Name: Payvo
Domain: Payment Systems, Cryptocurrencies
Motivation: Simplify and increase access to stablecoins by offering fast, secure, and inclusive financial services.
Project Goal: Build a stablecoin payment platform that enables peer-to-peer transfers without relying on traditional banking infrastructure or crypto infrastructure.
Payvo is within the payment systems domain and is a Venmo-style like app that lets users send and receive stablecoins instead of dollars, making crypto payments simple, fast, and accessible for everyday use.
Alex Reyes, Adam Minter
GitHub Repository - https://github.com/Ad970887/COP5818-FinalProject_Group15
Stablecoins are a type of digital cryptocurrency that is designed to keep a steady value and does so by being backed with a real currency like the U.S. dollar. This makes Stablecoins useful for everyday payments and savings, especially in countries where local money loses value quickly. Our platform works like a payment app (like Venmo) but instead of regular dollars, it lets people send and receive stablecoins easily and safely, without needing to understand the complex crypto technology and world.
Stablecoins are becoming a major part of the FinTech landscape because they offer the same global reach of cryptocurrencies without the volatility or price swings, which makes stablecoins ideal for payments and savings, rather than investments. As digital finance continues to grow, platforms that allow sending and receiving stablecoins will fill a demand in the market. On top of that, being able to easily and quickly convert between local currency and stablecoins can help users navigate and hedge against increasing global currency volatility and worsening economic conditions.