Enhanced Digital Wallet Platform with Secure Asset Transfer and Robust Recovery Mechanisms

The client’s existing mobile wallet application offers basic account creation and bank connectivity features, but lacks capabilities for asset transfer, withdrawal, and recovery after app reinstallation. The limited functionality hampers user adoption and security, especially as the client aims to scale to a global market with over 50,000 active users and assets exceeding $240 million. The system requires enhanced security measures, improved performance under increased load, fault tolerance, and maintenance capabilities to support growth and protect user assets.

A mid-sized fintech company specializing in self-custody digital wallets for digital asset management and interest earning, aiming to scale globally.

• Enable seamless two-way integration between mobile applications and the digital wallet for asset transfer and withdrawal operations, supporting over $240 million in assets.
• Implement advanced security protocols to safeguard sensitive data, prevent malicious activities, and verify transaction authenticity using smart contract verification mechanisms.
• Develop a reliable recovery system allowing users to regain access to their assets post reinstallation without data loss, leveraging existing wallet recovery protocols.
• Enhance transaction security with biometric authentication options such as facial recognition and fingerprint recognition.
• Optimize system request handling to reduce server latency by 2x, improving user experience during high load conditions.
• Ensure scalability and high availability to support rapid user base growth and increased transactional volumes.
• Facilitate maintainability and future scaling by standardized dependency management and architecture best practices.

• Two-way integration between mobile app and blockchain-based digital wallet for transfer and withdrawal of assets.
• QR code-based transaction address sharing using barcode scanning libraries to facilitate quick and error-free asset transfers.
• Encryption of private keys and sensitive preferences using secure local storage mechanisms to prevent data exposure.
• Integration with smart contract verification systems to authenticate transaction legitimacy and prevent malicious activity.
• Implementation of biometric authentication methods, including facial and fingerprint recognition, for secure app access.
• Migration to local database solutions such as SQLite for managing transactional and user data efficiently.
• Automated interest calculation algorithms for deposited assets to accurately reflect accrued earnings.
• Modular architecture supporting ease of future maintenance, dependency optimization, and code reuse.

• Blockchain network nodes or APIs for transaction signing, transfer, and verification.
• QR code generation/scanning services for quick address sharing.
• Secure biometric authentication modules native to the mobile platform.
• Smart contract verification systems for transaction authorization.
• Relational database systems for storing user and transactional data.

• High security standards to prevent data breaches and unauthorized access, including encryption of sensitive data.
• Ability to handle high transaction throughput with minimal latency, targeting at least a 2x reduction in server response time under load.
• Fault tolerance to ensure system robustness and continuous operation during component failures.
• Scalability to support a user base growth exceeding 50,000 active users and over $240 million in assets.
• Maintainability facilitated through dependency and architecture management best practices.

The development of a secure, scalable, and feature-rich digital wallet platform is expected to significantly increase user adoption and trust, enabling the client to scale operations globally. Key outcomes include the ability to facilitate over $240 million in assets, support a growing user base of 50,000+ investors, and provide a seamless, secure experience with optimized performance and recovery features. These improvements will foster increased transaction volume, reduce operational risks, and create a foundation for future expansion into international markets.