Notar Exchange

We aimed to enable two individuals to exchange crypto for fiat via chat or another medium without relying on a third-party custodian or needing to trust each other.

We selected Wise as the fiat payment provider due to its support for many second and third-world countries, including ours.

This protocol ensures a secure, trustless crypto exchange for fiat without requiring a traditional custodian.

Our inspiration was zkp2p but we couldn't use it because we don't have access to any of the payment providers they support - hence Wise.

The exchange protocol is as follows:

• The person initiating the exchange places USDT in an escrow smart contract deployed on Scroll (specifically Scroll Sepolia).
• This action generates a link that can be shared with the other party.
• The recipient opens the link, which displays the transaction details and provides instructions for completing the crypto transaction using Wise.
• The instructions include installing the TLS Notary extension and our plugin for it.
• They are then redirected to Wise, where the transaction is made and notarized using the TLS - Notary plugin and a Notary server running in our cloud environment.
• This notarization process does not disclose any personal data to third parties.
• The proof of notarization is uploaded to our verifier, which checks it and releases the funds to the recipient’s address.