Proof of Usefulness Report

CWALLET

Analysis completed on 2/3/2026

+57
Proof of Usefulness Score
You're In Business

The submission conflates two distinct entities: 'CWallet Services W.L.L.' (a licensed Qatar-based fintech/neo-bank) and 'Cwallet.com' (a global crypto wallet/bot platform). The description and business type ('Neo Bank', 'Cross-border money transfer') align with the Qatar entity, which has verified traction (~$1.4M funding, Qatar Central Bank license, ~50k users). However, the provided URL and email belong to the crypto platform. The evaluation focuses on the Qatar fintech project described in the text. The claim 'most people have used my product' is rejected as false/exaggerated. The score reflects strong utility and verified regional traction, heavily penalized for the identity confusion and misleading reach claims.

Ready to Compete for $150k+ in Prizes?

Move this data into a HackerNoon blog draft to become eligible for your share of $150k+ in cash and software prizes

View All Reports

Score Breakdown

Real World Utility+20.00
Audience Reach Impact+4.00
Technical Innovation+9.00
Evidence Of Traction+10.00
Market Timing Relevance+8.00
Functional Completeness+0.50
Subtotal+51.5
Usefulness Multiplierx1.10
Final Score+57

Project Details

Project URL
Description
We are on a mission to become Qatar’s First Licensed Neo Bank!

Algorithm Insights

Market Position
Growing utility with room for optimization
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline