Each phase of our process builds on the previous.
- Assess the possibilities and benefits of blockchain for your organization
- Architect the structure and specifications for a viable blockchain solution, including token or funding
- Develop the blockchain and token system from implementation, funding, and testing, to launch and support
No two He3Labs engagements look the same as answers to questions in one phase inform the next. Sometimes a phase is quick and simple, other times phases are intensive as we navigate nuances, escalate opportunities, and leverage experts to inform details that become the basis of a viable blockchain solution.
Our first phase helps you assess blockchain and what it can do for your business, token offerings and how they affect your blockchain strategy, and the right distributed ledger technology choices for your specific solution. Considerations for this phase include:
- What does decentralization using blockchain do for our business?
- How can blockchain bring our business cost reduction and time-to-market advantages?
- Is blockchain right for our business?
Tokens and Funding
- How can funding using a token intersect with our business technically, legally, and financially?
Blockchain System Concepts
- What are our options for blockchain platforms and how are they different?
- How is NEM blockchain different from Bitcoin, Ethereum, Hyperledger, or other blockchain technologies?
- Can blockchain connect with and enhance traditional backend IT systems?
- What are “smart contracts” and are they important for us?
- Can my existing developers build on the blockchain platform we choose?
- What is the difference between public and private blockchain and how are they used?
Our next phase defines the blockchain system and business structures and specifications to deliver performance, scalability, auditability, and security that matches your business needs. Through this phase, we plan how blockchain backend systems can connect to critical business practices and existing services, and identify and structure token offerings. Considerations for this phase include:
- How will we build a streamlined blockchain system to serve applications like account management, auditable transaction records, supply chain management, IoT networks, secure document/asset management, payments and remittance, rewards program management, voting and governance, tokenized securities, and more?
- How do we provide auditability while also ensuring proper privacy and data protection?
- What is the right blockchain technology and what are its limitations, costs, and development features?
New Token Design
- What is the difference between a utility token, tokenized security, and cryptocoin?
- How can tokenized funding – such as an ICO, SAFT, or tokenized security – intersect with our business technically, legally, and financially?
- How do we design the Tokenomics of my token to both provide an attractive offering to investors, but also enable the business model interaction that we want?
- What are the various “tools” and implications of Tokenomics design?
- What are the critical investor factors to consider with regards to exchange support, hardware/software wallet support, and security?
Backend Systems Architecture
- How do we design a complete, enterprise-grade IT system that includes and leverages blockchain?
- What data should be stored in traditional databases vs. blockchain?
- Where should we run the critical business logic that defines blockchain usage?
- What API gateways should we define for different forms of internal and external access to a private blockchain?
- Where are “wallets” stored and how do we and our customers manage them?
- Can a microservice-based approach to blockchain access make sense?
In the final phase, clients implement, test, and launch final blockchain systems and tokens. For some clients, He3Labs’s team of top enterprise developers build a custom blockchain backend solution for your organization. In other cases, we may transition a considered architecture to a client’s own internal development team, or to a third-party developer for build and long-term support. Whether or not the final system is developed by He3Labs, considerations for this phase must include:
- Can you help create a specification and a possible development roadmap for developers?
- How can we split our development into logical phases to launch quickly, then build on our success?
- How will my blockchain solution grow with further technological innovation?
Testing and Scale
- How do we test for security against external penetration?
- How do we design my system so that we can rapidly and effectively scale with success?
- How do we provide long-term systems administration and development support?
- Who do we work with for exchange support (either open or securities-compliant)?
- How do we create a prospectus for investors or a white paper that is technically accurate and compelling?
- How do we conduct a funding event making use of my token?