Inspiration
We are inspired by the vision of fostering financial inclusion, streamlining payment processes, and fostering transparency in the monetary system. Our CBDC application aims to empower users with a seamless and secure digital currency experience, while also promoting innovation and interoperability within the financial landscape.
What it does
Payments: The platform facilitates simple purchasing of "XRPL" using "INR" and seamless transfer of "XRPL" to another account. Offer create: This feature is used for exchanging one type of currency to another, such as converting "INR" to "USD". Escrow: XRP escrow secures a set amount of XRP tokens for a defined period through a transparent process. The steps involve setting up terms, locking the tokens in a secure account, and gradually releasing them based on a predetermined schedule.
How we built it
We built it using various methods we learnt from xrp ledger's website. We used API's provided to us and and used some sort of payment gateways to ease the process of transactions.
Challenges we ran into
We faced a lot of challenges associated with blockchain and security of our app. We started wirh zero knowledge of blockchain and got into many problems due to that but we eventually find their solutions. For the security, we were not sure which methods would be the best for maximum security and that research part took a lot of time for us.
Accomplishments that we're proud of
Our CBDC Application is a pinnacle achievement, uniting accessibility with security. Biometrics streamline accounts, while our marketplace enriches financial services. Transparent transactions and robust security redefine digital finance. Collaboratively, we shape a global, inclusive financial landscape. This milestone propels us toward boundless financial horizons.
What we learned
Engaging in this exceptional CBDC-based project has been profoundly enriching for our team. We've had the privilege of contributing to an initiative aimed at elevating countries' online financial landscapes while concurrently curbing the circulation of illicit funds. This experience underscores our commitment to impactful endeavors that drive positive change on a global scale.
What's next for Fallen Wallet
We want our application to be launched globally and have access to every central back digital currency. We want more and more people to use it, not just because it's safe but also it's the cheapest way for transactions/payments specially when it comes to cross border payments. We want every nation to accept our type of digital currency application.
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