The Ethereum Burner Wallet is a great library for building temporary wallets. The temporary wallets can be used to onboard people into more advanced wallet setups and also as temporary account for one-time events.
The Burner Factory by David Mihal also includes “plugin” architecture to for easier integration with other Web3 technologies
The Fuel Labs team recently announced tools for quickly creating optimistic rollup applications.
A great combination for creating “insta-economies” via token specific point of sale systems.
As a Community Organizer I want to create both real-world and digital-world meetups. At the meetups I want to enable people to easily exchange digital currencies for goods and services. Additionally I don’t want to add unnecessary friction and costs to the interaction. The interactions should match the user experience of today’s popular Point of Sale Systems, while also providing additional benefits i.e. low or zero transaction costs.
Use Case Hypothesis
Hypothesis: A Burner Wallet and Fuel Labs zkRollup integration can enable better “insta-economies” point of sale systems for events that require token specific transfers for goods and services.
For example in the Bay Area it’s possible to 2x the value of SNAP (the California issued Food Token) at local farmers markets. In other words for every $10 worth of SNAP, event attendees can get $20 worth of FRESH (example name, but actually happening) to buy fresh, local produce during a 4-7 hour time window.
At numerous farmers markets located in North, East and South Bay, residents redeem physical tokens from a program administrator. The user purchase physical FRESH tokens with digital SNAP tokens. The user purchases fresh product using the physical tokens. The vendor, at the end of the event, trades the program administrator FRESH tokens for USD tokens.
“Some markets offer Market Match, a federally-funded nutrition incentive program that
DOUBLES the value of CalFresh purchases at participating farmers’ markets. For every dollar of
CalFresh scrip that a customer purchases, they are given an extra Market Match dollar, which
can be spent only on fruits and vegetables. The maximum match level varies by market.
At many markets, this means that for every $10 of CalFresh benefits spent, the customer gets
$20 worth of healthy food! Check with the market manager or go to FMFinder.org for more info.”
It’s a costly and inefficient process, that also includes significant human resource overhead.
An Ethereum token management system is viable for solution Governments make this system better.
A Burner Wallet and optimistic rollup integration could replace the expensive setup that currently exists for the SNAP <> FRESH <> USD liquidity pool. Enabling government to reduce operation costs, increase access to data (what food is being purchased) and create a better user experience for everyone involved.
Next Steps for Minimal Viable Product
The next steps for a minimal viable product are:
- MVP BurnerFactory & Fuel Labs zkRollup Integration
- Design “Insta-Economies” User Interface
- BurnerFactory Plugin to handle requests/responses to zkRollup Endpoint
- AWS Lambda for Fuel Labs Node Server