MPCX’s MVP and Beta Platform Technical Implementation Process.
Learn more about the MPCX “Smart Contract Engines” that make extensive use of Smart contracts to allow for secure, transparent, and trustworthy interaction between engines for a high quality services.
The MPCX platform will consist of several components, which we regard as engines, as illustrated in the following figure. The platform will be built on top of a smart contract supported public blockchain platform, such as Ethereum, which already provides a pseudonymous identity functionality. However, to ensure accountability, the identity of each entity (actor) within the MPCX platform will be properly verified through a rigorous KYC (Know Your Customer) process. Then, each of these physical identities will be anchored with a corresponding virtual pseudonymous identity facilitated by the underlying blockchain platform. This will be accomplished by creating an Identity Engine within the MPCX platform. The core functionalities of such an engine will be built in-house. However, for the beta platform, to allow our clients to get access to our products early-on we might utilize services from existing e-KYC providers and then replace them with in-house created solution later on.
The MPCX platform will consist of several smart-contracts serving different purposes. In particular, the components of the platforms will mostly interact with the underlying blockchain using the corresponding smart-contract. How we develop the smart-contracts will depend on the blockchain platform. For example, where we will use Ethereum our smart-contracts will be written using the Solidity programming language.
The Index Engine will be responsible for calculating the three crypto indices mentioned in the whitepaper. Since the price of crypto-currencies are extremely volatile, each of these crypto indices will be refreshed in real time by the Index Engine. For this, the Index Engine will communicate continuously real-time prices of different crypto-currencies from major cryptoexchanges. The retrieved prices will then be analyzed using different mechanisms to identify the best quotes within a period of time, which then can be utilized to update the portfolio of the crypto-indices.
The Digital Smart Investment Mandate (DSIM) Engine is responsible for providing the DSIM service of the platform. We will create a chatbot, acting as the Roboadvisor, to interact with clients. Such a chatbot will be developed using Artificial Intelligence (AI) mechanisms. We are in conversation with a few commercial chatbots to be used at the beta stage whilst our in-house solution is being created. This will allow us to deploy the DSIM service to clients earlier.
The clients of the MPCX platform will utilize the XDMC tokens to pay for services inside the platform. These tokens will be handled by a smart-contract and will be forwarded within the MPCX Platform between other smart-contracts belonging to the different components of the MPCX platform. The Transaction Engine will facilitate the flow of tokens between the smart -contracts of different components.
It is to be noted that the figure above only highlights the core components of the platform. There will be other different components, for example a report generation engine, which were skipped for brevity at this point.
Considering that the KYC and AI chatbot service in the beginning will be created using an e-KYC provider and a financial chatbot service provider, we will still need to hire at least three experienced Ethereum /blockchain developers for writing the smart-contracts as well as developing DApps (Decentralised Applications), two experienced software engineers with machine learning/AI experiences, an iOS/Android developer to release an app for iPhone/Android, and a UI/UX developer for the web. Then we will expand the team gradually. We believe, with this team in place, we can develop the first iteration of the two products in around 8 months.
We are planning to start MVP’s technical implementation very soon and release our MVP before the first ICO Round in July 2018. This should increase the level of trust among our community. The platform’s beta version release is scheduled for 8 months after the MVP release.
To learn more about MPCX and XDMC Token readers can visit our website https://mpcx.co, read the MPCX’s Whitepaper or simply join us on our social media channels: Facebook, Twitter, Medium, Instagram, YouTube, Telegram and LinkedIn.
