NexusPay
Seamless, Stable, Swift, Secure Payments: Revolutionizing African Mobile Money with Blockchain Technology.
Created on 1st December 2023
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NexusPay
Seamless, Stable, Swift, Secure Payments: Revolutionizing African Mobile Money with Blockchain Technology.
The problem NexusPay solves
Nexuspay addresses numerous financial challenges in Africa, enhancing accessibility, safety, and convenience:
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Simplified Crypto Transactions: Nexuspay allows crypto transfers using phone numbers, tapping into mobile money adoption.
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Effortless Merchant Payments: Users pay in local currency, and Nexuspay converts to USDC for merchants, simplifying transactions.
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Swift NFC Payments: NFC technology streamlines payments in supermarkets and for bus fares, reducing delays and disputes.
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Cross-Border Transactions: Nexuspay facilitates cost-effective international transactions, eliminating intermediaries.
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Banking Alternatives: Nexuspay empowers users with self-custody of assets, reducing reliance on traditional banks.
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Inflation Mitigation: Stable coins, particularly USDC, protect assets from local currency inflation.
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Offline Access: USSD and SMS technology enable financial transactions without internet or smartphones.
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Loyalty Token: Nexuspay introduces a loyalty crypto token, incentivizing user engagement and retention.
Nexuspay bridges the gap between existing financial systems and blockchain technology, making financial services more accessible and secure across Africa.
Challenges we ran into
Building Nexuspay using ERC4337 account abstraction technology presented several challenges:
Limited Documentation: ERC4337 is a new and relatively undocumented technology, making it challenging to understand and implement.
Overcoming It: We invested time in research, experimented, and sought guidance from the online community to grasp the technology's nuances.
Resource Constraints: With a small team of two developers, resource limitations were evident in terms of manpower and expertise.
Overcoming It: We maximized our collective skills, used online resources, and focused on core functionalities to optimize our limited resources.
Bug Identification: As expected, we encountered bugs without comprehensive documentation for ERC4337.
Overcoming It: We adopted a systematic bug identification and resolution process, involving thorough testing and community assistance when needed.
Dependency Conflicts: Integrating components and libraries sometimes resulted in dependency conflicts.
Overcoming It: Careful dependency management, version compatibility checks, and seeking community advice helped us resolve conflicts.
Burnout and Stress: The demanding project, coupled with resource limitations, risked burnout and stress.
Overcoming It: We prioritized work-life balance, took breaks, and sought mentorship and peer support to maintain our well-being.
Conflicting Feedback: Ideation and research phases generated conflicting feedback on project direction.
Overcoming It: We evaluated feedback against project goals, stayed true to our vision, and ensured feedback aligned with our core objectives.
Developing Nexuspay with ERC4337 posed challenges due to its newness and resource limitations. However, by systematically tackling issues, seeking community help, and maintaining resilience, we progressed towards revolutionizing financial services in Africa.
Tracks Applied (6)
Web3 Compliance Tools
KoinX
Analytics Tools
DappLooker
User Security Tools
QuillAudits - Web3 Security 🛡️
Blockchain Forensics and Investigations Tools
BlockSec
Code Vulnerability Scanner
BuildBear
Web3 Insurance & Risk Management
Polygon
Technologies used