ADA Processing – Easy-to-go ADA payment processing solution for marketplaces, online stores, and other digital platforms.

[GENERAL] Name and surname of main applicant

Eugen Yushkevich

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Not Incorporated)

[GENERAL] Co-proposers and additional applicants

Alex Kobylinsky (Tech lead)

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

10

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

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

Our solution facilitates seamless cryptocurrency transactions on the Cardano, ensuring security, compliance, and stability. We believe crypto processing should be as easy as traditional banking.

[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] Please provide here more information on the open source status of your project outputs

We will build it as a not open source because we would like to have the following:

1. Competitive Advantage: Keeping the solution proprietary can provide a competitive edge in the market. Our solution can differentiate itself and attract customers by offering unique features or services that are not readily available in open-source alternatives.
2. Monetization Opportunities: Operating as a business, our solution allows us to pick various monetization strategies, such as subscription models, transaction fees, or licensing agreements. This can help generate revenue to sustain and grow the solution and provide ADA expansion globally.
3. Control Over Development and Roadmap: Operating as a not open source provides greater control over the development roadmap and direction of the solution. This allows us to prioritize features, respond to market demands, and adapt to changes in the competitive landscape more flexibly.
4. Support and Services: We can provide dedicated support, training, and customization services to customers. This enhances the overall customer experience and can be a significant value-add for businesses seeking reliable and comprehensive solutions.
5. As part of our future plans and further stages, we could consider developing a specific feature or aspect of the solution to be partially open source.

[METADATA] SDG rating

–

[SOLUTION] Please describe your proposed solution

Our solution provides a user-friendly interface for ADA transactions, including a time-sensitive purchase process, robust validation, and automatic fiat conversion triggers. The main problem that this project aims to solve is the complexity and uncertainty surrounding cryptocurrency transactions, particularly within the Cardano ecosystem. Despite the growing popularity of cryptocurrencies, users often face challenges such as:

• Lack of user-friendly platforms for conducting transactions.
• Concerns about regulatory compliance, especially regarding identification and traceability of transactions.
• Volatility in cryptocurrency prices leads to potential financial risks for both buyers and sellers.

According to market research, more and more people would like to have the possibility to pay with crypto. Similarly, more and more businesses are exploring Web3 and crypto but have concerns about crypto volatility and the unexplored space of crypto payments. We aim to build a bridge between these two sides and mitigate all risks. Our solution aims to seamlessly integrate Cardano transactions into everyday user life while addressing regulatory compliance and market volatility concerns. We believe that crypto processing should be as easy and seamless as traditional banking. If you would like to buy a cup of coffee with Cardano, there shouldn’t be any obstacles.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

By providing a streamlined payment solution with features like time-sensitive transactions, robust validation, and automatic fiat conversion triggers, this project seeks to address these issues and enhance the overall user experience within the Cardano community.

Our solution can have several positive impacts on the Cardano ecosystem, including:

1. Increased Number of Transactions: By providing a user-friendly and reliable payment solution, the business can encourage more individuals and businesses to transact using Cardano (ADA). This can contribute to the growth of the Cardano network by increasing the overall transaction volume, thereby enhancing network activity and liquidity.
2. The usage and adoption of stablecoins on ADA would enable more people to store money with it and spend more, consequently increasing the number of transactions.
3. Popularization of Cardano as a Payment Option: Offering a streamlined payment solution that supports ADA transactions can help popularize Cardano as a viable payment option for everyday transactions. As more merchants and users adopt Cardano for payments, it strengthens the ecosystem and fosters wider acceptance and recognition of ADA as a digital currency.
4. Enhanced Utility and Value of ADA: Increased usage of ADA for real-world transactions enhances its utility beyond speculative trading, thereby adding intrinsic value to the cryptocurrency. As ADA becomes more widely accepted as a means of payment, it may attract more investors and users, further bolstering its value and market adoption.
5. Community Engagement and Growth: A user-friendly payment solution can attract new users to the Cardano community, fostering engagement and participation. This can lead to a more vibrant and diverse ecosystem with active users contributing to the network's development, governance, and overall success.
6. Economic Empowerment: Providing businesses and individuals with access to efficient payment solutions on the Cardano blockchain can empower them economically, particularly in regions with limited access to traditional banking services. This can facilitate financial inclusion and empower individuals to participate more fully in the global economy.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

We possess the necessary expertise in cryptocurrency transactions and compliance to deliver the project successfully. Feasibility will be validated through rigorous testing and user feedback.

Our capability to deliver this cryptocurrency payment solution stems from my extensive experience in product management, innovation, and team leadership. With over 15 years in the field, I've led projects generating over $500M in annual recurring revenue and launched innovative digital products across various industries. This expertise positions us to navigate the complexities of implementing a cryptocurrency payment solution effectively. We're committed to driving revenue growth, optimizing operations, and leveraging emerging technologies to enhance the Cardano ecosystem. Our hands-on leadership style and dedication to transparency ensure accountability and alignment with community needs. We're excited to collaborate with the Cardano community to drive economic empowerment and innovation through this project.

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

Prototype Design: Create a simple design to visualize the product. (functional + non-functional requirements, architecture, visuals for UX/UX)

Development Start: Begin building the working prototype.

Testing and Feedback: Get user feedback on the prototype.

MVP Development: Build the core features of the product.

Controlled Availability launch: Soft launch of payment solution with selected partners over the globe.

Further development for Major release and Global Availability launch: Collect and process feedback on the CA stage, polish the product, and prepare for the complete release.

[RESOURCES] Who is in the project team and what are their roles?

Eugen Yushkevich (Product Head, Growth Head) – The executive boasts over 15 years of experience in product management, innovation, and team leadership across global markets. With a diverse background spanning blockchain, healthcare, and telecommunications, they have spearheaded the development and launch of numerous pioneering digital products. Their strategic acumen and hands-on leadership style have always driven significant revenue growth and operational optimization. Their dedication to driving innovation has positioned them as a trusted leader in their field.

Alex Kobylinsky (Tech Lead) – With 11 years of programming experience, he is a skilled full-stack developer specializing in front-end and Java back-end technologies. He has successfully led teams in one of Europe's largest e-commerce projects and currently serves as a technical lead on a cutting-edge Web3 multimedia platform. His expertise spans optimizing data algorithms in Oracle and leading innovative tech initiatives.

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

Budget splitting is approximate and subject to change:

• Development Costs: 60,000 ADA
• Compliance Costs: 20,000 ADA
• Testing & Deployment: 20,000 ADA

This ambitious project requires significant resources and collaboration with partners.

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

The project's cost represents excellent value for Cardano:

• Addresses critical needs, enhancing user experience and driving economic activity.
• Offers long-term benefits, attracting users and businesses to the network.
• Sets Cardano apart, providing a competitive edge in the market.
• Has revenue-generating potential through fees and partnerships.
• Demonstrates commitment to community success, fostering trust and engagement.