M2tec: Open hardware - Realfi swap - Totem 2/3

[GENERAL] Name and surname of main applicant

Maarten Menheere

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

Individual

[GENERAL] Requested funds in ada

197000

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

8

[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)

Totem: Empowering Mass Adoption of Cardano - Your All-in-One Real-World Exchange and Validation Device!

[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

The design and software will follow the MIT License

[METADATA] SDG rating

SDG Goals

1 - End poverty in all its forms everywhere

8 - Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

9 - Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation

SDG Subgoals

1.1 - By 2030, eradicate extreme poverty for all people everywhere, currently measured as people living on less than $1.25 a day

1.a - Ensure significant mobilization of resources from a variety of sources, including through enhanced development cooperation, in order to provide adequate and predictable means for developing countries, in particular least developed countries, to implement programmes and policies to end poverty in all its dimensions

8.10 - Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all

9.3 - Increase the access of small-scale industrial and other enterprises, in particular in developing countries, to financial services, including affordable credit, and their integration into value chains and markets

Key Performance Indicator (KPI)

9.3.2 - Proportion of small-scale industries with a loan or line of credit

1.1.1 - Proportion of the population living below the international poverty line by sex, age, employment status and geographic location (urban/rural)

8.10.2 - Proportion of adults (15 years and older) with an account at a bank or other financial institution or with a mobile-money-service provider

8.10.1 - (a) Number of commercial bank branches per 100,000 adults and (b) number of automated teller machines (ATMs) per 100,000 adults

[SOLUTION] Please describe your proposed solution

Context:

• A significant portion of Cardano's transaction volume occurs within online trading platforms.
• Despite its prominence in digital spaces, Cardano lacks visibility in real-world scenarios.
• Current onboarding processes for Cardano are centralized within a few online platforms.

Scope of the Proposal:

Building upon insights gained from a previous prototype developed during Fund 7, we aim to refine and advance our efforts in a follow-up prototype. Our objective is to facilitate seamless swapping between digital fiat currencies at the local level. This functionality can be achieved through smartphone-operated applications or physical currency notes.

The prototype will serve as an open platform accessible to all participants within the Cardano ecosystem, presenting a particularly compelling opportunity for wallet providers such as Vesper, Eternl and Gamechanger. While existing devices may limit interactions to basic token swapping, our open device architecture will harness the full potential of the Cardano API. This expanded functionality will unlock new user interactions and enable real-world blockchain use cases.

In a future proposal we intend to couple an open marketplace to the device. Together with a reference implementation for wallet providers. This will allow any token and any contract to run.

Technical Implementation:

The unit comprises a lockable metal housing featuring an integrated note validator, with the compact stacking note validator from Innovative Technologies being utilized. Additionally, an NFC reader and a 4-inch touchscreen display are incorporated into the design. These components are seamlessly integrated and controlled by a Raspberry Pi Zero, which serves as the backbone for running the applications.

By leveraging this robust hardware setup, we aim to bridge the gap between the digital and physical worlds, empowering users to seamlessly interact with the Cardano blockchain in real-world scenarios.

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

The project aims to bring about several positive impacts for the wider Cardano community:

1. Increased Adoption: By enabling easy swapping between digital fiat currencies at the local level, the project lowers the barrier of entry for individuals to engage with the Cardano ecosystem. This accessibility can drive broader adoption of Cardano both in digital spaces and in real-world transactions.
2. Diversification of Use Cases: By facilitating real-world blockchain use cases through the integration of Cardano API functionalities, the project expands the scope of applications beyond traditional online trading platforms. This diversification of use cases can attract new users and developers to the Cardano ecosystem.
3. Enhanced Visibility: As Cardano becomes integrated into daily transactions through the swapping of digital fiat currencies locally, its visibility in real-world situations increases. This heightened visibility can lead to greater awareness and recognition of Cardano as a viable blockchain platform.
4. Community Empowerment: The project's open platform approach empowers all participants within the Cardano community to engage with and contribute to the ecosystem. By providing access to innovative tools and technologies, the project fosters a sense of ownership and collaboration among community members.
5. Support for Wallet Providers: The project offers an opportunity for wallet providers like Vesper, Eternl of Gamechanger to integrate with the platform, enhancing their offerings and expanding their user base. This collaboration strengthens the Cardano ecosystem by enriching the services available to users.

Overall, the project's positive impact on the wider Cardano community lies in its ability to drive adoption, diversify use cases, increase visibility, empower community members, and support ecosystem partners.

[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?

Maarten Menheere. He is a design engineer with a masters degree Industrial design at Technical University in Delft. Founder and for 10 years owner of M2tec design and engineering. Has 15 years experience in project management and engineering of payment systems.

M2tec was one of the first to deliver in Fund 5. Completing all set goals of the project within the set delivery schedule. Followed by developement of the Totem v1 in Fund 7 .

Followed Gimbalabs PPBL course and contributed nix related course material. As well as knowledge of the Gamechanger API.

Regular attendee of the Gimbalabs Live Open Spaces. To share an contribute technical knowledge of the Cardano blockchain

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

General planning stage

Time: 1 month

Milestone outputs:

• Detailed structure of components.
• Specification of the API for Note validator, NFC reader.

Acceptance criteria:

• Document in odt format of milestone outputs is complete

Evidence of milestone completion:

• Document is available in project github repository.

Build stage

Time: 1 month

Milestone outputs:

• Design structure of component in 3D CAD software.
• Order components for prototype manufacturing.

Acceptance criteria:

• Design is complete and parts are ordered.

Evidence of milestone completion:

• 3D step file is available in github repository for checking with invoices for ordered parts.

Build stage

Time: 1 month

Milestone outputs:

• Assemble parts
• Evaluate structure and iterate design.

Acceptance criteria:

• All parts fit in the housing and perform basic function.

Evidence of milestone completion:

• Photos and video of the device is available in the github repository.

Build stage

Time: 2 month

Milestone outputs:

• Note reader functions
• Software is installed to control note reader device

Acceptance criteria:

• API calls specified result in appropriate response of note reader device.

Evidence of milestone completion:

• Video of API interaction is available for review in github repository.

Build stage

Time: 2 month

Milestone outputs:

• NFC reader functions
• Software is installed to control note reader device

Acceptance criteria:

• API calls specified result in appropriate response of NFC reader device.

Evidence of milestone completion:

• Video of API interaction is available for review in github repository.

Launch and Close-out

Time: 1 month

Milestone outputs:

• A completed device ready for demonstration.
• Demonstrate device in an exhibition like https://dutchblockchaindays.nl/ or https://www.parisblockchainweek.com/ depending on completion date.
• Prepare and share the final report.

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

Developer & Project manager:

• Maarten Menheere. - Engineer, Project manager, designer and software developer.
• LinkeIn: https://www.linkedin.com/in/maartenmenheere/

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

Personnel cost      

Full-time management  - 15,000   ADA

Hardware design  - 20,000   ADA

Hardware integration - 30,000   ADA

Quality assurance - 10,000   ADA

Technology cost      

Software license cost - 6,000   ADA

Hardware components - 20,000   ADA

Manufacturing cost - 40,000   ADA

Marketing cost      

Design of promotional content - 4,000   ADA

Exhibiton booth cost - 15,000   ADA

Community Workshops/Webinars - 5,000   ADA

Media and PR engagement - 7,000   ADA

Miscellaneous      

Compliance with laws and regulations - 15,000   ADA

Reserved for unforeseen costs or overruns - 10,000   ADA

Total   197,000   ADA

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

Justification of Costs:

1. Personnel Cost ($32,000)

• Because of the low cost basis. This project can be delivered at very competitive rates or even below normal. Cardano is and providing financial freedom is in part a passion project.
• Multidisciplinary skills in hardware design and low-level software engineering. Without requiring sometimes expensive outside expertise.
• Contacts with software development experts in Argentina. With access to low cost software development resources. In case parts of the project need to be completed outside of the M2tec business.

2. Technology Costs ($28,000)

• Parts need to be sourced in Europe. A competitive open market. Where there is a large choice in suppliers. And availability of components is good. This allows for quick turnaround time for product delivery.
• For hardware cost most prices are fixed and there is no way around that. I have taken care through my knowledge of the payment industry to select for the most cost effective ones.

3. Marketing Costs ($13,000)

• A lot of the design work for marketing material can be done in-house. Allowing for room in the budget it would be interesting to show the face of Cardano more outside of the ecosystem venues and meeting places. The intent is to spend most of the marketing budget on this creating maximum exposure

4. Miscellaneous Expenses ($20,000):

• Allocation for legal and compliance ensures that the project adheres to international data protection regulations and blockchain standards, bolstering trust and credibility.
• The inclusion of a contingency fund serves as a prudent measure, providing the flexibility to address unforeseen challenges without jeopardizing project progress or quality standards.