Inspiration
As international students, we face lots of fees and taxes while making big international payments. Also, we feel insecure when making payments to people we don't know if we can trust
What it does
It uses a escrow using stablecoin cryptocurrency to send money that is held until the agreed terms of the deal are accepted, otherwise allowing the money to be refunded. Also it allows the user to rate the other side of the transaction, building a trust and fraud score that can be checked by the users and by our fraud detection ai.
How we built it
React, typescript. The ready-to-be-used escrow and blockchain were done using python and solidity.
Challenges we ran into
In order to fully use the blockchain and escrow capacities, we needed to set up the whole metamask crypto wallet adress and virtual enviroment for digital coins exchange, something we had trouble with. Also calling gemini api to make the fraud check proved to be a hard challenge.
What's next for Vault Pay
for launch: -> Finish the escrow and blockchain use -> Finish the api ai fraud check -> Allow it to be used as an alternative for international payment: What about paying your tuition without taxes or fees?
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