बटुआ (pronounced 'batua') is a concept for cryptocurrency in India. It consists of a simple end-user wallet with a decentralised non-custodial stablecoin pegged to Indian Rupee.
😀 What is Batua...? Batua (बटुआ) is an end-to-end "concept" for cryptocurrency in India. 🇮🇳 The word Batua is the phonetic spelling of the word for "wallet" in the Hindi language. 👛 Users of Batua transact entirely in Rupaysa, a decentralised non-custodial stablecoin pegged to the Indian Rupee. ⛓️ The project's key objective was to clearly demonstrate what is technically possible today, combining... - well-understood crypto primitives 📜, - an emerging Layer 2 solution 📈, - some bespoke development 🔢. ...to make a robust and usable wallet, ready for adoption. 👨👩👧👦 The solution comprises: - a decentrally-governed and non-custodial mechanism for a stablecoin, pegged to the Indian Rupee, based on MakerDAO SCD, using a Chainlink Oracle populated from CryptoCompare. ⚖️ - a minimalist web-wallet user-interface for sending and receiving Rupaysa, using Biconomy's gasless meta-transactions to pay fees on Matic L2, for a simplified user experience. 😺 The result is a concept to help introduce users to crypto, for making everyday payments in India. 📅 🧐 Why Batua...? India is an incredibly diverse country... but it is united in its use of the Indian Rupee. 🇮🇳 Digital payments for everyday spending are already common, where users scan QR codes with their smartphones, and pay using real money. 🤳 With a population of 1.3bn, and ~700m smartphones, it may be reasonable to expect Batua to find product-market fit in India. 🥳
How it's made
Specific Deliverables - UX Research & UI Design - User Persona Definition - Language and Localisation Research - Information Architecture and branded UI Designs - Stablecoin Architecture - MakerCOW... a clone of MakerDAO SCD, deployed on Goerli (Layer 1) - Chainlink Oracle presenting onchain ETH/INR price feed from CryptoCompare - COW tokens as MKR-like governance tokens - Dockerised scripted deployment of end-to-end stack - Gasless Payment System - Matic Layer 2 for retrieving account balance - Biconomy meta-transaction relayer for gasless transfer - Web Wallet App - Minimalist React web app at https://batua.bohendo.com - Basic onboarding flow, minimalist UI and low-friction UX - Alpha "investor" app at https://batua.bohendo.com/invest Details of the Chainlink-powered oracle to set the peg price: - Contract on Goerli: 0x07612C2dD1310dF712b61F510C08CA8c3fe2E883 - An example update on Goerli, fulfilled by a new chainlink node at https://link.bohendo.com, is available for review at this transaction hash: 0xdd131b71359407634eba6c8d6a62635ecf699669a71e6b2bf2fffac5d59e0c74 All work shared at github.com/batuaWallet.Technologies used