LimeChain

BACKGROUND

Please describe your company and your position there.

Idoneus is building a new secure digital economy that increases the value of assets, provides freedom of choice, and control over personal wealth. Its participants can buy, sell, trade, rent or otherwise experience luxury assets, goods and services. This frictionless society is using a new common unit of value: a smart currency called IDON. My role in the project with LimeChain is Product Owner.

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire LimeChain?

We hired LimeChain as a general contractor for building the new digital economy, which includes all design and development work. So far we have built the MVP, as well as (via a partner) the company branding and website. In the next phase we will build out the MVP to a full blown product.

What were your goals for this project?

The goals of the project were to build the base infrastructure and MVP for the product, on a short timeline. We wanted to build this with reusable software components, and provide our users with a solid MVP platform and experience. Besides that, we really needed a new company website and complete overhaul of the branding.

SOLUTION

How did you select this vendor?

We did a lengthy RFQ process with several short-listed suppliers. We became aware of LimeChain through online research, and had heard about some of the projects that they have worked on before. During the RFQ process LimeChain stood out from the competitors by being super-responsive in terms of time, but also in terms of catering to our needs. Of course the price point played a role as well, which was very decent.

Describe the project and the services they provided in detail.

We wrote high level business requirements and roadmap. LimeChain designed, developed, integrated, tested and launched the MVP product as well as the company website. We started the project with an onsite multi-day workshop at their office in Sofia. From there on we did two-weekly sprints. We ended up increasing the scope quite a bit as the project moved along. In specific, LimeChain delivered: - User dashboard to onboard new clients, go through full KYC process, and manage their tokens and wallets. - Admin dashboard for user management. - Smart contracts and a new crypto token: IDON. - Company multisig wallet infrastructure - Third party integration of a KYC provider, via API. - New company website - Portfolio site - Company branding (together with Athlon)

What was the team composition?

The team consisted of a project manager, an architect, several designers, several developers and a tester. The size of the team fluctuated as there were different components to the project with a different timeline. In total there were about 12-15 people involved in the project.

RESULTS & FEEDBACK

Can you share any information that demonstrates the impact that this project has had on your business?

We launched the MVP and the new website. We have received very positive feedback from clients and partners about this. We have been able to onboard our first clients, and continue to do so.

How was project management arranged and how effective was it?

Project management was done very effectively. We set up the project on monday.com and communication was all done via Slack. The project manager was super responsive and always looking to make things work better and catering to all our needs. The account manager also played a very important role, managing expectations, keeping everybody happy and making sure issues were addressed.

What did you find most impressive about this company?

What I find most impressive, besides their tech skills, is their professional and client-focused attitude. They have been very responsive, very flexible, very communicative and an absolute pleasure to work with. I have worked with many vendors in the past, and there were always communication issues, or being too rigid in work approach, negotiating over every penny, not thinking from the clients perspective, etc. With LimeChain I have not experienced any of these issues. Also on a personal level I enjoy working with this team.

Are there any areas for improvement?

The main areas of improvement are on our side, as the client. LimeChain has been very good at providing solutions for anything that we have thrown at them. And even though the scope of work increased quite a bit compared to what was initially planned, we did a good job managing the project. For the next phase of the project, with a lot larger scope of work, of course the project set up has to be tailored accordingly, and I expect no issues with that.

BACKGROUND

Introduce your business and what you do there.

I’m the managing director at ARXUM, a startup blockchain software company. We offer protocols to allow people to move orders directly from client to production facilities. We provide production process documentation, proof of ownership, and intellectual property security.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with LimeChain?

We come from the manufacturing industry and have experience with process automation and hardware and software development, but we don’t have any blockchain knowledge.

SOLUTION

What was the scope of their involvement?

First, they developed smart contracts for the initial coin offering (ICO) and a web app where one can create an order. Then, we decided to use an Ethereum blockchain to route the orders through an IoT device that we developed. The order will be sent to the IoT device’s digital address via the ICO network. While we’re currently realizing the protocol based on EOS.IO, a blockchain network, we might switch to IOTA, a distributed ledger technology.

What is the team composition?

We mainly work with their chief of delivery, but there are two or three others constantly working on our product.

How did you come to work with LimeChain?

They were recommended to us. We decided to have them develop the production protocol for the application. When that was successful, we chose to continue collaborating with them.

How much have you invested with them?

We’ve spent $150,000 so far.

What is the status of this engagement?

We’ve been working together since February 2018.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

They finished the development with only a few mistakes. It’s stable and the performance is good.

How did LimeChain perform from a project management standpoint?

They don’t just do what we say, but they take responsibility for the results. They think about everything that has to be considered and try to bring in innovations and original ideas. They’re very proactive and professional and work well with our team—who also likes them.

What did you find most impressive about them?

I’ve seen a lot of software products and development companies from my time as the COO of a large IT company. LimeChain is professional and they deliver on time and in budget, which isn’t normal. They’re above average.

BACKGROUND

Introduce your business and what you do there.

I’m the head of development for a startup that creates blockchain solutions for science researchers.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with LimeChain?

We wanted blockchain capabilities to provide an economic model for our clients’ scientific processes. We did an initial coin offering (ICO) as an alternative source of funding for future development. Consequently, our company needed a system of smart contracts based on the ethereal network, which is usually developed in Solidity. Therefore, we wanted a local vendor with expertise in smart contracts technology, ICO development, and the Solidity language.

SOLUTION

What was the scope of their involvement?

We explained our business and goas with the ICO. We then dove deeper into the details of what our current specifics were for our ICO. Their expertise and offerings were expanding further than our approach, and we discussed how it can be handled with blockchain as a whole. The team taught us their methodology, what they considered feasible, and industry best practices.

Next, we requested business logic that would be implemented in the blockchain on top of the ICO. Currently, we have deployed our smart contracts regarding the ICO and the crowdsales; those are operational. We’re already in private sale and the public sale starts in September 2018. LimeChain had also developed the proof of concept (POC) logic, which we’ll leverage for the business logic after the ICO. In July 2018, we stopped active development and had POCs waiting while LimeChain built integrations.

What is the team composition?

We’ve been in contact with George (Blockchain Developer & Chief of Delivery, LimeChain) and Nick (Founder & CEO, LimeChain). They assigned a senior developer and junior developer to our project. We’ve had to up to four developers working in pairs at any given time.

How did you come to work with LimeChain?

We got a referral from a mutual acquaintance and reached out to LimeChain because they were local.

What is the status of this engagement?

We started working together in February 2018 and the partnership is ongoing.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

We used a static tool and third-party expert to review and scan the code. The code contained no large issues or mistakes. From a security and flow perspective, they did a great job.

How did LimeChain perform from a project management standpoint?

Initially, we didn’t use a project manager or exact timelines because the scope kept changing. We made last-minute changes that they often accommodated within 24 hours. The team was flexible, but now uses a project manager and Jira to organize the project. LimeChain converts data from Jira into timesheets to invoice us. While the team could improve its project management skills, they’re more transparent than they used to be.

What did you find most impressive about them?

They’re knowledgeable and have solved significant problems in the blockchain community. For example, LimeChain upgraded a contract we wanted to deploy and made it reversible. In addition, the team flexible, communicative, and friendly. We’re not only on professional terms, but are also friends.

Are there any areas they could improve?

They could put in a little more effort with project management.

BACKGROUND

Introduce your business and what you do there.

I’m the CEO and founder of Vaultitude, an internet-based platform for intellectual property protection based on blockchain technology.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with LimeChain?

We needed a blockchain developer with the necessary expertise to develop our technologies.

SOLUTION

What was the scope of their involvement?

The team is developing smart contracts, or logics, for our blockchain technology and completing the platform’s general design and coding. The platform offers IP protection by storing intellectual property on blockchain and then devising the architecture to encrypt the information. We store the encrypted information on a cloud-based solution, which is more cost-effective than blockchain storage. LimeChain is set to release the platform in September 2018.

What is the team composition?

I’m working actively with six or eight people. The team includes the founding members and a manager that’s responsible for day-to-day work. LimeChain has specialists for every aspect of our platform: blockchain, programming, and UX design.

How did you come to work with LimeChain?

The blockchain industry is small and all the founders are in close contact with one another. I had been in touch with some advisors that worked with LimeChain. When I met the LimeChain team, there was an instant connection because they understood the project’s blockchain and intellectual property law aspects. We hired the company because they produced great initial ideas.

What is the status of this engagement?

We met them in late 2017 and we started development work in early 2018. The project is ongoing; we’re already discussing features for the second and third versions.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

The IP architecture is very lean and efficient, which makes us more competitive from a cost perspective. Although the platform hasn’t launched, we’ve already gained significant traction in recent months. We’ve been invited to show our prototype to several major international organizations. LimeChain deserves credit for the prototype’s positive feedback; their quick progress has been very impressive. As with other competitive environments, speed is essential for IP protection filing.

How did LimeChain perform from a project management standpoint?

The team is very professional. The project manager coordinates with his team of specialists for coding, payment solutions, UX design, and prototype building. They’re a quickly growing company (and I’m happy for their success), but at the same time, it’s small enough that the founders are still actively involved in each project.

What did you find most impressive about them?

LimeChain is transparent with transparent and accurate reporting. Neither their scope nor budget deviates, which is important for projects like this one.

Are there any areas they could improve?

Since I’m not a coder, it’s hard to comment in that regard. Everything in the partnership is fine.