Hawala.Today — Removing the Middleman

INTRODUCTION

Over the past few years, cryptocurrency and the blockchain has progressed significantly. With the value of Bitcoin racing to the skies, the rest of the world has just begun taking interest in the technology. The Ethereum block chain, under the guidance of Vitalik Buterin, opened up new possibilities for developing decentralized applications. Since then, we’ve seen a large amount of new coins and tokens (altcoins), some based on the Ethereum platform and some branching out to other blockchains.

Numerous projects have emerged targeting the massive potential of cryptocurrency, financial and security, at various angles. These vary in the size of audience they are targeting. Many of the successful projects lean towards a technical audience. Understanding crypto and the blockchain, for a non-technical individual, can be overwhelming. Even the basic knowledge requires a general understanding of programming, at the very least. This is one of the reasons cryptocurrencies are not getting widespread adoption.

Hawala.Today offers a way to tackle a major disconnect between global adoption and crypto — accessibility. Purchasing Bitcoin and other cryptocurrencies is not as easy in most of the world as it is in the North American and European markets. The financial systems across a large portion of the world are not very efficient or willing to adopt to a new financial platform besides the existing fiat currency. One of the main goals of Hawala.Today is to facilitate the average user to buy into crypto without the hassles of institutional financial systems such as high fees, delayed transactions and the likes.

An application is being developed for desktop, web, iOS and Android. This will be the main interface to communicate with the exchange. Below are some key features that contribute to the simple and efficient design.

FEATURES

The application is driven by three core elements:

Disclaimer: Mobile app design is a work-in-progress and is subject to change

Discover Mode

This feature is a lot like using Uber to call a ride. The user writes up a contract, for buying or selling, and sends it out to nearby traders. Once a bid is made, the user enters interaction with the trader and can choose the exchange methods and terms. Upon mutual agreement, the exchange is made. All this is done within minutes, saving the user lots of time and money.

Wallet

Disclaimer: Desktop app design is a work-in-progress and is subject to change.

The Hawala wallet is ERC-20 compliant and offers a wide range of options. It includes management of token wallets, local bank account/credit cards and staking. Staked HAT tokens drive the Incentive for Stake (IFS) model which rewards proportionately to the amount staked. Having a diversely functional wallet promises a stable future.

Disclaimer: Mobile app design is a work-in-progress and is subject to change.

Exchange

The Hawala.Today Exchange is the first real time P2P crypto-fiat currency exchange. It enables users to buy directly from each other eliminating any fees* along the way. All integrated tokens will be trackable live through the exchange. This is where you get all your information regarding prices, market trends, and news.

We have gone over several aspects of what the application offers in contribution to functionally improving exchange methods. Now to explore some of the practical usage potential.

*Exchanges on the Ethereum network require gas to be paid in ETH.

APP DESIGN

Hawala.Today offers a platform that can be used by any individual, group or organization without having to understand the technicalities behind it. As mentioned before, widespread adoption will only occur when the common public gets involved. For that reason, the application is based on a simple design with linear processes. It neatly separates the different categories and is aesthetically very pleasing. Overall, the design accurately guides a non-technical user through the various options and features available.

CASH CARDS

Cash cards are a brilliant feature, perhaps even my favorite. Imagine being able to buy into crypto by simply topping up your Hawala wallet with a fiat amount with a scratch card you just bought at the store or online. From there you simply use the fiat money to purchase crypto. It’s that easy. Hawala Cash Cards will eventually be available in most countries of the world.

BUSINESSES

Hawala.Today offers businesses, small and large, a viable platform for payments, especially when they are in the early stages of adoption to crypto. With our easy-to-use app, they need not even hire specialists to handle their crypto payments system. This saves them from a lot of costs and encourages them to operate on the decentralized network.

HAWALADARS

In the old payment system, from which the exchange draws inspiration, Hawaladar was a name given to the intermediary Hawala agent who offered his services. In Hawala.Today, the name is given to individuals who have earned the community’s trust and are well-known for the diverse exchange options they offer. These individuals, by nature, will be the preferred traders in their region. This is intended to offer those new to the Hawala community, a sense of security and trust. Hawaladars are also the most likely candidates for maintaining large amounts of staked HAT tokens.