs can start to utilise it. We are already in touch with non-profit entities in Japan who have confirmed their willingness to use our platform. If we were to win the prize, we would spend the funds in accelerating the development and deployment of the platform; the pandemic does not sleep. In addition, we would aim to kickstart adoption by contributing to pots that NGOs set up on the platform.

Built With

• c++
• golang
• typescript