DeComDAO - Decentralize Compliance DAO
Building a Safer Web3
Created on 15th October 2023
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DeComDAO - Decentralize Compliance DAO
Building a Safer Web3
The problem DeComDAO - Decentralize Compliance DAO solves
USD3.9 billion crypto fraud in year 2022. In crypto world, many ppl is getting scam/hack/rug-pull left right center. This is really bad for the industry. Currently for mass users, there is almost impossible to check if the wallet belong to a malicious identity. Or at least, the research part is tedious and complicated. What if there is a portal that can tell you right away if this is a trustable wallet address?
DeComDAO is a decentralise compliance where members can report a malicious wallet address and public can check if the wallet address belong to any bad actor before making a transaction.
When a member contribute by reporting a wallet, he/she will receive token for making web3 a safer place.
It also will be govern with DAO where members can vote/validate the reported wallet address.
It is nothing new. Is like Chainalysis and Elliptic. The difference is they are centralise and we are decentralised.
They focus on enterprise solutions we focus on ordinary ppl like us.
Challenges we ran into
Initially we are out of idea what to build. Our team think quite long to decide which bounty to go and what to build.
We have 4 ideas and eventually shortlisted to this idea as it is more impactful.
Our team try very hard on new ALEO bounty but after spend 1 day, can’t even setup the environment.
Then we move forward with Taiko and it took too long to setup but at the end we manage to deploy a Taiko network
Tracks Applied (2)
Taiko - Ethereum Public Goods
Taiko 🥁
Taiko Track
Taiko 🥁