Blockchain Platform Disrupts Traditional Lending
Soteria, a blockchain-based fintech startup, sought to revolutionize investing and borrowing by creating a user-friendly platform. Facing the challenge of developing this sophisticated technology, they turned to Provoke for assistance.
Soteria approached Provoke with a clear goal: create a blockchain-powered finance app that would resonate with both investors and property lenders. Soteria, a company founded with the vision to bridge the gap between these two parties, sought Provoke’s expertise to make this vision a reality.
We set out to create a user-friendly platform that would seamlessly connect borrowers with investors using blockchain technology, thus ensuring secure and transparent transactions. The goal was to simplify and democratize the investment process, and the Ethereum blockchain would be the cornerstone of this initiative.
With the project’s goals defined, Provoke’s team, consisting of a Tech Architect, Blockchain SME, Senior Tech Leads, Full Stack developers, and a QA Software Tester, engaged in a collaborative agile delivery process. Working in two-week sprint cycles and demonstrating progress at the end of each sprint allowed for continuous feedback and adaptation.
The technology stack selected for the project included the Ethereum blockchain for conducting public yet anonymous transactions and the Fireblocks system for robust user wallet and key management. The Microsoft Azure Platform was chosen to leverage an event-driven architecture, optimizing efficiency and responsiveness
Upon initial release, the application attracted an impressive $8 million NZD investment upon its debut. The application allows users to invest in various finance vehicles for property developments through transparent and secure methods, enhancing user trust and satisfaction.
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