Blockchain Foundry Inc.

BACKGROUND

Introduce your business and what you do there.

I am the co-founder of the LODE Project which is a company that liquidates silver and gold assets.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Blockchain Foundry?

We contracted the services of Blockchain Foundry for the purpose of helping us build a system to tokenize and liquidate silver and gold assets.

SOLUTION

What was the scope of their involvement?

We contracted them specifically to build innovative technologies using blockchain protocols. The services are multifaceted but they’re focused around the core objective of making it possible to spend and receive digital silver and gold assets.

They’re engaged in building multi-currency and asset wallet technology which allows interoperability with other blockchain networks such as Syscoin and Etherem. They’re helping us connect our assets to these networks and other networks that would give users the capability to swap between networks.

They’ve helped us gather the requirements to commence with the building of the wallet technology called EGS pay, and it’s currently available on both the Apple and Google Play stores.

Under our current contract, Blockchain Foundry is helping us rebrand that wallet, and it will soon be launched as LODE Pay. It’s a payment platform that has the capability of distributing digital assets and connecting to payment providers such as card issuers, processors, acquirers, and banks. 

The languages used on the frontend development of the wallet are PHP, Laravel, and React.

What is the team composition?

The core team we work with has about eight people. They’re made up of project managers, full-stack developers, and community administrators. They help us with business development as we work with other API providers. 

How did you come to work with Blockchain Foundry?

We started working with Blockchain Foundry after our legal team introduced us to them.

How much have you invested with them?

We spend around $80,000 a month based on our contract.

What is the status of this engagement?

The ongoing partnership started in February 2018.

RESULTS & FEEDBACK

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

Blockchain helped us get into a revenue situation, so now we have a multi-million dollar revenue flow that continues to grow as a result of these activities. We are now able to support transactions globally and conduct trades and commerce.

We’ve connected the app to our marketplace, which is like an Amazon-style marketplace for people who are interested in selling goods and services in exchange for cryptocurrency payments.

We’re still in the early stages of the process but they have put us in the position to start acquiring revenue from transaction fees and integrations with merchants and users to settle payments.

How did Blockchain Foundry perform from a project management standpoint?

We communicate with Blockchain through Slack and we use Jira and Confluence for our product development software. We have a number of tech developers on board, and Blockchain Foundry is one of them, so integrations and communication across the teams are very important.

They’ve been very good at working with us on our communication tools and following the roadmap of the project.

They’ve been fluid in helping us conduct tests and fixing bugs. We use a few different platforms for testing versions of the wallet in different environments but it’s been great.

What did you find most impressive about them?

What separates Blockchain from other providers is that they’re an eclectic group made up of world-class blockchain developers. They have a very strong suite of full-stack development capabilities, and they’re very progressive when working with disruptive technologies and integrating it with the current financial system.

What’s also impressive is that they’re building for the future financial platforms while remaining compliant with the current technology. They don’t have a lot of people working in the company because of the current economic environment, but their skill set is very diverse.

Are there any areas they could improve?

I believe that one of the things that prevent them from being competitive price-wise is that they are a publicly-traded company. Publicly-traded companies should not be in the service business unless they can be competitive on an international scale. They have a great structure but they’re too small to make it efficient.

Do you have any advice for potential customers?

My advice would be to make sure your communication tools are in place because they can get very busy. It’s easy to get misaligned and miscommunicate in this current environment, so make sure you organize your communications well. There are no issues with skills because they’re very skilled.

But it’s easy to get tripped up if there isn’t a high level of communication and a platform for developing the project’s objectives.

BACKGROUND

Please describe your company and your position there.

Syscoin Foundation Board Member

OPPORTUNITY / CHALLENGE

For what projects/services did your company hire Blockchain Foundry Inc., and what were your goals?

We employ Blockchain Foundry for much of the core design and development of Syscoin Platform (an open-source decentralized ledger tech stack), and work with them for BAAS business development. Our goals are to keep Syscoin Platform on the leading edge of what enterprises truly need based on direct input from them, and to increase the adoption of Syscoin and blockchain tech as a whole.

SOLUTION

How did you select Blockchain Foundry Inc. and what were the deciding factors?

Multiple factors. Substantial experience developing blockchain technologies is of course significant. The officers of Blockchain Foundry have been working in various capacities in the industry since its infancy. Other factors are professionalism, a positive track record delivering solutions that function as intended, and the correct enterprise relationships with clientele who's needs align with the purpose and vision of Syscoin, towards business development and partnerships.

Describe the scope of work in detail, including the project steps, key deliverables, and technologies used.

Full lifecycle. Design based on client feedback, Development (C++, javascript, Go), testnet deployment and unit test coordination, third-party scientific benchmarking and vulnerability probing, mainnet deployment, updates, upgrades and enhancements. Key deliverables were Syscoin Core versions 3 through the upcoming version 4.2

How many people from the vendor's team worked with you, and what were their positions?

We work with nearly the entire staff with few exceptions, including officers of Blockchain Foundry. Jagdeep Sidhu (CTO) and Willy Ko are the BCF employees who are most involved in software development for Syscoin, along with other staffed devs. Dan Wasyluk (CEO) and Marc Nicholson (CSO) have been greatly instrumental in business development efforts and identifying BAAS opportunities that align with Syscoin's mission.

RESULTS & FEEDBACK

Can you share any measurable outcomes of the project or general feedback about the deliverables?

Syscoin's tech stack has evolved positively in obvious ways through multiple iterations, due in large part to the expertise provided by Blockchain Foundry Inc.. We have also established multiple partnerships with other industry participants, and continually receive expressed interest from enterprises in establishing new partnerships, including leaders such as Binance, due in part to the helpful participation of Blockchain Foundry.

Describe their project management style, including communication tools and timelines.

Agile, Scrum, Email, Discord, Slack, Github, Zoom, Google Meet

What did you find most impressive or unique about this company?

We are impressed with the breadth of their experience in blockchain and full-stack dev, and quality professionalism, quality of established clientele, and proven track-record.

Are there any areas for improvement or something they could have done differently?

We are satisfied. Cannot think of anything at this time.