Send tokens to phone number (API, onchain, offchain)

[GENERAL] Name and surname of main applicant

Maciej Krasowski

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

Entity (Incorporated)

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

This product enables users to send cryptocurrency directly to mobile phone numbers, streamlining transactions by integrating blockchain with familiar contact lists.

[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?

Yes

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

It will be open sourced on Bynet.io github account: https://github.com/bynetio

[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.

[SOLUTION] Please describe your proposed solution

What do we want to repair?

1. Complexity of Cryptocurrency Addresses: Traditional blockchain transactions require users to deal with long, complex wallet addresses. This complexity can be intimidating and error-prone, especially for less tech-savvy users. By allowing tokens to be sent to a mobile number, this feature simplifies the transaction process, making it as easy as sending a text message.
2. Barriers to Cryptocurrency Adoption: The perceived technical barriers of using cryptocurrencies often deter people from engaging with them. Simplifying the process to something familiar, like using phone contacts, lowers these barriers, making cryptocurrency more accessible and appealing to a broader audience.
3. Speed and Convenience: Current methods of sending cryptocurrencies can be slow and cumbersome, involving multiple steps to ensure address accuracy and security. Integrating token transfer with mobile numbers streamlines this process, significantly enhancing the speed and user experience.
4. Social Integration and Usability: Many users are accustomed to mobile banking apps that allow easy transfers to contacts. By mirroring this functionality, the feature integrates social and usability aspects into the crypto space, fostering greater community interaction and transaction ease.

Our solution:

1. Verification and Security: To maintain security and prevent fraud, the system includes verification steps for linking new wallets to phone numbers. This might involve SMS verification or other secure methods to ensure that the wallet is controlled by the correct individual.
2. Integration with Mobile Contacts: The system accesses the user’s mobile contact list (with permission) to allow token sending functionality directly to phone numbers linked to a blockchain wallet.

Benefits:

1. Simplicity and Usability: By using something as familiar as a phone number, this feature significantly lowers the barrier to entry for using blockchain technology. It makes sending and receiving tokens straightforward for non-technical users.
2. Increased Adoption: This approach can lead to broader adoption of your payment network as users who may have been intimidated by the complexity of traditional blockchain transactions find it easier to engage.
3. Enhanced Network Effects: As more people use the system to send tokens to phone contacts, the overall value and utility of your network increase, benefiting all users.
4. Improved Transaction Speed and Convenience: Transactions can be conducted quickly and conveniently, leveraging the ubiquitous nature of mobile phones.

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

1. Enhancing Accessibility: Makes it easier for everyday users to engage with Cardano, promoting broader adoption of ADA and other tokens on the platform.
2. Increasing Transactions: Likely to boost the number of transactions on the Cardano network as it simplifies the process, enhancing network vitality and token liquidity.
3. Improving User Experience: Offers a more user-friendly way to conduct transactions, improving satisfaction and trust within the Cardano ecosystem.
4. Driving Technological Innovation: Sets a precedent for innovative solutions within the blockchain space, potentially attracting more developers and projects to Cardano.

[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?

• 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. 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 platform, Bynet Wallet, Order Book Pattern DEX (Bynet Dex)
• Byron Network works with IOG and Intersect 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

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

1. Software development
2. Integration with sms provider
3. Open source the project
4. Tests

creation in progress

creation in progress

creation in progress

creation in progress

creation in progress

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

This project will be handled by three companies (all connected by their founder - Maciej Krasowski):

1. www.byron.network (DeFi ecosystem on Cardano, IOG and Intersect trusted Vendor)
2. www.fizen.com (licensed Open Banking and Open Finance in Europe)
3. www.binar.com (150 people software development agency)

• Owner: Maciej Krasowski
• Devs: to be added from Binar.com software dev agency

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

to be defined precisely

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

to be defined