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By XCAPIT Smart Pay
We propose to develop and launch our UNICEF-backed Smart Pay Solution (B2B2C) adapted to Stellar utilizing Soroban for customization, enabling secure, SMS-based digital asset distribution and management for NGOs and users with no internet access.
Open-Source Offline Smart Pay on Stellar
Xcapit x UNICEF Smart Pay on Stellar will enable humanitarian organizations to distribute digital assets through SMS, designed for users in low-connectivity regions. It leverages Soroban smart contracts for programmability, offering a pioneering Digital Public Good (DPG) on Stellar—a critical feature for NGO partners. Additionally, we are adapting the Reverse Payment functionality for merchant transactions on Stellar, simplifying the payment process and making it more accessible for customers with limited digital payment knowledge.
SMART WALLET:
Account Creation: Beneficiary account setup via SMS.
Payment System: Internet-free funds transfer; no SMS credit needed.
Trustline & Sponsored Accounts: Seamless asset reception with NGO-funded account setup.
Account Management: Simple SMS-based fund and account balance checking
Customization: Tailored smart contract capabilities based on NGO requirements
MERCHANT SERVICES:
Reverse Payment Functionality: The merchant initiates the payment process, and the user confirms the transaction amount, simplifying blockchain transactions for users with no knowledge of digital asset transactions
Secure Transactions: Reliable, real-time account balances and low-cost transfers
MANAGED SERVICE FOR NGOs:
Customization: Localization features and smart contract-based capabilities for custom requirements
Onboarding: Streamlined onboarding and efficient cash disbursement
Dashboard: Tools for funds traceability and management
Clawback and/ or Claimable Balances Functionality: Asset recovery for enhanced control
Yes
$147.0K
SUCCESS METRICS
1. Adoption & Usage (within the first 4 months)
NGOs: 2-4 partner NGOs piloting the solution on Stellar in key local markets within the first 4 months
End-users: Onboarding 10,000+ new users in LATAM
2. Performance Metrics
Transaction Speed: Fast and efficient processing of all Stellar transactions and Soroban smart contract customization
Transaction Cost: Transaction costs, including SMS, remain within the limits of the original Peru pilot
Clawbacks: Smart contract customization minimizes clawbacks while maintaining flexibility
Pilot Success Rate: Success rate aligns with the outcomes of the original Peru pilot
3. Ecosystem Engagement
Community Contributions: Active engagement and partnerships with the Stellar Ecosystem community to the open-source low tech wallet, expanding its capabilities and integration points
IMPACT
1. Increased Financial Inclusion: Enables underserved populations to access and use digital assets through a low-tech offline solution
2. Lower Technical Barriers: Simplifies onboarding for users and organizations with minimal technological infrastructure
3. Cost-Effective Transactions: Facilitates secure and low-cost transactions for NGOs, governments, and merchants
4. Enhanced Network Adoption: Drives broader adoption of Stellar, particularly in regions such as LATAM
5. Fosters Ecosystem Growth: Accelerates the expansion of the Stellar ecosystem by reaching new users and use cases, while offering a critical low-tech solution for existing partner organizations.
6. One of the First DPGs on Stellar: Potentially one of the first Digital Public Goods on Stellar, pending third-party certification.
TARGET MARKET
1. Stellar ecosystem partner NGOs
Needs: Access to low tech solutions for cash disbursement and managed service for regional/ local implementation and reporting
Value Proposition: Low-cost, managed local access to a scalable, open-source solution, significantly reducing time and technical complexity in accessing Stellar and Soroban low-tech custom wallet for cash disbursement
2. Xcapit partners: UNICEF, and more.
Needs: Access to cost-effective, secure transactions for international funds transfers, requiring seamless access to leading global digital assets for their operations and humanitarian programs
Value Proposition: Enable UNICEF to expand its global asset network with a highly efficient, low-cost solution for secure cash disbursement enhancing the reach of its global initiatives while driving the growth for the Stellar network
Needs: Efficient, low-cost solutions for managing public funds and disbursing payments to citizens or vendors, bypassing legacy systems and minimizing technological requirements.
Value Proposition**:** Provide a cost-effective, easily deployable solution for seamless fund distribution, enhancing transparency and efficiency while enabling local access to secure digital asset transactions, driving financial inclusion.
Needs: A fast, secure payment solution to facilitate cash disbursement transactions and offer payments to customers with low fees
Value Proposition**:** An innovative payment solution that allows merchants to quickly and securely accept cash disbursement funds, overcoming barriers for low-tech users and improving access for beneficiaries.
ACQUISITION CHANNELS
1. Stellar Ecosystem Partnerships
Collaborate with SDF: Align closely with SDF to promote the Xcapit x UNICEF solution with the broader Stellar network. Participate in ecosystem initiatives, hackathons, and accelerator programs
Partner with Stellar Ecosystem partner Block Time Financial: Offer SDP access to our existing partners, enhancing collaboration and expanding regional service offerings
2. Xcapit Partnerships
Leveraging established relationships with key partner organizations and governments, expanding reach, and driving adoption of our solution on the Stellar network.
3. Social Media, PR and Media Outreach
a) Press Releases: Announce significant milestones, including project funding, new integrations, and collaborations with Stellar ecosystem partners
b) Technical Blog and Documentation: Provide a step-by-step guide to the open-source solution, highlighting key features and capabilities
c) Digital Public Good (DPG) Blog: Spotlight the Xcapit x UNICEF partnership as a pioneering Digital Public Good built on Soroban & Stellar, showcasing its impact
d) Conferences & Interviews: Present the DPG wallet at impact-focused conferences and media interviews, emphasizing its role in advancing financial inclusion and innovation
d) Social Media: Expand our reach through social media posts on our official channels, complemented by active engagement from our team to amplify visibility and reach
STELLAR ECOSYSTEM BENEFITS
1. Boosted Ecosystem Innovation: Streamlines NGO, local government, and merchant onboarding with a managed solution that reduces friction, fosters Stellar ecosystem growth, and promotes financial inclusion through a low-tech wallet
2. Blockchain for Good Use Case: Leverages Stellar’s low-cost, secure blockchain to provide an abstracted, low-tech solution that promotes financial inclusion by enabling seamless, accessible offline transactions for underserved populations, while offering advanced traceability for nonprofit organizations
.
3. Regional Presence in LATAM: Expands the Stellar Network footprint in Latin America with a localized, global asset solution.
Our solution, a semi-finalist in the MIT Solve 2024 Global Economic Prosperity Challenge [1], has demonstrated its effectiveness with over 70,000 users across 167 countries [2], supported by UNICEF's Innovation Fund three times [3]. Featured in Stanford Innovation Magazine, we’ve expanded our reach through partnerships with governments and NGOs, and are finalizing an RFP with the World Food Program, as well as exploring integration into national aid systems in Argentina.
Our recent pilot in Cusco [4] achieved a 100% transaction success rate despite challenging conditions—facilitating offline transactions in remote areas with customers using basic phones [5]. Leveraging insights from this experience, we are strengthening our backend infrastructure, enhancing security, and optimizing user experience. We’re now expanding from Cusco to additional regions across Latin America and forming partnerships with key local merchant networks.
Additionally, we’ve been actively engaging with the Stellar ecosystem and product team at Circle’s Impact Competitions in New York and Washington DC, and Devcon in Bangkok. We’re also in discussions with Stellar ecosystem partners, such as Block Time Financial, to explore collaboration opportunities.
FOOTNOTES
[1] MIT Solve 2024 Global Economic Prosperity Challenge Semi-Finalist
https://solve.mit.edu/challenges/2024-global-economic-prosperity-challenge/solutions/88130
[2]...70K users across 167 countries…
https://drive.google.com/file/d/1xfWRhBJLTvOWQJINZ_IR3YurzgW5kOfY/view
[3] UNICEF Venture Fund Onboards Its Third Growth Cohort
https://www.unicef.org/innovation/stories/investing-blockchain-web3-and-ai-social-impact
[4] Our recent pilot in Cuzco, Peru
https://www.xcapit.com/en-blog-cusco-pilot
[5] Key Stats: SMS-Based Solutions
Offline Population: Over one-third of the global population—around 2.6 billion people—remain offline, with limited or no access to the internet, particularly in rural, low-income areas.
Adaptability to Low-Tech Phones: Entry-level smartphones, priced at around USD 50, equate to nearly a month’s income in many low-income countries. Approximately 600 million people worldwide still use feature phones (about 8% of the global population), especially in rural regions where network coverage and affordability are significant barriers.
Sources:
- GSMA | The State of Mobile Internet Connectivity Report 2023 - Mobile for Development
- International Telecommunication Union (ITU)
We propose a phased approach driven by insights from prior development, live solution testing, in-market feedback, and close collaboration with our NGO partner, ensuring a high-impact launch and smooth integration. Each phase incorporates real-world testing to enable co-creation with partner organizations while maintaining our solution’s performance standards. This strategy also enhances visibility across the ecosystem.
**TRANCHE 1 - MVP
**During the MVP tranche, we will focus on developing and deploying the Smart Wallet MVP on Stellar, incorporating core features such as account creation, trustline setup, clawbacks, and secure transactions. Additionally, we will begin exploring Soroban smart contracts and deploying our initial smart contract features.
Upon completion of this stage:
- the wallet is tested in real-life local scenarios with basic transaction functionality,
- we showcase the advanced functionality of our first smart contract on Soroban, and
- the code is available for public review
Estimated Completion Date: 65 days
Deliverables:
SMART WALLET:
Initial Smart Pay MVP on Stellar
Real-world testing meeting or exceeding pilot project results
Showcase our first Smart Contract feature
Proposed fixes during testnet tranche
MANAGED SERVICES FOR NGOs AND MERCHANTS:
Share video demo of functionality
Plus, documentation and open-source code available on GitLab
Total Tranche 1 Budget: $49,000
Budget Breakdown:
Development of Smart Wallet MVP, Security, and Infrastructure: $24,500
Core Feature Real-World Implementation Testing/ Ops: $17,000
(critical for engaging NGOs early and showcasing the solution)
Open-Source Repository & Demo Video: $5,000
Miscellaneous: $2,500
In this trance, we will deploy the Smart Wallet on the Stellar Testnet and set up a test environment for transactions. This will include payment validation, integration with Stellar LaunchKit, and performance testing.
This phase will involve:
- Performing initial tests to validate performance
- Monitoring and troubleshooting issues from real-life testing
Estimated Completion Date: 25 days
Deliverables:
Testnet deployment
Feature testing (payment validation)
Test results and documentation on GitLab
Total Tranche 2 Budget: $49,000
Budget Breakdown:
Test Environment Setup: $15,000
Initial Testing Adjustment (from Tranche 1): $16,000
DevOps, Monitoring & Troubleshooting: $10,000
Optimization: $3,500
Miscellaneous (Unexpected costs for security and tech infrastructure): $4,500
In this tranche, we’ll enhance our initial product by developing custom smart contract functionality tailored to NGO needs and incorporating advanced localization features.
This tranche also involves onboarding a select merchant network to ensure immediate go-to-market readiness following the mainnet launch. Additionally, it includes adapting key features requested by NGOs, such as the reverse payment functionality. This feature allows merchants to initiate transactions, enabling users to accept payments and conduct transactions without needing to understand the underlying blockchain mechanics.
Finally, we’ll complete full deployment of the Smart Wallet on Stellar Mainnet, with advanced smart contract integrations and streamlined user onboarding (B2B2C).
Estimated Completion Date: 60-90 days
Deliverables:
SMART WALLET:
Full wallet deployment on Stellar Mainnet
Feature testing (payment validation, smart contracts)
Smart Contract Enhancements
MERCHANT SERVICES:
Reverse Payment Functionality Adaptation
Enhancing security and usability to address known vulnerabilities, such as scammers exploiting reverse payment features
Limited Local Merchant Network Integration (off-ramp)
MANAGED SERVICE FOR NGOs:
Onboarding and user metrics/ dashboard
Additionally, this includes the open-source code, project documentation, and submission for DPG certification.
Total Tranche 3 Budget: $49,000
Budget Breakdown:
Smart Contract Development: $20,000
Limited Local Merchant Network Integration & Testing: $10,000
Client Set-up/ Ops: Onboarding, Customization & Management: $9,000
Mainnet Deployment and Infrastructure Optimization: $10,000
STRATEGY & OPERATIONS
Fernando Boiero
CTO and Co-Founder. With over 20 years in the tech industry, founder and director of Blockchain Lab and a university professor at Universidad Tecnológica Nacional (UTN)—top ranked University in Argentina. Expert and thought leader in cybersecurity, blockchain, and AI.
https://www.linkedin.com/in/fboiero/
Antonella Perrone
COO. Formerly at Deloitte, with a background in civil engineering, corporate finance and global business. A leader in leveraging blockchain for social good, featured speaker at UNGA78, SXSW 2024 and Re:publica.
https://www.linkedin.com/in/antonella-perrone/
ENGINEERING TEAM
Maximiliano César Nivoli
Technical Leader. With 13 years of experience, he specializes in working with Blockchain Engineers, Data Engineers, Python, Solidity, JAVA, PHP, Javascript, and developing Hybrid Apps for mobile (Android & iOS) and PWAs.
https://www.linkedin.com/in/maxi-nivoli-66695143/
Martin Brunori
Full Stack Software Developer with expertise in software architecture, APIs, and GUIs. Proficient in HTML5, Angular, GraphQL, Express.js, and experienced in algorithms, Unit Testing, PostgreSQL, and InfluxDB. He also engages in Blockchain projects using Solidity and SOLID design principles.
https://www.linkedin.com/in/martinbrunori/
Franco Schillage
SRE/DevOps specialist experienced in CI/CD, infrastructure management with Docker, Kubernetes, AWS, GitLab, and Terraform. Also a Full Stack Developer skilled in architecture and application development.
https://www.linkedin.com/in/francisco-anuar-arduh-192393174/
Francisco Anuar Ardúh
Machine Learning Engineer, Data Science Researcher, and Quantitative Analyst with a Ph.D. in high-energy physics. Specializes in AI and blockchain.
https://www.linkedin.com/in/francisco-anuar-arduh-192393174/
Arnoldo Benitez
Cybersecurity Specialist with expertise in industrial cybersecurity and critical infrastructure protection. Focuses on Ethical Hacking, Osint, Cyber Threat Intelligence, and compliance with standards like ISO 27001 and ISA/IEC 62443.
https://www.linkedin.com/in/arnoldobenitez/
Matias Genre
Full Stack Developer with proficiency in front-end and back-end development. Skilled in building scalable web applications and enjoys working in team environments while continuously expanding his technological expertise.
https://www.linkedin.com/in/matias-genre-4901a6176/
Andres Matterson
Full Stack Developer specializing in E-Wallet and blockchain applications, including IoT integration with Lorawan networks. Experienced in developing multipurpose blockchain wallets with automated asset management based on machine learning (DRL).
https://www.linkedin.com/in/andres-matterson-71b919229/
Natalia Gatti
QA Specialist focused on ensuring the quality and reliability of blockchain projects. Skilled in creating comprehensive test plans, executing test cases, and ensuring product integrity.
https://www.linkedin.com/in/natalia-gatti/
Lucía Ansaldi
QA Specialist responsible for reviewing and testing software projects. Pays close attention to detail, identifying and fixing issues to ensure system health and functionality, particularly in blockchain technology.
https://www.linkedin.com/in/luciaansaldi/
Xcapit
By XCAPIT Smart Pay
DPG Smart Wallet for NGOs: sUSDC Integration.