We began our startup journey in 2012 while we were in college. During our initial days we pursued ideas that we were really passionate about. We even had a dating app that was trending at top 10 social apps in India (it failed a year later but still ;) ) We never really cared about the salary we took back then since all of us were passionate about the growth of our business. But as years went by trying product after product, we are right now in a stage where we are scaling up our business in Agri tech (blockchain based traceability) sector.
The issue we have as a scaling team is about keeping our team (around 30) motivated to put their 100% in the work they do. Of course, we do have an amazing team but their passion for the growth of our company can never be compared to what we have as cofounders. We as co founders never considered us as a team but as a family, sharing our revenues, working towards the greater good. Due to the corona crisis, our team works 100% remotely so keeping up the team dynamics as a family has become even harder.
This lead us to few conventional thoughts of bonuses and gamifying work place tasks. Bonuses are okay but it doesn't really make our colleagues think about growth of our organisation as a team. What we needed was a way for our team to get rewards but also gain even more when our company grows as a family. This will enable them to think more as part of a family that grows together than as an individual. So we decided to create CIED Coin! In short it is Corporate Gamification Using Crypto. Through this we create corporate token to gamify everyday tasks! We then thought why should we limit it to ourselves while we could scale this up as SAAS product.
What it does
CIED Coins is a crypto-based rewards application that enriches your company culture, improves employee engagement, and improves operational efficiencies. With CIED Coins, your team can applaud and appreciate their colleagues by giving small bonuses as CIED Coins that adds up to meaningful rewards. The value of the coin is tied to profits your company make. So the bonuses your employees receive as CIED Coin can be cashed out at a later stage by the employees by investing and trusting your company's growth. If you company registers with us, we will help you define a reward system following productive gamification theories (Example: Make employee accomplishments tangible with achievement coins, appreciate their milestones and activities polished off with task coins, and make them know that even there mere presence matters with attendance coins). Our APIs can connect with your internal tools to automate the rewarding process. Your employees can use the coins they earn to transact between themselves, use it to buy goods or services from online stores, or convert it to fiat currency to any bank account based on the value of your corporate coin.
How we built it
After figuring out this idea and deciding on the features and capabilities of this product the next decision was finalizing the tech stack and the services that should be used to accomplish our vision. We needed an affordable and fast Blockchain tokenization service that we could rely on, but at the initial phase, there was no such service available. The available options were expensive, complex, slow, or do not have native tokenization support. This was a huge setback for the implementation. Then Hedera Hashgraph launched tokenization. It was everything we needed for this product. It was affordable, fast, simple, and reliable.
We had a short timespan to craft this service, hence we can say that we used the perfect tools to build this product, these tools which we already had expertise on. This disadvantage of being timebound did not stop us from being innovative and choosing the right services. The backbone of this product is the Hedera Hashgraph tokens and the smart contracts, and consensus service. We chose to build our server in python Django because of our expertise and the existing security architecture we internally built around it. But there was no direct and secure way for the server to interact with the hedera system using python. This opened up windows of innovation. We made 2 secure gateways that will smoothly co-ordinate the blockchain interactions, one in Django and one in Node.js using Express.js. The Node Js layer acts as our blockchain middleware which wraps the Hedera layer.
We chose to build the client-side of things initially on mobile devices. This would enable easy access and smooth interaction for the product. As time was a resource that we couldn’t waste we had to choose a framework that was cross-platform and enables reusability with the web. Hence our choice was Ionic which allowed easy development with Angular Web development. The Web app is still in development and will be available with the necessary admin UI, metrics, and control. For the initial phase, CIED coin will be a mobile-first product.
What's next for CIED Coin
Rome was not built in a day so is not CIEDcoins. But we do have some amazing plans for our future!
A web interface for the administrators CIEDcoins is currently a mobile-only application, but we do realize how tedious it can be for administrators to work on a 19-inch screen.
Payment gateway integration As fintechs are taking over, we plan to integrate a payment gateway that will help our users to process credit, debit and other alternative online payments, within our application.
Wallet restore options You might lose your wallets or change your phone but we want to prepare CIEDcoins to be future-proof, with easy restore options to regain all your funds.
Private key for every user We want you to have complete ownership of your funds. On CIEDcoin, we aim to provide you with the facility to automatically generate and store private keys, just for you.
Third-party integrations Project management tools have become integral to any organization. Soon you will be able to link CIEDcoins to your tasks on JIRA or schedules on TimeCamp.
Event management for your team Manage team meetings, brainstorming sessions and celebratory events through the application, so that you can reward the best performers rightfully.