Inspiration
There are traditional banks which are very slow and outdated. And then there are DeFi protocols which can't be used for mainstream applications. So the idea is to create a Next Gen NeoBank that is a combination of both worlds and would solve real life problems.
What it does
These are few points that I documented after doing my research.
Onboarding in Neobanks should be minimal and smooth Have prompt 24*7 support which is not available in traditional banks User must be able to see where his funds were used. We can provide a categorisation model that would bifurcate all the spends as per categories. We need to provide a facility where users can link their traditional bank accounts in El Salvador and get equivalent money to spend in BTC. We will provide a feature to automatically stake unused funds and unstake them when required. Provide a feature to invest in BTC in daily, weekly and monthly SIP (As it’s one of the best ways to create wealth instead od FD) Have a feature to borrow and loan as in DeFi Last but not least, have a great UI UX
How we built it
I participated late in hackathon so couldn't create a working prototype, but the ideation process was done with great research.
What's next for Next gen NeoBank
If we get one month of time we could bring this to life, all we need is one month as the requirement sheet is long, and it wouldn't be good enough if we don't have all the features in place.
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