Technology

Blockchain

Industry

Finance

UR Allowance

The UR Allowance platform is a Smart contract that helps the parents, guardians and the teachers in creating a financial responsibility right from their childhood. This platform is used as a two-sided user interface (parents and kids) who can access it. It is powered by the URA deposited by parents. The URSuite assists the parents in setting up the tasks and goals with a customized financial plan. When a child reaches his/her goal within the set timer, the contract pays the kid which in turn can be spent on URA accepting partners.

Client Profile

Our client is a leading company following a simple concept of “U earn, and U learn” by Introducing Family-Smart* Contracts. With over hundreds of clients, the company aims to change the view upon crypto and to hold a vision to educate the world and empower today’s youth about the future of Blockchain Technology.

Overview

The main objective of the project is to incorporate the Blockchain Technology in our daily lives and the life of our future generations - Our children. In the present-day world, the parents and children are drifting apart farther and farther. And as parents, it is hard to manage the finances ahead. This application creates a financial responsibility within everyone and simultaneously embraces Blockchain Technology and cryptocurrency.

Key Challenges

As mentioned in the previous statement, the families have started to grow apart due to their busy schedules. The quality time with their children is on the decline. The children are always entitled to souvenirs even when they don't deserve it for their behavior. This does a temporary solution that causes major problems in time. The parents easily give in to their emotions and get their child whatever they ask for. This counter-intuitive habit leads to bad parenting.

Our Approach

As mentioned in the previous statement, the families have started to grow apart due to their busy schedules. The quality time with their children is on the decline. The children are always entitled to souvenirs even when they don't deserve it for their behavior. This does a temporary solution that causes major problems in time. The parents easily give in to their emotions and get their child whatever they ask for. This counter-intuitive habit leads to bad parenting.

Our Solution

We embrace the Family-Smart Contracts using Microservices based architectural model. We adopted a react native framework to build the native application. It provides extremely smooth animations and helps in code reusability between platforms. The frontend code is shared between iOS and Android. The allowance is provided for various tasks taken by the kids. There is an average allowance every week for task completion. A software automation tool is used to carry the deployments easily.

An optimum smart contract is developed for creating a better financial management for the parents and awareness in kids for the future in blockchain and cryptocurrency. It also creates a better responsibility in the children and tunes them in the right path by good parenting skills.

Technology Used

  • Ethereum
  • React-native
  • React-native
  • Truffle (web3 Js)
  • ethers Js
  • Koa Js
  • NPM Tools
  • Kubernetes container

Results

UR Allowance wallet is created and a to-do list is updated for the children to take up the tasks. It is linked with eCommerce sites like Amazon for easy, flexible purchases. There are also tutorials available on how to manage URFinances. And URBlog is a subdomain that lets kids to write up, URForum to discuss and chat about cryptocurrencies. URWorld creates an avatar to represent themselves.

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