Tiny Vault

Tiny Vault is a decentralized platform that aims to help parents teach their kids about financial literacy in a fun and engaging way. The platform is built on blockchain technology, which ensures the safety and security of all transactions and data. Smart contracts are also used to automate certain tasks and ensure that the rules set by the parents are followed accurately.

The platform is divided into two dashboards - one for parents and one for kids. The parent dashboard allows them to load their child's wallet with tokens, which can be used by the child to spend on digital goods, save for a specific product, or stake for interest. The parents can also monitor their child's progress through analytics and smart contracts that incentivize good financial habits. For example, a parent could offer their child a certain number of tokens as a reward for completing an online course on a platform like Coursera. Once the child completes the course, the smart contract would verify the completion and automatically release the tokens to the child's wallet. This not only teaches the child about the value of learning and hard work, but also encourages them to take responsibility for their own financial literacy and savings. In addition, Tiny Vault also includes a unique feature that simulates real-world financial scenarios for children. This feature is the implementation of a "fake" tax system, which allows children to experience the concept of taxes in a safe and controlled environment. The tax system is fully customizable by parents, allowing them to set the tax rate and frequency according to their own preferences. This feature not only teaches children about the importance of taxes and how they work, but also gives them a sense of responsibility towards contributing to society.

The child dashboard is designed to be simple and user-friendly. Children can easily see their wallet balance and choose whether they want to spend, save or earn tokens. The platform also offers a catalog of digital products that the child can purchase with their tokens. Parents are notified of all purchases made by their child and have the ability to approve or reject them.

Tiny Vault's goal is to prepare children for the future of decentralized currencies and increase awareness of the importance of digital financial literacy, particularly with regards to crypto-assets. According to a survey conducted by the National Financial Educators Council, 76% of American adults say they wish they had received more financial education during their school years. By introducing financial literacy to children at an early age, Tiny Vault aims to bridge this education gap and help create a more financially responsible generation.

Our aim is to develop Tiny Vault as a fully decentralized platform that operates without any central authority governing the information or data. The platform is built on blockchain technology, which ensures a secure and transparent system that is not controlled by any single company or entity. Instead, our open-source and transparent user interface empowers parents to take charge and determine what financial literacy skills they want to impart to their children. This decentralized approach provides a public good for all, promoting financial literacy and education for future generations.

Tiny Vault was built using a combination of front-end and blockchain technologies to create a decentralized platform for financial education. On the frontend, we used Next.js, Ethers.js, SWR, Web3React, Typechain, and Tailwind to create a user-friendly dashboard for parents and children. We began with a financial dashboard template from TimCreative, customized it to meet our target audience's needs, and integrated web3 functionality to interact with our blockchain. The Ethereum blockchain was used, and the dApp was deployed on Gnosis blockchain's testnet "Chiado" using the Safe core account abstraction SDK auth kit with social and gnosis wallet. Dynamic Artwork from Nouns DAO was used as profile pictures for every user through the unique address for each wallet. We used xDAI as the token to interact with our platform. In the future, we plan to integrate chainlink functions to automate processes between parents and children, and we plan to develop Proof of Attendance NFTs for specific events that trigger smart contracts to unlock rewards for children.