B1- project 001

B1- project 001

Bypassing the boundaries of payments

The problem B1- project 001 solves

A virtual address-based wallet to address the easy onboarding of fiat payment users to crypto payments. The wallet inherits the properties of crypto wallets and extends its functionality to accept country-based fiat payments such as UPI which enhances the efficiency of DeFi and the onboarding of users. This wallet works with a drop widget for signing payments using encryption and open APIs to extend the functionality and open the space for integrations. The wallet can be communicated with internally built WhatsApp and telegram bots.
**How is B1 different!!!
We hear at B1 work on making the payment process simple and quick. Users do not need to use multiple p2p platforms, wallets, or exchanges all the functionalities are embedded into B1 using web3 and UPI. B1 bypasses boundaries between users on web3 and web2 space to make payments. The remitter and beneficiary can use both wallet and UPI but they will have to set up primary debiting and crediting accounts which will enable B1 to opt to flow transactions from crypto wallet to UPI or vice-versa. This flexibility to just choose the method, B1 makes the magic for you. Can process crypto wallet to crypto wallet, crypto wallet to UPI, Upi to crypto wallet, UPI to UPI
-Can be directly integrated with any PA/PGs which extends the boundaries of payments to crypto payments on any webpages.
The transactions are indexed to Graph, which helps the community to build and utilize the data.
The wallet has utilization through APIs like authenticate, transfer, request, request QR code, and check status. These APIs will be available for application in testing and working on production in the B1 environment. The Remitter or the payer can login and add configurations to his IDs on the B1 webpage. The webpage consists of a config setup for bot's permissions, set limits, set default accounts, and other functionalities. These help users from any background easily understand and make their configurations as per the requirement.

Challenges we ran into

  • Setup fund transfers between mediums.
  • Utilizing cryptographic methods for security on the application.