Bear with me here, this is actually not a real app. PETS is an imaginary app that one day could be real but at the moment it's not. This is just an app I would make today if I had the resources to do so and I will explain why in this post!
Nowadays, all over the world almost every person has a smart phone now to stay connected with family & friends. On the smartphone, we have many different apps that range from social, games, entertainment, educational etc. Below I share a screenshot of the apps from my smart phone. You can see that I have all these different types of apps here. I play games like Splinterlands and Chinese Mobile Legends. I have social apps like Whatsapp, Telegram, Discord and Ecency.
This brings me to the PETS app that I mentioned in the title of this post. You might have thought oh wow Shawn, you want to create an app for our pet dogs and cats. Well I'm sorry to disappoint you but PETS actually has nothing to do with pets or animals.
So what exactly does PETS stand for? Well it's quite simple, the name stands for Pay, Exchange, Transfer, Store. This app will able to make payment, exchange currencies/cryptos, transfer to any person or wallet, and store crypto/currencies as well as NFTs. It will basically replace the need for banking, e-wallets, crypto wallets, exchanges and swaps.
Everything will be recorded through blockchain and verified through nodes. The wallet of all accounts will be unique and nobody would be able to identify who is who unless you straight out told someone and in the case someone figured out your account, you can always make a new one and transfer all your money/crypto there.
All payments, exchanges and transfers would require a face recognition, thumbprint verification, TAC code from your mobile, code from email and a secret word/password that the user creates. Honestly, these would all be up to make sure it's safe however if the user is lazy to do all this there would be an option to not use some of the confirmations methods but they have to at least use two of the confirmation methods mentioned above.
Why Create This App?
If you've paid attention to the news, you may have heard of Silicon Valley Bank going bankrupt or stories of exchanges like FTX going down. Well there were people that lost their money because of that. This is scary so it's crucial to have a safe way to store money. It's been shown clear that money can't be trusted in banks or exchanges. This app would let anybody with a smart phone have a way to safely store their money. Furthermore there are quite a number of people in this world that are unable to get bank accounts; this app would provide a solution to that problem as well.
Honestly, the possibilities for this app would be endless. I would try to make the app as decentralized as possible but of course there would still have to be some things that are centralized. This is how I see the future of making payments, exchanging, transferring and storing money. A seamless way to do everything with money and cryptocurrency.
I hope you enjoyed reading this post. Thank you for reading until the end and I hope you all have a great weekend!