A smart contract-powered loan platform
In a world of constant change, financial institutions have to iterate their business models and adopt new technologies. One of the most impactful new technologies is the blockchain, which has brought new possibilities to the fintech space, such as cryptocurrencies and smart contracts. That’s where Moneda Financial’s owners saw their opportunity.
Our challenge was to create a platform based on smart contracts that allows people to bet on the market price at which an IPO would end. The user who selects the closest price wins.
We needed to test this idea with a minimal viable product ahead of future development.
We built a web application based on Node.js and React, allowing users to execute these bets. Each bet is represented by a smart contract containing all the necessary information and logic for the transaction.
Once the IPO’s final price is determined, the Smart Contract is enacted according to the algorithm, and the reward is delivered in the form of a new crypto — Moneda Coins.
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