divbox

Home Page
When you scroll down the home page, You see Two section Merchant & Customer. You pick your section
If you're a new Merchant, You can register your business
As a Merchant, you'll get the QR code for accepting bitcoin
As a Customer, You can see the amount of Cashback you have won.

Inspiration

The inspiration was plenty for creating something like a divWallet. We wanted to solve many problems but due to interest in time, narrowing it down to one single issue was a tough call. We narrowed down the merchant payment as we believe the solution at hand affects two sides of the economy - The Merchants & customers. DivWallets help the Merchants by creating an integrated QR code that accepts payments from any wallet essentially solving the payment acceptance issue, on the Customer end of the thing, DivWallets gives consumers to earn cashback which is great for promoting adoption.

What it does

DivWallet helps merchants and users. On the merchant side - people from El Salvador struggle when offering bitcoin as payment to their customers. People need to use very specific wallets and some of them aren't available for non-el-Salvadorians, preventing users from paying. With DivWallet, merchants can use a publicly available wallet (rWallet) to offer bitcoin-pegged payments (via RBTC) to their customers and reward those customers with cashback. The DivWallet also conveniently promotes businesses directly in the app, helping merchants to acquire new customers.

How we built it

We used the open-source and publicly available rWallet from RSK to offer a single solution where merchants and users can interact in a more frictionless way, reducing the compatibility issues faced by merchants and customers when using bitcoin for payments. The rWallet supports the SmartBitcoin (rBTC), which allowed us to create a decentralized and censorship resistance dApp for processing payments. The smart contract generates a unique QR code for the merchant and customers can send rBTC directly to this QR code. When payments are received, the smart contract automatically transfers funds to the merchant's wallet and accumulates cashback for the customer, who will be able to withdraw them later at any time.

Challenges we ran into

The web3 integration with the rWallet isn't perfect, some technical issues needed to be faced to properly integrate the dApp with rWallet, for example, we needed to find an alternative method for detecting confirmed transactions since rWallet doesn't fully support the standard web3 method for that.

Accomplishments that we're proud of

I'd say that we managed to build a web app that's easy to use and allows merchants to promote their business while also incentivizing customers to spend their money with those merchants, increasing the adoption of digital payments for a number of unbanked citizens.

What we learned

Our most valuable learning would be getting a perspective on how cryptocurrencies can change the world. Building for Bankathon has deepened our understanding of the fintech world. Hopefully, we will be able to put our learnings to good use.

What's next for Divbox

Besides cash back, we can offer customers other banking solutions that were not accessible to them before, like an interest-bearing account and the ability to take micro-loans

I suppose we can think about the future selling points: