ICO launch / Blockchain Construction Monitoring Tool

Objective:

Real estate development company wanted to launch an ICO campaign to pitch their new project. A solution that will help to overcome main industry challenges: construction progress monitoring, construction process facilitation, proper resources allocation.

We were asked to handle technical part of the system development and ensure smooth user experience during ICO.

Project business tasks:

Define blockchain purpose in the system
Pick the technology stack and develop token economy
Prepare platform description
Prepare specification for smart contracts terms description.

Project technical tasks

ICO smart contracts development (Token, Multisig Wallet, Token Vault, Pricing Strategy, Crowdsale Backend Proxy)
Bitcoin Payment Gateway. Create and process bitcoin orders via REST API
Ethereum Oracle. Checking the status of bitcoin payment and sending ERC20 tokens to users equivalent to their Bitcoin inputs.
Smart contracts demo in the Ethereum test net using Parity node.
Delivery management. Landing updates deployment.
ICO technical support and maintenance

Project overview:

Duration

4 months, 2500+ hours

Methodology

Agile (Scrum)

Technologies

Bitcoin: BIP32 Deterministic Wallet
Ethereum: Solidity, Truffle, OpenZeppelin, Parity
Backend: Java 8, JOOQ, HikariCP, Spring boot, BitcoinJ, web3j, RabbitMQ
Infrastructure: AWS Auto Scaling group, AWS Classic Load Balancer, AWS CodeDeploy, AWS CodeBuild, Amazon Aurora, Amazon ECS
Custom blockchain: Hyperledger Fabric, Smart Contracts based on golang
Android: Java, Volley, Gson, Paho MQTT, FCM, Instabug, TestFairy
iOS: Swift 3, CoreData, Alamofire, Auto Layout

Project Team

1 backend developer
2 solidity developers
business analyst/project manager
1 designer
1 QA engineer
Android developer
iOS developer

Date

December 16, 2017

Solution

We’ve developed a comprehensive blockchain-based solution for speeding up construction audit process by automating milestone planning. The system had to resolve common issues that are faced by both developers and constructors: mutual trust, compliance with the contract's terms and conditions, fast critical situation handling, financial transaction issues. - Smart contracts integration - Custom RFID tags id generation - Blockchain-based financial transaction processing - Real-time construction process monitoring

Challenges

Define platform functionality

As the project has rich functionality that could be divided into 3 subprojects, it was challenging to unify each stakeholder opinion into an MVP specification. But it gave both marketing and technical teams deeper understanding of the whole idea.

Working cryptocurrencies frameworks

During ICO stage, we needed to implement a function that will send crypto-currency (BTC, BCH, LTC) paid tokens into Ethereum based smart contracts. We’ve developed an API integration with personal accounts that handle all transactions.

The app involves the following features

Separate user roles

Different user roles have different access rights
Different terms for making entities in the blockchain nodes

Smart contract constructor

Base of typical construction contract terms
Setting up penalties for non-observance of the terms
Adding specific terms to the smart contract

Fundraising marketplace

Pitch deck templates
Crowdfunding
Smart-contract based guarantee for investors

Construction monitoring

RFID-tags
Smart contracts
Real-time constructor progress monitoring

Secure reports

Reports are saved to a project blockchain node
Tracking progress in the blockchain

Result

We’ve delivered an MVP product that includes:

Fundraising marketplace
Smart contract hub for construction monitoring
API integration of the platform and 3d party management tools

Also, our team ensured smooth user experience during ICO. At the ICO stage, we were responsible for servers maintenance, QA of 3rd party code, and deployment to the production instance. Now we continue working on the platform, creating a building management solution that would link together IoT, BI analytics, and blockchain.