COINI

Splash
Splash
Register Phone Number
Choose Country
Put phone Number
Seed Phrase generated
Create a PIN (Password)
Create a PIN (Password)
Main
Choose a contact to send cUSD
Scan QR to send cUSD
Put amount
Confirm Amount and put a text
Invoice

Inspiration

LATAM is one of the regions with less financial inclusion. It's very hard for citizens who don't have enough resources to open a bank account and start making transactions. Blockchain and DeFi represent an alternative to include those people in the financial world. But, What's the problem? UX in blockchain applications has to be very hard for a traditional user to make transactions easily. Considering what mobile phones have the highest acceptance among the citizens whatever were their economical situation, we found an opportunity to start a new way for Financial Inclusion through mobile phones guaranteeing the highest UX in a mobile app.

In the beginning, we are focused on touristic zones from Perú, like Cusco city. There we are looking for local touristic providers who are going to start accepting crypto payments.

What it does

We are developing a self-custody wallet whose public address is related with the user phone number. We are looking to make it easy for people to start in Blockchain and Defi in the easiest way possible. Also, they can use their wallets for payments and other Defi services like loans.

How works? Users are going to register using their phone numbers. At the same time, we are creating a wallet whose address public is going to be related to the phone number. In this way, the user only has to share his phone number to start receiving payments. In the beginning, we are using cUSD like the main stable coin. For instance, the user who wants to make a payment only has to put the recipient's phone number.

We are looking to take advantage of the contactless payments in commerce with the main objective they can receive payments using QR codes. Markets are able to share their QR codes and start receiving payments through CELO Network.

Also, we are developing a payment gateway for e-commerce companies who are going to be able to receive payments easily and efficiently.

How we built it

We developed the backend first who are use the Celo API's. Then we developed the mobilke app

Challenges we ran into

The main challenge was learning about Celo ecosystem. Our development team have a lot of experience building traditional digital products but they have low interaction with blockchain. It was an amazing way and a lot of experience.

Accomplishments that we're proud of

Our experience in digital product development is the base of our work. We are accomplishment about our UX, because it is going to be the first interaction with the users.

What we learned

We can developed blockchain digital products to make easy the life for thousands of people who are not included by the traditional financial system.

What's next for COINI

At a functional level first, we need to complete the integration between our mobile development and our backend. After that, we are going to completely encrypt the data in the mobile phone. Finally, we are going to develop a decentralized register for phone numbers that are related to phone numbers. We will develop something like ENS but using mobile phones.

When our solution will be available we are going to develop the Cash-in and Cash-out system. Here we are looking for integration with a local credit card payment or traditional bank entity that allows our users can deposit FIAT and buy cUSD. After that, we are made strong our cash-out system through a P2P automated section or maybe make a partnership with a regional CEX for a Cash-out system.