The Interledger Community 🌱: Fernando Almiñana

Wallet Guru Prototype Final Report

Fernando Almiñana — Tue, 17 Jun 2025 13:45:21 +0000

I. Project Summary

Wallet Guru is a mobile-first, usage-based payment platform that enables real-time micropayments using the Interledger Protocol (ILP). The project set out to solve a structural limitation in today’s financial services: traditional models like subscriptions and prepaid plans don’t reflect how people actually use digital services. Wallet Guru allows consumers to pay for what they use—as they use it—across sectors like video streaming, mobile data, and utilities. This approach supports more inclusive, flexible, and transparent financial experiences, especially in regions where traditional banking access is limited.

Instant payments represent one of the most compelling opportunities today—because the need is not only global, it’s innate. Hardwired into human behavior, the pursuit of immediacy has been well documented by great psychologists like Freud, B.F. Skinner, and W. Mischel. Wallet Guru was built to meet that need—instantly and intuitively.

During the prototype phase, we delivered a complete minimum viable product (MVP), including a cross-platform mobile wallet, a web-based administrative dashboard, and a gateway hub for integrating utility and service providers. Our first real-world integration with Sabby, a video streaming platform, allowed users to pay per minute of content consumed—proving that real-time payments can power consumer-centric models that better reflect actual behavior and needs.

A key takeaway from our prototype phase is that integrating with utility companies and legacy service providers remains one of the most significant hurdles to modernizing payments. Many of these institutions still rely on outdated, rigid infrastructure that can’t support real-time, usage-based billing models. To address this challenge, we designed the Wallet Guru Gateway to absorb the complexity—handling tasks like protocol translation, data normalization, and asynchronous processing. This approach enables legacy systems to participate in real-time payment flows without requiring costly overhauls, unlocking broader adoption across sectors.

All core components of Wallet Guru have been published on our GitHub repository, including source code, technical documentation, integration flowcharts, and user experience designs.

As we move forward, we are developing the Paystreme Network—an open, Interledger-powered payment network designed to connect any ILP-enabled wallet with service providers integrated into Wallet Guru through a seamless interoperability gateway. Paystreme will feature a rich metadata layer that enhances every transaction with capabilities like usage tagging, transaction grouping, among others—greatly improving the customer experience. To drive adoption and sustainability, Paystreme will embed a fee-sharing model that fairly rewards every participant in the ecosystem—from wallet operators and utility integrators to consumers—helping to incentivize participation at every level.

II. Project Rationale & Status

In today’s digital economy, consumers are no longer satisfied with rigid payment structures that don’t reflect how they actually use services. Whether it’s streaming content, topping up mobile data, or paying for utilities, people want flexibility, transparency, and immediacy. Yet in many parts of the world—especially across Latin America—financial infrastructure still relies on outdated systems like subscriptions, prepaid cards, or manual top-ups. These models introduce friction for users and inefficiencies for service providers.

Wallet Guru was created to bridge that gap. By integrating the Interledger Protocol (ILP) and Open Payments into a mobile-first platform, Wallet Guru enables real-time, usage-based payments in multiple currencies. Our mission is to build an inclusive financial ecosystem that aligns with how people live and consume today—giving them the ability to pay for what they use, as they use it.

This need is not only driven by user frustration—it is backed by data. A 2022 Deloitte study, based on interviews with 9,000 consumers, found that over half of respondents prefer pay-as-you-go models over subscriptions. The same study noted that consumers often forget about their subscriptions, spending an average of $219 monthly while only being aware of about 40% of that expenditure—highlighting the potential appeal of more transparent, usage-based models. Wallet Guru directly addresses this disconnect by replacing rigid billing cycles with real-time microtransactions that give users full control.

Demand isn’t limited to consumers alone. Our first integration partner, Sabby OTT, conducted its own market research in the content creation space and found strong support for Wallet Guru’s model among producers, distributors, and tech partners. What consistently generated excitement was Sabby’s “pay-as-you-watch” innovation—made possible by Wallet Guru’s real-time microtransaction infrastructure. Industry stakeholders called this model a game-changer for accessibility, especially in emerging markets and among casual viewers who prefer commitment-free engagement.

Our prototype phase focused on proving this concept in the real world. Over the past nine months, we built and deployed a complete MVP: a cross-platform mobile wallet, a web-based admin dashboard, and a gateway hub for service provider integrations. Our first implementation with Sabby OTT demonstrated Wallet Guru’s potential by allowing users to pay per minute of video watched—an experience that felt natural and intuitive to users. We delivered all planned milestones on time and without deviation, and performance testing across QA teams and early adopters validated the system’s scalability, accuracy, and usability. With a working foundation in place, our focus now shifts to enabling companies to adopt more flexible, consumer-centric business models through the Paystreme Network—models that reflect how people actually use and value digital services.

III. Key Activities and Outputs

The Wallet Guru Prototype Phase release was structured around three core components:

Wallet Guru Customer Application (iOS & Android) – A user-friendly mobile wallet for users to manage their accounts, set up payments, and track transactions.
Wallet Guru Web Administrative Application – A centralized management platform for administrators to oversee transactions, compliance, and integrations.
Wallet Guru Gateway – A backend payment infrastructure that enables real-time, usage-based billing for service providers like Sabby OTT.

Each component was developed following rigorous technical and functional specifications to ensure scalability, security, and compliance. Below is an overview of the activities undertaken and the corresponding outputs delivered.

All documentation of the project, including all technical documents and Open-Source code of the project are located at the Wallet Guru GitHub public section:

https://github.com/WalletGuruLLC

Initial Documents referenced in this report are located in the following GitHub Link:

Wg-Docs

This GitHub folder section contains all technical and design documentation related to the Wallet Guru project. The individual documents reference the various components of the Wallet Guru platform and link to additional folders where each component is organized. Detailed information on system prerequisites, along with step-by-step instructions for deploying the Wallet Guru platform as an open-source reference implementation, is available on GitHub.

System Architecture & Technical Design

Objective: Develop a scalable, secure, and efficient payment processing system supporting stream payments via Interledger Protocol (ILP).

Activities Undertaken:

Designed and deployed a cloud-based infrastructure capable of processing high transaction volumes with low latency.
Implemented Rafiki, an open-source Interledger node, as the core payment engine to route and settle ILP transactions.
Integrated Open Payments APIs for account management, payment initiation, and interoperability with third-party ILP-compatible services.
Developed a multi-tenant backend architecture to support enterprise-level scalability, compliance and secure partitioning of client environments.
Built a real-time transaction monitoring system for financial auditing and security enforcement.

Outputs Delivered:

System architecture diagrams outlining ILP flows, Rafiki components, Open Payments integration, and backend service orchestration.
Technical whitepaper on Wallet Guru’s ILP integration
Source code repositories (GitHub repo).
Security and compliance documentation detailing encryption, authentication, and data protection measures.

All documentation is available in the root GitHub repository: WalletGuruLLC/wg-docs. Some documents may contain references to other detailed technical Documentation.

Wallet Guru Customer Application (iOS & Android)

Objective: Provide a user-friendly and secure mobile wallet that enables real-time, usage-based payments and stream payments for digital services.

Activities Undertaken:

Developed a cross-platform mobile wallet using native development frameworks for optimal performance.
Implemented user registration and authentication with Sumsub KYC integration, requiring ID verification and biometric face scans. KYC Solution can be replaced with another provider at any time.
Designed a secure login mechanism with two-factor authentication (2FA) via email.
Enabled users to:
- Create a Wallet Guru account and generate a unique wallet address.
- Link external service providers (e.g., Sabby OTT) and set stream payment preferences.
- Fund wallets and execute real-time payments using USDC.
- Monitor transaction history and receive alerts for successful and failed payments.
Implemented responsive UI/UX design principles to ensure seamless app navigation and intuitive user experience.

Outputs Delivered:

Wallet Guru mobile app beta version (iOS & Android): GitHub - WalletGuruLLC/wg-mobile
UI/UX design documentation with wireframes and prototypes: Wallet Guru Technical Doc - User Histories.pdf
User flow diagrams outlining account creation, payment setup, and transactions: Wallet Guru Technical Doc - User Histories.pdf

Wallet Guru Web Administrative Application

Objective: Provide platform administrators with a centralized dashboard for managing users, transactions, and compliance operations.

Activities Undertaken:

Developed a web-based administrative panel with real-time transaction tracking.
Implemented role-based access controls (RBAC) for different administrative Utility Service for Wallet Guru Staff and utility companies.
Dedicated Monitoring of transaction of utility services integrated to the platform.
Built real-time analytics dashboards for financial reporting and performance tracking.

Outputs Delivered:

Admin platform UI/UX documentation: Wallet Guru Technical Doc - User Histories.pdf
Wallet Guru Web Admin demo version: Admin Frontend (frontend-admin)
Compliance reporting and security protocol documentation
Wallet Guru Gateway (Service Provider Integration: PENDING)

Objective: Enable real-time, usage-based billing for service providers like Sabby OTT.

Activities Undertaken:

Developed an API-based payment gateway for service providers to:
- Request real-time payments from Wallet Guru users.
- Track payment status and user balance availability.
- Manage billing cycles and adjust rates dynamically.
Integrated Sabby OTT’s streaming platform with Wallet Guru to allow:
- Per-minute, per-session, or per-view content billing.
- Automated balance deductions from user wallets.
- Real-time access control based on payment validation.

Outputs Delivered:

Wallet Guru Gateway API documentation
Sabby OTT payment integration flowchart.
Demo showcasing live pay-as-you-watch transactions.

Sabby – Wallet Guru system integration flow

Compliance & Security Implementation

Objective: Ensure adherence to regulatory standards and enforce secure financial transactions.

Activities Undertaken:

Integrated Sumsub KYC verification for identity validation and fraud prevention.
Implemented token-based authentication and OAuth security mechanisms.
Enforced secure data encryption protocols (AES-256) for user data protection.

Outputs Delivered:

KYC verification process guide
Compliance roadmap for AML, KYB, and transaction monitoring
Security and encryption framework.

Jurisdiction-Aware VAT Handling for Digital Services

To ensure compliance with international tax regulations, including value-added tax (VAT) for digital goods and services, Wallet Guru includes a modular, jurisdiction-aware taxation system. This allows service providers using the platform—such as content and utility operators—to define and manage tax rates based on customer location and service type.

Key Features:

VAT Configuration: The Wallet Guru admin console enables service providers to configure tax rates tied to the customer’s billing address and IP geolocation.
Automatic Tax Application: At the time of transaction, the system automatically applies the appropriate VAT rate when applicable.
Allocation & Reporting: VAT amounts are allocated during processing and made available through provider-level dashboards and exportable reports for compliance and remittance purposes.

Sabby OTT Example:

In our initial deployment with Sabby, a U.S.-based video streaming service, VAT does not apply under U.S. federal tax law. However, the Wallet Guru platform is fully VAT-ready for global use and will support Sabby’s compliance if the service expands to VAT-enforcing regions.

Testing, Prototyping & User Feedback

Objective: Validate system functionality, performance, and transaction reliability through ongoing controlled testing with QA personnel, Sabbatical team members, and selected users.

Activities Undertaken:

Conducted daily testing cycles involving Wallet Guru’s internal Quality Assurance team, the Sabbatical Entertainment team, and a limited group of test users.
Testing focused on:
- Repeated wallet-to-wallet transactions to evaluate processing speed, transaction accuracy, and consistency.
- Content consumption via Sabby OTT, using Wallet Guru to make real-time, pay-as-you-watch microtransactions.
- Monitoring the payment flow, including transaction start, execution, and confirmation.
Generated daily test reports to verify that all transactions were completed correctly and to proactively identify any anomalies or delays.
Used test findings to guide minor adjustments in platform performance, including improvements in:
- Transaction reconciliation.
- UI clarity for transaction status.
- Platform responsiveness during concurrent activities.

Outputs Delivered:

Daily transaction validation reports documenting testing activity and results.
Feedback logs from QA and test users, identifying minor enhancements.
Performance insights contributing to the updated Wallet Guru Phase 2 Roadmap.

IV. Project Impact and Target Audiences

Wallet Guru was created to serve individuals historically excluded from formal financial systems—particularly in regions like Latin America, where more than 550 million mobile users rely on prepaid services to access basic connectivity and utilities. These prepaid plans often come at a higher cost per unit than postpaid alternatives, penalizing low-income users who can least afford it. Prepaid services tend to involve additional processing fees, third-party intermediaries, and advance payment structures, all of which introduce inefficiencies that result in higher prices per unit of service.

In contrast, postpaid services typically offer lower rates but are inaccessible to many consumers due to a lack of credit history, documented income, or access to banking infrastructure. This systemic exclusion disproportionately affects underbanked and unbanked populations, locking them out of more affordable, reliable service options.

By enabling real-time, usage-based payments in local currencies, Wallet Guru introduces a flexible alternative that can help utility companies lower the cost of prepaid access, reduce payment friction, and improve service reliability for underserved communities. This model directly supports the Interledger Foundation’s mission of increasing access to digital financial services by lowering consumer and merchant costs and enabling inclusive participation in the financial ecosystem.

The platform was intentionally designed to benefit a wide range of marginalized groups, including women and girls, BIPOC communities, informal earners, and those with limited access to traditional banking. Our mobile-first approach, combined with intuitive UX and real-time feedback, ensures accessibility for users with low digital or financial literacy. During our Prototype Phase, we engaged directly with underbanked individuals through our collaboration with Sabbatical Entertainment, testing Wallet Guru in real-world scenarios and gathering feedback that shaped improvements to user flows, onboarding, and transaction clarity. The results were encouraging: users responded positively to having more control over their spending, and partners saw potential to adopt fairer, more sustainable pricing models.

Beyond payment flexibility, Wallet Guru also expands financial inclusion by supporting high quality crypto stablecoins like RLUSD and USDC in the future. This will open the door for additional benefits such as cross-border remittances, instant settlements, and access to a stable store of value—features that are especially relevant in countries experiencing inflation, currency devaluation, or lack of financial infrastructure. These capabilities give users greater financial agency while helping service providers unlock new markets through digital payment rails.

Looking ahead, Wallet Guru’s modular design and interoperability roadmap position it to reach a much broader population. By enabling any Interledger-enabled wallet of the Paystreme Network to interact with utilities and digital services, Wallet Guru helps eliminate the structural barriers that limit access to affordable financial tools. Its support for local currencies, real-time payments, and open APIs empowers service providers to reach users traditionally excluded by the banking system, while giving individuals more control over how and when they pay. This approach doesn’t just lower costs—it extends participation and financial agency to communities often left out of digital finance.

V. Progress Evaluation

To ensure accountability and alignment with project goals, Wallet Guru adopted a milestone-based evaluation framework throughout the development process. At the outset of our Prototype Phase, we established clear success indicators tied to technical milestones, platform integration, and system performance. Progress was monitored regularly through internal tools like Jira, structured QA testing, and weekly team reviews. This approach allowed us to track development velocity, identify friction points early, and make real-time adjustments based on findings from both technical and user feedback loops.

Key deliverables were completed on time and within scope, including the mobile wallet MVP, a fully functional administrative web application, and the gateway hub designed for third-party service integrations. Integrations with the Interledger Protocol (ILP) and TigerBeetle were successfully achieved, and usage-based payments were executed in real time through our pilot with Sabby OTT. Testing was conducted daily across multiple teams—including Wallet Guru’s internal QA team, Sabbatical Entertainment staff, and early users—focusing on transaction accuracy, platform responsiveness, and reconciliation consistency.

Feedback from these sessions was used to refine the user experience, with special attention given to onboarding, payment transparency, and transaction clarity. Testers consistently cited ease of use and instant feedback as core strengths of the platform—especially among those less familiar with digital wallets. All findings were logged in daily QA reports and shaped updates to the Phase 2 product roadmap.

Stakeholders played an active role throughout the evaluation process. The Sabbatical Entertainment team collaborated closely on the integration and testing of the Sabby OTT platform, while Wallet Guru’s core team conducted sprint retrospectives to ensure alignment across engineering, design, compliance, and partner relations. By embedding evaluation into the workflow and prioritizing responsiveness to real-world testing, we’ve not only validated the technical feasibility of real-time payments—but also built a product grounded in user behavior and partner needs.

VI. Communications and Marketing

Throughout this phase, our primary focus was dedicated to building a robust, end-to-end prototype of the Wallet Guru platform and laying the groundwork for the broader Paystreme Network. While we did not allocate budget or resources specifically to marketing, we did engage in two strategic communications efforts to begin publicly sharing our vision and progress.

First, Wallet Guru was introduced at the Interledger Foundation Summit in Cape Town, where we presented our real-time, usage-based payments platform and discussed the broader behavioral and technical trends driving the need for innovation in digital financial services. This presentation served as the official debut of our prototype and long-term roadmap.

Watch the presentation: Interledger Summit 2024 – Wallet Guru

Additionally, our Founder Emilio Rubio was interviewed by PYMNTS, a leading fintech publication, to discuss how Wallet Guru’s usage-based model can help Latin American consumers overcome the limitations and hidden costs of traditional prepaid systems. The article helped raise visibility around our mission and technology within a broader financial and payments audience.

Read the interview: PYMNTS – Pay-as-You-Go Options Help LatAm Consumers Battle Prepaid Fatigue

VII. The Future

With the core Wallet Guru platform successfully prototyped, our focus now turns to launching a fully operational product and laying the foundation for scale. While our long-term goal is to expand across Latin America—particularly in sectors like utilities and telecoms, where Wallet Guru can have the greatest inclusive impact—our immediate priority is to establish credibility, revenue, and product maturity by launching in the United States.

The next critical milestone is completing our on/off-ramp integration in the U.S.. These ramps are essential for onboarding consumers and businesses, providing users with familiar financial access points, and launching our first commercial deployment with Sabby OTT. They will also support onboarding of mobile service providers targeting underserved users in the U.S. market.

In parallel, we are building the interoperability gateway that powers the Paystreme Network—an open, Interledger-based streaming payment network designed to support real-time, usage-based transactions across multiple industries. This gateway will allow any ILP-enabled wallet to connect with utility companies and digital service providers integrated with The Paystreme Network, fostering open participation and reducing vendor lock-in. By embedding fee-sharing incentives into the network, Paystreme will reward all actors—wallet operators, integrators, and even consumers—for their role in powering financial flows.

Our go-to-market strategy is rooted in pragmatism. Although the greatest need for Wallet Guru’s flexible payment model exists in Latin America—where prepaid users often pay more for basic services—we recognize that building trust through real integrations, revenue, and usage in a live market is essential. By starting in the U.S., we can demonstrate economic viability and product-market fit while preparing for broader international expansion.

From a compliance perspective, we are evolving from basic KYC/KYB and data protection to full AML monitoring and regulatory partnerships in both U.S. and LatAm markets. Operationally, we are expanding developer documentation, improving internal tooling, and strengthening system observability to support increasing transaction volume and service diversity.

The success of this prototyping phase confirmed both the technical readiness and market demand for real-time, usage-based payments. With Wallet Guru as the tech provider and Paystreme as the open payment network, we are now positioned to scale across borders and industries—bringing inclusive, on-demand financial access to the people and services that need it most.

VIII. Lessons & Recommendations

Lessons Learned

Utility and Service Provider Integration Is Inherently Complex: A key takeaway from the Prototype Phase is that integration with utility companies and legacy service providers is often challenging. Many of these entities rely on outdated or rigid platforms that lack the flexibility to support modern, real-time payment flows. To address this, the Wallet Guru Gateway was designed to absorb most of the integration complexity—handling protocol translation, data normalization, and asynchronous processing to deliver seamless user-facing experiences.

User Experience Is Critical to Adoption in Underserved Markets: Early testing confirmed that ease of use, real-time feedback, and clarity in transaction flows are essential to building trust—particularly among first-time digital wallet users in underbanked communities. Streamlined navigation, immediate balance updates, and transparent payment histories proved especially valuable.

Live Testing with Real Users Drives Product Refinement: While simulations and internal QA were important, the most impactful insights came from real-world testing. Daily transactions between the QA and Sabbatical teams, combined with real usage of Sabby OTT’s pay-as-you-watch model, provided actionable feedback that shaped performance improvements and UI enhancements.

Interoperability Offers Strategic Advantage: Leveraging the ILP has positioned Wallet Guru for broad interoperability across both local and crypto ecosystems. This foundation enables the platform to support diverse transaction types and partner integrations across regions and industries.

Recommendations

Account for Integration Complexity in Projects Involving Legacy Systems: When working with utilities or older service platforms, expect to carry the burden of integration through adaptive middleware or custom gateway solutions. Planning for this early reduces implementation friction and future technical debt.

Prioritize Human-Centered Design from the Start: Investing in intuitive, multilingual interfaces and designing with accessibility in mind pays dividends—especially when targeting users with low digital or financial literacy.

Engage Ecosystem Partners Early and Continuously: Collaborating with partners like Sabbatical Entertainment during development helped align features with real-world use cases. Early and sustained engagement with partners and their users is critical for relevant, impactful innovation.

Maintain a Modular, Scalable Architecture: The modular system built in the Prototype Phase has enabled agility in development and integration. Continuing this architectural approach will allow Wallet Guru to grow efficiently across new services, partners, and geographies.

IX. Community Support

While Wallet Guru began as a standalone platform, it was always built with a broader vision in mind—one that goes beyond any single product. We are now laying the foundation for the Paystreme Network, an open, interoperable, internet-native payment network powered by the Interledger Protocol. Paystreme is designed to support real-time, usage-based payments across a wide range of verticals, including video streaming, telecommunications, broadband, and utilities.

At the core of this vision is an interoperability gateway that will allow any ILP-enabled wallet to connect with service providers already integrated into Paystreme and Wallet Guru. This infrastructure will ensure that value can move fluidly across the network, enabling end users—regardless of the wallet they use—to stream payments for services in real time. We are actively seeking to begin conversations with other ILP wallet operators to align on protocols, interface standards, and integration pathways. We also welcome collaboration from those working on routing, compliance, or technical infrastructure that can help make this ecosystem more robust and scalable.

Equally important are the utility integrators and domain experts who can help bring real-world service providers into this new payment paradigm. Many utility companies still rely on outdated systems that make real-time, dynamic billing difficult. Paystreme was designed to absorb much of this complexity through the Wallet Guru gateway, but trusted local partners will be essential in adapting these solutions to different markets and regulatory environments.

We envision Paystreme operating on a shared incentives model, similar to the credit card ecosystem—where wallets, integrators, and consumers all earn fees for facilitating transactions. This model ensures that every contributor to the network’s success is fairly rewarded, driving collaboration and long-term sustainability.

We’re excited to connect with builders, operators, integrators, and mission-aligned organizations across the Interledger community who share this vision. If you’re working on streaming payments, ILP wallet development, cross-border transactions, or last-mile integrations, we’d love to collaborate and help shape the future of open financial access together.

X. Additional Comments

As we continue to build out the Wallet Guru platform, we’re also exploring the development of a web monetization stack that would allow content platforms to monetize articles, media, or digital experiences in real time. This would enable websites to move beyond ads and subscriptions—connecting seamlessly into Wallet Guru’s usage-based payment infrastructure.

This initiative directly supports the broader vision behind the Paystreme Network—an open, interoperable, Interledger-powered ecosystem designed to enable real-time, streaming payments across industries. The web monetization layer will allow publishers, educators, and creators to plug directly into Paystreme, unlocking new revenue models while giving users flexible, privacy-respecting ways to support the content they engage with.

We are currently in the research and early architecture phase of this effort and welcome collaboration from others in the Interledger community who are exploring adjacent use cases—whether in monetization, interoperability, or content-based payments.

XI. Additional Resources

Paystreme Thumbnail

Wallet Guru Prototype Progress Report #2

Fernando Almiñana — Thu, 23 Jan 2025 15:34:15 +0000

Project Description

Wallet Guru is designed to revolutionize how individuals across the world manage their financial assets. By seamlessly integrating the robust capabilities of the Interledger Protocol into a secure and user-friendly FIAT/Crypto wallet, the platform empowers users to customize their spending and usage behavior across various utility services, all linked to a digital wallet. Leveraging high-performance cloud computing, the system continuously collects usage data and performs hourly extractions from users' wallets to utility wallets, accompanied by detailed usage reports. The solution operates as a multi-tenant PaaS, driving cost efficiencies through economies of scale.

Project Update

As of January 2025, we have successfully completed Sprint 10, marking the conclusion of major development tasks for this phase. Key system components, user interfaces, and core functionalities are now operational across both staging and production environments. The applications for Android and iOS have been fully developed, with separate versions tailored for testing in staging and live deployment in production.

We are excited to announce that Sabbatical Entertainment, a leading content provider, will launch their first streaming platform, sabby, in partnership with Wallet Guru. sabby is a groundbreaking streaming platform that will offer a pay-as-you-go payment option, powered by Wallet Guru’s innovative payment system and the Interledger Protocol. This partnership makes sabby our first client, showcasing the real-world applications and scalability of our platform. Integration with sabby has been successfully finalized, and the production environment is fully deployed, with ongoing architecture and software optimizations based on testing feedback.

This milestone represents a significant step forward in our mission to provide innovative, reliable, and transformative payment solutions for modern financial management.

Overview of Key Activities

Wallet Guru has made significant strides in its development, with most of the core features now in place, including account management, payment setups, and integrations, paving the way for a successful launch. As we prepare to debut with Sabbatical Entertainment’s streaming platform, sabby, we’re finalizing the platform’s functionality and focusing on testing to ensure a smooth user experience. Alongside these efforts, we are ramping up our marketing initiatives, with an emphasis on expanding our social media presence, revamping our website, and building stronger relationships with strategic partners. Looking ahead, we’re excited to onboard additional clients later this year and aim to launch Wallet Guru with its first utility service partner in 2025, marking the beginning of a broader adoption.

Progress on Objectives

We are excited to report significant progress on our objectives. As of January 2025, nearly 95% of Phase 1 activities for the Wallet Guru Platform are now complete. Below is the updated status of key project components, showcasing the advancements made since our last report:

User Registration and Authentication Module
- Status: Completed
- Users can create accounts using personal details such as name, email, and contact information.
- A secure authentication mechanism, including two-factor authentication, has been implemented to safeguard user accounts.
Account Management
- Status: Completed
- Users can link utility accounts or services to their mobile wallet by providing relevant information or account numbers.
- New Functionality Added: Custodial and non-custodial wallet balances are generated for each user.
- Users can view wallet balances and transaction histories, with secure support for sending and receiving USD.
Stream Payment Setup
- Status: Completed
- A user-friendly interface allows users to set up stream payments for utility services.
- Users can select utility service providers and define payment parameters such as rate, duration, and maximum limits.
Interledger Protocol Integration
- Status: Completed
- The Interledger Protocol integration ensures seamless payment routing and interoperability across ledgers.
Stream Payment Execution
- Status: Completed
- The system now automates stream payment execution based on users’ predetermined parameters.
- Real-time payment tracking and notifications are available for both users and utility companies via email.
Billing and Transaction History
- Status: Completed
- Users can view detailed billing and transaction records for each utility service.
- Itemized and transparent billing information includes payment amounts, timestamps, and service descriptions.
Notifications and Alerts
- Status: Completed
- A fully operational notification system alerts users to transactions related to the POC utility service provider and funding transactions between users.
Customer Support and Dispute Resolution
- Status: Completed
- Mechanisms now allow the utility company (Streaming Video Service) to manage disputes, provide evidence, and resolve issues efficiently.
- Added Functionality: Refunds can be issued via the admin console for customer support staff with appropriate security credentials.
Security and Compliance
- Status: Ongoing
- Strong security measures are in place to protect user data and wallet transactions.
- New Development: Penetration testing is currently in progress to further strengthen the platform's security.

Communications and Marketing

We were recently interviewed by PYMNTS.com, where we shared how Wallet Guru’s pay-as-you-go payment solution is helping LatAm consumers battle prepaid fatigue. The interview highlights our mission to redefine payment systems and provide a more efficient alternative for underserved regions. You can read the full article and watch the interview here.

In late October 2024, we participated as speakers at the Interledger Summit in Cape Town, where we presented our vision for revolutionizing the streaming industry with Interledger's Streaming Payments. This opportunity allowed us to engage directly with the Interledger community and showcase how Wallet Guru is poised to transform payment systems across industries.

In early February, Sabbatical Entertainment will officially announce the release of their streaming platform, Sabby, in partnership with Wallet Guru. This announcement is set to take place during the prestigious NATPE Global Convention and RealScreen Summit in Miami, Florida.

To support this launch, we will collaborate with Sabbatical Entertainment across social media outlets, amplifying the platform’s visibility and reach.

Q1 2025 Marketing Objectives:

Develop a more robust marketing and communication strategy.
Dedicate additional resources to promote Wallet Guru’s groundbreaking capabilities.
Build out Wallet Guru’s social media presence to better engage with our audience.
Revamp our website to reflect our latest developments and ensure a seamless user experience.

Additionally, we aim to deepen our collaboration with the Interledger team, exploring opportunities to co-create communication and marketing materials to drive greater awareness and engagement throughout 2025.

Next Steps

The journey ahead is filled with exciting milestones as we gear up for a game-changing launch.

Immediate Priorities:

Conduct detailed testing with multiple beta testers to fine-tune the platform, resolve any remaining bugs, and deliver an exceptional user experience.
Collaborate with Sabbatical Entertainment to execute extensive use case testing, ensuring seamless integration with their innovative streaming service, sabby.
Update and refine all project documentation to reflect the full scope of the platform’s advanced features.
Prepare for a comprehensive system load test to ensure Wallet Guru is robust, scalable, and ready to meet real-world demands.

While sabby will mark our first client launch, we are actively initiating conversations with potential new clients to onboard additional partners by the end of this year.

Ultimate Goal:

To proudly launch Wallet Guru in partnership with our first utility service provider in 2025, setting the stage for widespread adoption and transformative value for users worldwide.

What Community Support Would Benefit Our Project

We are building an open platform where any Interledger-enabled wallet can seamlessly integrate with Wallet Guru. Community support from Interledger wallet providers would be highly beneficial, as we are eager to explore potential integrations with all Interledger-enabled wallets in the ecosystem.

To foster a healthy and financially sustainable ecosystem, we plan to share the payment processing fees with wallets integrated into our network. This approach ensures that all participants in the ecosystem benefit from their contributions, promoting growth and long-term collaboration.

We look forward to collaborating with partners to enhance interoperability and expand the reach of Wallet Guru.

For more information or to discuss integration opportunities, please contact: fernando@walletguru.com.

Wallet Guru Prototype Progress Report

Fernando Almiñana — Wed, 23 Oct 2024 17:06:15 +0000

Project Update

Wallet Guru is a pay-as-you-go payment processing system developed by Wallet Guru, designed to transform how individuals manage their financial assets. The platform seamlessly integrates the robust capabilities of the Interledger Protocol into a user-friendly and secure digital wallet. This service allows users to customize their spending and usage behavior across available utility services, all linked to a prepaid digital wallet.

Leveraging high-performance cloud computing, the system continuously collects usage data and performs hourly extractions from the user's wallet to the utility wallet, accompanied by detailed usage reports. The solution operates as a multi-tenant PaaS, enabling cost efficiencies through economies of scale.

We have successfully completed Sprint 7 out of a total of 10. Key system components, user interfaces, and core functionalities are now operational in our staging environment. Additionally, system integration for our live POC with Sabby, owned by Sabbatical Entertainment—a streaming video service offering a pay-as-you-watch subscription model using the Interledger Protocol—is well advanced. Production Environment is in the initial stages of deployment, and architecture optimizations are in progress using the results of testing in the staging environment.

Key Activities

During this period, we made significant strides by identifying an ideal partner for integrating our Wallet Guru prototype: Sabbatical Entertainment, a Miami-based content production and distribution company. Sabbatical Entertainment specializes in creating and distributing high-quality content across multiple platforms, with over 300 hours of original programming in both English, Spanish, and Portuguese. The company has a strong global presence and offers a diverse slate of content, including documentaries, educational and family, sports, short formats, and entertainment.

Sabbatical Entertainment is launching Sabby, its first video streaming platform, as an extension of its brand to provide audiences with direct access to its diverse content offerings. As Sabbatical moves forward with its direct-to-consumer platform, this presents a unique opportunity to integrate Wallet Guru from the ground up. This collaboration allows us to implement our real-time payment streaming technology at the inception of their platform, streamlining transactions and demonstrating the full potential of Wallet Guru’s capabilities.

Additionally, we assembled a team of 14+ developers to build our technology stack, with the development process commencing in July 2024. We are on track for completion in Q1 2025, at which point we will fully deploy the prototype and begin broader integrations.

Progress on Objectives

The development process is progressing according to schedule, with nearly 70% of Phase 1 activities for the Wallet Guru Platform completed. Below is the current status of key project components:

User Registration and Authentication Module
- Current Status: Completed
- Details: Users can create accounts by providing personal details, including their name, email address, and phone number. A secure authentication mechanism, including two-factor authentication, has been implemented to safeguard user accounts.
Account Management
- Current Status: Completed
- Details: Users can easily link utility accounts or other services to their mobile wallet by entering the necessary account numbers or details. Key features include managing linked accounts, updating payment preferences, and viewing billing information.
Stream Payment Setup
- Current Status: Completed
- Details: A user-friendly interface allows users to set up stream payments for utility services. Users can select utility service providers and define payment parameters such as rate, duration, and maximum limits.
Interledger Protocol Integration
- Current Status: Completed
- Details: The Interledger Protocol is integrated to ensure seamless payment routing and interoperability across different ledgers.
Stream Payment Execution
- Current Status: In Progress
- Details: The system will automate stream payment execution based on users’ predetermined parameters. Real-time payment tracking and notifications will be available for both users and utility companies.
Billing and Transaction History
- Current Status: In Progress
- Details: Users will be able to view detailed billing histories and transaction records for each utility service.
Notifications and Alerts
- Current Status: In Progress
- Details: A basic notification system will alert users about transactions related to the POC utility service provider, as well as funding transactions between users.
Customer Support and Dispute Resolution
- Current Status: Pending
- Details: Mechanisms are being developed to allow the utility company (Streaming Video Service) to manage disputes, provide evidence, and resolve issues efficiently.
Security and Compliance
- Current Status: Ongoing
- Details: Strong security measures are being implemented to protect user data, including personal information, bank details, and wallet transactions. Additionally, we are ensuring the security of all sensitive information to maintain user privacy and build trust.

Communications and Marketing

We have taken proactive steps to publicize Wallet Guru, starting with a successful interview with our press team, which has already led to one publication. Additionally, we recently issued our first press release announcing the partnership between Interledger and Wallet Guru, focused on enhancing service payments. You can view the full announcement here.

We are excited to participate as speakers at the upcoming Interledger Summit, where we will showcase the Wallet Guru prototype and discuss our vision for transforming interactions with digital content and services.

As we look ahead, we are actively collaborating with the Sabby team to develop a robust communication and marketing plan. By early next year, we will launch a stronger marketing and PR push, dedicating more resources to promote the platform. This will include a comprehensive strategy for media engagement and broader marketing initiatives aimed at driving platform adoption as we finalize the video streaming integration and prototype.

What’s Next?

We are currently focused on completing the basic system functionality outlined in the project plan for Phase 1 and expect to deploy the production environment by late November 2024. Throughout this process, we will continue to work closely with the ILP team to ensure that everything is functioning properly. Once the production environment is tested and validated, we will finalize the integration with the Sabbatical Entertainment OTT platform, 'Sabby.' A test phase will then begin with Sabbatical test customers, and we anticipate the product launch in Q1 2025.

What Community Support Would Benefit Your Project?

We are building an open platform where any Interledger-enabled wallet can seamlessly integrate with Wallet Guru. Community support from Interledger wallet providers would be highly beneficial, as we are eager to explore potential integrations with all Interledger-enabled wallets in the ecosystem. We look forward to collaborating with partners to enhance interoperability and expand the reach of Wallet Guru.

For more information or to discuss integration opportunities, please contact: fernando@walletguru.com.

Wallet Guru - Paystreme - Final Research Grant Report

Fernando Almiñana — Wed, 05 Jul 2023 16:39:58 +0000

Greetings, ILP Community! We’re thrilled to present our final report for the research phase, which highlights the progress we’ve made with utmost dedication and effort.

Wallet Guru is a US-registered technology company specializing in delivering real-time payment solutions to utility companies throughout Latin America. Our cutting-edge payment streaming platform, Paystreme, empowers millions of unbanked and underbanked individuals by providing seamless access to the Internet of Value (IoV) and pay-as-they-go for essential services like cell phone coverage, broadband internet, pay-TV, and on-demand streaming content. Initially focusing on utility companies in Latin America, where there are approximately 551 million aggregate prepaid subscribers across these four industries, Wallet Guru aims to address the needs of users who typically face higher rates compared to post-paid clients. By leveraging an ILP-enabled payment system like Paystreme, these individuals can enjoy significant benefits, including easy access to subscription-less services at competitive rates.

Project Update

These past few months have been remarkably impactful and significant for the Wallet Guru team. We have not only expanded our team by bringing in key and invaluable members, but our understanding of the market has also grown exponentially. Now, more than ever, we are thrilled to embark on the next phase of our development and create a product that will not only make a meaningful impact on the community but also revolutionize the industry as we know it. This report will encompass key activities and provide updates on the latest changes in our project. We would like to extend a special thanks to the ILP members and community for actively engaging with us during these past few months and for offering valuable feedback and engaging in constructive conversations. We genuinely appreciate all the time and effort you have contributed.

Project Impact & Target Audience

Wallet Guru is proud to share the intended and actual impact our project is having on its target audience and communities, including marginalized groups. One area where our project is making a significant difference is in promoting financial inclusion in Latin America at scale. By partnering with utility companies that have millions of subscribers, Paystreme expands its reach and impact on the target audience. These partnerships enable us to provide a seamless and inclusive financial experience to individuals who may not have access to traditional banking services. Also, through our integration with MoneyGram, Paystreme empowers traditionally excluded cash users to seamlessly convert funds for banked deposits or USDC at over 450,000 locations worldwide.
Another way we create a positive impact is by providing a more efficient way of dealing with prepaid customers for utility companies. This has the potential to benefit approximately 400 million prepaid mobile carrier subscribers in the region. Our research has shown a direct correlation between the cost of mobile data and the number of prepaid users in a country.

For instance, as illustrated in the figure above, Mexico, with the largest prepaid customer base, faces the challenge of exorbitant mobile data costs. In fact, the price of 1 MB of mobile data in Mexico amounts to a staggering 108% of the cost of a local Big Mac. In contrast, Chile, which has the lowest prepaid base, enjoys significantly more affordable mobile data prices, accounting for only 10% of a local Big Mac.

Through our project, we are not only leveraging innovative technology and promoting financial inclusion, but we are also addressing tangible challenges faced by marginalized communities. By reducing mobile data costs and providing a more efficient payment solution, Wallet Guru's Paystreme has the potential to improve the lives of hundreds of millions of prepaid subscribers in Latin America and contribute to a more equitable digital landscape.

Progress on Objectives, Key Activities

We continued to make considerable progress on most objectives specified in the original plan:

1.- Business & Technical Requirements:
As our research has delved deeper and our knowledge has expanded, our technical and business requirements have become more robust and comprehensive. The goals and objectives below guide the technical design of the initial release of the Paystreme system, integrating the Interledger Protocol for streaming payments. The focus areas include:

Seamless Integration: Achieve smooth integration of the Interledger Protocol into the Paystreme system's architecture and infrastructure. This ensures efficient stream payments across different networks by seamlessly interacting with ILP components.
Seamless Cross-Ledger Transactions: Enable easy fund transfers between USDC and fiat currencies, leveraging the Interledger Protocol. Integrate with multiple blockchain networks and ledgers to support a wide range of digital and traditional currencies.
Robust and Secure Infrastructure: Establish a strong and secure technical foundation for the Paystreme system. Implement stringent security measures, including encryption, secure key management, and authentication protocols, to safeguard user funds, transaction data, and personal information.
Reliable Transaction Processing: Design a mechanism that guarantees reliable and consistent transaction processing. Minimize transaction failures to ensure seamless and uninterrupted payment flows between parties.
Scalability and Performance: Develop the Paystreme system to be highly scalable and performant, capable of meeting growing user demands. Enable efficient handling of a high volume of stream payments, horizontal scaling as user numbers increase, and consistent performance during peak loads.
Developer-Friendly APIs and SDKs: Create intuitive and well-documented interfaces, such as APIs and software development kits (SDKs), to facilitate easy integration and application development on the Paystreme system. Empower developers to leverage ILP functionalities and build innovative payment solutions.
Compliance and Regulatory Requirements: Ensure compliance with relevant financial regulations and industry standards. Design the Paystreme system to support measures such as anti-money laundering (AML), know your customer (KYC), know your business (KYB), know your transaction (KYT), and transaction reporting, while safeguarding user data privacy and security.
Interoperability with External Systems: Enable seamless integration and interoperability with external systems, including banking networks, payment gateways, and digital asset platforms. Facilitate streamlined fund transfers and compatibility with existing financial infrastructure.
Continuous Improvement and Innovation: Foster a culture of continuous improvement and innovation in the technical design of the Paystreme system. Regularly assess and incorporate new technologies, industry best practices, and user feedback to enhance functionality, user experience, and performance.

2.- Overview of the money flow from legal and license perspectives:
We have strategically incorporated a hybrid design into our platform architecture, ensuring that we can adhere to both local and international regulatory standards. This innovative approach also allows us to leverage the expansive network of over 450,000 commercial agents under the MoneyGram umbrella, amplifying our reach to unbaked or cash-based users.

3.- Followup on OFR financial license application:
We are actively following up on our application for a Money Service License to the Florida Office of Financial Regulation (OFR). As we patiently await feedback on our application, we eagerly anticipate the next steps in obtaining the license that will enable Wallet Guru to operate as a legitimate money service business in Florida. This milestone will empower us to expand our offerings by introducing new financial products and services to better serve our customers.

4.- Funds flow between participants
We have strategically incorporated a hybrid design into our platform architecture, ensuring that we can adhere to both local and international regulatory standards. This innovative approach also allows us to leverage the expansive network of commercial agents under the MoneyGram umbrella, amplifying our reach and effectiveness.

5.- Leverage our relationship with new contractors:
Wallet Guru has appointed ErgonStream Services LLC, led by Mr. Emilio Otermin, to spearhead its software development initiatives. ErgonStream has formed a partnership with a reputable development company that played a crucial role in the development of the Chivo Wallet for the Government of El Salvador.

Key Activities

The most important activities we have since our last report are the following:

With our newly onboarded contractors, the Wallet Guru team is now fully equipped to confidently tackle any forthcoming challenges. We are deeply enthusiastic about our continued growth and hold unwavering confidence that our product will surpass all expectations. The development team completed a detailed technical plan that serves as a guiding resource for the development team and stakeholders involved in the project. The document outlines the technical goals, objectives, and scope of the project, ensuring a clear understanding of the technical design and implementation.
Wallet Guru has successfully completed a comprehensive business plan that will serve as a strategic blueprint, guiding us in formulating effective strategies, assessing future financial requirements, and attracting potential investors.
Also, our We have maintained regular and ongoing communication with the Florida Office of Financial Regulation as we eagerly await feedback on our application. Due to the substantial number of applicants, the process has been extensive, but we remain optimistic and confident that we will obtain approval in the coming months.
The technical discussions between our tech/development team and Alex Lakatos have proven to be highly valuable and integral to our team's progress. We deeply appreciate the invaluable knowledge that has been generously shared with us.
Engaging in ILP community calls and open payment huddles has been an invaluable experience. The monthly ILP calls provide a wealth of insight and inspiration, shedding light on the multitude of ongoing innovations within the community.

Communications and Marketing

Wallet Guru was selected by the Interledger Foundation to participate in the Global Digital Development Forum, during which we engaged in discussions on the topic "The Power of Place and Open Payments: How Solutions for Financial Inclusion are Being Built with the Communities They Serve." This forum was co-sponsored by esteemed organizations including USAID, Chemonics International, IBM, Deloitte, DAI, Google, RTI International, Save the Children International, Interledger Foundation, Bixal, and Palladium on the TechChange platform.

We have been inundated with inquiries from various news and publicity outlets, demonstrating a keen interest in conducting interviews about our project through multiple social media platforms and direct contact. We genuinely appreciate the attention and are humbled by the level of interest shown. However, at this stage, we have made the strategic decision to postpone public interviews. As the development of Paystreme progresses significantly in the coming months, we will intensify our allocation of resources and efforts toward marketing communications. Rest assured, you can expect a powerful and impactful display in our marketing communications endeavors.

What's Next?

We are thrilled to share the exciting developments that lie ahead for Wallet Guru. Following years of meticulous research and preparation, we have successfully devised a robust, secure, and scalable payment streaming platform. This groundbreaking solution is poised to revolutionize the management of millions of prepaid subscribers in Latin America, offering exceptional efficiency. With our comprehensive technical plan firmly established, we are now prepared to enter phase 2 and commence construction of the platform.
In the coming months, our focus is on obtaining our license in Florida — a significant milestone that will greatly facilitate our operations and expansion. This strategic move reinforces our market presence and enhances our ability to serve customers throughout Latin America.
Furthermore, we value the ILP community as a source of profound knowledge and shared visions, providing valuable support in strengthening our project. As we venture into this next stage, we are enthusiastic about expanding our team, attracting top talent to further elevate our capabilities. Concurrently, we will initiate strategic marketing initiatives to drive awareness and adoption of our innovative solutions. We eagerly anticipate engaging with you and hope to have the pleasure of connecting at this year’s summit. The future holds great promise for Wallet Guru as we continue to pioneer advancements in the payment industry.

Community Support

As we embark on building out our project, we strongly believe in the power of collaboration and the strength of community support. We invite our readers to actively engage with us and become part of our journey. Your feedback, questions, and suggestions are incredibly valuable to us, and we are gratefully appreciative of any contributions you can make. Together, we can advance our work and create meaningful connections that drive innovation and progress. We humbly acknowledge that we will be leaning on the support of this community as we navigate the challenges and seize the opportunities that lie ahead. Let's join forces and make a lasting impact together.

Additional Comments

In closing, we would like to express our sincere gratitude to the ILP community for their invaluable support. Without your collective contributions and unwavering dedication, we could not have transformed our dreams into a reality. We firmly believe that our project is destined for success, and we invite each of you to join us on this transformative journey as we shape the future of digital wallets and payments together. Your support and the time you have invested in us over the past year have been truly invaluable. Thank you for being an integral part of our journey.

Relevant Links/Resources

ILP Channel: https://community.interledger.org/paystreme
Twitter: https://twitter.com/WalletGuruLLC
Linkedin: https://www.linkedin.com/company/mywalletguru/

Website: https://www.mywalletguru.com/

Email:

Fernando: fernando@mywalletguru.com
Emiliana: emiliana@mywalletguru.com

Revised Paystreme Ecosystem Infographic

Paystreme Progress Report

Fernando Almiñana — Fri, 03 Feb 2023 11:37:50 +0000

Hello everyone! The Wallet Guru team is excited to share with you our progress thus far. Paystreme is a payment streaming platform that enables users to pay in real time for utility services such as cell phone coverage, broadband internet, pay-TV, and content streaming. The company will initially target utility companies located in Latin America, where there are approximately 365 million prepaid subscribers in these four industries alone. These users typically pay higher rates than post-paid clients and could benefit significantly from an ILP-enabled payment system such as Paystreme.

Project Update

The Paystreme project is going well and progressing as planned. We continued researching the regional market trends and concluded once again that LatAm's history of economic and political uncertainty creates a fertile ground for innovative digital payments and the internet of value to thrive. We have also made considerable progress in understanding the intricacies of the ILP and researching for potential vendors, partners, and/or developers, to form part of the team that would be responsible for developing the prototype. Lastly, we are proud to announce that we recently won an award from the Stellar Development Foundation, which will also be supporting us in making Paystreme fully operational.

Progress on objectives

We have made considerable progress on most objectives specified in the original plan:

1. Business vs. technical requirements: After continuous research, the application's business and technical requirements are much clearer:

Our platform must offer a turn-key solution for utility companies that wish to enter the Fintech industry and must also be capable of integrating into existing mobile money platforms. The ILP is ideal for obtaining this interoperability.
The solution must offer both cash and local fiat on/off ramps. Fiat ramps must be present in the US and local countries in LatAm.
Wallets must support local currency and a stablecoin pegged to a hard currency (preferably to the US dollar - USDC running on the Stellar blockchain being the ideal candidate for numerous reasons).
Wallets must be able to stream funds to utility companies as services are requested.
As a medium term objective, we will incorporate a liquidity management tool such as Ripple's Liquidity Hub to optimize the flow of funds between currencies and jurisdictions.

2. Overview of the money flow from legal and license perspectives: We now understand that it is required to have custodial accounts to operate financial nodes in the Interledger Network. Also, it is now clear that to ease the regulatory requirements to use MoneyGram's network of 450,000 worldwide affiliates as cash on/off ramps; we will develop part of the solution as a non-custodial Stellar wallet (to use MoneyGram's licenses in all countries in LatAm and the rest of the world, the Stellar wallets necessarily need to be non-custodial).

3. Followup on OFR financial license application: We have finalized our application as a money service business in the Office of Financial Regulation of the State of Florida very recently. We expect to have our license approved within the next couple of months.

4. Funds flow between participants: The final architecture will be a hybrid solution: funds will flow from non-custodial wallets to custodial wallets in some instances and strictly between fiat accounts in others. However, we are still designing the final architecture, as we still need to test the Grant Negotiation and Authorization Protocol in ILP-enabled wallets and Rafiki. Also, we would like to test Payment Pointers before finalizing the architecture.

5. Leverage our relationship with Blue Guava (contractor): Blue Guava has aided us in researching design alternatives and technical/financial requirements for setting up the infrastructure required to run Paystreme. We have focused carefully on this crucial aspect, for the solution needs to be highly scalable and capable of supporting several million concurring users.

6. Understanding the STREAM protocol details and modeling; ILP Wallets and money transfers; evaluating ILP node configuration and activation: this crucial technical research and testing have been waiting for Rafiki to become fully operational.

Key activities

The most important activities we have done so far are the following:

Attending the ILP Summit in New Orleans: Attending the Summit allowed us to meet the ILP team and fellow cohorts. Doing so provided us with a direct line into the current state of the ILP and where it's headed in the future. Because of the Summit, we have also been able to expand our network and receive support and feedback from industry leaders.
We have filed our application at the Florida Office of Financial Regulation for a Money Services Business License. We have also decided to apply for a second license in a different state and are considering the State of Nebraska because of its openness to financial innovation. We continue to work closely with our Compliance Officer in hopes we can expedite the process.
Technical conversations with Alex Lakatos: Speaking to Alex on several instances has provided us with much-needed technical guidance. He provided indispensable literature and resources for our research and design process. During these conversations, it became clear that it would be possible to stream fiat funds using ILP (we were under the false impression that it would only be possible with digital currencies such as XRP or XLM).
Paystreme was selected as one of the winners of Stellar Community round 11, which had 152 submissions from 34 different countries. Being one of the 21 winners will allow us to streamline our integration into the MoneyGram Access program and Stellar's network of fiat ramps in all of LatAm. We are currently conversing with several ramps in Mexico, Colombia, Brazil, Peru, Argentina, and Chile.

Communications and marketing

We are currently focused on researching and determining the next steps for developing Paystreme and have dedicated limited efforts to the marketing process. However, the company was invited by the Government of El Salvador to meet with several of its representatives and important players in the telecom and private sector, which could serve as important allies when deploying Paystreme in Central America.

The company is also marketing its crypto payment gateway to several clients in Argentina. This simple solution enables clients to accept digital currencies as payment and settle transactions in USD or other local fiat currencies. Integrating into their billing systems allows us to upgrade to Paystreme relatively easily.

What's next?

To finalize our research process, we need to accomplish the following tasks:

Obtain final approval of our money service business license in Florida.
Begin testing Rafiki, ILP-enabled wallets and Interledger Nodes. For this, we need the proper documentation, which will be provided by Alex Lakatos when available (hopefully very soon for this is a crucial process). Once this stage has been completed we will be able to properly disburse the remaining funds.
Coordinate an in-person meeting in Madrid with ILF's and Paystreme tech teams.
Consolidate our development team by adding one or more Blockchain / Fintech specialists that can complement Blue Guava's (our main contractor) competencies.
In preparation for having the prototype fully operational, we have been shopping around for a more crypto-specialized bank partner that can support our operations. We have still not found a good fit for our requirements in the future.
Define the prototype development strategy: in house development vs. using a third party vendor for wallet application.
Request a budget reallocation approval in order to cover some activities that were underestimated.

What community support would benefit your project?

Any suggestions as to which US bank could be a good fit for our operations in USD will help us in achieving our goals sooner.

Also, we are in need of consolidating our development team and in search of specialized talent. Any recommendations will be greatly appreciated. WE ARE HIRING!

Additional comments

Paystreme's functionality diagram when fully developed:

Relevant links/resources

Paystreme Demo:

Wallet Guru — ILP Summit Reflections

Fernando Almiñana — Tue, 13 Dec 2022 16:59:56 +0000

Introduction

I'm Fernando Almiñana, from Venezuela and co-founder of Wallet Guru, a US fintech specializing in providing digital currency payment solutions for utility companies in Latin America. I attended the Summit along with Emilio Rubio, the company's founder. As newly awarded grantees, we wanted to get to know the ILP team along with the other cohort members and present our new project called Paystreme.

Key highlights about your participation at the Summit

Meeting the ILP team and its community was one of the most important highlights of the trip. Having the chance to interact with those responsible for leading and developing the ILP and propagating its use worldwide was humbling and inspiring. It will surely allow us to progress faster in achieving our goals with Interledger and its adoption in Latin America and beyond.

Another important highlight of the trip was having the opportunity to showcase our project, Paystreme, during the first day of the Summit. Being able to validate the idea conceptually and technically allowed us to fast-track our design process and fine-tune key areas of the business model.

We truly value all the information and feedback received during these days, as well as the relationships that were formed. The ILP Community not only took time out of their busy schedules to put together this event, but also created an environment of extreme insightfulness and dedication to all their guests.

Key takeaways from the Summit

Having the opportunity to get a feel of the current state of the Interledger ecosystem and where it's headed with future developments such as Rafiki, Dassie, and payment pointers allowed us to validate our team's vision: now is the time to build on ILP. The Foundation, its developers, and other stakeholders are setting the grounds to transform an idea into an innovation. We are very excited to join the ILP community in this earth-changing undertaking and look forward to building a solution that solves real-world problems and be leaders in pushing forward financial inclusion.

We want to thank the ILP Foundation for inviting us to the 2022 New Orleans Summit and allowing us to share Paystreme with the community. We hope to be able to attend future events and look forward to this journey as a community.

For more information about our company, please follow us on:
LinkedIn:
https://www.linkedin.com/company/mywalletguru/
Twitter:
https://twitter.com/WalletGuruLLC