In Latin America, mass festivals and events have been around since approximately 1990. However, a major issue emerged around 2010 with long queues for entry, food purchases, and souvenir acquisition. These problems stem from the fact that cash payments remain the only option at such events, with limited online or credit card payment possibilities.
Moreover, the leisure and entertainment industry has witnessed significant changes thanks to the internet, mobile device advancements, Big Data, and new consumption trends. These developments have driven the implementation of more efficient payment methods, such as cashless technology, which was introduced in 2016.
Cashless technology is an electronic payment system utilizing specific technologies and software. It allows users to load funds onto a chip, typically integrated into a wristband provided upon event entry. This eliminates the need for cash, as users can simply recharge the wristband via card payments, contributing to a cashless society.
However, this technology is solely utilized for events and festivals, limiting users' ability to recharge or employ it as a payment method across other platforms. Moreover, losing the device carrying the balance poses a risk, and the plastic waste generated by cashless solutions also impacts the environment.
What it does
Kash allows users to load money into their account through debit or credit card payments and store it in their personal wallet. In addition, unlike other systems, the balance in Kash does not expire, allowing users to reuse it for future events or reload it as needed.
Our solution is not only limited to end users, we know that merchants and event organizers are also very important, that is why with Kash they will be able to obtain detailed analysis of each event, accessing information about the transactions made by users, real-time statistics per event and a complete history of Kash usage in different periods of time.
How we built it
As depicted in the diagram, we developed three applications using Next.js for different user types. We utilized Supabase for authentication, enabling seamless user management. Venly was integrated to create wallets for easy user onboarding into the crypto world, and their services facilitated interaction with the relayer.
The relayer was designed to ensure that users never have to pay blockchain fees, creating a seamless user experience without the need for users to be aware of blockchain technology. The relayer sends requests to our smart contract, facilitating secure and efficient token transactions.
Chainlink Functions played a crucial role in our solution, enabling easy and secure token assignment. We integrated Stripe's payment module and utilized a Chainlink Function to verify the purchase status and assign the appropriate token amount to the user.
During the event, users will engage in transactions with merchants. To capture and analyze these transactions, we leveraged Space and Time, storing critical data and generating valuable metrics. Additionally, with the support of Chainlink Functions and Stripe, merchants can convert their tokens.
This comprehensive architecture and integration of various technologies allowed us to create a seamless, secure, and efficient solution for cashless transactions at events.
Challenges we ran into
We faced several challenges during the development process. Firstly, integrating Amazon Lambda functions within a tight timeframe proved difficult as none of our team members had prior experience with them. We also encountered issues with the CLI, which led us to migrate to Supabase.
Another significant challenge was understanding the functioning of a relayer to ensure that users are not charged gas fees for transactions, which we covered on our end to enhance the user experience.
Lastly, we faced intermittent service disruptions with Space and Time, making testing and deployment problematic. Since our transactions depend on Space and Time, there were instances where transactions were not properly registered.
Despite these obstacles, we strived to find solutions and ensure the best possible outcome for our project.
Accomplishments that we're proud of
We take immense pride in our application of Web3 technology to address a pressing real-world problem. Our team successfully developed a robust Minimum Viable Product (MVP), consisting of three interconnected applications, each with a viable and sustainable business model. Collaborating seamlessly, we harnessed the strengths and expertise of each team member, resulting in an exceptional collective effort.
One of our key achievements lies in our thorough market research, where we conducted a comprehensive analysis of existing solutions. This in-depth understanding allowed us to identify the gaps and challenges present in the current landscape, enabling us to design a superior and innovative solution.
Our user-centric design approach sets us apart. We prioritized creating an intuitive and seamless user experience, ensuring that individuals can effortlessly engage with our platform without realizing they are utilizing blockchain technology. This approach not only enhances accessibility but also promotes mainstream adoption of decentralized solutions.
Furthermore, we're proud to have exceeded the capabilities of existing cashless solutions available in the market. Our solution offers enhanced security, efficiency, and transparency, addressing the limitations and shortcomings of traditional payment methods. By leveraging the power of blockchain, we have revolutionized the cashless experience, empowering users with greater control and peace of mind.
Lastly, we achieved a significant milestone by meeting all delivery requirements, successfully delivering on time and within the defined scope. This accomplishment demonstrates our commitment to professionalism, project management, and the pursuit of excellence.
Collectively, these accomplishments serve as a testament to our team's dedication, innovation, and unwavering commitment to creating impactful solutions that shape the future of the cashless economy.
What we learned
During this project, we gained valuable insights and knowledge that have contributed to our personal and professional growth. Here are some key takeaways:
Teamwork: We learned the importance of effective collaboration and teamwork. Working together towards a common goal, we discovered the power of combining diverse skills and perspectives to achieve outstanding results.
Operating under pressure: This project provided us with an opportunity to thrive in high-pressure situations. We honed our ability to stay focused, make quick decisions, and deliver under tight deadlines, demonstrating resilience and adaptability.
New technologies: We embraced emerging technologies such as Chainlink and Space and Time. Through hands-on experience, we deepened our understanding of their capabilities and learned how to leverage them effectively to enhance our solution.
Web3 logic: We delved into the intricacies of Web3 and gained a comprehensive understanding of building applications on the blockchain. This knowledge enabled us to navigate the unique challenges and complexities associated with decentralized platforms.
These invaluable lessons have equipped us with a broader skill set, empowering us to tackle future projects with confidence and innovation.
What's next for Kash
We have ambitious plans to further expand and enhance the Kash ecosystem. Here are our key focus areas:
Building a comprehensive DApp: Our vision is to develop a complete event ecosystem within Kash. This includes integrating features such as ticket purchasing, cashless payments, and a marketplace where users can buy event merchandise. By creating a seamless end-to-end experience, we aim to revolutionize the way people engage with events.
Event merchandise marketplace: We plan to establish a dedicated marketplace within Kash, offering event-related merchandise for users to purchase prior to the event. This feature will provide attendees with the opportunity to access exclusive merchandise and enhance their overall event experience.
Real-world implementation: To validate and refine our MVP, we will pilot it in a small-scale event. By testing our solution in a live event setting, we can gather valuable feedback, identify areas for improvement, and ensure the solution performs optimally in real-world scenarios.
User-to-user token transfers: We intend to enable seamless token transfers between users within the Kash ecosystem. This feature will enhance the flexibility and utility of our platform, allowing users to transfer tokens securely and effortlessly.