The talk by MakerDao inspired us to try and create a system to allow people in countries with less developed banking systems, sell their products online to people all over the world - trustlessly without relying on the volatile local currency.
What it does
The platform allows shoppers to buy locally produced goods.
One one side, the sellers receives their money instantly in the form of DAI (check the ropsten transaction below). This allows them to use all the benefits DAI has and shield themselves from the volatile nature of their local currency.
On the other side in order to drive adoption, we want to create a smooth buying experience. For the crypto-savvy shopper, you can pay with DAI. For the non-crypto-savvy shopper, we've added an option to execute blockchain transactions with credit card. At the end of the day, your mom likely wont have DAI, but still would love to buy a bracelet.
_ Note: _ Even though the payments go through with credit card - the digital footprint is kept. Here is a sample transaction we ran via fiat: https://ropsten.etherscan.io/tx/0xca266ce3a8dbea768e53abddd11efe89332e7949b5b6600bc865e1d667fd0b6b
How we built it
We've started by developing a simple website with a dummy, although very cool, products. In the meantime, we created the most basic possible marketplace smart contract. We created an ERC-20 on Ropsten to represent DAI Then we integrated with Bloom in order to provide both Login and Identity verification. This verification is later needed for fiat transactions. Last, but not least, we integrated with the pre-alpha product - LimePay to allow for executions of blockchain transactions with credit cards.
Challenges we ran into
Although this is a demo product, it still required integration with a set of smart contracts and two outside serivces (Bloom and LimePay). Making it all work and fighting through the integration was the most challenging thing there.
Accomplishments that we're proud of
We are proud that we are able to run the flow end-to-end without any mention of crypto, ETH or wallets. All of this allows for regular people to purchase freely.
What we learned
We learned that it is best to go and take a nap than banging your head during the night :D
What's next for Detsy
I can see it becoming the flagship demo for seemless blockchain-to-nonblockchain world integrations.