The problem Monies solves

It's cumbersome to send money overseas. The banking and remittances systems take a couple of days and charge anywhere from 6 to 12% in transfer fees. Monies allows folks that are not tech-savvy to send and receive stable funds in a straightforward and easy way.

Challenges we ran into

Our idea was to have user do one transaction for Pay with any token, our smart contract would ideally create a MakerDAO CDP, issue $DAI and then use the same DAI to complete the payment using the SendWyre API but as it isn't available in India, we wrote our contract to support ETH for proof of concept.

It is our first time working in the blockchain ecosystem and connecting our contract with the Android application using the web3j wrapper was such a pain.