Inspiration
We are tackling the $500 billion+ global challenge of misused government subsidies. Traditional cash transfers often lead to spending on non-essentials like alcohol and tobacco rather than critical needs like food and medicine. BitVoucher aims to ensure that taxpayer funds are spent as intended by leveraging Bitcoin's transparency and programmable money capabilities. This initiative addresses the social issue of how government-allocated funds can be mismanaged, and I am committed to promoting transparency and the effective use of these funds for their intended purposes.
What it does
The government distributes Sats to recipients and maintains a whitelist of approved vendors where this money can be spent. Recipients have the flexibility to purchase anything from these vendors, but the funds cannot be used for any other purposes. This approach ensures that the allocated resources are directed toward specific businesses and services, promoting responsible spending and accountability.
How we built it
I have set up wallets for every registered vendor and recipient. The admin is responsible for distributing funds to the recipients and creating vendor accounts. With these funds, recipients can purchase various items from the vendors, ensuring that the money is used effectively within the established system. This structure helps streamline the process and maintain oversight over how the funds are utilized.
Challenges we ran into
The primary challenge I faced was connecting to LNbits, which was resolved later with the help of a tutorial. After overcoming that hurdle, the rest of the design process went smoothly, allowing the project to progress without further issues.
Accomplishments that we're proud of
It was my first time building on the Lightning Network, and I’m really pleased that I was able to complete a working prototype of the idea I envisioned. This experience has been incredibly fulfilling and has motivated me to explore more possibilities within the network.
What we learned
I learned about the Lightning Network in preparation for the hackathon. I studied the design of the network and gained insights into how it operates. This knowledge helped me implement the project successfully, allowing me to put theory into practice and create something tangible.
What's next for BitVoucher
I have implemented a prototype of a simple linear function. My plan is to develop an app that includes full whitelist functionality, along with additional features focused on government needs. This more structured approach will ensure that the funds are utilized effectively, providing the government with greater assurance that the resources are being used in the most beneficial way possible.
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