Blockchain Based Mobile P2P payments system


Hi all,

I’m a little new here. Well not so new because I read mostly but this is my first post.

Our company (Digital Encode) recently developed a mobile p2p payments system based on the blockchain. We are at the moment conducting a soft launch.

It’s basically an e-wallet that operates pretty much like a cryptocurrency wallet but using the local Naira. Unlike cryptocurrency, this is fully backed 1-to-1: that is, you deposit N1 (fiat) and you get back in your wallet N1 (digital). You can then transfer this to anyone and make payments with QR codes. Anyone may convert the digital Naira back to the paper Naira by redeeming it.

Download the app and Read the Blog

You can download the ShiftBlockchain app from the Google Playstore and create a wallet. If you post your address (wallet ID) here, I will be able to fund you with real money free. The funds will be fully redeemed when we launch soon.

This needs no bank accounts, no cheques, no ATM / debit cards. It’s digitized cash based on blockchain technology. More details on the blog posted above. Please try it out.

Thanks guys.


I am wondering why you are using a Blockchain? From your explainination you basically operating a center based system where all the funds (Naira) still resides with you. Apart from the data integrty gain when doing transfers within your wallet that the introduction of a Blockchain legder can bring i dont see why you went that route.

The whole idea of Blockchain was disintermidiation (i.e removing middle men ) on all transactions, so transactions from bank A can be settled in bank B secuerly without a switch or 3rd party and , however in this case (unless i can buy tomatoes with your wallet credits) you are the 3rd party.

Then again you might be trying to create your own crytocurrency and the “Why” question still pops up.

That said i have download the app, all i see is an address no wallet ID, what do i post to get my free money :slight_smile:


@codegidi Thanks for the reply. The address is infact the wallet ID. It starts with a 3… Post it and I will send some funds.

Furthermore, currency is really the first implementation. Think a central bank backed digital currency. We are only serving as the custodian of the fiat currency held in a trust account. We envisage a day when you won’t even need to trade out of your wallet (that’s not going to be anytime soon btw) where you can basically use the digital currency like you would cash stored in your physical wallet. There’ll be no need for banks or clearing houses because it uses the blockchain. Other possibilities include digitizing gift cards, bonds, stocks, air miles, tickets etc.

I really appreciate your comment. Thank you.


Interesting. What blockchain are you guys building on? Public or Permissioned? Are you an open source project? Answers to these questions would help me understand the need for a blockchain and possibly ask further questions.


it’s entirely built on the public blockchain based on the scorex protocol . It’s public as well. The blockchain is entirely open source. @ncodes


Okay, that link led me to a blockchain framework. I guess I will go further to ask:

Scorex protocol is open and since you say “the blockchain is entirely opensource”, Are you going to have a public network built on these protocol and allow anyone access to your source code as with almost all blockchain-based digital currency technologies?

If yes, why would you want to have a public blockchain when you don’t seem to need any mining capability? Keep in mind that a public blockchain means anyone can participate in keeping the network operation, secured and are compensated with the currency.

If you are not releasing the source code, publishing a whitepaper and bootstrapping a public network, why do you need a blockchain? You can effectively build your services without the troubles of a blockchain outside a decentralized environment.


Good questions @ncodes We originally developed the concept on the bitcoin blockchain with colored coins (using open assets) and then Counterparty protocol but the Tx fees became too high and coupled with blockchain confirmation times, we eventually abandoned that route.

We then toyed with the idea of building it on ethereum as an ethereum DApp. We however discovered Scorex and also a fantastic implementation of it in Waves. Waves platform is a proof-of-stake / leased POS system. You can pretty much build anything on it. That’s what I meant by “the blockchain is entirely opensource”

The blockchain serves as the infrastructure for the wallet. Would have been impossible to build the infrastructure outside of the decentralized environment. By using Waves it cuts time to market to. One can focus on the customer side of token creation and management. Our wallet whitepaper (Shift Blockchain Wallet) is here


I have a clearer picture of what you are building and how you are doing it. In the future, it might be helpful to add some information about your blockchainess whenever you mention your use of a blockchain :slight_smile:

Seeing that you have moved from CounterParty to Ethereum and now Waves, is it safe to say you are in pursuit of:

  1. Immutability
  2. “Trustlessness” or delegated trust
  3. “Blockchain title”

If 1 or/and 2, would you still consider these platforms if AWS or GCP offered an immutable database service offering faster transaction speed?

If 3, e no hold water for this place o :slight_smile:


To be honest, AWS/GCP are still centralized services that may just yank me off anytime without recourse (however unlikely that is). We also really didn’t want to have to deal with any kind of backend infrastructure and security issues rather letting the blockchain do the heavy lifting so we can focus completely on developing a usable frontend. I also like the fact that there is no central point of control. We wanted it to be based purely on the blockchain (whether NXT or Ethereum or Bitcoin or Waves) and that’s why we iterated through the different embedded consensus systems right up to what we now have. Transaction times are fast too and fees are quite low and of course zero infrastructure support costs.

Secondly, perhaps more importantly, We have a blockchain bias :slight_smile: and I personally feel it’s got the potential to disrupt and disintermediate not just financial services but pretty much how business will be conducted in the future. Eventually, we hope to have mainstream adoption something akin to central bank backed digital currency

Cheers man!


If you are not doing anything illegal (like evading regulations) and you pay for resources consumed as it is done on Ethereum, you will be just fine and have no reason to build on a public blockchain.

People in blockchain talk about the evils of centralization to justify its use beyond bitcoin. Similarly, NoSQL was hyped to kill RDBMS, but instead it’s just another database we ignore when we need do serious work. The same thing is happening with blockchain, we hear alot about how it will cure cancer but in my opinion, the blockchain would take a similar position.

The only reason a public blockchain is fast is because of the lack of activity. Increase volume of transactions to Visa’s scale and we’d have transactions taking days to complete.

In any case, all the best with the product :+1: