Dragonpay

is an in-store payment supporting both fiat and crypto. Customers can pay with whatever currency they have in their pocket. Merchants can generate QR to receive secure money Tx from customers as well.

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Inspiration

While traveling to Thailand and Mongolia in a row, I've discovered that QR payment is widely used in local stores, whereas either visa or mastercard was not supported. After that, spotted onto research about QR payment market and found out that it is expected to grow 6x till 2030. If given crypto payment options for customers in developting countries where local currencies are unstable, it is expected to widely adopted to people in that market.

What it does

DragonPay is an instore payment solution which enables customers to pay with whatever they have in their pocket. We support both fiat and crypto for payment. Payment Flow:

  1. Merchant generates QR code with price (two options given: Long for printed at store, Short for mobile devices)
  2. A customer scans QR with their mobile device.
  3. If a customer selects fiat, Paypal(USD) or Toss(KRW) will pop up and payment will proceed. If selects crypto, Keplr will pop up. (encouraged to pay with OSMO)
  4. Payment success, merchant receives success message.
  5. Payment done and if difference occurs, that will automatically be staked into one of OSMO pools to generate yield further.

How we built it

  1. User signup/auth: GCP Auth, GoLang
  2. QR generation: JS libraries
  3. Payment: Paypal/Toss/Keplr API

Challenges we ran into

  1. Telegram Auth does not worked, so made a turnaround to Google Auth.
  2. Moonpay or Transak, Zelle does not support credit cards issued in Korea.

Accomplishments that we're proud of

  1. Put ourselves in others shoes: Joon, who is blockchain developer since Tendermint has contributed to this project as a backend developer. Jessica, who has been programming in every hackathon has only performed as a manager. Dean, a fullstack engineer did a design along with programming.
  2. Walking through payment process Imagining user journey in payment, we thought about the most adequate approach to mass adoption, which enables blockchain tx in real life such as payment in coffee shops and groceries.

What we learned

  1. Google Auth/TG Auth requires compatibility check before implementing to product.
  2. QR payment market is expected to grow 6x in 2030, there's a potential in it.

What's next for Dragonpay

  1. Automatically staking differences into osmo pools.
  2. Overcoming exchange difficulties between fiat and crypto.

Resources

  1. Product Demo: https://hackerton-project.web.app/
  2. Codebase: https://github.com/mconcat/dragonpay-backend , https://github.com/2023-Interchain-Hackerton-DragonPay
  3. Product Brief: https://docs.google.com/presentation/d/1GfjfCZN9NVbFyi41KxXO7NwfRzQWhdWa3fRSFRnE5jQ/edit?usp=sharing

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