My Two Ideas for a Blockchain Project

I would just like to note some ideas that came to my mind. And since I don’t have the time and capital to do any at the moment, I decided to post it publicly and maybe someone out there might like it and make something out of it.

Blockchain Rating System for Government Contracts

Governments are big and bureaucratic organizations where the left hand doesn’t know what the right hand is doing. It is so big that without its “red tape” procedures, government heads won’t know what is happening under their noses. And since it is not a private “for-profit” institution, no one is incentivised to monitor for shady activities. It is a breeding ground for corruption.

I am thinking about accredited government suppliers/contractors should have a public profile with ratings from private companies, governments or other types of clients, kind of like eBay ratings but recorded in a blockchain. Now, the government should be able to do away with accepting the lowest bid from anyone without a decent rating. This will prevent low-bid winners from cutting corners with regards to building/construction expenses. (It is a common practice to quote low bid prices with the cheapest sub-standard materials in mind in order to win contracts.)

A Cryptocurrency Vault

I’m thinking about an offline Fort-Knox-type of a vault for cryptocurrencies, complete with high-wire fences and armed guards to protect your large stash of crypto wealth. One of these days storing your billions worth of Bitcoin under your mattress is going to be a security nightmare.

Actually, Bakkt is doing this for their institutional clients already (custody and storage). But none so far for private individuals.