Why are you participating for Based India?

As an emerging blockchain developer with a strong passion for decentralized technologies, participating in Base India provides an incredible opportunity to contribute to India's growing Web3 ecosystem. India has become a hub of innovation in the blockchain space, and I want to be a part of this transformation. The region’s rapid adoption of cutting-edge tech, along with its thriving developer community, motivates me to showcase my skills and build impactful solutions.

Being connected to India through my education and background, I see immense potential in applying blockchain solutions to real-world problems, especially in finance, governance, and e-commerce. Base India gives me a platform to collaborate, learn, and contribute to this dynamic landscape while pushing the boundaries of decentralized technology.

What challenges are you focusing on?

Through Base, I'm addressing key challenges in trust, security, and transparency within financial transactions in my community. Traditional escrow systems in industries like freelancing, e-commerce, and real estate often involve high fees, delays, and reliance on intermediaries, which can lead to trust issues.

By building decentralized solutions like the AI-powered escrow system, I aim to:

Eliminate intermediaries: Provide a trustless platform that reduces costs and increases efficiency.
Enhance transparency: Ensure that transactions are secure and transparent through smart contracts on the blockchain.
Streamline dispute resolution: Leverage AI to assist in fair and unbiased dispute resolution, especially in communities where legal frameworks are slower or inaccessible.
With the help of Base, I'm creating tools that empower individuals and businesses to engage in secure, cost-effective transactions, fostering greater trust and adoption of decentralized technologies.

How does your submission address this challenge?

My submission, the AI-Powered Decentralized Escrow System, directly tackles the challenges of trust, transparency, and efficiency in financial transactions. By utilizing the Polygon blockchain, the system allows two parties (Payer and Payee) to engage in secure, trustless transactions where funds are held in a smart contract escrow until all conditions are met.

Key impacts include:

Trustless Environment: The decentralized nature of the system eliminates the need for intermediaries, reducing costs and preventing potential fraud.
Transparent Transactions: All transactions are recorded on the blockchain, ensuring transparency and immutability, making it easy for users to track and verify the flow of funds.
Efficient Dispute Resolution: In case of disputes, the AI-powered Arbiter provides fair and impartial suggestions for resolution, helping to solve conflicts faster and more efficiently.
Global Reach: By building on Polygon, the system offers low-cost, fast transactions that can be accessed by users globally, particularly benefiting communities where access to reliable legal and financial systems is limited.
This project not only addresses the technical challenges of secure payments but also has the potential to increase financial inclusion and security for individuals and businesses.

Challenges we ran into

One of the major technical hurdles was integrating the AI-powered dispute resolution with the blockchain-based escrow smart contract. It was crucial to ensure that the interaction between on-chain data and the off-chain AI model was seamless and secure. To overcome this, we built a secure API to allow the smart contract to query the AI model hosted on a Flask server, without compromising the decentralized nature of the project.

Another challenge was optimizing gas fees on Polygon. Handling disputes and escrow transactions involves multiple contract interactions, so we worked on optimizing the smart contract code to reduce gas costs. Through rigorous testing using Foundry and constant optimizations, we were able to lower transaction costs while maintaining functionality.

We also faced a learning curve when working with advanced blockchain tools like Wagmi and Viem for frontend smart contract interaction. With practice, thorough research, and community support, we were able to successfully integrate these tools, making the front-end user experience smooth and reliable.

Additional Features

It was fully built during buildathon