Fiat-to-Crypto Payment Processing

This is a MVP demo for the Fiat-to-Crypto Payment Processing Protocol.

The Fiat-to-Crypto Payment Processing Protocol(PPP) is a payment system that enables buyers to purchase blockchain related digital assets or services with credit cards while sellers receive stablecoin payments.

The goal is for users to pay with a credit card to remove the need of connecting a wallet and buying+swaping crypto.

As crypto-wallets need an above the average technical know-how for operation(set-up, secure pass-phrase, funding, connecting), this project is intended to allow more individuals to acquire and use blockchain related products, potentially removing some of the friction for non-crypto users and  increasing adoption.

Users will still need to own a wallet/address to receive the assets, but in this example and probably other use cases they won’t need to connect it to the selling app or service.

In order to better understand how the Fiat-to-Crypto Payment Processing works, the MVP simulates buying tickets as NFTS on a ticketing platform. While there is no website that sells tickets, to mimic and simplify the buying process, a Stripe payment checkout page is used.

During the checkout process the user is required to enter the wallet address, to receive the NFT ticket. But they will also have the possibility to enter their email address to receive the corresponding metadata of the ticket. This metadata info like QR code, date and time, seats etc. is sent via email in case the user doesn’t want to use the NFT for validation at the entrance. Instead they can use the info received by email.