Having an idea is just the beginning of every project. To demonstrate its feasibility and practical potential, you’ll need a Proof of Concept. A Proof of Concept (POC) can either be a Prototype without code or an MVP (Minimum Viable Product) with a minimal feature set. The Prototype is needed for the organization-internal decision makers such as the Board of Directors, CEO, or others, who first need to sign off on a project before it starts.
Our Proof of Concept Service is unique. We help you present a potential solution/idea to the decision-makers in your organization to secure further resources for the full development of the product. Decision makers always want to reduce risks, and we understand your need to show the viability of the project with minimal resources.
It is extremely important to estimate the potential of a project prior to its delivery. This could be termed as a PoC (proof of concept), which indeed is the first and the most important stage of Blockchain development. A POC allows organizations to gather response about the potential and feasibility of a product or a service while providing stakeholders an opportunity to evaluate design choices that too during early stages of development. However, a successful blockchain PoC starts with a sound strategy and includes defining existing and anticipated business processes, identifying risks and limitations while creating an architecture and prototype for the same.
At Brainsmiths Labs, our team of experts focuses mainly on the concept of Blockchain application for detailing the plan to potential clients. We help our Clients explore the application of Blockchain technology to address genuine business challenges. Ultimately, we assist our Clients with all the necessary technical, strategic and delivery expertise required to launch a successful PoC.
At Brainsmiths Labs, we understand that preparing a Blockchain proof-of-concept is a time-consuming process and may take few weeks to some months, basis the complexity involved. We thus follow a lean app development methodology to deliver projects within short time-frame and within a reasonable budget.
While creating a POC, we assist our Clients through various stages of PoC that will eventually help in creating a potential solution for project viability.
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 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.
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.
Brainsmiths Labs team grasped the concept of my project very quickly and began working on the initial skeleton design, completing this in great time. The next phase, statistics coding, was always going to be time consuming but again, I was very happy that they got back to me with any little queries that ultimately saved time on the project management has been superb, great communication and understanding and all very professional and friendly.
Brainsmiths Labs did a fantastic job. They corresponded with every step. Before I knew it , the job was completed, 100% perfect. I will be working with Brainsmiths Labs again. They had great knowledge of the work to be done. Excellent job.
This is by far the most professional company I have used so far. Absolutely brilliant with speed, price and communication. I highly recommend Brainsmiths Labs to anyone wanting a job done properly. Blown away by the speed that Brainsmiths Labs completes jobs. Professional and excellent quality of work. Guaranteed plenty of future work from me
My first work with Brainsmiths Labs and I must tell you this is a different experience. First - very professional. I worked directly with their project management who was very professional, very experienced and bridged any communication problems we had. We had all kind of IT problems on my side, but they were able to manage around them and fulfill the project. This was a test project for me and I will sure to be working with them again.
What impressed me the most was Brainsmiths Labs understanding of the requirements of the Bill Tracking Solution we needed, and the ease with which we could communicate with Brainsmiths Labs’s teams. We had selected Brainsmiths Labs as they came well-recommended, and Rishabh scores 10/10 for Response Time, Application Security and Quality of After Sales Training and Support provided to our users.