Inspiration
Driip started when I was messing around with the ethereum virtual machine. I had built a tax smart contract and a payroll contract but the fees and speed were not feasible for real world use case.
Now that XRP has hooks, I was easily able to achieve my goals.
What it does
Driip connects your XRPL wallets to quickbooks. When migrating we grab your tax amounts and generate hook accounts for each tax bracket. When users submit transactions to you, the tax is automatically deducted from the total and sent to the tax authorities. Tax authorities are reporting companies licensed by CPA's for the reporting of automated tax transactions on the blockchain.
How we built it
We built it using swift for the mobile app and web pack/react for the web version. Currently Driip offers self custody wallets but we will be moving to the Xumm wallet ASAP.
Challenges we ran into
Ethereum wasn't able to handle the complexity of our use cases. XRPL js and py didn't have the capibility to interact with hooks or NFT's.
Accomplishments that we're proud of
Tax Hook Payroll Hook
What we learned
XRP is no match for any other blockchain currently on the market. After testing transactions on EVM, XLM and XRP. XRP is our clear winner.
What's next for Driip Finance
Xumm integration. External Testers in App Store.
Tax Authority Reporting Center Payroll Authority Reporting Center
Log in or sign up for Devpost to join the conversation.