Product Name: ASTU – Automatic Scheme Track Unifier
Name of Organization: ChainFrame
Year of Incorporation (for startups): 2016
- Tell us how blockchain is implemented in your product/solution :
ASTU is a public fund management platform powered by blockchain and smart contract layers that back a simple and easy to user multilingual workflow for administrators, agencies, citizens and service providers. Astu provides powerful information collection and fund movement processes to ensure that you have end to end visibility into the planning, roll out, and performance of programs. The blockchain is implemented as the primary data structure to ratify transactions. The smart contracts are used to create a robust permissioning system, an effective and automatic asset control mechanism. Using a set of such contracts that live on the blockchain, we have a secure management protocol for identity, assets and contextual data generated by users at all levels, held in distributed immutable blockchains making sure that everything done, can be managed and collected in one source of truth.
- How did application of blockchain improve the above product/solution? Please outline the benefits with a comparison of the way it was done before blockchain.
Many of blockchain’s current use cases could be just as effective with traditional ERP systems. However, public governance is one case where using the blockchain is clearly superior to conventional systems. It provides immutable data, end-to-end visibility of fund flows or permission granted at each node/department. It precludes the possibility of tampering or destroying data at all levels. Further, its transaction and activity history generates new and interesting data about process efficiency within government departments.
- What sort of challenges in implementation/adoption are you expecting?
In implementation, each use case requires a slightly different architecture. Developing the heuristics to balance between user-controlled customisability and the appropriate feature-set is one of our biggest challenges in implementation. Adoption is a challenge to be solved by good design. Our users include everyone from central ministries to regular citizens who may or may not be first time users of any kind of personal computation technology. Designing the platform to cover the spectrum of highly sophisticated, to first time users of the internet, is a difficult but highly enriching challenge.
- Give details of the cost of your solution and scope of scalability:
Our costs are specific to the client and use cases we work with but very affordable (and cost saving) for even governments and nonprofits. Our pricing model includes a licensing fee for deploying the platform and then a pay-for-success plan per beneficiary. Our systems are built with highly scalable technical architectures that leverages the latest state of blockchain technology and can accommodate as many users as needed. In terms of the applicability of our product itself, the scope is immense and Astu is relevant to governments but also to enterprises. It has several data modules that can provide the insight to improve governance and administration in public and private systems. With Astu, we provide a unique way of managing all types of organizations and fund flows to foster trust and exponential efficiency.