I DID IT

Demo 2

Decentralized Identity Money Transfer

In this demo, you will:

🗺 Setup a Foreign Account
💸 Send Money
🔁 Exchange with Local Currency
🛒 Make A Cross-Broder Purchase

header illustration 2

Digital Remittance VS Money Transfer App

To understand the value of a decentralized money transfer app, let's look at how a money transfer works comparing a digital remittance using Western Union compared to a peer to peer transaction. It's easy to see why Western Union costs more, requires more middle market partners and has limitations on amounts and timing. With peer-to-peer, its instantly gratifying.

money transfer compare

1. Download Your Wallet

If you haven't already, the first step to start is to download and setup your decentralized identity DID Wallet. Follow the prompts and move to the next step.

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Wallet Setup

on boarding process

2. Setup Your Account

To start, lets setup your wallet and deposit some currency into your app. There is no need for a platform or to enter extra personal information. Note, we don't store your data and you confirm everything you share.

3. Send Money

Now that we've setup our account and added money. Let's send someone some money. Using their address, and you can make a transfer almost instantly anywhere in the world.

mobile screen send request

4. Exchange with Local Currency

Sometimes, you will need to convert your currency to another one when sending or receiving money. Use the button below and scan the QR Code to use your AUSD currency to buy a new currency LBD. Now, confirm the request and verify your deposit. It's pretty easy.

5. Shopping Cross Border

With services like Western Union, you can also buy a prepaid account card with local currency. With your wallet, it's even easier to purchase goods in a local or different currency. In this example, we will make a purchase using the foreign currency we purchased.

6. Your've tried it. Now, build it.

In just a few minutes, you can build your own Cash App experience. ArcBlock makes it easy for anyone to develop applications including your own Cash App. The Currency Blocklet is a full-stack javascript DApp template with ArcBlock's SDK fully integrated. Try it now!

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