Daily Wallet is seeking an initial grant of 6,000 USD to support the development of a payments app that aims to make money more open and empower Venezuelans who are enduring an economic hyperinflation crisis. We use metatransactions to fund tx fees for people (who typically earn around five dollars a day).
What the funding will be used for
- Covering the engineering costs of finishing the MVP
- Launching and deploying the product to real users on the ground in Venezuela
- Writing up and sharing user insights and feedback from launching to real users
The grant requests an initial 3,000 USD for the first milestone and then another 3,000 USD for the second milestone.
Progress so far
This 25-minute presentation summarizes Alejandro’s learnings from the Open Money Initiative’s work in the field and the product inspirations it has shared with the wider crypto community.
- 17 user interviews: 11 ethnographic interviews in Colombia + 6 in Venezuela via phone.
- 16 diary studies: Longer-term diary studies
- 21 displacement studies - incentivizing people to use cryptocurrency in situations out of their comfort zone, with the aim of better understanding the friction points. These included getting people to make a transaction with Bitcoin for a good or service.
- Distilled user research insight and design solutions to solve cryptocurrency accessibility for users on the ground.
- The MVP of a simple wallet has been scoped out, see interactive mockups here.
- We have a proof of concept app that allows sending and receiving of DAI / xDAI via payment links and runs on Android 4.3 and above. An APK is available upon request.
- For a demo of what is currently working, see this video.
- We’re exploring the possibility to work with internal MetaCartel development teams to finish the implementation of the MVP under a more up-to-date tech stack (e.g. Abridged SDK).
Other sources of funding
- Leftover capital from MakerDAO grant (~ 10,000 DAI)
- Binance Fellowship of ~160 BNB for three months, starting July 2019 ($15,000 USD)
Who will be executing this proposal
- Part of the core team that created the first prototype for the Daily Wallet at ETHBerlin
- A founder and researcher at the Open Money Initiative
- Design and computer science background
- Goal: Publish an invite-only beta version to the Google Play Store and the Apple App Store
- Create a wallet
- Clear wallet
- Display backup phrase
- Send money using a link through the xDAI network (https://linkdrop.org)
- Receive money using a link through the xDAI network
- Goal: Open the beta to at least 200 users
- Development / Features
- A more polished interface without sacrificing compatibility with Android 4.3 and iOS 9.0. Similar to WhatsApp – prioritizing a simple, standard UI over animations or embellishments.
- Better code documentation.
More about the Open Money Initiative
The Open Money Initiative (OMI) is a non-profit that researches how people use money in closed economies and collapsing monetary systems. Recently, OMI has been focused on understanding the day to day financial challenges of real people enduring the economic crisis in Venezuela. OMI has been supported by the Human Rights Foundation, Zcash Foundation, Zooko Wilcox, IDEO, Stellar Foundation, Interchain Foundation, Tezos Foundation, and LocalBitcoins.com.
OMI is not directly affiliated with Daily Wallet, but produces open research available to the crypto industry. Alejandro’s experience researching this topic has translated into product decisions for the Daily Wallet.
From OMI’s research, here are several opportunity areas that Daily Wallet could explore in the future.