Ghotel

This project is created to demonstrate how Purpose-Bound Money can benefit government campaigns in endorsing economic stimulation for the country. Thailand has a tourism stimulation campaign named "We Travel Together." The campaign supports Thai citizens with travel expenses (flight, hotel, and food) by covering 40% of the payment. The campaign has been successful in stimulating the travel economy in the country and raising millions in circulating money. We believe it would be even more beneficial to allow foreign travelers to join the campaign. However, the existing system is limited to Thai citizens and has a closed infrastructure that only accepts Thai Baht. To enable wider usage, we propose using a stablecoin to overcome currency issues. In this work, we have selected "GHO" as the stablecoin for the campaign due to its good price mechanism and support for seamless interactions, such as signature transfer (permit) and cross-chain transactions.

To address interoperability issues, we adhere to the Purpose-Bound Money (PBM) standard initiated by the Monetary Authority of Singapore (MAS). This standard provides a flexible interface that is easy to integrate. The stablecoin is wrapped into PBM, which contains similar logic to the We Travel Together campaign. Foreign travelers can register on the government portal and receive PBM as hotel, flight, and food discount vouchers. When they pay for hotel, flight, and food, they can attach the corresponding voucher to the payment and receive a discount. Once a registered merchant receives a voucher, it automatically unwraps into a stablecoin if the conditions are satisfied. Using PBM to implement the We Travel Together campaign unlocks the potential to accept payments from foreigners, stimulating the economy by injecting external money into the country. Moreover, using the PBM standard reduces integration costs for upcoming infrastructure, as all stakeholders conform to the same set of standards. This accelerates the scale of the campaign quickly. Importantly, all accounting is done automatically through smart contracts, reducing the burden of accounting and costs.

1. Next JS - Web frontend and API server: Web Frontend: Next.js is a React-based framework for building web applications. It simplifies the development process by providing features like server-side rendering, automatic code splitting, and a simple API for building static websites. In the context of Ghotrip, Next.js is used to create the user interfaces of the various components, such as the government portal, OTA system, and wallet interface. API Server: Next.js allows for the creation of API routes, enabling seamless communication between the frontend and backend. These routes are used to handle data requests and perform server-side logic. In Ghotrip, Next.js serves as the API server to manage interactions between different components and the underlying database.

2. MongoDB - Simple Database: MongoDB is a NoSQL database that stores data in a flexible, JSON-like format called BSON. In Ghotrip, MongoDB is utilized as the database to store and retrieve information related to user registrations, travel vouchers, and other relevant data. Its flexibility and scalability make it suitable for managing various types of data associated with the campaign.

3. Wagmi - Web3 Connection: Wagmi is employed for establishing a connection with the Ethereum blockchain or any other blockchain that supports the Web3 standard. Web3 allows the frontend to interact with smart contracts on the blockchain, facilitating operations like token transfers, contract interactions, and data retrieval. In Ghotrip, Wagmi is utilized to connect the frontend components with the Ethereum blockchain, ensuring seamless integration with the blockchain-based functionalities of the project.

4. Family - Wallet Connection:

Family serves as a tool for connecting the Ghotrip project with cryptocurrency wallets. This connection is crucial for users to manage their GHO tokens, interact with smart contracts, and perform transactions. It enables functionalities such as checking balances, making payments, and receiving payments within the GhoWallet frontend. Family likely provides a convenient interface for users to manage their crypto assets securely.

1. Hardhat - Smart Contract Development:

Hardhat is a development environment for Ethereum that facilitates the creation, testing, and deployment of smart contracts. In Ghotrip, Hardhat is used for smart contract development, ensuring the reliability and security of the code that governs the logic of the Purpose-Bound Money (PBM) standard, token transfers, and other essential functionalities. Smart contracts are integral to the automation of processes and the enforcement of business rules within the Ghotrip ecosystem.