Project Overview
Juan Carlos Delpino, a serial entrepreneur, reached out to us for technical assistance to help him develop, secure investment, and launch his ambitious project: Instatrust. He envisioned a decentralized solution to protect peer-to-peer (P2P) trades in the emerging crypto economy. We partnered with him from the very beginning, providing conceptualization, technical documentation, and the development of an MVP that would eventually stand out on the global stage.
The Challenge
The crypto P2P market faced a significant trust gap. Without a reliable intermediary, users were exposed to fraud during trades. Juan Carlos wanted to bridge this gap by creating a crowd-escrow service that didn’t rely on a single central authority but on the collective power of the blockchain and smart contracts.
The Vision
- Conceptualize: Transform a high-level idea into a viable technical architecture.
- Secure Investment: Create the necessary documentation and MVP to attract accelerators and investors.
- Resilience: Execute development and participation in global events despite challenging local conditions.
Our Solution
We developed a tool that allowed users to set up a smart-contract backed by a collateral to protect any P2P trade. This “crowd-escrow” model ensured that funds were only released when both parties fulfilled their obligations, with the collateral serving as a guarantee of trust.
Technical Contribution
- Project Conceptualization: Defining the logic of crowd-escrow and collateral management.
- Documentation: Preparing technical whitepapers and project specifications.
- MVP Development: Building the functional prototype to demonstrate the core value proposition.
The Aeternity Starfleet Accelerator
With our technical support and the MVP we provided, Juan Carlos registered the project in the Aeternity Starfleet Accelerator program.
Global Recognition
- Top 5 Finalist: Out of thousands of applicants from around the world, Instatrust was selected as one of the last 5 finalists.
- Honorable Mention: While it didn’t win the final funding grant, it received an honorable mention and significant praise from the Aeternity group for its innovative approach.
Commitment and Resilience
One of the most remarkable aspects of this project was the context in which it was completed. During the final stages of the accelerator program in April 2019, Venezuela suffered a massive, nation-wide blackout.
Despite the lack of power and connectivity, our team demonstrated incredible commitment:
- Attendance: We attended every single event session with the accelerator.
- Delivery: We ensured the MVP was ready and functional for the final presentation.
- Recognition: The Aeternity group publicly commended our team for our resilience and dedication to the project under such extreme circumstances.
Impact and Legacy
Instatrust served as a testament to what can be achieved when entrepreneurial vision meets technical excellence and unwavering commitment.
- Validation: The project’s selection as a global finalist validated the market need and the technical solution we designed.
- Foundation: The MVP and documentation provided a solid foundation for the future of decentralized P2P trust services.
- Reputation: Our work with Instatrust solidified Greicodex’s reputation as a partner that delivers results, no matter the obstacles.
Technologies Used
- Smart Contracts: Sophia (Aeternity’s functional programming language).
- Blockchain: Aeternity Network.
- Architecture: Decentralized P2P Escrow Logic.
- Consulting: Technical Whitepaper & MVP Development.