Our client requirements were to design an accounting solution that would consist of multiple wallets, several cryptocurrencies, and several other features. Their aim was to find the perfect accounting solution based on blockchain by reducing the number of tasks, dividing them into smaller ones, and constantly monitoring the performance in real-time. The client also required a real-time overview of their assets, including the transactions for several networks like Polygon, Bitcoin, etc.
Our solution was to first allow Vrinsoft’s skilled team of developers to spend time with the core technical team of the client to gain a full-understanding of the project. We proposed developing a platform that natively integrates token-based payments. It would be a system that integrates all the features into one good solution like accounting, invoicing, cryptocurrency wallets and more. This was essentially to be a website application with a detailed backend administrative panel. We technologies picked for this project Python, Django, Java, Amazon SNS, SES, ELB, CloudWatch, Testflight and several others.
Why we chose this solution: The project was all about creating an accounting solution that would include the use of Cryptocurrencies. Hence the website was developed using the Blockchain technology.
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The reason we chose Python is that it has been around for a while and is a robust language that is extremely versatile and effective.
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This happens to be a simple language that also has several free packages for Blockchain development.
01. Real-time Overview
Users can track the portfolio value in real-time and gain an overview of all assets.
02. Wallets
Ability to connect, group, organize addresses for various ledgers.
03. Organize Contacts
Allows users to organise the contacts to perform tasks like invoice generation and other transaction related tasks simpler.
04. Reports
Generate essential accounting reports with a click of a button.
05. Invoice
The platform allows users to create crypto-to-crypto invoices and share it effortlessly with the clients.
06. Dark Mode
User will have the ability to change the background color of the app based on their preference and take advantage of the 'Dark Mode' feature. This helps reduce the eye strain associated with the blue light emitted from electronic devices like mobile and computers.
07. Metamask
The system will allow users to access their wallets on Metamask to pay the invoice while ensuring the very best price and lowest network fee.
08. Cloud Storage
Cloud storage for the application owners ensure the confidentiality and security of their data.
09. Chatbot
Customer support system for the users to get answers to their queries at any time of the day. This is an automated chatbot system.
10. Notification
Keep the users well informed with the help of an efficient notification system.
With great advancement in technology a digital solution like website or mobile application is ideal for any finance company. Technology and finance always go together. Upgrading systems or developing new and smarter systems for the consumers is the best way to increase the efficiency of a financial institute. A FinTech system can help reduce costs, increase profits, automate tasks, increase functionality, and improve usability. Blockchain is ideal technology for new finance systems and is creating waves in the world of business.
This FinTech project was a success in many ways. It exceeded the initial expectations of our client and they thanked us for it.
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