Bitlend

Going for the Socio-Economic Inclusion and Open Tracks.

Inspiration

Imagine giving a $50 donation to the charity you discovered online. There's a certain opaqueness to much online donations and lending done today. You don't know if that $50 is actually going to the cause, or maybe $10 is going to a golf trip, $10 to the executives, and then the remainder to the company.

With Bitlend, there are no middle-men, low or near zero transaction fees, near instant or same day transfers, and the money goes directly to the causes and companies you care about without regard to geography.

More than 1.7 billion people around the world are unbanked and can’t access the financial services they need. Bitlend aims to address this by allowing charitable lenders with tools to get resources to those that need them the most and maximize the impact of a loan by automatically relending funds once they are repaid. With crowd sourced micro-loans, students can pay for tuition, women can start businesses, farmers are able to invest in equipment and families can afford needed emergency care. With all transactions taking place on the blockchain, lenders benefit from increased accountability and borrowers can establish credit.

What it does

  • This TV app enables discovery of companies and individuals needing support.
  • Each business uploads their cryptocurrency address (currently bitcoin, but nearly any cryptocurrency that enables wallet transfers for mobile could work in the future).
  • From each company's page, you can scan a QR code which will take you directly to checkout to complete payment from your mobile device. No need to enter credentials on the television set; the television could be positioned in a public space and still enable secure payments.
  • When you loan, the loan goes right to the individual or company with a blockchain transaction proving receipt.

How we built it

  • Uses FireTV android framework as the core app driver
  • Integrates with mobile wallets to be able to seamlessly go from TV to secure device wallet to complete the transaction.
  • Companies and individual user pages (with payment addresses) preconfigured. New users could be added on request.

App built and run on any FireTV (Android based) device or emulator.

Challenges we ran into

  • Integrating cryptocurrency transactions securely on a TV interface. Ultimately we ended up adding dynamically generated QR codes to the app to enable any number of people to share the same TV, and submit payments to the causes they care about from their mobile device.

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