The problem Split Smart solves

Splitwise is a popular mobile and web application that simplifies the process of managing shared expenses and settling debts among friends, family, or roommates. It offers several features that make existing financial tasks easier and more convenient:

Expense Tracking: Users can easily log and categorize expenses, making it simple to keep a record of shared costs, such as rent, utilities, groceries, or dining out.

Simplified Splitting: Splitwise allows users to split expenses unevenly, which is helpful when not all parties are contributing equally. You can split expenses equally, by percentage, or by a specific amount.

Group Expenses: It's especially useful for group trips, outings, or living situations. It helps in keeping track of who owes money to whom and for what.

IOUs and Balances: The app calculates and maintains balances, so users can see at a glance who owes money to whom. This eliminates the need for constant mental calculations or manual records.

Reminders: Splitwise can send reminders to individuals who owe money, reducing awkward conversations about settling debts.

Integration with Payment Services: It integrates with popular payment platforms like PayPal and Venmo, allowing users to settle debts directly through the app.

Multi-Currency Support: For international travelers or friends with different currencies, Splitwise supports multiple currencies and handles currency conversions automatically.

Bill Splitting: The app can split restaurant bills, utility bills, or any shared expense easily, which simplifies the process of sharing costs after group activities.

Challenges I ran into

Challenge: Handling Real-time Updates and Data Synchronization

Solution: One of the challenges in building a project like Splitwise is ensuring that all users have access to real-time updates of expenses and balances, especially in a multi-user environment. This challenge typically involves dealing with data synchronization and ensuring that all users have consistent and up-to-date information.

Conflict Resolution: In cases where multiple users attempt to update the same expense or balance simultaneously, conflict resolution strategies need to be in place. Developers can implement conflict resolution algorithms to determine how conflicting changes are handled. This might involve timestamp-based conflict resolution or user-friendly prompts to users to manually resolve conflicts.

Data Consistency: Developers need to ensure data consistency across various devices and platforms (e.g., web, iOS, Android). This can be achieved through a robust backend architecture, employing databases and synchronization mechanisms to maintain a single source of truth.

Testing: Rigorous testing, including stress testing, can help identify issues related to data synchronization. Automated tests can simulate various scenarios to ensure that real-time updates work as expected.

Monitoring and Error Handling: Implementing robust monitoring and error-handling systems can help identify issues in real-time synchronization. Developers can set up alerts for anomalies and errors, enabling quick responses to issues as they arise.