The first and most important step of a successful blockchain PoC is the proper understanding of the projects’ viability and feasibility by the stakeholders. This requires creating a set of proposals that will detail the parameters of the project.
After the requirement gathering stage, which also involves seeking opinion of all the stakeholders involved, it’s time to put the theory to test by preparing a prototype that should include details about information architecture, design, codes and more.
Followed by the MVP stage, a clear roadmap outlining the step-by-step product development process should be prepared. This will not just keep everyone on the same page but will also provide clear picture of the value derived or the ROI that is expected to be generated.
This stage requires developing a product with bare set of features. An MVP is accomplished to see what all things will be viable in a product. This is a stage where end-users would think of trying it.
Ultimately, the pilot project is rolled out for live implementation
We conducted a POC for providing insurance and settlement for the crop industry. Our robust solution helped in automatic settlement of claims based on the iOT data feeds received from weather stations across different districts of that location.
We created a Blockchain Platform for multiple banks who were bugged by suspicious transactions that the conventional system failed to capture. The solution offered by us helped banks to keep a track of ledgers of such singled-out accounts.
We developed a platform for issuing different certificates on Blockchain, which in turn could provide greater transparency while ensure the authenticity of the certificates. Being a decentralized platform, the certificates uploaded on Blockchain can be audited by multiple auditors thereby increasing trust within the system.
We developed a P2P invoice discounting platform for creating a consortium between the buyers, suppliers, logistics and lenders that increased the credibility of the suppliers for invoice-based disbursements. We developed multiple smart contracts for dealing with inefficiencies of the current system such as removing invoice counterfeiting, tokenizing while creating a full invoice trail for providing assurance to the lenders for loan disbursement etc.
We conducted a POC for an oil major that required a track and trace solution for its lubricants line of business. Our team of experts assessed their end-to-end supply and value chain needs and conducted a PoC at one of their plants along with 2 CFA’s, multiple distributors, and several retail outlets. We used Sofochain – our market ready Blockchain based product to streamline their supply chain processes right from the processing plant to the end-consumers.