The problem DeFund, optimal blockchain based Chit Fund. solves

Decentralized chit funds solve the problem of trust and transparency in traditional chit funds, where a centralized authority manages the fund and participants may not have equal access to information. By using blockchain technology, decentralized chit funds ensure transparency, immutability, and security of transactions, and allow for equal participation and access to information. This eliminates the risk of fraud or mismanagement by a central authority and makes the investment process more fair and accessible for everyone involved.

Challenges we ran into

connecting the front-end interface to the smart contract on the blockchain was technically complex, and required our team to have expertise in web development and blockchain technologies. Additionally, deploying the smart contract to the blockchain network and ensuring its proper functioning was a challenging task that required a deep understanding of the underlying technology. Other challenges we faced included designing an intuitive user interface that is easy to use, ensuring proper security measures are in place to prevent fraud or hacking attempts, and testing the system for potential vulnerabilities or bugs that could impact its performance or security.