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Business Overview

The client is a Fintech company providing blockchain-based products incorporating traditional and digital finances via tokenization and trading of digital assets. As newcomers, the client needed to establish and strengthen their positions in the competitive market. Developing disparate products was not enough for expanding exposure, attracting new users and investors, and significant revenue growth. For this purpose, the client required development of a fully-fledged ecosystem with a set of connected, robust, and high-demand products based on their fork of the Stellar blockchain.

The company had certain groundwork laid within a range of projects after cooperation with a previous software development company. The vendor did not cover the client’s needs in expertise for running large-scale projects, which had a negative impact on the delivery process and company growth in general. The client entrusted the ecosystem development to NIX as a vendor with solid blockchain expertise and capacities to efficiently run multiple projects in parallel and at a rapid pace.

Project Scope

Building the ecosystem included developing many blockchain projects in parallel: a banking app, an NFT production studio and marketplace, a decentralized exchange (DEX) portal, and a cryptocurrency wallet. The client’s focus was on gaming, sports, and entertainment, thus products needed to be engaging and customizable. 

Some products needed refining and tech enhancementsβ€”we needed to assess the state of existing solutions, find workflow inefficiencies, restructure internal development processes, and expand software functionality for its smooth and efficient operation. Some products had to be developed from scratch based on extensive market research to stand out from the competition. To build a robust and demanded ecosystem, it was crucial to make all the products, existing and newly built, work seamlessly with each other as a single entity.

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Solution

All products were based on a fork of the Stellar blockchain. At the same time, they all had the microservice architecture for increased modularity and scalability of the systems and hosted on AWS.

Below are the details of how we developed each particular project.

Digital Banking App

NIX experts developed a robust digital banking productβ€”the web application and mobile native applications on iOS and Android. Besides common banking services like leveraging debit, credit, investment accounts and making P2P payments, customers can make cryptocurrency donations, get cryptocurrency rewards, and use branded cards and custom esports skins in the apps. A complete digital banking experience and expanded configurability and flexibility of the apps were provided through integration with the I2C service.

The following features are implemented into the platform:

  • Linked financial accounts

The ability to easily transfer funds between users’ accounts from different banks was provided through integration with Plaid.

  • Highly-secured environment

We used encryption keys, two-factor identification by phone number or email, and address verification via SmartyStreets. The implementation of Know Your Customer (KYC) standards protects the app from fraud and money laundering. 

  • Children’s accounts linked with parental ones

Parental control implies the ability for parents to control their children’s transactionsβ€”accounts of children aged 6-13 years old are under complete parental control, while accounts of 14-18 years old teenagers are controlled just partially. Parents can also assign chores for their children and pay them for completion.

  • Crypto rewards

The system checks users’ spending in fiat money, determines the size of cryptocurrency cashback, and sends this amount to users’ accounts.

  • A fully-fledged notification service

This conveys real-time updates, transactional messages, notification filtering, and reminders based on broad business logic.

  • Admin panel as a separate web application

The service was designed for user management and supportβ€”configuring user streams, feature flags, skin design and validation, and early access to a certain range of users.

  • NFT Production Studio
  • Cryptocurrency Wallet
  • NFT Marketplace for Digital Collectibles
  • DEX Portal

Outcome

The NIX team helped the client build a fully-fledged and secure blockchain ecosystem at the required pace. The restructuring of internal processes provided by our business analysts and developers was game-changing. As a result, the client significantly reduced costs while accelerating the quality and speed of the projects’ launch.

A pool of robust and highly-demanded apps established a strong community around the client’s ecosystem, expanded its blockchain and cryptocurrency awareness, and increased its liquidity. Almost immediately, the company attracted the attention of brands, bringing in several major contracts with football associations, and won new investors, which positively impacted further development of the client’s company.

Team:

38 Experts (3 Project Managers, 3 Business Analysts, 5 Java Engineers, 2 PHP Developers, 3 JS Developers, 11 QA Manual and Automation Engineers, 2 iOS Developers, 3 Android Developers, 3 DevOps Engineers, GO/JS Engineer, Security Engineer)

Tech Stack:

Kotlin, Swift, Python, AWS, Java, ReactJS, NodeJS

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