During this fellowship, I want to build something in the Social Impact category. This is a DeFi project based on ROSCA(Rotating Savings And Credit Association). In this project, a group of people agrees to save collectively and a chainlink random VRF will choose a person one from them every month who accesses the whole pool of money for that month. So, everyone gets access to a big amount of money randomly each month. If a person gets money then he/she would not be allowed to participate further and they will have to pay interest on that amount as per the rule mentioned in the smart contract. So if a person pays money every month he/she will earn interest on that money as well as a person who gets a pool of money early pays interest hence it is also a nice investing scheme for the user.
- Trust issues using chainlink VRF will get a random number which will help to select a random winner and,
- Transaction records will be stored on IPFS and Ethereum blockchain so there will be no tempering of data, unlike the physical ledger.
I will build this project on the Ethereum blockchain the smart contract will be written on Solidity and the deployment script and test script will be written on JS on a hardhat. For the front end, I'll use ReactJS and a web library like web3UIkit, Moralis, or whatever new or awesome I'll encounter while building the project.