The problem InstaCredit solves

In the rapidly evolving landscape of Web3, we encounter critical challenges that hinder the broader adoption of cryptocurrency in day-to-day transactions. The primary roadblocks include the absence of a robust payment infrastructure, resulting in a dearth of users in the Web3 payment ecosystem. This void contributes to missed market opportunities exceeding $100 billion and a lack of real-world applications for cryptocurrency.

One glaring gap lies in the limited avenues for merchants to directly accept cryptocurrency as a means of payment for their goods and services. This limitation not only restrains the potential of digital currencies but also impedes the realization of a seamless, decentralized financial ecosystem.

To address these challenges, we propose the integration of a revolutionary Buy Now, Pay Later (BNPL) mechanism. This innovative feature empowers users to make purchases, both in the physical realm and the blockchain space, providing an extra layer of liquidity, especially crucial during credit crunch situations. The success of BNPL in traditional markets underscores its potential to enhance transaction volumes and revenue for merchants.

In our quest to overcome these challenges, we've strategically aligned with three essential partners: Liquidity Providers, crucial for offering credit lines; Users, the driving force behind the Instacredit feature; and Merchants or Partners, collaborative entities facilitating a diverse range of product and service purchases.

Together, we aim to bridge the existing gaps, ushering in a new era where cryptocurrency seamlessly integrates into everyday transactions, unlocking unprecedented possibilities for users, merchants, and the broader Web3 ecosystem. 🌐💳🚀

Challenges we ran into

Embarking on the development journey, we were met with a myriad of challenges that tested our skills and perseverance. Among the significant hurdles, the verification of users' KYC and CIBIL scores stood out. This intricate process demanded not only technical finesse but also a keen understanding of legal and regulatory frameworks.

The integration of third-party services to fetch CIBIL scores based on users' PAN cards added another layer of complexity. Navigating through the intricacies of external APIs, ensuring data security, and maintaining compliance required a strategic and meticulous approach.

The ambitious goal of implementing multi-chain functionalities for repayments presented a formidable challenge. Enabling users to choose their preferred blockchain for transactions involved a deep dive into the nuances of various blockchain protocols. Ensuring interoperability and a seamless user experience across different chains required innovative solutions.

Flutter, being a relatively new framework for me, posed its own challenges. Overcoming the learning curve and mastering the intricacies of Flutter's architecture and widgets demanded dedicated effort and a commitment to excellence.

The iterative nature of development meant that challenges were not isolated incidents but ongoing opportunities for growth. Each roadblock became a stepping stone, and each solution strengthened our project. The collaborative spirit within the team played a crucial role in surmounting these challenges.

In conclusion, the journey was marked by tenacity, adaptability, and a commitment to delivering a project that not only meets but exceeds expectations. As we navigated through these challenges, we not only gained valuable technical insights but also honed our problem-solving skills. The result is not just a project but a testament to our ability to overcome obstacles and create impactful solutions