Inspiration

I came up with the idea while thinking of how of fiat transactions can be confirmed by the smart contract for a decentralized market place. As fiat currency still plays a large in business transactions, verifying and confirming such transactions is required. Many other inventions that involve the exchange of funds will definitely benefit from aefiat.

What it does

AEFIAT is a suite of oracles that connects with payment platforms to confirm a fiat transaction. The transaction id is supplied by the user and the oracle connects with the payment platform API to verify and confirm the transaction. The API response is then made available to the smart contract for prompt decision making.

How I built it

I developed a server and client interface to use the Braintree API for getting payments. Braintree accepts over 15+ forms of payment some of which are Credit/Debit cards, Paypal, Apple Pay, Samsung Pay, Google Pay, Venmo, ACH Direct Debit, Trustly, giropay etc. The client interface is used in collecting user details, while the server side is used in confirming the details and processing the transaction. The server side has a route which can be queried with a transaction id. The details of the transactions are returned by the server.

The oracle is built using the JavaScript SDK and it responds to all request by querying the server API with a transaction id. The processorResponseText object of the server response is then save on the blockchain for smart contracts query.

Challenges I ran into

The biggest challenge so far was digging through Braintree API documentation while implementing the payment server and client interface.

Accomplishments I'm proud of

My biggest accomplishment in the course of the haeckhathon would be the VIM syntax plugin I developed for Sophia. I use VIM as my primary editor and had to write a plugin to highlight Sophia's syntax. I'm also happy that I could create a POC for confirming fiat transactions on the blockchain. This means a lot as many aepps e.g decentralized marketplace or store, DEX, Gaming or betting site, Crowdfunding sites, p2p platform etc. can depend on the oracle for confirming any fiat transaction. Link to sophia-vim-syntax

What I learnt

I learnt a couple of things while working on the project, some of which includes:

  1. Getting to understand how oracles interface with real world data
  2. Getting to understand aeproject as a tool and using it effectively

What's next for AEFIAT

I plan to add more oracles and payment platforms to the suite so as to make it easy to confirm and verify any fiat transaction.

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