Submission Date
February 2, 2022
Project Links
Project Description
The Project we have ideated is a cryptocurrency/DeFi project in the hopes of alleviating the financial issues faced by many Zimbabweans. What we hope to produce is a platform that allows people to trade assets or exchange services in real life through “payments” fulfilled on our platform (ZCoin). Many Zimbabweans struggle to simply receive payments from overseas or with making payments to online international companies (e.g if you would like to purchase something from Amazon). Additionally goods sold within the country experience extreme volatility due to the inflation of the local currency so many people don’t even want to hold the local Zim Dollar and therefore many people store their value/assets in USD. The main problem with this is that many people earn in Zim Dollars and have to often either buy USD against terrible bank rates (or black market rates) or simply buy goods with the local currency at inflated costs.
What we hope to solve is allowing people to buy and sell goods with either an intermediary currency (ZCoin) or maybe to simply store their money or allow them to pay for international goods using the proposed platform. The platform could also allow people to invest in crypto which is something that’s also currently not available.
As you can see we’re still very much in ideation, but we definitely feel there’s a big pain point we can solve and we definitely need help in narrowing that down from all the issues above and having a solution that accurately solves one main issue.
Amount requested
50,000 USD
Milestones
- Project Deliverable Scope
- First Milestone will be finalizing and confirming the scope for the actual project and whether or not we’d need any other assistance from other developers or mavens.
- Project Development
- I am happy to take on the development role for this project , I would only be okay with a dev salary of around $2750/month. It would be amazing if this grant can give me access to more experienced developers as I estimate for such a project to take me at least 18 months to develop especially if I am building everything from the ground up on my own. $2750*18 =$49500. The amount left over could either be used to compensate my partner or will be used for setting up the development environment and resources for the project.