Bitbob.app - CBDC ♥ XRPL - Payment Request made easy

BitBob.app: Simplify payment requests via WhatsApp. Unleash CBDC potential through BitBob.app's seamless interoperability, empowering global usage and inclusive finance for all Ages.

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Inspiration

BitBob: CBDC Integration and XRPL Synergy for Effortless Payment Requests In a world where convenience is paramount, we have the goal to make Payment Request smooth. The current BitBob build includes FIAT currencies and settlement via digital wallet integrations (in XRP via XUMM and planned extension with WalletConnect), however FIAT currencies are changing in the near future towards CBDC’s (Central Bank Digital Currencies) and therefore expanding the compatibility during the transition period is a must and logic step forward for BitBob as the ultimate solution for streamlined payment requests with a global reach and localized experience. Payment Requests with CBDC Integration – Public issued CBDC’s. Our passion for IT and blockchain led us to draw inspiration from the well-known mobile app in the Netherlands named Tikkie, which boasts a user base around 6 million out of 17 million inhabitants in the Netherlands, the app is used by all ages. However, Tikkie relies on a centralized bank for transaction settlement information. Embracing the transparency and efficiency of public blockchains, we envisioned BitBob.app, a Payment Request app (Note: BitBob is not a wallet but a messaging layer between user - XRPL - wallets and utilizing WhatsApp for smooth communication). By leveraging blockchain technology, BitBob.app ensures secure, fast, and decentralized payment requests, empowering users with greater overview over their payment request. Our goal is to re-define the payment request experience and make financial interactions seamless, decentralized and accessible to all.

Bitbob.app in a nutshell:

Are you tired of the hassle when splitting bills or requesting payments from friends? Introducing BitBob.app, the ultimate payment request IOS app that simplifies your life! With BitBob, you can easily send payment requests to your friends via WhatsApp, and they can swiftly respond using their favorite XRP wallet. It's secure, lightning-fast, and supports decentralized market prices by utilizing Flare Networks. BitBob.app, making payment requests a breeze for everyone, regardless of age or location. BitBob.app prioritizes data security by exclusively storing information on the user's local phone, eliminating any central database. The app directly accesses data from the XRPL and Flare Network for decentralized price conversion from local currency/and future CBDC to XRP, ensuring transparency and efficiency. Technical note: No central database, all user data is stored on phone directly and phone directly queries the relevant blockchain networks.

Interablitity potential with CBDC's

With Private Ledger CBDC integration - we could unleash the full potential of CBDCs through Bitbob.app's with seamless interoperabability; BitBob.app: Seamlessly Request Payments for CBDCs and XRPL—No Technical Expertise Required

BitBob.app offers a user-friendly Payment Request platform for both Central Bank Digital Currencies (CBDCs) and XRPL. With a hassle-free integration process, CBDC network approval unlocks the power of CBDC payment settlements. Picture this: Bob purchases a birthday present and wants to split the cost among five friends. Using BitBob.app, he customizes payment preferences for XRP or CBDC, specifies the purpose, and inputs the amount through QR code scanning (ISO standards supported) or OCR invoice scanning. Next, he sends personalized WhatsApp messages to each friend, including hyperlinks for CBDC or XRP payments via XUMM (future development: WalletConnect). BitBob.app provides a comprehensive overview of payment requests, sending notifications on settlements and reminders. It seamlessly reconciles XRPL (and potential future CBDC) transactions, ensuring full visibility and clarity for Bob's created payment requests. Embrace the future of effortless payments with BitBob.app!

Payment Requests with CBDC Integration – Public issued CBDC’s Our initial goal is to provide the option for end-users to allow public CBDC integration. Imagine the following example; • Allow receiving for instance the Palau Stable Coin (PSC CBDC) which has been issues directly on the XRPL besides XRP. Let’s say Bob has created a BitBob payment request for the groceries he did for Alice. To receive his money back, Bob creates a Payment Request which is send via WhatsApp to his friend Alice. • Bob has defined in his BitBob app setting preference he allows others to settle in PSC and XRP. The WhatsApp message is automatically adjusted according to Bob his preferences. • Alice receives the WhatsApp message, chooses for instance to pay the money back to Bob in PSC and clicks on the relevant hyperlink accordingly which opens XUMM (current) / Ripple Wallet (potential), checks the details and swipes to confirm the Payment Request. She receives a ‘thank you’ message with a by Bob custom defined ‘thank you’ GIF (which was defined by Bob preferences and send through (data encrypted) WhatsApp along in parameters). • Technical note: Depending on the currency Alice is paying in; exchange rates will be determined (if required) and Flare Network decentralized price (XRP/USD) fetched directly from the Flare Network. In this example, the process was simple as the groceries where in PSC and Alice settles in PSC and therefore not required. If Alice decided to settle in XRP, it would have been relevant. • BitBob app queries the XRPL on a regular basis to verify if (relevant to BitBob created outstanding Payment Requests) have been received. Once a potential received payment match with a certain match accuracy has been identified on Bob his XRPL address, Bob will be notified by a push notification that Alice has settled in PSC for the groceries. • Bob’s BitBob Overview is automatically updated as the queried XRPL identified received payments on Bob’s his XRPL are automatically reconciled.

Overview of XRPL integrations: 1. Transaction Reconciliation: BitBob.app nimbly reconciles XRPL / public CBDC transactions, indicating fulfilled or settled payment requests. This query directly from users' phones ensures accuracy, filtering only relevant transactions, whether public CBDC or XRP-based. 2. Address Verification: The integration ensures seamless user verification by cross-referencing XRPL addresses, upholding security and trust. 3. Payment Request Preparation: BitBob.app transforms the act of preparing payment requests into an art form, seamlessly weaving public CBDC and XRP options. 4. Direct Balance Retrieval: BitBob.app’s interaction with XRPL fetches real-time balance data, enhancing user awareness and empowerment.

Challenges we ran into

  • We have XRPL knowhow, however are missing: Private Wallet Integration - SDK knowledge.
  • Acceptance bariers for users to integrate with private Blockchain and share public addresses with friends, however we expect that the majority of users doesn't care about the current hesitation the blockchain community overall has in that regards, as the user seamless user experience is more important for majority of people.

Accomplishments that we're proud of

We are running Flare Portal - Data Provider on Songbird and Flare Network and build an xAPP in XUMM. Are we are really excited by our current build on Bitbob.app and it's potential. Technically we have proven the functionality of BitBob.

What we learned

Too much to name! In the last two years working we gained so much knowledge on blockchain, networking, app builds, branding and many more.

What's next for Bitbob.app - CBDC ♥ XRPL - Payment Request made easy

  1. Finalize the full build of Bitbob.app version 1.0 and successfully release it in App Store.
  2. Enable public issued XRPL based CBDC's
  3. We are aiming to release Bitbob.app before the end of 2023 and to extend to 65+ languages and around cover 161 FIAT currencies for localized user experience and global coverage for all ages.
  4. Sequentially we want to extend the app with functionality like: Private Ledger integrations, WalletConnect extension, Extend on Digital Assets and Languages and Android App.
  5. Furthermore, we would like to keep Bitbob.app free to use for end-users however are aiming for fin(tech) integration licensing to be able to extend our team for a sustainable business.

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