Open Banking for DeFi from licensed AISP in Europe (Fizen.com)

[GENERAL] Name and surname of main applicant

Maciej Krasowski

[GENERAL] Email address of main applicant

maciej@fizen.com

Additional applicants

None

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

3

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language.

No

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

No

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.” .

No dependencies

[GENERAL] Will your project’s output/s be fully open source?

No

[GENERAL] If NO, please describe which outputs are not going to be open source. If YES, please write “Project will be fully open source.”

It's a closed system connected to banking infrastructure, licensed and supervised by national banks and supervision authorities. Only ATALA part, middle-man part and mobile wallet will be open sourced.

[METADATA] Category of proposal

Identity Solutions

[METADATA] SDG rating

• SDG 9 (Industry, Innovation, and Infrastructure): The project promotes technological progress and innovation in the mobility sector, enabling the creation of decentralized applications integrating vehicle data with blockchain.

• SDG 11 (Sustainable Cities and Communities): By fostering innovation in the mobility sector, the project indirectly supports the development of sustainable transport systems. 

• SDG 17 (Partnerships for the Goals): The open-source nature of the project encourages collaborations and partnerships among developers, fostering a global technology community.

[IMPACT] Please describe your proposed solution.

FIZEN is a platform of data and payments automation solutions with unified and simple aggregator of banks’ APIs surrounded with “ready-to-use” industry-specific solutions, widgets, and plugins. We're licensed in EU and able to provide technology for:

1. AISP - Account Information Services Provider - safely and securely retrieve customers' account and card information (including balances and transactions)
2. PISP - Payment Initiation Services Provider technology & connector for PISPs - facilitates the initiation of a wide range of payments, incl. transfers, and cross-border payments 

Our experience is our USP

• Experienced entrepreneurs as founders who successfully developed a software agency with 170+ people, on the market since 2014 (binar.com)
• Clients from fintech, lendtech, medtech, insurtech, trading, telecoms
• Team members with knowledge of EU regulations and EU law
• 3 years of custom Open Banking integrations
• Cooperation with banks across Europe
• Cooperation with brave.com, IOG.io, Dash.org, Ethereum Foundation
• 5 years in Blockchain software services 

[IMPACT] How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

We're bringing traditional finances into ATALA with ease. Thanks to Open Banking and Open Finance, every person, who has banking account, can use it to prove himself when needed. Eg. KYC or proof of age - just use banking data and that's it - we're taking your data, create DID and you're verified. You own your data, nobody else, even us, stores it.

[IMPACT] How do you intend to measure the success of your project?

• usage level - the more people trust us, the better it is for the project

[IMPACT] Please describe your plans to share the outputs and results of your project?

The future of crypto and DeFi space is under regulations. We want to face this upfront and create solutions that care about privacy and ownership.

Thanks to our solution, we can bring you real life data into you DeFi existence with no middleman. You're going to be the owner of it thanks to ATALA. Then you can use this whenever you want and you're asked for it.

[CAPABILITY/ FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability?

• Maciej Krasowski (founder of Fizen.com, Byron Network and Binar.com) is a Polish Blockchain Association Founding Member, Fintech Central Poland creator and fintech + blockchain enthusiast for 5 years now. Working closely with two communities: Cardano and Dash
• Fizen is licensed entity in EU regulations - AISP no. 13 in Polish Supervision Authority
• Byron Network is a Plutus Pioneers Program Attendee (2021-2022), creator of www.bynet.io protocol, Bynet Wallet, Order Book Pattern DEX (Bynet Dex)
• Byron Network works with IOG as an outsourced vendor - team of developers helping to build projects. We work on projects like Sidechains and VVA (Voltaire Voting App)
• BinarApps (Byron Network mother company) is 150 developers with 10 years of experience in software development

Process

• scrum/kanban with Jira software
• CI/CD on Github
• PRs on github
• direct contact with the team on slack / TG / github

[CAPABILITY/ FEASIBILITY] What are the main goals for the project and how will you validate if your approach is feasible?

1. Create an access for Cardano DeFi projects to connect to Open Banking through Fizen.
2. AIS - Account Information Services - thanks to this integration, DeFi project can check their client / user with highest security
3. PIS - Payment Initiation Services - this integration allows DeFi projects to gather FIAT payment as A2A (Account2Account) payment - no additional charges (eg. 2% from Mastercard / Visa).
4. Create Verifier and Issuer ecosystem for ATALA DIDs
5. Initiate Fizen ID mobile application - thanks to Bynet Wallet (open sourced through this proposal)

[CAPABILITY/ FEASIBILITY] Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.

Milestone 1

1. Create an access for Cardano DeFi projects to connect to Open Banking through Fizen.
2. AIS - Account Information Services - thanks to this integration, DeFi project can check their client / user with highest security
3. PIS - Payment Initiation Services - this integration allows DeFi projects to gather FIAT payment as A2A (Account2Account) payment - no additional charges (eg. 2% from Mastercard / Visa).

Milestone 2

1. Create Verifier and Issuer ecosystem for ATALA DIDs

Milestone 3

1. Initiate Fizen ID mobile application - thanks to Bynet Wallet (open sourced through this proposal)

[CAPABILITY/ FEASIBILITY] Please describe the deliverables, outputs and intended outcomes of each milestone.

Milestone 1

• API access to all banks connected to Fizen (the list still growing)

Milestone 2

• ATALA verifying and issuing API access

Milestone 3

• open source wallet code with ATALA and Fizen integrated in

[RESOURCES & VALUE FOR MONEY] Please provide a detailed budget breakdown of the proposed work and resources.

• 2 backend devs per month: 14k USD
• 1 Haskell dev: 6k USD
• 1 devops per month: 5k USD
• 1 PM per month: 3k USD

Total: 3 months

[RESOURCES & VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

Team members are the majority of the cost. The rest are servers and design.

Each team member is hired in Fizen.com or in BinarApps (both companies working together). Their cost contains company's margin.

[IMPORTANT NOTE] The Applicant agreed to Fund10 rules and also that data in the Submission Form and other data provided by the project team during the course of the project will be publicly available.

I Accept