AuraBlocks is currently involved in several proof of concept (POC) projects. Some as mentors to the Carolina Fintech Hub – Generation Blockchain Challenge, with others as engagements from private institutions. Below is a sample list of projects we are currently engaged with.
Clinical trial research suffers from issues with complex and long a drawn-out process with associated issues of high cost and lack of transparency. Data needs to be precise, private and anonymous from Phase 1 to product approval. This project will create a transparent, historical and immutable storage of data, accessible by multiple parties who are authorized to access limited data sets. One comprehensive data set, updated in real time, distributed within the network and highly secure.
When transacting a purchase/sale of real estate, there are many processes the two parties must comply with in order to transfer title. All of these processes are slow and costly because filed records can’t be trusted. This project solves the issues surrounding title ownership and all associated future modifications to the property by using smart contract transaction execution to speed up processes. This solution will reduce costs and verify all records of current property in real-time.
Several standards exist for reporting and communicating public outbreaks of diseases. The reporting needs to be private, secure and rapid so the data can be analyzed. Currently, no interoperability exists between data sets. A new ecosystem is being created that will allow for interoperability, transparency and rapid integration of data to find effective solutions to public health issues.
Handwritten prescriptions are difficult to read causing delivery of wrong medications, wrong dosage and significant delays. If patient or doctor office is using a “captive” pharmacy to fill prescriptions, then that pharmacy has a monopoly on costs, delivery and timing. This project creates a Smart Daap that captures the doctors authenticated data, exports it to the patients’ smartphone and allows pharmacists to compete in filling the prescription based on the patient priorities – costs, location, delivery time etc.
Manual entry and verification of private and sensitive customer-specific information at the financial institution’s initial point of contact can cause mistakes, delays in processing and identification mismatch. If the same person opens multiple accounts at multiple institutions, these mistakes can exponentially increase. This project solves the issue at the initial point of contact by creating an immutable genesis record. The information is verified by customer and institution. Moving forward, the customer can control the release of pertinent information to satisfy the institution’s request. 1 data set, historical, transparent and immutable.
Renewable Energy Credits (RECs) trading is highly restricted by restricted market access and authorized participants. The process is mostly manual, riddled with fraud and extremely difficult to negotiate between interested parties. This blockchain based trading platform solves this issue, enabling a consortium to onboard participants where smart contracts can negotiate and execute trades. This marketplace efficiently will also allow for an audit trail and multiple RECs products.
In general, statistics reveal less than 30% of graduating students of a traditional college feel they are prepared for the workforce, with the cost of attending college increasing exponentially. This blockchain based platform offers projects where students complete the projects and reviewers serve as mentors for completion. All projects and skills associated with projects, assignments, reviews, attained skills and grades are recorded on an immutable database. The results are controlled and released by the students.
When a contractual violation exists between two parties and they enter into arbitration, a tremendous amount of time and human resources are expended to verify each parties interests. There is a need to verify events, whether contractual obligations have been met and funds have transferred. This blockchain platform manages the contracting parties and by using a smart contract, it incorporates each party’s obligations by creating a self-executing and regulating instrument. It provides complete transparency of the process amongst the stakeholders.
Oil and Gas trading is known to have multiple intermediaries to enable the process of trade and settlement of oil and gas contracts, driving up the price of these contracts and increasing the time to settle these trades. This blockchain based project creates smart contracts on a decentralized trading exchange to verify inventory, delivery schedules, and future trades.
Customers today accumulate miles and loyalty points with different merchants. They struggle with redemption and keeping track of these points. This blockchain platform enables merchants and customers to have full transparency of points issued across their customer base and seamlessly issue, manage and convert their customer cards and points across a wide ecosystem of merchants partners.
Lenders and borrows today are challenged with information asymmetry in the loan onboarding process resulting in higher rates for borrowers, and lenders taking unwanted risk onto their balance sheet. Due to lack of transparency of financials and increased frauds, AuraBlocks developed a blockchain based smart lending marketplace solution which seamlessly connects lenders and borrowers by sharing secure financial information of the borrower. Smart contract monitoring of financial covenants results in lower rates charged to the lender, a better balance sheet and higher growth for the lenders.
We are seasoned engineers, entrepreneurs, architects and business leaders who have successfully supported and delivered enterprise class solutions to multi-billion dollar businesses. We deploy Industry transforming, enterprise level, Hyperledger teams to “Rock” your industry. Block by block, we identify and address critical early stage gaps and together, we deliver on the promise of Blockchain enabled business productivity. Our advisory services comprise of building your future blockchain roadmap, identifying high value opportunities for Blockchain in your enterprise, business case development and product fit analysis.
We are seasoned financial services technology professionals who understand and ideate enterprise solution engineering. You can implement with our team or we can train yours. Fintech and all business blockchain frameworks hosted by Hyperledger is our first language, but we flow between permissioned and public networks with agile best practices. We’ll train your enterprise to Blockchain success.
We deliver Hyperledger blockchain frameworks and platforms. Examples include: Use Case Development, Rapid Proof of Concepts; Creation of Center of Excellence, New Product Innovation; Vendor Products Edge Integration with Enterprise Systems; Operational and Maintenance Support. We build on Blockchain just as we have engaged with previous businesses operations. We’ve deployed best of breed technologies around Cloud Adoption, Digitization, Big Data and Analytics.