Overview

Understanding Mobile Money Payments

Mobile money payments are a form of digital currency, primarily used through mobile devices. This system allows users to store, send, and receive money using their mobile phones, often without the need for a traditional bank account. It's especially popular in regions where access to banking services is limited. Mobile money provides a convenient and accessible way for people to manage their finances, pay for services, and transfer funds.

Bridging Mobile Money to Blockchain

Our solution innovatively bridges mobile money transactions to the blockchain. This integration ensures that transactions, traditionally managed off-chain, are recorded on a secure, decentralized ledger. By displaying these transactions to the blockchain, we bring enhanced transparency, security, and traceability to mobile money payments.

Issuing Soulbound Tokens Based on Payment Conditions

A key feature of our platform is the ability to issue soulbound tokens reflective of payment behavior. These tokens are unique in that they are non-transferable and are permanently associated with a user's wallet. They serve as a testament to a user's payment habits and reliability.

Types of Soulbound Tokens

• Early Token: Automatically issued when an invoice is paid within the first 15% of its due period.

• Paid Token: Automatically issued upon full payment of an invoice.

• Paid Late Token: Automatically issued if payment is made after the invoice's due date; this token automatically expires after a set period.

• Overdue Token: Automatically issued when an invoice remains unpaid post due date, significantly impacting credit score. Transforms into a Paid Late token upon eventual payment. Only the invoice issuer has the authority to remove this token.

Enabling Peer-to-Peer Credit Scoring

Our system empowers users to participate in a peer-to-peer credit scoring mechanism. By analyzing the soulbound tokens associated with each user, individuals can assess the creditworthiness of their peers. This decentralized approach to credit scoring democratizes the evaluation of financial trustworthiness, moving away from traditional, centralized credit scoring methods. Users have the autonomy to determine each other's scores based on real transactional behavior, fostering a community-driven and transparent financial ecosystem.