Our story begins with cPay which is a project that we have funded and are completing.
The project is in the challenge Fund7 of COTI, we have the support and cooperation with the leading technology engineers of COTI (Mr @NaorSella and @yairtesta).
It was a great partnership and we learned a lot from each other to develop more dApps and APIs or Opensource for Developer Ecosystem on Cardano Blockchain.
====== Proposed Solution =====
With cBilling we want to develop a total solution for the retail, e-commerce, and online shopping industry based on transactions via cryptocurrencies, here are currencies built on Cardano Blockchain.
Cryptocurrency payments will be analyzed in depth by us and stored in a database of the cBilling software system.
From these data analysis algorithms, the data will be refined and queried to serve the functions of the retail and e-commerce industries. Such as accounting, sales invoices, taxes, exchange rates…
cBilling will go through the following development stages:
- Build open libraries as well as APIs tools available for developers to access and integrate with e-commerce platforms.
- Build its own database based on specific integration into e-commerce
- Build and develop applications for users with the features of the designed cBill software.
- Improving and developing the customer base using cBill, deploying applications on retail platforms, selling PoS directly, and e-commerce.
The implications of the proposal are:
This cBilling DApp will impact and attract a large number of users with the audience being individual customers and retailers, e-commerce.
Especially the first Cardano blockchain project to build applications on it.
It will have a direct effect on ADA holders who want to report their transactions as well as manage purchases and view the input and output of their coins on the Cardano network.
The management of cryptocurrency transactions is often difficult for those with little knowledge or are afraid to access, now through the cBilling application you can manage and view all your transactions via your phone.
With cBilling will manage and create invoices for you anytime you want.
Modules, software functions as well as the overall solution of the project that we will implement:
1/ Build cPay module.
cPay: Accept payments with cryptocurrencies on the Cardano Blockchain system.
<u>With cPay we are building features around it such as:</u>
- Development of cPay wallet.
- Avoid volatility by automatically converting coins.
- Safeguard your coins in our vault and lock them for as long as you want.
- Automatically send payments to any crypto wallet you want.
- Grow your business globally with borderless, instant and low-cost crypto transactions.
- In the future, we will allow the integration of other cryptocurrencies outside the Cardano blockchain.
2/ Build the cBill module.
Make bill pay easy for yourself or your assistant manager by having more visibility into all expenses and bills - in one powerful platform.
With cBilling, we build a bill management system for corporate and individual customers to use. Our platform is focused on retail, e-commerce and online shops.
<u>The features and modules that we will develop for cBilling are:</u>
- Build Plugins:
Build plugins for major commerce platforms and online shops like Alibaba, Woocommerce, Shopify, Magento, Opencart, Wix…
This will help customers who need their stores to set up our system very simply and quickly.
- Create ADAPay buttons:
Build easy checkout buttons for integration into your e-commerce website or online shopping. You can use our crypto payment button anywhere on the internet platform you want to integrate.
It is optimally designed for simplicity and ease of use for users who do not need to know much about blockchain technology or information technology.
Technical solutions and integrated processes:
UI Button maker => Input POST Fields on HTML form => View and Check
Short code in programing:
<form action="https://www.cbill.app/index.php" method="post" target="_top">
<input type="hidden" name="cmd" value=“c_pay">
<input type="hidden" name="reset" value="1">
<input type="hidden" name=“to_shipping" value="0">
<input type="hidden" name="merchant" value=“349c67da438552cfeb906e6d7f31c96a”>
<input type="hidden" name="crypto" value=“ADA”>
<input type="hidden" name="amount" value=“5.00”>
<input type="hidden" name="items" value="Buy A">
<input type="hidden" name="allow_extra" value="1">
<input type="hidden" name="success_url" value="https://www.cbill.app/index.php?cmd=acct_home">
<input type="hidden" name="cancel_url" value="https://cbill.app/cpay-tools">
<input type="image" src="https://www.cbill.app/images/button/cpay.png" alt="ADAPay cBill.app">
</form>
- Build APIs tools
Build APIs for integrating ADA crypto payments and transaction bills.
Technical solutions and integrated processes:
Authentication => API Response => API POST Fields
<u>Authentication</u>:
The HMAC signature is created from your request’s full raw, POST data. Every API call has an SHA-512 HMAC signature generated with your private key.
<u>API Response: </u>
The API will return an array with elements to process the next step action
<u>API POST Fields: </u>
API calls are made as basic HTTP POST requests
- Voice Builder:
Build your customer’s invoices based on the transactions that come from their crypto wallets during the commercial transaction.
Analyze data and query according to customer requirements, build a web admin for customers to be proactive with their crypto trading-related work.
- Create payment bills for customers.
- List payments.
- View statements of payments.
- Query and store the completed transaction.
- Payment tracking.
- Create a link for customer payment completion.
Stay compliant with real-time syncing to your accounting system
Automate everything from payment preferences to approvals - so your vendors get paid the way they want.
- Build Mobile App
Building cBilling app on Android and iOS to make payment via Mobile more convenient and easier.
- Generate QR codes for code scanning and payment.
- Manage your account anywhere.
- Pay in many places that you can use when our app is present.
- POS - Tools development
Build payment gateways for retail locations or pay directly in the form of PoS.
We will integrate crypto payments with PoS machines for restaurants and retailers.
This will be convenient when you have both payments via our mobile App QR code and can be combined with PoS at the place you pay.
At the PoS site, you simply open your wallet integrated with cBilling and scan the QR code to accept your bill payment.
You can view the transaction history on the account you have registered with our website.
The KPIs for the project to go straight to solving the problem are:
- The number of transactions extracted and statistics from ADA holders.
- The number of plugins built on commercial platforms.
- The number of ADApayment buttons implemented on payment gateways and webshop.
- The number of wallets that integrate and connect to the cBilling app.
- The number of downloads of cBilling application.
- The number of people who use cBilling application regularly.
- The number of invoices generated.
- The number of PoS integrated cBilling applications.
- Cryptocurrencies are integrated into the application.
Communication strategy:
- We will build communication channels on
Youtube, Facebook, Twitter to promote your application. In addition, building information exchange channels about cBilling applications for ADA users.
- Create user manual content of the App, the benefits of using this application.
- Promote directly on e-commerce platforms about cBilling app.
- We open online AMA sessions with the community to share information about our products.
- Train or hire regular media KOLs for this dApp.
We believe that with every methodically deployed and communicated content, the cBilling application will be known and downloaded by many people on their smartphones.
===== Risks and Solutions =====
Risks
- Limited acceptance of crypto payments in retail and e-commerce.
- Exchange rate fluctuations in the crypto market are always a concern when paying with cryptocurrencies.
- Personnel working for crypto-payment operations are hard to find.
- Different decentralized blockchain platforms cost a lot of resources for research and testnet deployment.
Solution:
- We believe that today's media about cryptocurrencies is more open, especially in the very active crypto investment world. It is shaping up to be an attractive and sustainable financial market over time, so retailers and e-commerce don't want to miss out on their customers in dealing with cryptocurrencies. Surely in the future, it will be widely paid, the rest of us is to persevere in making our products well.
- It is true that the exchange rate in the crypto market is always volatile and makes orders difficult. We will develop reasonable exchange rate conversion mechanisms between cryptocurrencies according to the algorithm of stablecoin Djed that Cardano has successfully researched, in addition, a strong real-time system is also an advantage to prevent rate slip. transaction price.
- We will conduct staff training and will have training courses for customers to use cBilling products easily and have a good understanding of transactions in e-commerce with cryptocurrencies.
- It is really difficult to differentiate between blockchain platforms nowadays, making it difficult to build a DApp that integrates seamlessly into payments on the internet.
But obviously, it helps for diversity and general decentralization in the financial sector, especially bill payment. That problem is both a hindrance and an opportunity for us to develop the most useful decentralized applications for businesses and individuals to use. That is also an issue we need to invest in human resources to develop in the long term.