The problem RideFi solves

RideFi is a blockchain-powered travel platform designed to provide a seamless and secure travel experience. With blockchain working behind the scenes, users enjoy frictionless entry and exit processes across transportation systems, starting with metro stations. The system uses smart contracts to ensure transparency and fairness in travel payments.

How It Works:

1.Tap to Enter:

• Users scan their mobile QR code at the entry point.
• Blockchain records the start of their journey securely and transparently.

2.Travel Seamlessly:

• No need for physical tickets or manual payments during the journey.
• Blockchain ensures immutable and secure travel data.

3.Exit with a Tap:

• At the exit point, the system calculates the distance traveled using the entry and exit data.
• Payment is automatically deducted from the user's blockchain wallet.

4.One-Tap Experience:

• Users only scan once at entry and once at exit. Payments and records are fully automated.

Core Features

1.Blockchain-Enabled Payments:

• All transactions are powered by decentralized finance (DeFi), ensuring transparency, security, and no reliance on intermediaries.

2.Smart Contract Automation:

• Journey details and fare calculations are handled by smart contracts, eliminating human error.

3.Scalability to Other Transport Modes:

• Future integrations with buses, taxis, and other modes of transport to create a unified travel platform.

Future Vision

-Universal Travel Platform:

• Expand RideFi to encompass all forms of transportation, from metro systems to ride-sharing services, making it the one-stop travel solution.

-Global Adoption:

• Enable cross-border travel with blockchain wallets, simplifying international commuting.

-AI Integration:

• Predictive fare estimations, route recommendations, and personalized travel insights.

Challenges we ran into

Challenges We Ran Into

1. invokeContract Functionality

• Problem: Issues arose while invoking smart contracts, especially when dealing with complex contract methods and ensuring the correct parameters.
• Solution:
  • Implemented robust parameter validation and fallback mechanisms to handle edge cases.
  • Used tools like CDP SDK for better contract interaction and debugging.

2. Contract Verification

• Problem: Verifying deployed contracts on the blockchain proved challenging due to mismatched bytecode or incorrect configuration.
• Solution:
  • Automated the verification process using scripts to ensure consistent deployment parameters.
  • Leveraged blockchain explorers (e.g., Base Sepholia) for thorough contract checks post-deployment.

Additional Features

User Benefits

1.Convenience:

• No need for cash, physical tickets, or cards.
• A fully digital experience with blockchain handling payments.

2.Transparency:

• Users can view how payments are calculated via blockchain records.
• No hidden charges.

3.Security:

• Blockchain ensures tamper-proof travel data and wallet security.

Technical Highlights

1.Blockchain Infrastructure:

• Built on Base Sepholia for scalability, low gas fees, and security.
• Smart contracts manage entry, exit, and fare calculations.

2.QR Code Integration:

• Fast and secure scanning using dynamic QR codes to prevent fraud.

3.Wallet Integration:

• Users can top up their blockchain wallet directly from fiat currency.

4.APIs for Transport Systems:

• RideFi integrates seamlessly with existing metro and transport infrastructure through APIs.

RideFi in Action

Scenario:

• Alice scans her QR code at the metro entry gate.
• Blockchain records her entry timestamp and station.
• She exits at her destination station, and RideFi calculates the fare.
• Payment is deducted from her wallet instantly, and Alice views her updated balance in the app.

Result:

Alice experiences a seamless, cashless, and ticketless journey.