DigiServices People’s Trust Through Technology

1

Problem Statement

The increased occurrence of internet fraud puts consumers in a precarious position. Non-payment/Non-delivery is the fourth most prevalent cyber-crime in the United States in which victims lost a total of 265 million USD.

The Concept

01 Smart Service Contract

The combination of four components (title, description, price and signature) published in the Marketplace, where the signature is a NFT with a reference to the contract that can be used to prove contract agreement.

02 Accusation

An arbitrage mechanism that can be activated by any contract signatory and penalizes or rewards parties by receiving ‘inputs’ from trusted judges and executing unbiased logic defined in the contract.

03 Judges

Before the contract is signed, users select Judges, which are rewarded for providing reliable data to the contract so that arbitrary logic can be executed and dishonest parties can be penalized.

04 Marketplace
A Plutus validator responsible for handling service offers and requests. Offers can be made by providing a service and an arbitrary amount of DSET tokens used as commitment proof.

Solution Eliminate non-payments/non delivery problems through Cardano’s blockchain transactions

01 Rewards

They are calculated through an algorithm that collects statistics related to the service or good provided and returns the amount of tokens per hour that will be rewarded.

02 Penalties

Parties that refuse to follow the rules pre-defined in the contract will be penalized by losing tokens proportional to the severity of their misbehavior.

03 Reliability

You can select good service providers by analyzing the trust tokens they have and the contract they proposed. If one party does not follow the terms, the contract logic will be executed, receiving inputs from the judges specified in the contract and penalizing dishonest parties.

Timeline

September – November 2021

Overall Proof-of-Concept

December 2021 – May 2022

Technical model and solution details

June 2022

Prototype roll out and marketing partner selection

July 2022

First go-live V1, 10,000 members enrolment.