A Swiss Fintech on a Mission to Make Crypto Wealth Management Accessible to Everyone
Read about the Development of a Mobile App that Lets you Predict, Learn and Earn Bitcoin
Introducing innovation to old-fashioned industries requires two things — bold thinking and thorough execution. At SoftwareMill we’ve had an amazing opportunity to work with the founders who combined both creating SwissBorg. This Swiss company was started with a mission to reinvent the banking model and their first step is The SwissBorg Community App that lets you predict, learn and earn bitcoin.
Fixing the crypto wealth management problem
Cyrus Fazel and Anthony Lesoismier, two friends, with a background in asset management founded SwissBorg to realise their vision of making the finest financial services available to a broader public using the latest technology. Cyrus explains the evolution of their thinking,
“holding Bitcoins for some time and getting more familiar with smart-contracts, we finally realised that the solution lay there. Blockchain would enable us to have the maximum reach and accessibility we required. Tokens would enable us to create any tailor-made investment mandate with no cost or intermediaries. Moreover, on top of this, we could leverage a strong community with decentralisation based on a trusted meritocratic system.”
After ten years in banking and asset management, Anthony Lesoimier’s was sure of one thing: “the bank needs to reinvent its model.” Technological advancements, changes in investor behaviour create a great opportunity. The degree of innovation compared to other sectors is low in the financial industry. Telephones have evolved faster than banks, adapting quicker to technology. Anthony explains,
“As often happens, the epicentre of the imbalance between the institutions and the end customers of an industry lies in the asymmetry of information. Clients are captive due to the lack of transparency and accessibility provided to them. Until now, there was no real solution. Today, thanks to the blockchain, the rules of the game can be changed, and we decided to take up the challenges at SwissBorg.”
A community app to educate about the crypto wealth management
The SwissBorg Community App was conceived as a pre-launch campaign for the showcase upcoming product the SwissBorg Wealth App. The team decided to use a Bitcoin price prediction game app as a pre-launch product. The purpose was two-fold:
1. To educate, raise awareness, and help bring mass adoption of blockchain technologies and crypto.
2. To act as a pre-launch to our upcoming Wealth App, attracting people to join the SwissBorg community.
Finally, the App, allowed the team to test their IT architecture with a high level of security in preparation for the Wealth App.
The SwissBorg Community App is a simulation game for predicting the daily price fluctuations in Bitcoin where users compete to reach the top ranks. The best players receive rewards from a pool of Bitcoin ($1 is added with each new player, the total prize value distributed among all participants amounts to a maximum of $500’000) and priority access to the SwissBorg Wealth App, to be released in Q4, 2019.
As Head of SwissBorg Asia, Ken Yagami explained, “we always want to innovate, because we are building an amazing mobile app, our objective is to take product pre-launch campaign to the next level with a teaser app rather than a simple mailing list.”
SoftwareMill’s backend skills — what we brought to the project
We’ve developed the forecast module which evaluates bids versus the exchange rates every 24 hours, and also calculation module that counts each player’s score. Additionally, we created an advanced notifications module that sends emails, SMS and push- notifications to users notifying them about the result of their latest bids.
Apart from programming, we also engaged in Kubernetes implementation in the project. We joined the client’s team on-site to share our knowledge, experience and make the implementation smooth.
Asked about our collaboration Nicolas Rémond, SwissBorg’s CTO highlights our skills, professionalism and a clear set of best practices we follow to ensure the highest quality of the developed software:
“SoftwareMill allowed us to fill the gaps, helping us shape the transition from a small group of in-house engineers to a much larger team. SoftwareMill provided us, not only, with skills that we didn’t possess but with a refreshingly different point of view on specific problems. Their professionalism helped us create a sustainable system that fits our needs. We learned to identify and understand what is required and how to implement the process correctly with excellent test coverage. SoftwareMill’s success is because the team has a clear set of rules to follow, and employees have the skill set necessary to work remotely. Communication and collaboration were easy and fruitful assuaging all qualms about working with a remote team.”
Want to know more about the details of this project? Read a full case study covering this project.
