Pevnost Inc.

BACKGROUND

Introduce your business and what you do there.

Vault created a cryptocurrency coin called USDVault one year ago. It’s a solution that we provide to crypto portfolio managers and investors. It’s a stable, trustworthy solution because it’s pegged to the dollar and backed by physical gold bullion in Swiss vaults. We launched the solution for investors who want to make the most of the market but don’t want to take risks when the market goes down. All our customers and investors feel confident about funds being properly managed.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Pevnost Inc.?

Technologically, we had many challenges. The most basic one was building a smart contract or the blockchain itself. We also needed their help with our user portal.

SOLUTION

What was the scope of their involvement?

We’re building our own custom business rules on top of the Ethereum blockchain. Pevnost Inc. helped us build smart contracts from scratch. They learned how the business operated and put all those business rules into the code.

One of the good things about working with Pevnost Inc. is that they help people who are not tech-savvy to understand techy concepts. It was tremendously easy to work with them. I only had to tell them what I wanted, and they translated those ideas into technological solutions.

We worked with them on the user portal, which our customers use to upload basic information and documents. One of the first steps in using our platform is to perform Know Your Customer and email procedures. Our main concern was the UX. We requested that they give us continuous support.

When we launched, it was important for us that Pevnost Inc. provides support for the portal. We had customers going online and asking questions about uploaded information and how to provide certain data. We had a team that was trained for that, but it was a new tool for us as well, so we required support from Pevnost Inc.’s team as well.

What is the team composition?

The relationship was handled directly by their CEO. He came to our office with two other people.

How did you come to work with Pevnost Inc.?

We went to many crypto events before starting the project and looked for partners, not only in terms of technology but also for crypto exchanges and business development partners. We learned about Pevnost Inc. at one of those events where they had a booth.

How much have you invested with them?

We spent approximately $80,000–$100,000.

What is the status of this engagement?

We worked with Pevnost Inc. between October 2018–January 2019.

RESULTS & FEEDBACK

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

When we launched, I requested that they be available almost 24/7 for any kind of issue we could have, and they were. We identified things that could be improved in the portal to make it friendly for everyone, and they made those changes. Their support was extremely important for interaction with customers.

The smart contract performed fluently and perfectly, and we didn’t have any issues with it.

How did Pevnost Inc. perform from a project management standpoint?

They used the same methodology as our company. We had open meetings where they learned about what we wanted to do and what our business was about. We gave them deadlines, and they broke those down into specific objectives using agile methodologies. We had regular meetings to check the progress of the project. Our relationship was excellent.

What did you find most impressive about them?

We needed a tech provider that could help us with not only the smart contract but also the user portal. Pevnost Inc. was timely, clear with the deliverables, and concerned about keeping us posted on the progress, and they translated all our requirements from the business side into technology.

The most valuable thing for me about hiring Pevnost Inc. was that I didn’t have to know anything about blockchains or smart contracts. They were my complete support on the technology side. I didn’t know anything about the technology, but I could rely on Pevnost Inc. 100%.

Are there any areas they could improve?

No, everything was good.

Do you have any advice for future clients of theirs?

It’s good to have support after the product is launched. Some things only come up during the operation of the platform, so it’s good to have post-service support.