Impacta360

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Summary Video

https://www.loom.com/share/66336bad513443d486ba1c148842f62c

Inspiration

In a world where trust in NGOs has been compromised by a lack of transparency and accountability, the inspiration for Impacta360 was born. Currently, 60% of donors feel they do not have enough visibility into how their donations are being spent. In recent years, scandals involving the embezzlement of funds in some NGOs have led donors to seek greater transparency. Additionally, according to Forbes, 25% of donations globally are lost or misused due to a lack of transparency or operational inefficiencies.

Our mission is to restore trust to donors through the use of blockchain technology, which allows us to create a fully traceable and transparent system for fund management. We are inspired by the global need for tangible and verifiable social impact, where every donor can clearly see how their contribution is changing lives and communities.

What it does

Impacta360 is a blockchain-based platform that allows NGOs to manage their projects transparently and efficiently. The platform records all donations on Core DAO, using smart contracts that track the use of funds in real-time. Every transaction, from receiving donations in Bitcoin or Ethereum to the distribution of resources, is recorded and visible to donors.

Within the platform, both companies and individuals can see the projects they have supported, and the more they donate, the higher their level, unlocking exclusive benefits on the platform.

We use smart contracts that only release funds when specific milestones are met, ensuring that companies and individuals have security and transparency regarding the use of their donations.

Thanks to blockchain, we use immutable records of all transactions and expenses.

Additionally, companies or individuals can download an invoice of their donations directly from the platform to deduct taxes, making this process easier and more attractive for companies to integrate a vision of social responsibility.

How we built it

We built Impacta360 on the Core DAO blockchain using customized smart contracts to automate payments and resource management. Additionally, we integrated curators to validate project outcomes and ensure that funds are only released when the agreed-upon milestones are achieved. Finally, we designed an intuitive interface so that both NGOs and donors can monitor progress and funds in real-time.

Challenges we ran into

It was challenging to adapt the operational flow of NGOs, which traditionally use more centralized systems, to a decentralized platform. Another major challenge was finding a balance between the full traceability of funds and respecting the privacy of the beneficiaries of social projects

Accomplishments that we're proud of

We are proud to have built a platform that not only facilitates efficient fund management but also empowers donors by providing them with a clear view of the impact of their contributions. We successfully implemented functional smart contracts that release funds only when project milestones are met, ensuring the integrity of the process. Additionally, we integrated cryptocurrency donations, enabling the participation of a global donor community

What we learned

We learned that transparency is a key element in restoring trust in NGOs, and that blockchain can provide the necessary tools to achieve this. We also realized the importance of a solid decentralized governance infrastructure, which helps improve real-time decision-making. Additionally, the integration of oracles and smart contracts showed us how much can be automated to reduce administrative costs.

What's next for Impacta360

The next steps for Impacta360 is to finish our visual interphase, we want to improve the user experience and make more friendly for ONG's We are working on integrate diferents oracles to our platform that allow us to privide a realiable measuring mechanism for the diferent project categories. Through integration of custom oracles or interoperability with oracles on other networks, we can provide donors and beneficiaries with a clear, verifiable view of the social impact generated. We want to continue improving our traceability platform, add support for more cryptocurrencies and governance tokens to enable more active donor participation. We will also focus on receiving feeback from an ONG to deliver a real functional product. We want to create partnerships with ONG's to test and improve our solution.

DEPLOYER: 0x72Bd1188DEA220E8267a8a75992c3e3833399C96

"Impacta360" (tx: 0x73899eb5221d61a55110b1fbe60ff1c66838027eb11687c689da5a49fdfc0993)...: deployed at 0x58996D840cA5B77f7Bd25176B7f435b0c2610ca1

"USDCToken" (tx: 0x62375c20de9e7b7f0a5de6dd8721976c7c808ee170179fe8e2aba0b090035cdb)...: deployed at 0x9c74092E0aBd322Aa7fE50a330562277A19Cc4BE