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Development of a Secure Cryptocurrency Interest Savings Platform
  1. case
  2. Development of a Secure Cryptocurrency Interest Savings Platform

Development of a Secure Cryptocurrency Interest Savings Platform

ulam.io
Financial services
Information technology

Identified Challenges in Crypto Interest Savings Platform Development

The client requires an accessible, secure, and transparent platform that enables users to build a cryptocurrency portfolio, earn interest, and manage transactions efficiently. They face challenges in integrating security features, adhering to compliance standards, and providing real-time transaction visibility for novice investors in the rapidly evolving crypto landscape.

About the Client

A fintech startup aiming to offer a user-friendly platform for crypto interest savings, targeting beginners and novice investors with transparent and simple investment options.

Key Goals for Developing the Crypto Interest Savings Platform

  • Create an intuitive platform allowing users to assemble and manage cryptocurrency portfolios with ease.
  • Ensure security and compliance through optional security layers and KYC verification processes.
  • Enable real-time deposit, withdrawal, and interest earnings visibility.
  • Automate monthly statements and transaction reporting for transparency.
  • Implement integrations to enhance transaction speed and security, safeguarding against cyber threats.
  • Achieve a goal of enabling beginner investors to earn an annualized interest rate of approximately 10%.
  • Develop and deploy the platform with rigorous testing to ensure bug-free functionality.

Core Functional Components for the Crypto Savings System

  • Two-factor Authentication (2FA): Optional security enhancement for user assets.
  • KYC Verification: Streamlined integration to validate user identity in compliance with regulatory standards.
  • Digital Wallet Management: Deposit, investment, real-time balance visualization, and easy withdrawal capabilities.
  • Interest Generation Engine: Automated monthly interest calculations and distribution based on USDC deposits.
  • Monthly Statements: Automatic generation and accessible reporting of transactions and profits.
  • Security Integrations: Incorporation of transaction speed and security tools to protect against cyber threats, errors, and collusion.

Technology Stack and Architectural Preferences

Python for backend development
Cloud deployment using AWS and container orchestration with Docker, Kubernetes
Infrastructure as Code with Terraform
Robust quality assurance through rigorous testing procedures

Essential External System Integrations

  • KYC verification services for user onboarding and compliance
  • Secure transaction security features such as Fireblocks or equivalent
  • Real-time digital wallet management systems
  • Automated reporting tools for generating monthly statements

Critical Non-Functional System Requirements

  • High scalability to support growing user base and transaction volume
  • Performance optimized for real-time transaction processing and balance updates
  • Strong security protocols with optional 2FA, encryption, and fraud detection
  • Compliance with relevant financial regulations and standards

Projected Business Outcomes and Value Proposition

The platform aims to enable novice investors to confidently earn approximately 10% annual interest on their cryptocurrency deposits. It is expected to enhance user engagement through transparent and real-time transaction visibility, improve security through advanced integrations, and support scalable growth, ultimately increasing platform adoption and customer trust in crypto interest savings services.

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