BLOCKCHAIN SOLUTION DEVELOPMENT PROCESS

We believe that Blockchain solutions are built on the ‘power of we’ – substantially different from the way other conventional technologies work. Our basic thumb rule is to identify a ‘shift of trust’ and a reduced ‘counterparty risk’ before getting onto an implementation.

Using this thumb rule, along with our experience of deploying cross-industry Blockchain solutions, we created a development process for all our assignments.

STEP

1

USE-CASE IDENTIFICATION

Blockchain brings value in environments where stakeholding, intermediary involvement and un-trusted nature of transactions result in inefficient processes. Using our past experience and regular research, we work towards identifying a use-case where blockchain can add value to the business.

STEP

2

BLOCKCHAIN/DLT FRAMEWORK DECISION

For each use-case, the next step is to freeze the blockchain / distributed ledger technology framework like Ethereum, HyperLedger, Corda, etc for developing a POC/MVP. This also includes making decisions on the type of implementation amongst private, permissioned and public blockchain.

STEP

3

PROOF OF CONCEPT | MVP DEVELOPMENT

Proof of Concept generally includes a solution document that showcases the system architecture to be built on a blockchain framework. Post the POC, MVP development is a crucial and laborious stage where maximum time is spent behind the scenes to develop a working product.

STEP

4

API INTEGRATIONS & AUDIT

Blockchain solutions rarely exist without interacting with off-chain existing systems in which API integrations play a major role. For getting off-chain data into the blockchain and vice-versa, API integrations are required followed by audits to ensure compliance with industry standards.

STEP

5

PRODUCTION LEVEL DEPLOYMENT

Post API integration, audits, and legal compliances, the solution gets ready for testing trials and then deployment in the production environment.