A Blockchain based tool for local communities to leverage the benefits from collective bargains.
In order to solve economic stagnancy in low-income communities, Quipu creates local digital markets that enable trade through a mutual credit system. Through Quipu , institutional, self-employed, formal and informal sector workers belonging to the same community can create their own business profiles and exchange goods and services using a local currency, increasing saving and purchasing power.
Quipu aims to be a disruptive digital tool to build economic justice in communities of the Global South.
The information generated from day to day economic transactions of individuals of a local community is not leveraged. This affects the possibility of executing an effective collective bargain. Consequently, negotiations might fail to bring back a considerable amount of value to the community. This affects communities worldwide on both developing and developed countries.
A Blockchain based tool that will enable the capture of economic transaction information of local communities with transparency and traceability. This tool should allow the obtaining of value when conducting collective bargains.
For example, the Quipu app captures, from the transactions provided by the marketplace, records of data that include the type of good or service offered/sold, its geo-localization, and price and available amount. The Blockchain based solution should take this information and, through the traceability and transparency features of this technology, decentralize the trading information so all members of the local community have access to it.
This solution will then allow for a specific individual in the community to manage the information regarding to product demand and put it in a better use to optimize the collective bargain, with economies of scale and other benefits.
Be sure that the solution moves the right incentives, and prioritizes the empowerment of local providers and consumers, and community wealth, as a unit to negotiate with external providers.
$1,000 in prizes
To be eligible to participate in the Event, you must be: 1. above the age of majority in your state or country of residence, with a minimum age of 18 years as of the date of entry and a permanent legal resident of any country except for any of the countries in which the Event is void and/or where restricted or prohibited by law, and 2, registered for the Event
1. Build a prototype for the solution proposed. You can use any developer tools and/or platform you feel most comfortable using.
2. Create a video demo explaining the functionality (max 2 minutes long).
3. Submit a link to material (designs and prototype) from (1) and on Github, and (2) on a public video platform.
How to enter
To keep yourself updated, join our Slack Channel
CTO, The Blockchain Challenge
Olga Elizabeth Egorov
MIT, IoT, Blockchain and Smart Cities Consultant
Juan Jose Miranda
More judges to be announced
How well you architect and build your idea
How well you leverage the technology and provide an impactful solution to the problem
- Social Good