Cryptocurrency Cashier (Libra ready IoT Solution)

Our mission is to bridge the gap between online cryptocurrencies and offline retail scenarios. Therefore, we provide end to end blockchain payments solution for retail machines and self-service machines. WayInnovation Inside is our IoT modules which can be installed inside of vending machines, laundry machines, etc. WayInnovation Blockchain Hub is the hub to connect to different dPOS blockchain platform. We are very proud that we already have integrated with DECENT and Libra successfully.

The following link is our demonstration of our IoT device - cryptocurrency cashier.
https://www.wayinnovation.biz/cashier

If you are interesting to know us more, you can contact with me tech@wayinnovation.biz and visit our web site www.wayinnovation.biz.

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congrats on launch
for my question , im assuming the iPhone that shows the QR

image

act as a simple paper with a QR code on it,

My question is

because if it’s an ad-hoc e-wallet service that i have to download a native app wallet, & charge funds to operate an (hypothetical) washing machine, then im simply not doing it. From a user POV, its too much hassle (my opinion of course)

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Hi,

What you are doing looks great. We are developing scoring algorithm for the carboon foot print impact analysis, main idea is to analyse any transaction payment done for any goods and measure the carbon foot print generate by this payment.

About the your first question, you are right. It acts as a simple paper with a QR code on it.
Wallet App connects to libra testnet to do money transferring between consumer and merchant libra account. After libra completes transaction, wallet will send an encrypted transaction data to Cryptocurrency Cashier through BLE. Cryptocurrency Cashier will decrypt the transaction and display the transaction information. We are also developing Cryptocurrency Cashier to support NB-IoT. It means that Cryptocurrency Cashier can connect to internet directly.
In our application scenario, consumers will have cryptocurrency wallet App (they should because it’s cryptocurrency). Our solution is to build a bridge between wallet Apps and these retail machines. We provide hardware, iOS/Android SDK and Blockchain Hub for our customers.

Well, no.
THE main promise of libra is to be attached to whatsapp / messenger / instagram is no new app (wallet) to be downloaded funded etc.
if that is the case, your use case works today with ethereum.

What i do not understand is instead of having the adhoc wallet (for this vending machine, another one for another machine etc) talking to the cashier via BLE, why not make
the cashier listen to internet/BChain so that you can remove the hassle of adhoc app/wallet ?

then you say that you’re preparing a cashier connected to the Internet so in that case would you remove the use of ad hoc app wallet ?

I mean as far as I know in the ideal scenario I would have my ‎WhatsApp account with some Libra, I would go to the vending machine, I would scan the paper with the QR code, and that should be enough, right ?

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No, Facebook has promised to open libra for all developer to develop their own digital wallet. You can see this “Facebook to Senators” news as the following link. “As a caveat, Marcus noted that Libra will be an open-source platform, any third party developer will be able to build their own digital wallet.” That’s why there are so many company announce that they deliver their wallet app to support libra like ZenGo. They did pretty good job.
Of course, our solution can work with BTC, ethereum right now. But it doesn’t mean anything. Retail business must accept stable coins because of low profit and reduce exchange rate changes drastically risk with BTC, ethereum , that’s why libra can realize the daily payment with cryptocurrency.
BLE version is for some application scenario without internet connection. Our NB-IoT version can get rid of ad hoc app wallet.

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Thank you! It seems that you are doing things very interesting. Our IOT device can connect to E-Bike to collect data from E-Bike sensors. These information may be as the input of your scoring algorithm.

I think that @lucas was pointing out how whatsapp / messenger / instagram will likely be the dominant way of connecting with Libra. There is already a huge installed base, so it’s not clear why I should use another app as a wallet.

I am involved in the blockchain-IoT space too (we built an Ethereum wallet for microcontrollers https://github.com/AnyLedger/anyledger-wallet) and interested into how Libra will connect to the IoT. It may be that a client calling a remote Libra node is all that it takes, as I don’t see much need for transactions coming from the cashier.

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Hi Judy,

Excellent. I would like to suggest you to have possibly a skype call. I’m very interested to know better your offering. I could become also one of your partner / reseller in EU for your technology.

Greetings,

Evangelos

That was exactly my point yeah. People have to many apps, too many cards, In my case, having to download and fund a(nother) wallet is a no go. Only if you bring tremendous value or brand power.

Super ! What is the timeline for that ?

We hope that we can deliver it by the end of this year. We hope to show it in 2020 CES.

Although cryptocurrency can be transferred from one account to another via a pair of mobile wallet app in the P2P scenario, however, this approach is not appropriate in most retail settings.
For example, for retailers with more than one service staff, using a smartphone as a payment terminal means to install the merchant’s payment account private key into a shared mobile phone accessible by many service staff, and it is a big threat to payment security. Cryptocurrency Cashier will resolve this problem. Merchant owner still has a mobile wallet App to check his/her cryptocurrency balance. However, service staff just needs to have our cashier to verify Libra payment transaction.

Sure. We can talk each other next week. Could you provide me some information about your team or service before our conversation?

Hi,

Sure. At the time being we are 4 separates companies that are building a fully automated trading exchanges based on crypto. A web site will be relised soon.

Companies are the followings:

  1. Modulus.io -> provide a full exchange technology (modulus.io)
    2)TheMarketsTrust -> we provide the credit scoring with AI (themarketstrust.com)
    3)vrs.gr -> expert in smart contract design and asset tokenisation
  2. https://suretekinfosoft.com/ - Suretech provide us the IT capabilities and is managing the credit scoring backoffice.

Here is my Skype: live:961c33d39d4dbc14. We can talk to each other by Skype.