Undergraduate students from Berkeley’s Blockchain at Berkeley Club, Ayush Aggarwal and Eric Hou, built a transfer payment solution that leverages QR codes and the power of Interledger to send money and avoid the friction they experienced using popular apps like Venmo.
“The first thing is privacy. [Apps can submit user data] into social media, which we find concerning given that we don’t have a stake in that data,” said Aggarwal. “The second thing is that money isn’t really ours, because it’s on Venmo’s servers. So we wanted to use venmo to solve those two problems.”
Hou explained that using ILP and QR codes allowed their new app to have almost universal accessibility across platforms and devices, while maintaining the privacy of each user.
“Since everything is based on QR codes, any device that has a QR scanner can use the app,” said Hou. “So when you scan this QR code there is a secret there and the website will go ahead and parse that secret and handle it automatically.”
For more information, visit our blog http://bit.ly/2qggjQj.