What does a Use Case Smart Contract for Philanthropy look like -in your opinion- on the Cardano platform?

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I ask myself… What does a Philanthropy Smart Contract look like? What does it look like to others? Seriously - What does a Smart Contract on Cardano look like to our community when comparing their idea of what it is to an ERC20 on the ETH platform?
With Shelley in full swing right now with developers working out the bugs that come up on testnet the next move for Cardano is to enable our community to launch dApps and Smart Contract’s, what type of Smart Contract will you utilize? What type of Smart Contract do you hope will be available for you to utilize in your life?
Let me share my idea of what type of Smart Contract I would love to see on Cardano:

This all comes from my earlier efforts to create a charity drive for our #cardanocommunity members which through my efforts I was introduced to Kiva, Thanx @RobJF for introducing me!

Also this thread is a result of my post here: Cardano Community Kiva lending team I would love to have the opportunity to run my contribution through a Smart Contract to introduce people to philanthropy, I believe the effort to bank the unbanked through Smart Contracts would support IOHK’s Africa Initiative (in thier Blogposts here: https://iohk.io/en/blog/posts/page-1/#blog-posts ) and would benefit the initiative if the contract is well written and supported throughout our community, Kiva is moving large amounts of money through the legacy payment system at the high cost of insuring it and transferring the value across sea’s, we can make sure more of the money lent can go to the borrower and remove some of the burdens of the interest and fee’s they pay to get a loan.

A contract I would utilize looks like the below.

  1. A borrower could be vetted by a member of our community and be recommended to receive a loan through a Smart Contract.

  2. A Lender could view all recommendations submitted by trusted members that are vetting borrowers

  3. Lender decides to pull the pin on a good cause and initiates a Smart Contract to Lock up Ada that transfers the value of the cryptocurrency to the community member that trust’s the borrower- yet the Lender maintains delegation/Staking right’s and the Ada is used as collateral to secure a loan in the borrowers native currency, Lender continues to Stake the amount of the loan with expectation of it bieng paid in full - with Interest or not that would be up to the Lender, the borrower now has native currency to better their life.

  4. This would work for micro loans and the Smart Contract can be written to allow the trusted member vetting borrowers to hold the weight of the loan at their own expense if the borrower defaults- a smart contract can be written with many clauses.

What type of Smart Contract are you all expecting to use in the future?

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I think that’s probably the weak point of your scheme. Who’s to say either that a community member is honest, or that they have good judgement? Kiva uses local agencies that have the resources to checkout a potential borrower’s credit-worthiness. IMO any Cardano scheme would have to do the same thing, probably even in many cases use the same agencies. Which is why I think we need to focus on the benefits of using crypto to get the funds to the agencies, and let them do what they do best.

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I would imagine the smart contract aspect would allow step by step release of funds as milestones are accomplished. This would also bypass the length of time money is tied up in local currency. Blockchain certification can also be used to legitimize persons having high social values. Even Mother Theresa struggled with banking services. And, given the isolation and geography of the people most poised to change their lives with blockchain, an angel- sponsored local village use of ADA would prove itself from grassroots up. NGO charity groups have infrastructure to distribute the technology and teaching. Micro loans are still loans. Charging usery isn’t quite the same as charity. Even the Old Testament instructed to allow a second harvest (free) strictly for the poor.