Workers Auto Approve
Inventing Double-Opt-In Credit
DeFi, decentralized finance, bounties, design, product, hackathon, hackers, entrepreneurship, buidlers
### Challenge Description
In this challenge, we want you to upend the status quo of credit scores and reputation. Challenge the idea that an algorithm is written by a centralized authority in secret and not shared with applicants in spite of the fact that it's used to assess whether or not those applicants are "worthy" of access to money. What if credit checks were a two-way street? What if we could mitigate or challenge the impact of financial outliers? What if anyone, anywhere could get access to credit and use it?
Over the course of this hackathon, we want you to create a different type of system, one that is much more accessible, more broadly owned, and more open to challenge. The algorithm may impact any industry, so long as it has a specific user and use case attached. Specific examples of what we'd like to see include:
* How might we empower individuals to challenge their credit score?
* Examples: a decentralized arbitration system, algorithms with openings for write-ins by applicants, "accident forgiveness" for credit history outliers, incentivization structures where lenders' reputations matter, etc.
* How might we measure credit as a marketable resource?
* Examples: credit designed like cash, trading credit, loaning credit to a friend who doesn't have any, etc.
Feel free to ideate on any of the above ideas or create your own.
### Submission Requirements
We expect all bounties to be comprised of two distinct parts: *product* and *potential*. For the product, we will accept submissions in all formats, including but not limited to wireframes, landing page, prototypes, or production code. For potential, we've outlined information that we expect to see below. It can be delivered in any format, including but not limited to a report, a presentation, or a video. All submissions, including all code, must be open source for future use and reference by the community, and links to external documents must be provided in the Github repo submission.
As these bounties are broad and left up to your own discretion, we expect you to deliver the following items tailored for your specific solution:
* A specific industry, user, and use case for which you are solving
* Unique insights about the industry gathered through primary or secondary research
* Evidence of team-wide entrepreneurial behavior and spirit throughout the Relay
* Proof that the market you've identified is primed to be disrupted in the next 6-12 months
* Testimonial from an industry Subject Matter Expert (SME) who is serving as an advisor
* Proof that blockchain adds significant value to this solution over centralized alternatives
We also are looking for participating teams to articulate both broadly and specifically how their proposed solution affects widespread industry orthodoxies. A team that delivers a specific solution must show us how this solution can be rolled out more broadly to impact the industry (or other industries) at large. Conversely, a team that solves in generalities must describe how they anticipate testing their ideas in specific, measurable experiments.
### Submission Deadline
All bounty submissions must be received no later than 11:59 PM EDT on April 30th, 2019 to be considered.
### Judging Criteria
We are looking for projects that address a real problem and teams that have shown the progress and entrepreneurial instincts to make something real and get it out in the world.
### Judging Date
Projects will be assessed from May 1 to May 15th, 2019, and winners will be announced at the Ethereal Conference in New York.
The following prizes will be awarded at the conclusion of the hackathon:
* **24 ETH** awarded to the winner of each of the following bounty tracks:
* Developing a Richer Financial Reputation
* Inventing Double-Opt-In Credit
* **12 ETH** to the team that receives *Community's Choice* as voted by the entire hackathon participant group. This award can be won by either Bounty winner, resulting in a top prize of 36 ETH, or may be won by a separate team entirely.
* **6 ETH** awarded to two (2) teams deserving of *Honorable Mention* as determined by Bounty judges. These prizes may be awarded to teams in either track, but cannot be awarded to the track winners.
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