Short Story

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Challenge question :

Cardano is seeking to bring trust back to financial markets via the blockchain. What is an effective way to pursue this goal?

Why is it important?

The biggest problem with the financial system today is that the banks which constitute the majority of this system are profit based.

How does success look like?

Credit unions/co-operatives focusing on returning value to stakeholders are enabled to flourish in competition to profit focused banks.

Key Metrics to measure

How many “existing” credit unions and co-operatives can we get to “trial” Cardano’s enabling environment to “extend” the services they provide to their customers?

How many “existing” credit unions and co-operatives can we get to “use” Cardano’s enabling environment to “extend” the services they provide to their customers?

How many “new” credit unions and co-operatives can we get to “trial” Cardano’s enabling environment as their operating system?

How many “new” credit unions and co-operatives can we get to “use” Cardano’s enabling environment as their operating system?

How many “existing” organisations are “trialling” Cardano’s enabling environment in order to “convert” their organisation into a cooperative?

How many “existing” organisations have “used” Cardano’s enabling environment in order to convert their organisation into a cooperative?

Challenge brief

The biggest problem with the financial system today is that the banks and other financial institutions which constitute the majority of this system are profit based. They place a far greater priority on returning profit to their shareholders in preference to providing value to their customers. Credit unions and co-operatives on the other hand are non-profit based and instead focus on returning value to their stakeholders. Cardano is seeking to bring trust back to financial markets via the blockchain. A worthy challenge for Fund 6 is for Cardano to provide an enabling environment for credit unions and co-operatives to flourish. Legal frameworks, related education, thinking, further information etc have already been put in place by the following organisations. https://platform.coop/ https://www.fairshares.coop/

 

Requested funds in USD TBD

Which of these definitions apply to you? Developer, Entrepreneur

Credit unions and co-operatives

Goal: $1.00
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