ecoo: Tokenizing Earmarked Funds on Tezos
What if you could pay for your next cup of coffee with a mobile app built on Tezos? This Session dives into ecoo, a digital voucher experiment from Papers/AirGap that tokenizes earmarked funds on Tezos for Swiss residents to redeem at local businesses.
Papers’ own Alessandro De Carli discusses how the project can help incentivize local economies, the value of building a user-friendly experience, and how this innovative technology could expand the way Tezos is used for transactions.
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Session Notes
1:13
Alessandro introduces Papers.
2:21
Alessandro presents ecoo, a blockchain-based (mostly Tezos) mobile payment system, and a joint effort of Papers, duda, and Farner.
6:11
Deep dive in how to use ecoo.
9:51
Alessandro describes things that need to be considered when building a project on blockchains from three categories: the Good, the Bad, and the Ugly.
15:43
Alessandro talks about three solutions: Tezos FA2 smart contract; Meta-Transactions, and Recovery Authority.
21:33
Alessandro concludes that with ecoo, all ‘Bad’ has been solved by Meta Transactions and Recovery Authority; all ‘Ugly’ has been solved by Tezos’s Delphi proposals and Paper wallets.
23:28
Alessandro talks about the current state of ecoo and the exciting launch of the pilot project.
24:08
Alessandro introduces the Pilot project in a Swiss city Wetzikon.
25:33
Q&A Session:
Moderator Alison Mangiero asks Alessandro questions from community members.
Q: What does the future look like for your project?
A: Companies across all industries will be interested in this blockchain-based mobile payment system because it’s a secure payment that requires no bank cards, just a mobile phone.
27:21
Q: How long will this experiment of the pilot project be for, and if it goes well, is the town of Wetzikon interested in moving forward with its use with things like America's food stamp program or other types of programs?
A: The pilot project is for 3 months. We hold a very positive view of our future projects and we will do our best to help entities build better use cases.
28:40
Q: As this program is voucher-based, does that mean it’s restricted to specific business?
A: Yes, restaurants and shops in Wetzikon initially have balances on the Tezos blockchain, but after 3 months, they will be able to request payouts on their bank accounts.
30:08
Q: Are the transactions reversible?
A: For the pilot project, no.
30:57
Q: Is it possible to use this project for insurance and other financial products?
A: Yes it’s possible.
31:53
Q: What are the roles of these three teams working on ecco?
A:
Papers: A software company focused on blockchain and mobile security.
Duda: It is a Switzerland-based digital agency that focuses on user experience with innovative ideas. The team negotiates with different cities for building projects.
Farner has a good relationship with various cities. If the pilot project goes well, they will develop more use cases in other cities.
35:08
Q: How easy is it for you to sell the ecoo project?
A: The compelling point is that building a transaction system with a blockchain ensures security, and the security concept promotes the reputation of companies or cities.
37:46
Closing remarks
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Contact info of Alessandro De Carli, CEO & Founder of Papers & AirGap: [email protected]
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