The problem Souq-Chain solves

The middlemen exploits the loopholes in the system to buy the produce at a cheap rate and sell the goods at a considerably higher price. The farmers never get a fair share. Even worse, many a times they are denied the prices agreed upon in the original deal and are forced to sell their produce at a far cheaper rate than promised.The farmers even throw away their produce due to illusion of "no-demand" created by this opaque intermediate layers. Consumers buy items at insane high rates. The whole game of illusion of over-availability or non-availability is centralized in the hands of middlemen, they direct it as they want.

We are making a unified block-chain based platform for the farmers and the buyers to eliminate the intermediaries. The application will have a simple UI to enable uses with minimal training.

One can either create a supply of goods or demand of goods, reflecting the name and quantity of the item. A user can accept a demand based on his available stock.

Once a deal is made between a supplier(farmer) and a consumer, it cannot be altered or tempered without mutual consent.

A supplier can monitor the market price as he has access to the transactions happening around.

In case a deal has to be cancelled after processing it, the farmer can claim some amount of compensation. The buyer cannot deny placing an order or he cannot tamper the agreed price retroactively without 51% consent.

Thus the system will be effectively unhackable and reliably uphold the interest of both farmers and buyers.

Challenges we ran into

We had to change trackto blockchain in t he last minute and we almost learnt everything we have done overnight through blogs, tutorials and documentations on ethereum.