SplETH

Try it yourself! https://slickthree.github.io/SplETH/

Problem statement:

• Initial funding of private events is usually an investment of 1 person. (Booking accommodation, car, programs, etc)
• Cost splitting applications (e.g.splitwise) do not integrate payment systems for settling up.

Solution proposal:

• Initial funding of events with allowance through a multi signature smart contract
• Settling up by smart contract.

We are excited to present our proposal for developing a smart contract application of a multisig wallet. Our multisig wallet is a secure and flexible wallet that allows users to invite friends and spend their funds together based on different criteria. This innovative concept is designed to address the limitations of traditional wallets and offer a user-friendly platform for managing digital assets.

Our multisig wallet will operate on the Ethereum blockchain, leveraging the power of smart contracts to ensure transparency, security, and automation. The smart contract will enable users to create a multisig wallet and invite trusted friends or family members to join as co-owners. The multisig wallet will require multiple signatures from the co-owners to approve any outgoing transactions, ensuring that all parties have consented to the transfer of funds.

Furthermore, our smart contract application will enable users to set up spending rules and criteria, such as a minimum number of signatures required to approve a transaction or a spending limit per transaction. This feature will offer flexibility to the users and help prevent any unauthorized spending or misuse of funds. Additionally, our multisig wallet will also support the use of smart contracts for escrow and crowdfunding purposes. Users will be able to create an escrow contract with predefined terms and conditions, such as a release of funds based on certain milestones or timelines. Similarly, users will be able to create crowdfunding contracts to pool funds from multiple users for a shared cause or project.

We believe that our multisig wallet smart contract application has enormous potential in the growing cryptocurrency market. Our user-friendly platform will appeal to both novice and experienced users, offering a secure and flexible way to manage digital assets with friends and family members. We are confident that our innovative approach will gain wide adoption and deliver significant returns for our investors.