Design objective DO: Objectives of the blockchain crowdlending prototype
The 17 objectives guiding design and evaluation are: financial sustainability (support cost recovery via a balanced profit equation); social purpose (prioritize creation of social benefits); allow small-amount investments (via low transaction costs); provide editable information about funding projects; provide a mechanism to establish and measure user reputation; define and enforce platform rules (e.g., maximum invest per investor and funding cap per project); crowd due diligence (allow comments by any user to help detect fraud); provision-point mechanism (minimum funding threshold before funds are released); provide reporting functions on transactions; transaction volume (scalable throughput); trust and personal identification (seamless, not a barrier); reduction of manual activities (automate transaction and lifecycle management); reliable and trustworthy transaction processing; stability of credit currency (avoid high fluctuations); avoidance of complex interfaces (reduce implementation effort and legacy dependence); transaction time (acceptable delays); and data persistency (store data persistently and immutably for transparency, traceability and archiving).
Source paper
This design objective is proposed by Unchaining Social Businesses - Blockchain as the Basic Technology of a Crowdlending Platform (Andre Schweizer, Vincent Schlatt, Nils Urbach, Gilbert Fridgen, 2017).
Citations
[1] Andre Schweizer, Vincent Schlatt, Nils Urbach, Gilbert Fridgen. Unchaining Social Businesses - Blockchain as the Basic Technology of a Crowdlending Platform. ICIS 2017 Proceedings. https://aisel.aisnet.org/icis2017/TransformingSociety/Presentations/8 (opens in a new tab) [2] Source document: Unchaining Social Businesses (only objectives).pdf