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UP ONLY WE ARE UP ONLY
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[Brainstorm] Selection & Validation of ideas #6

Open baocube opened 1 year ago

baocube commented 1 year ago

Idea 1: Wallet (paylah/grab)

  1. Originality: Not very special, going to be just every other app
  2. Mass usability: High chance of mass usability
  3. Ecosystem Impact & Usefulness: Not very impactful

Idea 2: Financial Products

  1. Originality: Not so much, as many financial services has already been tokenisation of rwa
  2. Mass usability: As it is not so much regulated, users might be risk averse in trying it out. With the recent collapse on crypto firms, and strong regulation, this solution may easy to get new users to onboard to web3.
  3. Ecosystem Impact & Usefulness:

Idea 3: Cross Border payments to improve trade finance CCC ~ a platform to improve trade finance finance process

  1. Originality: There is existing Circle solution.
  2. Mass usability: Targeting only for businesses. 3.Ecosystem Impact & Usefulness: Useful to solve cross border payments issue, with a faster speed and better rates.

Idea 4: MPC Wallet to manage treasury

  1. Originality: There is existing solutions in web 2 and web3.
  2. Mass usability: Targeting only business owners. Not sure if there will be adoption of treasury in crypto, and if business owners are willing to take the risk. May also only target for business owners who have been in the web3 space.
  3. Ecosystem Impact & Usefulness: Value proposition may not be high enough for business owners to switch to a web3 treasury solutions

Idea 5: Charity donation

  1. Originality: There is very little solutions with crypto & it is different from our idea
  2. Mass usability: Web2 users will/might be able to onboard to web3. Where web2 users may be willing to try web3, in order to see how their donation has made direct impact and how their funds are being used.
  3. Ecosystem Impact & Usefulness: Providing transparency and flow of funds to client

Idea 6: NFT Aggregator

  1. Mass usability: Unable to scale, only targeting at web3 users. Requires protocols to be willing to integrate to our wallet firs
  2. Originality: There is existing similar solutions e.g. open seas paying with credit cards
  3. Ecosystem Impact & Usefulness: marketplace aggregation would make it more expensive for users to buy/sell since each marketplace might still take a fee + the settlement is still not in usdc

[Idea 3 selection]

baocube commented 1 year ago

Validation of idea through user interview as well as research. In summary on the pain point of users relating to donation:

  1. Lack of Trust: (1) Lack of financial accountability/transparency on where the funds goes to, or used for the intended purpose (2) Inefficient uses of funds
  2. Tax deductibility
  3. Mission/Cause of the non profit organisation that aligns with their value
  4. Not very sure which platform is trustworthy
  5. Difficult and complex donation processes
  6. Unable to know what is the impact they made as there is no update on how donation is being used etc
  7. Not being recognised for the donation being maid
  8. Too many different types of donation categories ~ unsure which one to donate
  9. More keen to donate to organisation they have connections to
baocube commented 1 year ago

hese are some of the research and interviews I had today.

Drawing from these interviews comments, I think our solutions have helped to solve a few pain points.

In terms of the pointer 3 & 8~ I think we might need to have another field for category of the donation, so that we can categorise the donations to make it easier for users to find the donation that is more aligned with their value?