So I’m working on a project to hopefully provide a more familiar interface to crypto currencies. I had developed this initially for Bitcoin, but due to the whole Core/BU crap that’s been happening I decided to dump it.
The project consists of ATM’s (CTM/Coin Transaction Machine really as it is nothing like a banking ATM in function), card terminals, hosted services, mobile apps and potentially the use of an actual coin to transfer value.
Current project status is very much alpha/internal testing.
CTM software working, accepting notes/cash and spitting out crypto direct to scanned address or to paper wallet. The buy function is partially working. It generates addresses and displays/prints a QR code to scan and send coins. I kind of messed this part up and generated addresses then added them to the core client rather than asking core for a new one, so it has trouble checking to see if payment has been made and confirmed. Also without having access to a note recycler It just prints out a receipt to hand to the machine operator to get paid in fiat cash. As the Bank of England have recently withdrawn the paper £5 notes, and plan to withdraw the 10’s soon, my older note validator is now useless. Development has stopped for now as I need to compile the client from source to get access to the Testnet, and get hold of a new validator unit.
Card terminals are what is currently being worked on. I have a bunch of Ingenico hardware to develop with and work is going nicely. I’ve spent a while experimenting with the hardware and have now started from scratch on an actual functional system. It uses smart cards to process crypto transactions in the same way that EMV works. Currently the system has to work like the banking system with values being held in accounts. The back-end checks for funds and if present, sends them from one account to another instantly. I hope to be able to create a trustless inter-service payment system where by several services can offer this payment method, and not rely on trust between them to credit and debit accounts. Currently the banks have to trust that once a payment has been made between them, that the sending bank will actually debit the senders account, I would remove this need, but still allow for an instant account credit while the blockchain does its groovy stuff and mines some blocks.
Not much to say about hosted services, they will be hosted wallets and the back-end for the card payment and CTM network. The exact workings of this will be kept, for obvious reasons, rather much secretive.
No development on mobile apps, I’m apparently utter bollocks at UI design on small screens. I have made some progress with testing applications though. Just basic data between Android app and basic server software.
I’m looking for input and any suggestions. Project is in early stages and nowhere near ready for an official announcement, however I’d like to get some thoughts and feedback on it. Things are likely to change however above is my current plan and progress.
Any input is appreciated