Disqualified

Idea: CryptoParking

This idea aims to solve the challenge of finding a parking spot for your car, increases the efficiency of the current cloud-based parking system and develops a network architecture based on the Internet-of-Things technology. It utilizes Computer Vision, IoT and next generation Blockchain – Tangle to help users automatically find a parking space at the least cost based on location and availability metrics. It calculates the user parking cost by considering the distance and the total number of free places in each car park. This also includes the option to the garage owners to rent out their garage to the vehicle owners on weekly/monthly basis.

Idea: NEM blockchain crowdfunding platform

It’s always difficult for a startup/project to raise fund through formal channels such as loan, equity sales or venture capitals. Crowdfunding is all about democratising investments through the general public. Crowdfunding also allows for a wide range of investment amounts. Blockchain ICO (Initial Coin Offerings) as a crowdfunding model can be used to finance commercial projects such as the Energy Performance Contract (EPC) project. In the Energy Performance Contract (EPC) project, an Energy Service Company (ESCO) provides its know-how and financial resources to implement adequate energy efficiency measures and takes on the performance risk to ensure that the stipulated energy savings are achieved. The investment is refinanced through the savings achieved. EPC normally requires secure funding from financial institutions which has following challenges:
– Long project development cycle and high financing upfront costs.
– Lack of financing from the financial institutions for loans, special funds, grants and etc.
– Return on Investments for ESCOs and Financial Institutions do not commensurate with the efforts and risks involved:
The CryptoCrowdFunding (CCF) uses a cryptocurrency crowdfunding model similar to ICOs but raises coins to fund EPC projects. A credit facilitator will review and manage the distribution of funds and repayment collection from the EPC savings. The blockchain will be used to keep track all the funds distribution and repayments collection. The CryptoCrowdFunding system uses decentralized blockchain technology to generate payment records for finance personnel processing, which guarantees the verification of actual savings on site and the completion of services.
The crowdfunding investors, and traditional investors can use the CCF to:
– De-risk their investments as a result of the financial, social and environmental safeguards
– Generate accurate, credible repayments through robust blockchain transaction records.

Idea: A decentralized smart contract based ledger for signing and maintaining Statement Of Work documents

Consulting companies and contractors sign Statement of Work documents with clients. These documents contain scope of work , timeline and general roles and responsibilities between two parties

These documents are signed offline and stored as scanned copies. This leads to the following challenges
a) Document verification and accessibility by third parties
b) Sign-off on changes to the Statement of work

This will solve the document authenticity verification problem and also make it easy to maintain documents.

Idea: Making a site for the exchange of XEM for fiat money

This idea is to allow users to withdraw their money on the exchange faster than bitcoins.

People will determine the market price of the coins based on the demand and supply factor.

Idea: Using NEM as the innovation for ledger of mutual fund.

With reduced costs of operation, the application also can help Australian $590 billion Self Managed Superannuation Fund (SMSF) industry. According to Australian Tax Office report, SMSF accounts 99.5% of superannuation funds in Australia.

Idea: Charity with XEMs as tokens.

This idea is for a website that allows various charity groups to post their programs on the website and people can donate their money to those programs in the form of NEM token.