Ideas demand change. By definition, the application of an idea means that something different will take place in the universe. Even if the idea is wonderfully brilliant, it will force someone, somewhere to change how they do something.
And when it comes to change, it all comes down to the pragmatic questions about the idea that offers the change, which are precisely laid down as follows:
What problem are we trying to solve? What is the value created by solving this problem?
Huge stacks of bicycles standing in rows are something which has become common to all the hostels, most of them are brand new bicycles. The old system of buying ‘used’ bicycles has become out-of-date, either due to the communication gap in the student hierarchy system or the non-stop influx of newer models in the market which is leading to a bicycle-flood in the campus. This has given rise to two major problems - first, the increasing load on the infrastructure (cycle stands) to support and store these bicycles and second, wastage of money in buying fresh models when old ones could have been bought at a much lesser price.
The main objective would be to reduce unnecessary expenditures on cycles including handling/storage costs which in total amounts to lakhs of rupees.
Proposed System:
How will a blockchain be applied to this use case? Which component pieces will be utilized? Will the blockchain used be public, private, or consortium and why?
A blockchain based business network which will facilitate the trade of ‘used’ bicycles. It will act as the bridge where the buyers and the sellers of old bicycles can get in touch with each other directly without the interference of a third party (Peer to Peer architecture) and will keep a check on the number of bicycles in the campus. This system is in contrast to sites like OLX, Quikr etc. which have a centralized authority.
This will be a permissioned block-chain platform based on Ethereum network and the execution logic would be specified using Smart Contracts.
USE OF TOKENS:
Members will be provided incentives in the form of tokens who verify the conditions/state/claims of a bicycle made by a seller.
PROGRESS: Most time-consuming work is almost completed, viz a viz, writing the smart contracts or the main back-end logic wherein all the fundamental and the complicated functionalities of the entities involved.
We have figured out the process of integrating the front end with the back end via web3.js and truffle-suite framework and currently working on the UI of the app.
🔦 Any other specific thing you want to highlight?
DETAILS AND FACTORS WORTH CONSIDERING:
Yes, IPFS is used as decentralized storage for other attributes of buyers and sellers apart from the information of cycle. Also, a seller ’s public key is stored on IPFS, which allows others to authenticate any information/claim made.
Scalability: This prototype can be extended to problems at a global level like the pharmaceutical industry/healthcare wherein there is a huge flood of counterfeit drugs and for effective treatment of patients by storing information of their past visits/ meds administered for better treatment.
✅ Checklist
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[x] You have followed the issue title format.
[x] You have made no other issue for this submission.
[x] You have provided all the information correctly.
Before you start, please follow this format for your issue title:
Gauranga - Blockchain Based Business Network For Bicycle Trade
ℹ️ Project information
Please complete all applicable.
🔥 Your Pitch
Overview:
Ideas demand change. By definition, the application of an idea means that something different will take place in the universe. Even if the idea is wonderfully brilliant, it will force someone, somewhere to change how they do something. And when it comes to change, it all comes down to the pragmatic questions about the idea that offers the change, which are precisely laid down as follows:
What problem are we trying to solve? What is the value created by solving this problem?
Huge stacks of bicycles standing in rows are something which has become common to all the hostels, most of them are brand new bicycles. The old system of buying ‘used’ bicycles has become out-of-date, either due to the communication gap in the student hierarchy system or the non-stop influx of newer models in the market which is leading to a bicycle-flood in the campus. This has given rise to two major problems - first, the increasing load on the infrastructure (cycle stands) to support and store these bicycles and second, wastage of money in buying fresh models when old ones could have been bought at a much lesser price.
The main objective would be to reduce unnecessary expenditures on cycles including handling/storage costs which in total amounts to lakhs of rupees.
Proposed System:
How will a blockchain be applied to this use case? Which component pieces will be utilized? Will the blockchain used be public, private, or consortium and why?
A blockchain based business network which will facilitate the trade of ‘used’ bicycles. It will act as the bridge where the buyers and the sellers of old bicycles can get in touch with each other directly without the interference of a third party (Peer to Peer architecture) and will keep a check on the number of bicycles in the campus. This system is in contrast to sites like OLX, Quikr etc. which have a centralized authority.
This will be a permissioned block-chain platform based on Ethereum network and the execution logic would be specified using Smart Contracts.
USE OF TOKENS: Members will be provided incentives in the form of tokens who verify the conditions/state/claims of a bicycle made by a seller.
PROGRESS: Most time-consuming work is almost completed, viz a viz, writing the smart contracts or the main back-end logic wherein all the fundamental and the complicated functionalities of the entities involved.
We have figured out the process of integrating the front end with the back end via web3.js and truffle-suite framework and currently working on the UI of the app.
🔦 Any other specific thing you want to highlight?
DETAILS AND FACTORS WORTH CONSIDERING:
Yes, IPFS is used as decentralized storage for other attributes of buyers and sellers apart from the information of cycle. Also, a seller ’s public key is stored on IPFS, which allows others to authenticate any information/claim made.
Scalability: This prototype can be extended to problems at a global level like the pharmaceutical industry/healthcare wherein there is a huge flood of counterfeit drugs and for effective treatment of patients by storing information of their past visits/ meds administered for better treatment.
✅ Checklist
Before you post the issue: