This week we reworked our capstone project selection. For the previous project about using blockchain to finance the toll bridge, we encountered some obstacles in the process of exploration and had some doubts about the realizability of the project. So, we decided to explore some new blockchain projects. And we had a difficult time selecting the new project we want to work on. Below are the six projects that we talked about.
Project 1: Proving the authenticity of products
Many companies are now applying blockchain to track the origin, destination, and production process of their products so as to verify the authenticity of their products and eliminate counterfeit situations. For example, Nike is now using blockchain to ensure the authenticity of shoes. We can make a platform to help verify the authenticity of various products.
Project 2: Better shipment experience
We often encounter late or lost packages, which is very frustrating. I realized that we could use blockchain technology to provide more accurate and reliable logistics information. We could collect location data from many interconnected systems and provide customers with accurate location details about their packages. This would greatly improve the reliability of logistics.
Project 3: Crowdfunding Platform
From the perspective of finance, I learned that many crowdfunding startups are not very mature in financing and using funds. Many companies abuse investors’ money and do not use investors’ funds wisely to accomplish what they promise, which leads to a gradual loss of trust in crowdfunding platforms. Blockchain technology can help companies raise funds while allowing investors to clearly see how each fund is being used, which helps investors’ funds to be used wisely.
Project 4: Decentralized exchange
My group members came up with this idea of a decentralized exchange, similar to Uniswap, but would be built on top of Layer 2 to help reduce the fees for transactions. We hope to build a more optimized trading platform by taking the advantages of existing decentralized exchanges.
Project 5: Real estate investment
Another idea is to suggest a fragmented platform for real estate transactions. People could pool their money together to invest in a house and get a share of it. Since the price of the house will keep going up and there may be rental income, people could potentially be able to earn a significant income. This lowers the barrier to property investment and makes it possible for people who don’t have the money to buy a house to profit from it.
Project 6: Voting
Voting is an activity that everyone participates in at some point in their lives, but whether it’s a large election vote or a small group vote, the voting process is not always completely fair and open and transparent. We want to build a more reliable and transparent voting system through blockchain.
Eventually, after our long discussion, we decided to move on to explore the fourth project, a decentralized exchange. The idea is very interesting and even though I don’t know much about this piece related to it yet and how to develop it, I’m willing to go ahead and explore it a bit. Hopefully this will be a great learning experience.
