Tokenizing the Economy Raising Funds for Ukrainians Fighting Censorship & Disinformation
Ethereum Foundation Sponsored Bounty
During the early days of the invasion I was in touch with my friends in Kyiv, They were stuck and wanted to escape but had no means and had been debanked in Belarus. We worked together to open a wallet for them and I raised crypto from my friends and family in the states to to fund their escape to poland. After leaving Ukraine and getting to Poland my friend shared with me how much it pained him to be reduced to relying on charity to get by for weekly sustenance as a refugee. Forcing this massive underprivileged group into a reliance on charity, formulated the idea to provide Forgivable Interest free loans to refugees, in order for them to remain self reliant and pay forward the aid they received in their time of need to others who need it now.
In order to facilitate this we have built an integration between DIAA and Gitcoin passport to validate user identities and allow funds to be distributed confidently. The implications of a DIAA user ID affiliated wallet address are massive and speak to the future of nation state level On chain identifies.
What it does
We built a smart contract that allows users to receive a credit line, borrow funds against that line, view the quantity owed, view their transaction history & repay their loans. The front end we built also functions as an effective crowd funding platform - wherein donors can pick their choice of refugee group to support
The DIAA x Gitcoin passport integration allows for users to have a verified wallet address to receive funds direct to the recipient
How we built it
We built the products via an iterative design / development process
Challenges we ran into
Time, Our team has bit off a massive mission with integrating DIAA into gitcoin passport, three day hackathons lend themselves more towards specific use cases than larger philosophical issues
Accomplishments that we're proud of
Coming together as a team and uniting behind the mission of providing direct aid to recipients in need, as well as empowering others thru the DIAA verified wallets solution we have created
What we learned
Time management is the key to organization during a hackathon, Take more advantage of the mentors and judges throughout the length of the hackathon to guide the submission
What's next for Uwallet
Complete the DIAA - Gitcoin passport integration, provide Ukrainians with the ability to have on chain identities and watch all the good flow through from that. Simultaneously, we will push forward with the free loan mission to empower Ukrainians to build a healthier economic future
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