Best Ideas 2018 features all the nominated entries submitted to the Youth Citizen Entrepreneurship Competition under ‘Submit your Idea’ category. All the entries consist of innovative solution or proposition for an enterprise that champions the Sustainable Development Goals. They can be on the conceptual, planning, or start-up stage. If you want to know the 10 finalists in this category, click HERE
Explain your idea in details:
Harnessing religious faith for science, Akbar will reward users who simulate protein folding on their computers to solve global medical problems for Akbar, a shariah-friendly, tradable cryptocurrency. First, there are 1.8 billion Muslims in the world and their combined computing power can help to solve many medical issues. Proteins exist in our bodies. When they misfold, cancers and illnesses are created in our bodies and taxes the healthcare system. We aim to create solutions to them by simulating possible solutions. Second, Akbar can enable Muslims' entry into cryptocurrency, most of which are not shariah-friendly. The Quran preaches that one may not speculate with cryptocurrency, and currency may only include 6 materials, two of which are gold and silver. Most paper money and cryptocurrency do not satisfy those criteria. Third, cryptocurrency is not widely adopted by the world; even though many have good technology and transactions ("hard" appeal), they do not have "soft" appeal like ethnicity or religious faith. We aim to change that. Our innovation merges religious faith, science and medicine, and blockchain technology together. Eventually, it will become a global currency and payment system. We will create similar coins for other religions as well!
Expected impact of your idea on sustainable development
A. Using computers to generate Bitcoin and other cryptocurrency are the most wasteful way of spending electricity, in the most inefficient way possible. We change the equation by using the electricity and computing power to generate solutions to medical problems and science. We aim for at least 1% of the world's electricity that is now spent on generating cryptocurrency to be spent on Akbar. B. Other Targets: 1. The number of people that downloads work units and generate Akbars. 2. The number of shops which accepts Akbars. 3. The daily trading volume of Akbar on cryptocurrency exchanges. 4. The daily transaction volume of Akbars. 5. The daily total value of goods and services purchased with Akbars. 6. The cancers and illnesses solved with Akbar generators.
Plans for implementation and sustainability
Our marketing will include: - Marketing events in nations and subgroups with distinctive Islamic identities. - Set up marketing offices in regions as focal points, which are satellite offices in charge of their respective marketing and sales. Our business model is that to generate revenue, we will display ads to our miners and payers and payees, market halal goods to our user data lists, and concoct partnerships with companies to promote goods in return for commissions payable to us. We will also work with shopping online platforms. Our financing source will be accredited investors who love the brand and mission of our coin. In exchange for cash, they will be transferred a portion of Akbar coins. Our collaborators will include various Muslim personalities and professionals who will energetically promote the mission and cryptocurrency.
Bernard is 25 in 2018. He is a youth advocate and human rights expert. He is passionate about social and political rights, critical thinking, and blockchain technology. Based in Singapore, Bernard works as a Financial Adviser for High Net Worth Professionals and Business Experts at an investment & insurance company. Bernard also serves as a Young Leader Fellow at Women Deliver, a 6 Degrees / Institute of Canadian Citizenship Junior Fellow, and has represented Singapore in many official high-level conferences abroad, like the UN Global Youth Forum 2012. He was recognized by past Prime Minister Goh Chok Tong as a Young Community Leader awardee in 2010 and 2013. I want to use blockchain technology to change how the world transacts goods and services. I believe that freedom is the value that motivates what I do.