The problem EazyPay solves

Processing payroll is a highly complex activity as individuals have different rules depending on their salary structure. This becomes further complex while processing payments to freelancers for the hours of their work based on the delivery committed. Traceability of work done, payment terms agreed, rates of different freelancers are very complex for organizations to maintain. After the payments are made, post the above complexities, the employees and freelancers face difficulties in reconciling the received payments, remitting the payment to their families, and tracking the history of these transactions.

Our project EazyPay aims to target the use of blockchain to enable smart contracts between companies and employees/freelancers. The smart contracts will have exact terms of the engagement like monthly pay or hourly pay, the deduction for leaves, duration of the contract, the penalty for delay, etc. The smart contract will be mutually accepted by the employer and the employee/freelancer before starting the engagement. The smart contract will automatically perform complex calculations & disburse the relevant ethers to the emp/freelancer after the completion of the contract. The emp/freelancer can track their account balance and also invite friends/family on the platform to transfer the tokens instantly to their family members without any delay.

The platform thus helps everyone in the ecosystem with greater accuracy, faster speed of transaction, and complete transparency of each transaction.

Challenges we ran into

One major challenge we faced was about thinking about a problem that society faces in real life and propose a solution to the problem in order to make life easy for all.
We also faced a couple of problems while brainstorming about what exactly we need to incorporate in our project in order to reach a good, effective and practical solution within the duration of the hackathon itself.
Another challenge we faced was on how to carefully divide the work among ourselves so that we optimize our performance in order to build the project witing the time duration of the hackathon.
We faced some little problems while debugging our project when some functionality of our project was not working up to our expectations. An excitement to incorporate more & more useful changes in our project also put us with some challenges.