Theta AI Wallet

Is managing your crypto assets like an impossible maze? Our AI-powered blockchain wallet transforms wealth control with one-click insights and unmatched security—A new era of decentralized finance

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Executive Summary

Our AI-powered blockchain wallet transforms financial management by addressing trust, security, and financial literacy challenges. It streamlines wealth management, facilitates bulk payments, and uses Gen AI to provide valuable insights along with future gas fee trend prediction. With robust theta blockchain security, users can confidently take control of their finances. We're not just solving problems; we're redefining the future of personal finance.

Inspiration

59% of U.S. adults say they're uncomfortable with their emergency savings. Raising opportunities to evaluate features for automated savings1. Additionally, only 33% of adults worldwide are financially literate, according to the Financial Literacy Around the World report. 2 25% of Americans say they don’t have anyone they can ask for trusted financial guidance 3. The last NFT mania of 2021 has also considerably raised gas prices from 99 gwei to 232 gwei – a 134% rise and according to data from EthereumPrice, gas is usually most expensive on Wednesdays between 6 and 7 PM. 4 Over two-thirds (68%) of small businesses reported having to decrease their use of cash and checks for their B2B payment requirements, indicating a shift towards electronic and automated bulk payment systems 5

These statistics suggest that a substantial population globally is concerned with the concept of fluctuating prices, getting the financial learning curve, and putting trust in an entity. The growing impact of blockchain in security and the power of AI to provide near-accurate insights offer a chance to transform the traditional exchange system.

Considering the timeline of the hackathon, our team built a solution based on global statistics and the current theta wallet. However, the extension of the deadline has helped the team to gain additional insights.

Our team conducted two surveys based on the Mom Test to discern key user concerns. The first survey was to filter appropriate candidates to judge this platform. The second survey highlights specifics

What the platform does

Based on the statistical insights, these are the key features that the proposed smart wallet on theta blockchain with AI integration offers.

  1. Trust -- A Chrome Extension & a WebApp built on Theta Blockchain: Streamlines transactions and provides trust to the users.
  2. Savings -- Splits Group Expenses via our Smart Contract: Provide one-click payment solution to optimize gas fee cost with bulk/batch payment (Currently via MetaMask). This feature empowers the users with automated savings by fixating on one gas fee in a highly fluctuating market.
  3. Financial Literacy (FL) GenAI Insights: Provides specific transaction insights of user spending habits with the payment categorization via Gemini AI. This feature enables user to become financially literate.
  4. Savings & FL -- AI Gas Fee Predictor: Suggests costs benefits through intelligent gas fee predictions. Provides a time based variations insights.
  5. Trust and Security -- Incorporates EdgeCloud Connect: Providing Users with an additional layer of security for private document storage.

How we built it

Technical Implementation: Step-by-Step Insights-- 1. Extension Development We initiated the project by developing a Chrome extension to facilitate transactions on the Theta Blockchain. This extension serves as the primary interface for most of the proposed functionalities and is constructed using the React Framework. It leverages the Theta Network RPC and the Ethers Library to ensure interaction with the blockchain. 2. Dashboard Integration The Theta Wallet dashboard is built using React and Material-UI for the front end, leveraging Chart.js for data visualization and Axios for API requests. It's part of a Chrome extension that interacts with the Theta blockchain using the Ethers library and Theta Network RPC. The dashboard employs React Hooks for state management, implements responsive design, and follows modern JavaScript practices. It interfaces with a RESTful API which is built using Python Flask for transaction data by following route control architecture. The entire system is designed to facilitate transactions on the Theta blockchain. 3. Blockchain Smart Contract: This smart contract written in solidity is deployed on the theta network to help execute bulk payments by validating input arrays ensuring sufficient funds and efficiently transferring specified amounts to each recipient optimizing gas usage for bulk payments on the theta network. 4. Gen AI APIs: This API is built via fine tunning Google's Gemini AI 1.5 Pro with these parameters: "temperature": 0.7, "top_p": 0.95, "top_k": 40, "max_output_tokens": 1024 to ensure creative, diverse responses and high-quality response with minimal content. This output is used to merge with the user's specific data to generate context-aware responses based on the provided transaction data and user input. (E.g. the exact amount spent in the last month) 5. AI Gas Fee Predictor: This API is built on top of the ARIMA model to facilitate time series gas price data. The ARIMA model is configured with parameters (5,1,0), indicating 5 autoregressive terms, 1 differencing order, and 0 moving average terms. This configuration aims to capture complex time series patterns in gas price data, accounting for trends and seasonality while avoiding overfitting. 5. Theta Edge Cloud: This is set up on a local EdgeStore Server (Port 19888) and uses JSON RPC to communicate. It uses Flask blueprint to work with the EdgeStore service, allowing users to upload and download files through RESTful API endpoints, manage temporary file storage, and securely download files with Flask's send_file endpoint.

The EdgeStore startup script runs the EdgeStore program using Python's subprocess module, which helps manage how it starts and handles any errors that come up. This allows for better control of the EdgeStore daemon and makes it easier to connect with larger applications or automate deployments. (Currently facing an OS error mentioned below.)

Challenges we ran into

Gas Fee Prediction (Static Gas Fee on Theta Blockchain): The Theta Blockchain currently has a fixed gas fee of 0.0924 TFUEL. To demonstrate our concept, we utilized Ethereum gas fee data for display on our extension and dashboard platform, as Theta Fuel lacks sufficient historical data for accurate fluctuation.

ThetaEdgeCloud Deployment Issues: We encountered persistent errors when attempting to deploy ThetaEdgeCloud for API calls. Specifically, we faced an OSError with the message "OSError: (Errno 8) Exec format error: '/bin/edgestore'". This error suggests compatibility issues or incorrect file permissions for the edgestore executable.

Bulk Payments via MetaMask Extension: Due to time constraints, our team currently did a quick fix for batch payments via the MetaMask Extension and will work to integrate batch payments on the proposed theta wallet extension.

Accomplishments that we're proud of

  1. Practical User Experience: Our project solves real-world problems and this idea is validated by 10+ Users. Here are some interesting statements from their feedback: "I feel each part is interesting.", "Great work in this space."
  2. Wide Range of Features: This is the first wallet app that provides split payments with bulk payments for gas fee optimization, decentralized edge cloud storage, financial insights, and gas prediction within one app. We can proudly say that our app is first in the market.
  3. Two AI Models in the platform: The financial insights model provides the user with specific numbers and has a layer to give additional tips on how to save, the next steps, and many more. The gas fee prediction is an ARIMA forecasting model to predict the ongoing fluctuations in gas prices.
  4. Split Expenses & AI Insights within the wallet: These features are already in use by our friends and family and they just love it.
  5. Getting more views on the project via LinkedIn Posts: 1207 Impressions Post 1, 981 Impressions Post 2
  6. Entire Process: Started with zero and ended up with a product

What we learned

– The Survey 2 highlighted these key opportunities: "Work More on Branding the Project", "Would add more types of visuals for graphical analysis." and achievements: "Great Work in This Space", "I feel each part is interesting." – Ease of building innovative products on top of Theta Blockchain – Struggles of Current Wallet Users and Ways to Help them – Integration of GenAI on Theta Blockchain

What's next for Theta Wallet

– –The hackathon enabled us to build an innovative AI and blockchain smart wallet. Our team looks forward to improving the platform by incorporating relevant changes from the feedback obtained from Survey 1 and Survey 2. – Multichain Integration like the traditional theta wallet currently in testing. – Hardware Wallet Integration: We plan to integrate the ESP32 as the hardware wallet, which will include all the features of our smart wallet including the edge store functionality. – Deploying it on AWS

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