Building a Mobile Platform for Tracking Debts on the Ethereum Blockchain

We worked with Blockmason to build a mobile blockchain application for expense sharing and bill splitting on the blockchain.

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“If you have a fairly large project and need to supplement a team, Very is a great choice.”

blockmason-logo Tim Galebach, co-founder

The Concept

Blockmason set out to change the face of crypto microlending by creating an application called Lndr — a social platform for creating and settling debts with friends using blockchain. The concept is both straight-forward and powerful: to create a new system of social borrowing for cryptocurrency.

 

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Credits and debts are stored on the Ethereum blockchain, but users of the app don’t have to worry about creating an Ethereum wallet or setting their gas prices. By concealing the complexities of blockchain technology behind an intuitive consumer-grade application, Lndr aims to lower the barrier to entry for owning cryptocurrency.

The Process

After building a proof of concept (POC) and establishing demand for the product, Blockmason was eager to launch Lndr. But the existing POC wasn’t ready for primetime, facing latency and user experience issues. Blockmason was actively recruiting developers for the application, but they didn’t want the project to fall behind schedule. So they engaged Very to supplement their engineering team and get Lndr ready for launch.

Our development team started out by analyzing the existing React Native codebase and Blockmason’s blockchain API and identifying areas for improvement. At the same time, our design team formulated a strategy to improve the user experience. By creating wireframes and user flows, we laid out how the application would work in an ideal world and then implemented those changes in order of priority.

Unlike typical Ethereum DApps, Lndr employs the BlockMason Foundation protocol, which unifies login and identity credentials across multiple devices and platforms (iOS, Android, and Web). This protocol simplifies switching between multiple devices and platforms or passing private keys from one wallet to another, essential components for enhancing user experiences and increasing widespread adoption.

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The Results

With the launch of its iOS and Android applications, Lndr combines the draw of social networking with the power of financial flexibility, a partnership that promises high user engagement and scalability. Lndr gives individuals a flexible tool to financially engage their communities, lowering financial transaction costs and encouraging the global development of the Ethereum ecosystem.

In the next phase of development, Blockmason plans to add additional features like autoconversion between a debt’s native currency and Ether; group settlement features; creation of payback schedules; support of autopayments for recurring expenses; and off-chain settlement of debts to increase network speed and decrease transaction cost.

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