Paper Wallet Change Receipts - ( We have minimum viable products! )

[GENERAL] Name and surname of main applicant

Pat Serafin

[GENERAL] Email address of main applicant

contact@mintmatrix.io

Additional applicants

N/A

[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?

Yes

[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.” .

Moneta (A Miami-based start-up) will be responsible for integration into their spare-change receipt system application.

[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.”

Open source

• MintMatrix’s system design document
• MintMatrix’s wallet generation scripts.

Proprietary

• Moneta Tech’s point-of-sale application.

[METADATA] Category of Proposal

Wallet

[IMPACT] Please describe your proposed solution.

To summarize the set of problems we’re solving:

• Miami and much of the US has a coin shortage problem

• Much of the world is accustomed to handling and transacting in physical currency

• It is cumbersome to acquire cryptocurrencies – especially increasing so as the SEC attacks centralized exchanges

This is a multi-faceted problem that can be solved with the help of point-of-sale systems. At the point-of-sale, the vendor can digitize the spare change and offer the customer a credit redeemable via a QR code. This technology already exists and has been developed by Moneta Tech. We’re proposing an option where the spare change can be converted into crypto instead of diminutive fiat. In this way, we not only help offramp consumers and preserve storage of value against inflationary controls, but we also do so in a low barrier to entry means where newcomers will have a tangible representation of the cryptocurrency. This is important as in much of the world, coins and physical currencies are still the predominant method of transacting. Additionally, as the continued devaluation of the denomination outpaces the value of the metal underlying within the coins accelerates, the need for this solution will be even more necessary. 

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

This will lower the access barrier to Cardano by offering conversion of fiat change to ADA directly at the point of sale. Additionally, this integrates into an existing product that is conveniently located in point-of-sales systems of vendors.

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

Possible metrics:

• Point-of-sales that have adopted our system
• Quantity and percent of consumers deciding to convert their change to ADA

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

We hope to share our success/failure with the greater community and conclude this project with a formal report write up. After the formal write up, that content can be easily converted into a powerpoint, a medium article, and a thread of tweets. The powerpoint would be presented a Cardano meetup in Miami.

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

We have already completed a considerable amount of development work that shows we’re serious about pursuing this.

Moneta Tech has already developed:

• A point-of-sale app on Clover to send change to a holding account for a user to redeem via QR code

MintMatrix has already developed:

• Wallet generation scripts

• Secure wallet templates

• Prototype paper wallets with scratch off mneumonics (although likely not to be used)

And both of our organizations are located in Miami, so proceeding with integration shouldn’t be too difficult.

Additionally, I’ve participated in the ATALA PRISM Pioneer Program and Plutus Pioneer Program (3rd

Round)

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

Primary Goal: To onboard users into the Cardano ecosystem using an off-ramp at the point of sale.

[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.

- Outline secure process for generating and loading wallets at the point-of-sale with community buy-in (some progress exists)

- Develop process into set of scripts (some progress exists)

- Integrate system into Moneta’s point of sale app

- Onboard vendors at the point-of-sale (Moneta has experience in this)

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

Milestone

• Outline secure process for generating and loading wallets at the point-of-sale with community buy-in (some progress exists)

Deliverable

• Documentation

Milestone

• Develop process into set of scripts (some progress exists)

Deliverable

• Open source code on GitHub

Milestone

• Develop process into set of scripts (some progress exists)

Deliverable

• Open source code on GitHub

Milestone

• Integrate system into Moneta’s point of sale app

Deliverable

• Video demonstration of working product with proofs of transactions

Milestone

• Onboard vendors at the point-of-sale (Moneta has experience in this)

Deliverable

• Documentation of visiting vendors and data of utility

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

15,000 – MintMatrix continued development of Cardano infrastructure

10,000 – Moneta integration of MintMatrix infrastructure

7,500 – Moneta client acquisition

7,500 – Moneta client education

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

The money spent on this project will help drive local communities into the Cardano ecosystem by offering the ability to receive their change in the form of ADA.

[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