Telegram Bot Wallet
Problem
Telegram is widely used in Ethiopia but there is no way to use ADA through telegram nor even any way to purchase ADA in Ethiopia.
Solution
A telegram bot payment system for quick and low-fee payments for small, everyday items using only Telegram usernames.
Total to date
This is the total amount allocated to Telegram Bot Wallet.
About this idea
General Idea
A telegram bot (Endubis Wallet) payment system for quick and low-fee payments for small, everyday items, and storage of ADA. The proposed Telegram bot will be implemented in Ethiopia to provide better p2p buying and easy trading options.
Telegram in Ethiopia
Telegram is one of the most popular communication platforms in Ethiopia, more than WhatsApp and Viber.
Telegram is the most widely used application in Ethiopia. An open-source telegram bot that can be integrated with existing wallets can quickly be adapted for other markets outside of Ethiopia as well.
Features and Requirements
Our Telegram wallet will allow anyone in Ethiopia to easily hold ADA or exchange ADA to local currency. Users will also be able to purchase cryptocurrency with local fiat money (ETB). Overall, buying cryptocurrency can be confusing for many users in Ethiopia, as none of the buying options work in Ethiopia. With the integration with local banks' telegram bots such as @Amole and @telebirr, users in Ethiopia can become verified to purchase cryptocurrency with their local currency within minutes.
Risks
- Technical Obstacles: Telegram API Performance Limitations
- Industry and Market Risks: upcoming cryptocurrency trading laws in Ethiopia.
Deployment and Marketing
The design of the bot will take approximately 2 weeks and a beta version can be released within 2 months. Initial users will be gathered through promotion in various cryptocurrency Telegram groups and Tech events happening regularly in Addis Ababa. We will expand this through a referral program and various incentives for using their ADA in real-world functions.
Milestones and Reporting
- Analysis and design stage - Week 1
- UI/UX Design - Week 2
- Backend Design - Week 3-4
- Integration with payment platforms - Week 4-5
- Alfa testing - Week 6
- User Registration - Week 7
- P2P trading options - Week 8
- Beta Testing - Week 8-12
- Loans and Credits Options- Weeks 12-15
Budget
Development team: 4000 USD
Marketing: 2000 USD
Licensing and Integration: 1000 USD
MOS and Timeline
3 month: 1000 subscribers
6 month: 100 users using the Loan Function
12 month: 10000 users
Project Launch date: October 1
Beta testing: December 1
Sustainability:
The wallet will sustain itself through the staking and loan features it will offer for ADA holders.
More Detailed Proposal:
https://docs.google.com/document/d/1UbtyVCZPyx66VIhMktg96jEMry5AQNCZghDU66LXUKI/edit?usp=sharing
Team
An entrepreneur with a background in Software engineering.
