The problem Future Flows solves

FutureFlows aims to solve several problems associated with traditional prediction markets.

First, traditional prediction markets are often subject to manipulation and biased information, as participants may have incentives to spread false information or engage in market manipulation to profit from their positions. FutureFlows addresses this issue by using a decentralized oracle system to verify the outcome of events, ensuring that accurate information is used to determine payouts.

Second, traditional prediction markets often face regulatory challenges, as they may be classified as gambling or investment instruments and subject to complex legal frameworks. By using a decentralized blockchain platform, FutureFlows avoids many of these regulatory challenges and allows users to participate in prediction markets from anywhere in the world.

FutureFlows also differentiates itself from other prediction market platforms by focusing on a wider range of markets related to social political issues, such as election outcomes, rather than just financial markets. This focus on social and political issues allows FutureFlows to serve as a decentralized platform for crowdsourced forecasting and opinion aggregation on a wide range of issues and concepts.

Admin(Deployer) Address of FutureFlow :0x0c2892735c4d7536

Challenges we ran into

We initially struggled to comprehend the mechanics of the Flow Blockchain. But the workshops helped a lot and We quickly became proficient in writing Cadence scripts and queries.
We lost half a day in integrating card payment method using USDC. It feels good to have finally succeeded but we hope the team works on to provide concise and to the point documentation.
Another challenge faced was the poor documentation available for implementing a custom wallet authentication function.

We also encountered difficulties when it came to integrating the fcl-js library with our code, as we were using it on the backend of our nodejs app. Nevertheless, the dev support team came to the rescue and now its working fine!

Challenges we're dealing with as we scale:

1. Addressing regulatory compliance: FutureFlows is in talks with legal experts to ensure compliance with relevant regulations and laws, such as securities laws and AML requirements.
2. Building trust with users: FutureFlows will take steps to increase transparency and communicate openly with users, providing reports on trading activity and platform performance.
   We are developing an independent website called Futurescan that tracks trades on FutureFlows.
3. Providing sufficient liquidity: FutureFlows will incentivize liquidity providers to join the platform by offering rewards or other benefits, and could also work to attract more traders to increase trading volume. We're integrating 'IncrementFi' to shoot the overall liquidity.
4. Addressing technical challenges: FutureFlows is looking for more Flow developers and experts in the field to address technical challenges, such as implementing security measures, improving transaction throughput, and optimizing smart contract code for efficiency in general.