How might blockchain technology save Detroit's depressed economy?
Detroit has an ill economy. We needed to create a solution that could revive the state of detroit.
Since Detroit has little to no capital, we wanted to solve their crisis using minimal resources. After a lot of post-its, my group and I kept coming back to one question. "What does Detroit already have?"
They might volunteer, but only a few percentage of people would be interested...
Compensate them for their efforts! But the city doesn't have enough resources...
My group and I were given a hint of hope from our professor, the word "cryptocurrency". We decided to research about cryptocurrency & the blockchain technology. After that, it was clear to us. This was the path to take.
Official Google Definition : "a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank."
We decided to settle on this method since it could change the way people exchange services and products.
Next, we decided that our solution would work best in a mobile app since most people have a smartphone.
My group and I created this journey map to understand a user's journey.
The mobile app we created after multiple iterations, and brainstorming sessions.