Centiiv was borne out of the need to enable Africans do more with Blockchain beyond the scope of cryptocurrencies. The fact that Africans still have issues when it comes to remitting funds across borders is the reason we are building Centiiv Pay to address to enable seamless payments.
What it does
Centiiv Pay is a peer-to-peer payment system on the Blockchain to facilitate cross-border payments in Africa. With Centiiv Pay, users can experience a seamless transaction without stress with little to no transaction fees involved. Here, a secure P2P system would be put in place to facilitate the remittance process whereby a crypto and fiat holder meet to exchange currencies based on the need of the parties involved.
How we built it
As a peer-to-peer payment system, we built an escrow system to facilitate a secure transaction between fiat and crypto holders. Also, with the integration of the Stellar blockchain, we also leveraged on the use of payment anchors such as Clickpesa, Flutterwave to facilitate crypto-to-bank payments. Other technologies we used are Rehive, Thresh0ld and so on.
Challenges we ran into
Challenges we ran into were putting together the logic for the crypto-to-bank settlements . However, with the integration of the Stellar blockchain, we were able to figure it out.
Accomplishments that we're proud of
- Partnership with Thresh0ld
- Partnership with GetMati
- Got registered as a legal startup in Nigeria.
- Alumni Stellar Blockchain Bootcamp 2022
- Top 5 in the Tron Grand Hackathon 2022 (DeFi Category)
- Featured on Nasdaq
- MVP Progress (Centiiv Pay) – 80% done
- Launch of Techrookie (An initiative to support our community by helping interested individuals transition into the tech space by equipping).
- Partnership with JustMoney
- Partnership with Coin Liquidity Solutions
- Onboarded Raj Kapoor of India Blockchain Alliance as our strategic advisor.
What we learned
- New technologies
- This project enabled made us learn the skill of building interoperable cross-chain applications
- As a project with team members from different background and culture, we have been able to learn and blend a cross-breed culture suitable for healthy team bonding.
What's next for Centiiv
- Launch of MVP by May ending
- Fund raising
- More partnerships
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