Real-time Bitcoin Purchase via SMS Premium
In an innovative venture, EMBIQ developed a unique tool that allowed users to purchase Bitcoin (BTC) through premium SMS services. This project was a fascinating exploration of integrating two distinct worlds - traditional SMS payments and the realm of cryptocurrencies.
Technologies used
BTC, GSM, Python
Tools
-
3
Project members
6 months
Project length
Software Development
Category
Telecommunication, Cryptocurrency
Branch
.png)
The challenge
The primary challenge was to create a seamless, real-time transaction process. This process involved receiving payment information, generating a Bitcoin wallet, transferring the appropriate amount of BTC to the wallet, and sending the wallet access back to the user. Our team developed a Python-based solution that handled these tasks efficiently. The system was designed to receive payment information via SMS, generate a new Bitcoin wallet for each transaction, transfer the corresponding BTC amount to the wallet, and then send the wallet access back to the user via SMS.
Working on this project was a great learning experience. It was fascinating to see how we could integrate the world of cryptocurrencies with traditional payment methods. Despite the project being put on hold due to the rising costs of Bitcoin transactions, I believe the knowledge and experience we gained from this project will be invaluable in our future endeavors
.png)
The result
The project successfully achieved real-time transactions between traditional SMS payments and Bitcoin. However, the project was eventually put on hold due to the rising costs of Bitcoin and particularly the transaction fees on the Bitcoin network exceeding the costs of premium SMS payments.
This project was a unique opportunity to bridge the gap between traditional payment methods and the emerging world of cryptocurrencies. It was a challenging yet rewarding experience to develop a system that could handle real-time transactions between these two different worlds
What kind of competencies are you looking for?
Contact me to discuss your requirements and build your dedicated IT team together with us.
Agnes
business development specialist
Beschreiben Sie das Projekt! Erhalten Sie Beratung.
Lassen Sie uns gemeinsam Ihr Projektkonzept und seinen aktuellen Status untersuchen.
Erwarten Sie von uns einen ersten Projektumfangsvorschlag sowie Zeit- und Kostenschätzungen.
Die Beratung wird durch eine Geheimhaltungsvereinbarung (NDA) geschützt sein.