A Tokenization Platform On Ethereum Simplified Blockchain-Based Asset Management For A Financial Entity

Expertise: Finance Applications
Verticals: Banking & Financial Services
Technologies: Smart ContractWeb3JSMongoDBNode.JSExpress.JS
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Client Overview
An investment business wanted an end-to-end tokenization solution to create and manage blockchain-based assets. As a leading name in the finance and banking segment, the client is deploying a network built on distributed ledger technology that people can access with a minimum fee of US$1. Being a blockchain development partner, we used Ethereum to build a tokenization platform. Our team used cron jobs for redeeming tokens and relied on web3.js to improve the interactions among smart contracts. Once deployed, the decentralized platform empowered investors to operate their assets directly without involving third parties.
Business Needs
Being a digital leader in offering blockchain-based assets, the client was looking to build an end-to-end solution for tokenization. The tokenization of assets is supposed to bring numerous benefits that will transform the way the financial infrastructure works. The platform was supposed to be robust enough to also create and manage multiple blockchain-based digital assets. By deploying this platform, the client was looking forward to delivering 24/7 liquidity to customers. Some key business needs that the client wanted to meet are mentioned below.

  • Building a tokenization platform to create and manage blockchain-based assets
  • Delivering multiple investment opportunities over a single platform
  • Bringing a variety of innovative assets, including tokenized securities, cryptocurrencies, tokenized real estates, and stablecoins
  • Tokenizing securities on blockchain to make governance and ownership of tokens reliable and transparent
  • Simplifying the management of blockchain-based assets
  • Streamlining how a user will create wallets and access them
  • Introducing next-gen transparency in fund-dealing with different instruments - compound funds, solar energy funds, fine wines funds, tokenized art funds, etc.
Strategy & Solution
To put this platform from paper to the real world, the client was looking to team up with a dependable blockchain partner. This is where we came in. The client collaborated with us to build a robust tool to help investors and managers make smart investments. After multiple sprint sessions with the client initially, we zeroed in on leveraging Ethereum. We began setting up programmable smart contracts that streamlined the creation of multiple tokens, representing underlying assets such as real estate, commodities, funds, and equities. Owing to the fact that the tokenization platform was built on a decentralized ledger, the client did not require branches operating in separate regions. Instead, as the solution was built over blockchain, it helped the client reach investors worldwide in a few clicks.

Our team of front-end specialists designed a fluid user interface with the latest components of React to create simplicity on top. Every screen of the platform was built, keeping in mind UX best practices. Here are a few features that the front-end of the platform offers to its users.
  • Simplified the way new users get enrolled on the platform
  • Allowed transactions only when the admin approved user credentials - name, ID proof, address proof, photograph, and phone number using an OTP sent on the registered email/phone number
  • Verified the authenticity of users by confirming the wallet address like metamask/Torus while they logged in to the system
  • Incorporated provisions into the platform to buy tokens through plastic money
  • Integrated provisions into the system to invest and redeem tokens to make a history page showing users about previous transactions
  • Deployed a dashboard to check the value of funds, the share of tokens, etc.

The backend on the website uses the power of Node.js and MongoDB to server the request in an optimal manner. The entire blockchain application is powered by Ethereum, and the transactions on it are governed by smart contracts. Here are a few of the tested features that are present in the backend of the application.
  • Leveraged web3.js to streamline interactions among smart contracts
  • Used Node.js to build a high-performing runtime environment
  • Harnessed cron schedule for redeeming the token to the user in a fixed-time development process

Development process
From the start, we embraced an agile work methodology. This methodology has proved to be helpful in handling project requirements and has given room for accommodating anything urgent that comes up from the client's team. Some of the key factors that governed the development process are mentioned below.
  • Brainstorming the project requirements and defining work-related milestones
  • Detailing project outlines and defining roles and responsibilities related to the project
  • Delivering periodical work reports to the client and arranging sprint meetings with it
  • Accommodating any additional requirements during the project
  • Testing the deliverables before they reach the client
Business Outcomes
Once the blockchain application went live, the client was able to help common people experience the power of a distributed ledger. The client was also able to attract more and more investors as it delivered 24/7 liquidity to investors. Here are some key benefits that the client was able to reap once the project was deployed by us.

  • Enabling the purchase of tokens and redeeming them 24/7
  • Removing the need to trust a third party to execute transactions
  • Accelerated the pace of transaction processing by a wide margin
  • Bringing added layers of security as the transactions on the blockchain are immutable
  • Allowing investors to operate directly together without any intermediary
  • Setting rules and restrictions for token-holders ensuring that only qualified investors can purchase and hold tokens

Client's Speak
The blockchain application was done as scheduled and is performing as per expectation. The platform users have given positive feedback as this application has added immense value to their business.

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