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Discussion on: Kult β€” Grant Report #1

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Patrick Rahy Author • Edited on

Hey Chris! Now that we implemented all ways of monetization on Kult using WM, and delivered our final report, I think we have a better understanding of what could be done to leverage the experience.

Considering people's feedbacks and studying the UX of WM, we believe that most of the struggle to adopt the technology is related to the amount of barriers one must surpass to send and receive money, and the fact that it is not yet available for mobile users.

So our idea is to develop a native ILP-based digital wallet on Kult. Instead of having 3 or 4 steps to transfer money like it is today, people would have only one step to fulfil: adding the credit/debit card info to this wallet.

From this moment on, people would have many ways to use money on Kult (donations, tips, accessing exclusive galleries, etc). And the person would be able to specify how much he/she wants to charge/transfer, instead of having a fixed amount.

Of course, like Kult, this solution would be 100% open source, so that any platform can easily implement it.

In order to receive the money, we seek to integrate this solution to PIX (an open, digital, free, and instant payment method recently created by Brazilian Government and used by almost everyone in Brazil), through its open API.

This is the basic idea behind the proposal we applied to the next Grant opportunity.