Undercurrent.ai has submitted a grant application to build a simple Zcash ↔ Bitcoin swap service. Undercurrent specializes in building security and privacy tools using a signal (signal.org) interface. This interface is optimal for conducting private financial transactions due to the ability to eliminate the attack or surveillance surface. Browsers are the main mechanism for gathering data on users and by transitioning to a signal based interface a user can remove the collection of their meta data, primarily IP data, usage data, and device data.
The final product will be a simple “chat bot” on the signal messenger platform. Once users message the bot they will be provided a small tutorial and be taken through the following steps:
- Upload a Zcash and/or Bitcoin wallet address for swaps
- Choose the currency to swap (starting with Zcash/Bitcoin)
- Bot provides address and user makes payment to address
- User waits for transaction confirmation
- User verifies payment has been received to their wallet
Please let us know what you think!