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Technical details

BCH address to donate

bitcoincash:qqjtwdw6alwx83eachjdkf4rdrs853sd3gerkzr6m0

SLP address to vote

simpleledger:qzzf6vpwes27m8nqhajau0m4fld4wpvz2u3849jcew

Inspiration

Our vision is to establish a service that helps people to get actively involved in the world of cryptocurrencies with daily spending and transactions while using and monitoring their own wallet just the same way as the ordinary bank account during online banking; with the same methods, words and concepts.

Declarations

ChainBridge is made from scratch during the CoinParty 2021 hackathon.

We used libraries from Standard Python Library only in our python file.

What it does

ChainBridge is a service and application to transform BCH transaction history into old-school government, banking or credit-scoring related documents.

The output of blockchain explorers are obvious for experts but hardly understandable for outsiders and mostly out of scope for authorities or financial institutions. Our product turns blockchain explorer output into classical documents like Statement of Account or Account Activity.

How we built it

We like to use standard software engineering and business processes during development. The first topic means UML diagrams such as use case diagram, class diagram, and sequence diagrams. From the field of business methods, we made a full business model canvas and a plan on the next 24 months. We always begin our development process with engineering the software structure. After that begins the age of diagrams. When we know our idea very well, we sit down to code. This was the building process during this hackathon as well. Since we are a team for two, we can share the tasks.

Since we create our project from scratch the time limitation was an enormous challenge. However, we have made python codes, plans, diagrams and a book about the project. We wanted to make a full business plan with marketing research and pricing, but we ran out of the time.

We like to use open source software. That’s why we used for example LibreOffice, Inkscape, Gimp, Atom, etc.

Challenges we ran into

Blockchain transaction data seems to be very obvious and it is obvious if we don’t want to step out of the scope of the world of blockchain. But if we aim to translate blockchain transaction data into banking norms and terms we can have tricky surprises that we have to solve somehow.

Accomplishments that we're proud of

We made this project totally from scratch the idea itself was born right before hackathon. We are proud of having the chance to have that deep overview of the topic.

What we learned

We learned a lot about the use of blockchain and blockchain explorers.

What's next for ChainBridge

We built a product where we have all the needed skills to continue with it. It is only a question of opportunities whether this project becomes a real life product or not. We can imagine our solution on its own or as a part of an existing blockchain explorer service as well. To make it prosper, we only need investment, venture capital investment or a startup incubation opportunity.

Built With

We built documentation according to the UML standard about:

classes, Class diagram check the carousel above for the details
use cases, Use Case diagram check the carousel above for the details
workflows, sequences
- Sequence Diagram: Creating Document check the carousel above for the details
- Sequence Diagram: Checking Certification check the carousel above for the details
We built code prototypes with Python.

Short article

ChainBridge is a service and application to transform BCH transaction history into old-school government, banking or credit-scoring related documents.

We called our solution a bridge, since we want to make a connection between the new, digital assets and the traditional banking habits and approaches. The COVID-19 epidemic shows, that cryptocurrencies can be good alternatives to classic fiat money transactions. However, people, who handle confident their own money or bank account, can struggle with the field of cryptocurrencies. Different definitions and strange words make barriers to wider usage of digital assets. Our solution helps people to handle their own cryptocurrency account as a common bank account with familiar services such as creating Statements of Account or getting Account Activity history. Filter functions and statistics help to follow up incoming and outgoing transactions as well. Users can create well-formatted and organized documents for further usage such as certificate to the local tax authority or appendix of a contract that is made away from keyboard. Our documents can be accessed online by their unique identification, this protects the system against faking. Users can hide the actual wallet ID from authorities or other entities while having a certificate, which proves the shown data is based on blockchain information.

We believe, that cryptocurrency is not only for technocrats, hipsters or IT gurus, but for the owner of a local grocery store, taxi driver or the old lady from the neighborhood.

Based on different global surveys such as Deloitte’s 2020 Global Blockchain Survey or PwC’s Global Blockchain Survey about blockchain we can state there is still lack of trust against blockchains due to various reasons. Key arguments relate to implementation, regulation, compliance and the lack of trust in general. However blockchain technology itself promises and realizes a high level of transparency, understanding and experiencing this attribute of that technology is not that obvious, since the use of the existing high quality blockchain tools mostly requires some level of knowledge about the blockchain technology itself. Giving a simple example, comparing the view of a bank account history to the view of the history of a blockchain wallet, seems like we would order extra parts to our new vehicles directly with product numbers instead of their names.

Our solution, ChainBridge brings the new norm into the field of paying with cryptocurrencies and accepting cryptocurrencies. With us the information about transaction history and balance of a blockchain wallet is the same clear and obvious just like received from the bank. Because the wallet history document looks like a banking document, the wallet history is usable like a bank account for authorities, taxation or financial services like credit scoring, etc.