I created EasyEscrow due to the frustration experienced when attempting to create escrow agreements using the XRP Ledger (XRPL) and cryptocurrency. I realized that escrow agreements are incredibly useful in a wide range of scenarios, such as real estate transactions, freelance work, and even online purchases. However, the process of creating an escrow agreement using XRPL and cryptocurrency is complicated and time-consuming. As a result, I decided to develop a solution that would simplify the process by converting written PDF escrow agreements into XRPL Smart Contracts. EasyEscrow will hopefully make it easier for individuals and businesses to use blockchain-based escrow agreements.
What it does
EasyEscrow converts written PDF Escrow Agreements to XRPL Smart Contracts using natural language processing, simplifying the creation of cryptocurrency-based escrow agreements.
How we built it
EasyEscrow was built using a stack consisting of React for the frontend, Flask for the backend, and the XRPL Python library for XRP Ledger interactions. Additionally, the project utilizes the OpenAI API for natural language processing capabilities, allowing it to interpret and convert written PDF escrow agreements into logical constructs for execution on the XRP Ledger.
Challenges we ran into
The main challenge was determining which features to include vs leave out when creating the Escrow builder form. The project converged to a good medium, where it is not too busy, but still useful.
Accomplishments that we're proud of
What we learned
To create EasyEscrow, I had to learn how to use the XRPL APIs to interact with the XRP Ledger and create escrows. I also had to learn how to use the OpenAI API to interpret written PDF escrow agreements using natural language processing.
What's next for Easy Escrow
Potential future features include:
- Automatic notification of status updates
- OAuth verification
- Metamask integration