MIT Solve

Solution Overview

Solution Name

FAIR WORLD

One-line solution summary.

Inspite of good government and laws, the rich are getting richer, poor are getting poorer .We can reduce this gap & give fair chances to poor people using Blockchain technology

What is your solution?

Around the world poor people are not getting proper education, sanitation, health care, etc due to corruption. Lot of people are in poverty trap zone. Our main objective is to bring those people out of that zone using Blockchain technology. In collaboration with government, details of everyone in this zone can be stored in a blockchain & for access people will be given a card individually. Bank account will also be interlinked with this blockchain and the card. Smart contracts will be coded in order to get heavy subsidy for essential needs when people access things via this card. This essential needs involve food, education, & health care. This will help them to come out of this poverty trap zone.

What specific problem are you trying to solve?

Our main objective is to bring people out of poverty. Everyone should get high quality education & health care. Corruption leads to poverty. Only way to eliminate corruption atleast for poor people is to bring smart contracts in their lives. For example, in my locality most of the people even I can't afford covid treatment. Lot of NGOs even WHO gave fund to help the needy. But most of that fund didn't reached the needy. All because of government officials and officers corruption. That's why I thought about this global database in a blockchain, because using this those organisations can directly help these people by sending help in the form of money directly to their bank account.

Who does your solution serve? In what ways will the solution impact their lives?

Close to 60% (1.3 billion) of India's population live on less than 3.10 dollars per day, which is the World bank's median poverty line. 21% population survives on less than 2 dollars per day (link). The pandemic has pushed even more people into poverty. Lot of organisations wanted to help these people. Our objective is to link those organisation & government directly to these poeple.

What steps have you taken to understand the needs of the population you want to serve?

My family, relatives & most of the friends are in this poverty trap zone for a long time. Most of the people can't even afford good education and health care. That's why I chose this idea. For developement I need mentor support which I hope I will get via this platform.

Which aspects of the Challenge does your solution most closely address?

Improving financial and economic opportunities for all (Economic Prosperity)

Our solution's stage of development:

Concept: An idea being explored for its feasibility to build a product, service, or business model based on that idea

Explain why you selected this stage of development for your solution—in other words, what have you accomplished to date?

My idea is in concept stage only. I need help to make it to next stage.

Where our solution team is headquartered or located:

Nagercoil, Tamil Nadu, India

Team Lead:

SREENATH SREEKUMAR