We are all aware that the political parties are allocated an upper limit on their budget but the stats show that they end up spending more on their campaigns. This extra money usually comes from the people with the intention of money laundering.
Currently, there is no publically accessible way to track the total amount of donations received by each party. There are several loopholes in this system, so parties are able to amass a lot of money, unnoticed by Election Commission.
So we have devised a system to decentralize the information and made it publicly accessible with a record of the transaction history. We link each transaction with the donor's Adhaar Number. By doing this it will be impossible for the political parties to earn black money due to the publically accessible details of each transaction and user's involvement in the same.
SOLUTION:
We deployed our own Token "BOND" on the Matic network that limits any political party from having more than 5,00,00,000 number of BND token using its smart contract.
The actual donations are sent using PayPal (due to current Indian regulations regarding cryptocurrency transactions) to the respective parties, and the same is mimicked on the blockchain, sending a transaction from 'our' address to party's address.
There is also a voice-first approach to know the current donation amounts of each party through custom Alexa Skill.
Currently, India is not much supportive of the currency exchange using blockchain, so we had to incorporate fiat transactions as well as to record it using our custom tokens (worth nothing, just a representation) on Matic network.
Other technical challenges were:
Discussion