Vault3 - Pay everyone at once
Short description
A community can now be a country and capture value for themselves, but they currently have their value extracted for others’ benefit, like the banks, big businesses and others. We need to fix this, and the first part we need to fix is the payment rail which extracts 10% or more from the community before we can create governance and an economy to benefit all.
Team
Peter Tippett - Co-Founder - Technical Expert @petert
Phil Goodwin - Co-Founder - Domain Expert
Long Description
Vault3 is bringing a new pay-everyone-at-once payment rail that removes all intermediaries and allows direct value transfer and connection between each, resetting the worth value and allowing value to stay inside the community and creating a 10% saving in costs.
We are starting in the Yoga space as we already have a $5M Yoga business, which we will apply to generate a $450k saving. Also, part of the process will allow the teachers and students to become owners in the business through a DAO and share in the rewards of a successful community, as that then has a real impact of breaking to old tension-based model.
Yoga is a $40b industry globally, and this new model will allow teachers to become the drivers instead of the landlords and financiers who just care about how much they can extract from the community.
But we believe community is the way of business and we need frameworks to make this work.
Technical Implementation
This is based on a Community Wallet for each community with its own stablecoin using the Celo Stable contract as the basis.
Runs on the Celo chain for the handling of this and is running off the Google Cloud with full security implementation. The App is built using Flutter and reads data from Firebase that is updated from the main databases as needed creating a separation between systems.
Next Steps
This is to complete the stablecoin implementations for each community wallet that is linked to a bank account with proof of reserves starting in Australia as there is no Celo stablecoin for this and then will allow us to work in any country. We will then start rollout to our local Yoga business, starting with the teachers first to gather hard proof.
Asks
We are starting the fundraising stage and looking for the right partners to make this work.
Slide Deck https://brieflink.com/v/6mq2o
Contact us
https://linktr.ee/petertippett
Peter Tippett - Co-Founder - Technical Expert
Phil Goodwin - Co-Founder - Domain Expert
