We created a Mobile-first and Point of Sale application for the Ethereum and Polygon ecosystem that brings together TradFi with Web3. This to focus on adoption and finacial inclusion for the Latin American region, specially Mexico.
How many unbanked have we banked by the year 2022? Despite having made great progress and having outliers like the country of El Salvador, outside of that, the progress is almost null. Most of the same people that are into crypto today have been in for years and are the same elite, educated, previously banked ones. It has not reached those who are not.
But there are several ways to jumpstart solutions based on certain technologies, we have to do this mobile-first as 76% of the population has a cell phone and uses that primarily for most of their internet consumption and transactions. And on the other side, after the pandemic, retail businesses are booming. According to Worldpay: "Digital and mobile wallets are quickly rising in popularity among Mexican consumers. Led by PayPal, BBVA Wallet, OXXO Pay and Mercado Pago, digital wallets represented nearly 27% of e-com transaction value in 2021. They are projected to overtake credit cards to lead e-com payment share by 2024. Paying with a mobile device is growing as a preference at the point of sale as well as online. Mobile wallets earned more than 7% of POS spend in 2021, a share that is projected to double to over 15% by 2025 – over US$100B."
That represents a huge oportunity both for new economic models based on Ethereum and adoption.
Polygon: We used Polygon PoS as the base blockchain and services for the transactions ad smart contracts. Most of the wallet functionality is done through Metamask.
Wallet Connect: We will mostly use the PoS functionality through NFC and our service provider to connect Metamask and some RPC services will be done through Wallet connect to have as mucha the ETH space as w could possibly have. More on our github.