Create the dream wallet for virtual currency. Instead of having your funds in various platforms depending on what you prefer, why not have one place where you can have and see everything. A wallet that always works, for whatever your need.
The future is going to be about an efficient market where currency denotes true value and transactions are done effortlessly from anyone to anywhere. Until that happens there are going to be a lot of fluctuations and new concepts introduced that will change the whole concept of money. There is a need for an expansive approach to how people are going to possess virtual currencies. For it to work, it must be beautiful, extremely easy to use, and useful.
Finally, the creation of this wallet needs to be funded somehow, because software development is an expensive endeavor.
There are many wallets out there that store various virtual currencies. All have attractive things about them. They take various forms towards solving a limited problem.
The idea for Moonstone was to create a wallet that is capable of doing a lot of things, simply. This wallet was going to be a big undertaking and it would have been useless if it was created by only a small group of people. The goal was to involve more people, so that it becomes (as a government under Lincoln) a wallet by the people for the people.
Firstly, for the funding of the project, a unique crowdfunding method was designed to get interested parties involved, in bitcoin of course. This was achieved by creating a new virtual currency that was distributed according to contributions, with plans for it to be bought back with interest. This would entice contributors to not only become part of the founding members, but to consider their contribution as an investment.
Secondly, the wallet had to be open source. Since funds were being crowdfunded, it was natural to make the project open source under a MIT License.
Thirdly, the wallet had to have a modular infrastructure, built on the MEAN stack, so that future applications could utilize it fully. To make that possible the development of APIs were planned as well.
Finally, build an interface that is as simple as possible, familiar to virtual currency users and to newbies, and most importantly, be secure. When working with ‘crypto’ currency, there is an expectation that security in every aspect is above average.
Since this project was started by us, we as a team benefitted much more than we bargained for. The biggest benefit was what we learned along the way.
The crowdfunding campaign goal which was ~130.000 USD was not met, and only ~23.027 USD were raised. Instead of releasing everything as open source, only the frontend Angular.JS parts are planned to be released with a GPL3 license. The backend parts remain proprietary.
Just before the public beta release of Moonstone, Bitshares 2.0 were announced, and it was decided by our team to wait for the implementation of that in Moonstone as well, since including Bitshares is one of the main features of the Moonstone wallet. This held development back many weeks.
Right now, Moonstone is almost ready, and you can check out what’s going on at http://moonstone.io
Hopefully when it goes public the backers of Moonstone will love and use it for many years to come. We know that we will developing it forever and adapting it to whatever the virtual currency landscape becomes.