The current version of the wallet asks the user to categorize any transaction into categories before it gets executed. This categorization is flawed and I’m proposing a refresh.
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The categorization selection is a dead end, nothing is really done with it. I’m proposing that the user should be able to see the category in their transaction list, and also be able to filter transactions by category.
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The current categories feel a little haphazard and are not very MECE - mutually exclusive and collectively exhaustive. In the wallet they are A) Digital services, B) Social media engagement, C) Product, D) Course / Private Consultation, E) Donation, or F) Other. We could probably come up with a more MECE way of describing the categories. We are missing areas like food, financial services (defil), NFTs, tickets, etc. etc.
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Most notably I would like to propose two specific new categories: Loan and Loan Repayment. When building the GoodMicroGrants, the lack of these two categories have come up as an issue. With the circular community loans issued by users (notably in the Cameroon community), they don’t want these loans to show up as buy/sell transactions. We don’t want loans to count towards the MicroGrants. A good way of filtering them out would be if the user could classify the payments as loan or loan repayments. (Yes, there might be other ways of identifying these transactions, but not all. It would help if the user had an option to identify it themselves.)
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The categorization of a transaction is not recorded on chain. In web3 we are promoting transparency and auditability, so it would be great if the category was also recorded on chain along with everything else about the transaction. (note: for users wishing to keep everything private they would have the option of not categorizing their transaction).
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Another reason it’s important to put the categories on chain is this: We would like to create a quadratic donation matching at some point. This could simplify and streamline the admin process that’s currently required to set up a program such as Crypto For Her. It would help greatly if donations could be distinguished on chain, such that a quadratic smart contract could be written to leverage that info.