Inspiration
Hello Everyone! CryptoMine is an application and business solution that provides a different monetary payment alternative for purchases online. I have been inspired by cryptocurrency mining and data research on how virtual assets work to deliver the items in a seamless effort with secure and authentic transactions using USSD and biometrics.
What it does
CryptoMine comes up with an innovative solution that presents itself with the integration of USSD and biometrics authentication. Let’s say you want to make a purchase of a 1 bitcoin value. Our application makes use of blockchain technology to ensure proper encrypted private keys and hashing algorithms such as SHA-256 Script for cryptography. When using blockchain, after the transmission of your request to make a purchase, you have the option of either using USSD to continue or biometric authentication to carry on. Our main goal is to get your purchase done in a secure manner and the next step to get your purchase receipt authenticated. The use of USSD is connected to our service if in case virtual currency transfers through the internet does not work or just as an option. Moreover with biometrics, the authentication of each transaction is recorded through a crypto block, ensuring its record and payment.
How we built it
Considering the monopoly of only a single monetary source, that is fiat currency, we want to create a less disruptive banking system payment to facilitate online purchases for our own priorities in creating a secure payment methodology. Often, people do receive scam alerts and the need to request their human verification online. We would want to reduce and avoid this option by making blockchain integrating biometrics and USSD. The hassle needed to complete logic puzzles makes the use of our time and is unreliable as the code can easily be solved by AI nowadays. Therefore, we are implementing a new system that only needs you to authenticate through simple steps like BDA’S and USSD. Our technology consists to ease your information payment and safeguard to emit a sound environment for accessibility.
Challenges we ran into
- Having to analyze different market opportunities background
- Adverts and promotions for our solution to be used
- Number of statistics on a global scale for the usage of the solution
- Figures and statistics of crypto users wanting to have such a payment idea
Accomplishments we're proud of
We have been able to provide a different source of payment to clients of different age gaps and all backgrounds to have the knowledge of a form of cryptocurrency payment, allowing transfers of money through the internet and through USSD. Making cryptocurrency available to everyone and having a recovery plan are what benefit ours and our clients’ satisfaction. Moreover, we have the opportunity to offer a more user-friendly and secure form of payment. Our priorities are to focus on the accessibility and feasibility to do financial transactions via fiat or cryptocurrency.
What we learned
The core process of finding a solution to a common problem is what has brought our solution as an application to ease access to cryptocurrency for everyone. Moreover, with the price and values of bitcoin in the marketplace, we are acquiring the knowledge to gather valuable data assets and improve research in what we are doing using cryptocurrency as a tool for improvement of financial data for tailored purposes. With a difference in design and approach, we would like our clients to invest their money through blockchain and therefore using collaborative partners such as CBDC’S and apps in respect to their allowance usage.
What’s next for CryptoMine
We would like to deploy our application and make it available to users of all different backgrounds, especially in the African marketplace as there is a greater knowledge need to learn about cryptocurrency according to statistics. We are also eager to demonstrate the different versatility of our app so that both fiat and cryptocurrency purchases are available to everyone and create a network of connectivity amongst users. The patent fee for the creation of the application is quite high and requires specific technical background. However, we really appreciate funding that helps us to move on further with the project.
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