Hi,
This is the
SaveIdea entry for the project:
With COVID-19 we all have to face another global issue like global warming; global depression. "Splitting the word out" is a proven strategy to get some relief and cope with the situation.
This is the main motivation of this project, make people trust each other and make them happy. It is not bounded by only church, church is the starting point.
It is a project want to prove even non-tech users can use and understand the main concepts of blockchain philosophy:
1)Anonymity
2)Power of Decentralization -> Democracy
3)Their results: TRUST
For example, you register here and share about your experience, this sharing gets voted for 24h by the community for a cost proportional to the inverse of "trust", which is calculated by a concept named, non-fungible token.
After 24h, your sharing gets hashed to the network, nobody can see the content after 24h. If %51 of the community decided it as "confession", you rewarded by 1 COT, confession token, if it decided it as "admission", you rewarded in ADT, admission token.
The reward for ADT is calculated by following:
[(your COT#/ total COT#) * 100] ADT
If you trust the system and gets more COT, your trust to the system rewarded by the system itself.
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It will be implemented using ERC-1155 and as a result, it is not adding up cost to the mainnet and transactions cost will be low.
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This project might be a revolution for the crypto-finance industry, because before it, a chain-account is not have an identity concept, with this project, you can barrow/rent token/coins in the future, because you have a perfect identity in the blockchain: an NFT token named COT, who encapsulates your secrets.
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All of us have the same question in our minds, "What is the value of this digital representation ? How it worths some money at all? "
The ConfessIt project is the only project can answer this question in 2 Words:
Your Secrets
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Vote Cost = [1/ your COT #] ADT (meaning of "cost proportional to the inverse of "trust"" )
The Idea was developed by Cihangir Umithan Goktolga.
https://save-ideas.com/profile/my-ideas/idea/6035af358715d9001316cea8
https://save-ideas.com/explore/idea/6035af358715d9001316cea8