The client didn’t have a chance to deal with the distributed ledger technology earlier, so the team came up with the initiative of blockchain consulting and onboarding, which was a success.
Blockchain-Powered Web Platform for Distributed Reverse Auctions
Devising an innovative service for construction tender streamlining
Customer location
Europe
Project duration
- 4 months
Client and Business Goals
A well-established European construction enterprise was seeking a robust business automation solution.
As an experienced construction market player, through their career the client has gained a good understanding of progress bottlenecks within their domain. The major were high competition, unpredictable price changes, and unqualified workers. To tackle the issues by means of tech advances, the client made up their mind to invest into an advanced auctioning solution intended to connect contractors with construction workers.
With Symfa’s expertise building sophisticated FinTech solutions for industries at scale, including Real Estate, the team became a hands-down contract winner.
Challenge
Solution
We’ve built a semi-private blockchain-based online web portal for distributed auctions powered by open reverse auction mechanics. To get involved into a cooperation model that meets their interests, construction service providers can bid on their preferred projects submitted by customers.
Underlying Ethereum smart contract-executed business logic, the platform is also meant for escrow-style arbitrage of agreement fulfillment and payment.
Work done
Symfa was responsible for a full cycle of services — from requirements gathering to business analysis all the way to solution development and launch.
- Tech design & software requirements specification development
- User stories-based prototypes
- Solution UX/UI design
- Web platform engineering
Technologies
Results
Symfa fully lived up to their commitments, providing the client with timely and quality feature rollouts. As soon as the team delivered the expected scope of works, Symfa was to hold on with further development stages, as the client wasn’t certain about budget sources anymore. The project is currently paused until the client receives further investment.
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