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:
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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.
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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.
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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.
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Interledger Protocol Integration
- Current Status: Completed
- Details: The Interledger Protocol is integrated to ensure seamless payment routing and interoperability across different ledgers.
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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.
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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.
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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.
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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.
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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.
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