Versura
A blockchain based crowdfunding platform
Created on 14th July 2024
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Versura
A blockchain based crowdfunding platform
The problem Versura solves
● Foreign Exchange Risks: Foreign exchange limitations and Purchase Power Parity (PPP) differences ties the
contribution value to the original campaign currency, severely impacting the contributions of international users
● Use of fiat currencies: Traditional global currencies, named “fiat” in the cryptocurrency world, can be
deemed volatile due to unstable global economics and fluctuations.
● Limited global accessibility: Certain payment providers do not accept specific payment methods, thereby
reducing the overall reach of the campaign and thus, its effectiveness.
Proposed Solution:
● Decoupling of “fiat” currencies
○ Fiat currencies impose a number of restrictions on the flow of financial assets
○ Moving to alternative financial token types will remove geographical, transactional and scalar issues on financial assets
● Usage of decentralised blockchain based system
○ A blockchain is a peer-based system which records each transaction in all participating systems or “nodes”
○ In a blockchain, there is no central source of truth or authority. Each record is validated by all nodes in the system
○ A decentralised system as such ensures transactional security and integrity
Challenges we ran into
Deployment of Smart Contract on Live Testnet
Frontend Integration with Smart Contract
Errors in Transactions
Tracks Applied (3)