Coin Bungalow

Coin Bungalow

CoinBungalow: Where Ownership is Empowered, DAOs Thrive, and NFT Loans Unleash Potential!

The problem Coin Bungalow solves

Problem 1: Property document mutation via illegal means is a big issue in India. Thousands of property owners get scammed due to this.
Coin Bungalow is a blockchain based ecosystem that ensures transparency of ownership records and a secure transfer mechanism. Users can list their properties with supporting documents, wait for approval and verification by the governace and boom..! a unique property NFT is issued for them. These NFTs can be listed for sale and ownership rights can be transferred. These NFTs are themselves the proof of ownership, thereby eliminating complex paper work.
These property NFTs can also be put as collateral for peer to peer loans. Lenders can choose whom to lend and if the borrower fails to repay the loan, it automatically defaults and the collateral is transferred to the lender.

Problem 2: Not all members of a community have a say in the decisions and governance. Nor everyone takes a part in community driven projects.
By using Coin Bungalow, you can create a DAO with a goal, create ideas in it and witness the power of community. Community members can donate, vote for ideas and interact through chat.

Challenges we ran into

Deployment was a little bit tricky as we used ipfs website deployment, but in the end everything worked out.

Tracks Applied (4)

NFT, Art & Gaming

The project utilizes NFTs to represent ownership of properties, and facilitates NFT collateralized loans.

Defi

The project facilitates p2p nft collateralized loans

Blockchain & Cryptocurrencies

The project uses power of blockchain to ensure a transparent ecosystem and cryptrocurrencies to facilitate transactions

Comunity

The project empowers community through the power of decentralized autonomous organizations

Discussion