ZKrail: The Ultimate UPI-Crypto Payment Protocol

🌐 What is ZKrail?

Make any fiat payment with crypto - a revolutionary protocol enabling smart contracts and AI agents to programmatically send money through traditional payment systems.

🔑 Key Innovation

No bank accounts, no KYC, no centralized bridges - just pure, programmable financial infrastructure.

💡 How It Works

Payment Flow

1. Taker: Submits payment details

   • UPI QR code
   • Bank account information
   • Proof specification to network

2. Intent Solver Network

   • Bidding period
   • Lowest bid wins competitive execution

3. Transaction Mechanism

   • Taker locks tokens in secure vault
   • Solver executes fiat payment
   • Zero-knowledge proofs verify transaction integrity

Verification Process

• Leverages existing bank API frameworks:
  • Account Aggregator (AA) in India
  • PSD2 in European Union
  • Plaid in United States
• ZK proofs validate payment occurrence
• Vault confirms proof and releases funds

🛡️ Economic Security Model

Stake-Based Protection

• Taker locks 150% of payment amount
• Solver stakes funds upfront
• Fraud prevention through economic incentives:
  • If taker frauds: Solver proves payment, receives entire locked amount
  • If solver fails: Loses stake, taker receives stake + locked tokens

🚀 Diverse Use Cases

• Systematic crypto withdrawals
• AI agents executing real-world payments
• Cross-border invoice settlements
• Privacy-preserving fiat bridges
• Programmable bank payment contracts

🔍 Potential Limitations

• Payment proof availability varies by financial rail
• Requires solver network liquidity

🌟 Mitigation Strategies

• Dynamic economic security mechanisms
• Stake-slash protocols
• Liquidity incentive structures

💎 Core Philosophy

ZKrail is the *universal fiat primitive

Time Management: Due to the project complexity we had to manage our time well to complete it in the time period