The Seeker is soliciting innovative ideas and insights on future new payment systems (loosely defined as virtual currencies, prepaid cards, mobile money transfers, and hybrids thereof) and how to foster financial innovation while still allowing for oversight and detection of illegal activity.
This is an Ideation Challenge with a guaranteed award for at least one submitted solution.
New payment systems (NPS) such as Bitcoin, M-PESA, and Kipoche hold the promise of making commerce accessible to millions of people worldwide who have no access to traditional banking systems, and yet they also pose new risks to consumers and new opportunities for nefarious actors to exploit this relatively ungoverned space. The Seeker is soliciting innovative ideas and insights on future new payment systems and how to foster financial innovation while still allowing for oversight and detection of illegal activity to aid in anti-money laundering and anti-terror financing efforts.
About the Seeker
The Combating Terrorism Technical Support Office (CTTSO) provides a forum for interagency and international users to discuss mission requirements to combat terrorism, prioritize those requirements, fund and manage solutions, and deliver capabilities. The CTTSO accomplishes these objectives through rapid prototyping of novel solutions developed and field-tested before the traditional acquisition systems are fully engaged. This low-risk approach encourages interdepartmental and interagency collaboration, thereby reducing duplication, eliminating capability gaps, and stretching development dollars.
This is an Ideation Challenge, which has the following unique features:
Submissions to this Challenge must be received by 11:59 PM (US Eastern Time) on 16-MAR-2015. Late submissions will not be considered.
After the Challenge deadline, the Seeker will complete the review process and make a decision with regards to the Winning Solution(s). All Solvers that submitted a proposal will be notified on the status of their submissions; however, no detailed evaluation of individual submissions will be provided.
What is an InnoCentive Ideation™ Challenge?
An InnoCentive Ideation™ Challenge is a broad question formulated to obtain access to new ideas, similar to a global brainstorm for producing a breakthrough idea or market survey which may include ideas for a new product line, a new commercial application for a current product, or even a viral marketing idea to recruit new customers. Ideation™ Challenge submissions are typically about two written pages, and Seekers receive a non-exclusive, perpetual license to use all submissions.
In an Ideation™ Challenge, Solvers may:
Solvers should not reveal any confidential information in their submissions. Often the Ideation™ Challenge will be followed by one or more of the other three Challenge types to further develop the ideas and gain Intellectual Property protection when the concept has been well-defined.