US-based startup Remaster wanted to improve its existing product for trading & owning digital assets. It had issues such as low throughput and high processing times for licenses. The product needed a KYC system to comply with security & regulatory requirements and a secure, reliable payment system to allow real-time & smooth transactions.
Remaster chose Gophers Lab as its development partner to enhance the product. Gophers Lab redeveloped the licensing system in Golang to improve the throughput and reduce the processing time by three times. A secure & encrypted KYC system was built to ensure compliance with the US regulations and avoid data breaches. Additionally, Gophers Lab developed a modern API for Remaster to help businesses securely and seamlessly connect to the US payment networks.
About The Customer
Remaster, Inc., is a US-based startup operating out of California, with its development teams in India and Singapore. Remaster leverages Web3 technology for its product and uses Ethereum to support decentralization.
The product helps the entertainment/marketing industry and individual artists with the future of digital assets and their flow across businesses and individuals. It supports licensing the assets for its customers by automating the complex legal license creation and onChain data validation using the Ethereum network.
The Remaster team needed some help with the current product. They were looking to solve the following problems:
- The existing automatic licensing system had a complex codebase. It was slow, with the processing time for a single license being about 7-8 seconds. Hence, achieving high throughput took a lot of work, consuming way more resources, which was not feasible and maintainable.
- The product needed a structured system to meet US regulations. The client wanted to build a well-planned, secure, and encrypted KYC system to avoid regulatory issues and data breaches.
- Remaster was looking to build a secure and reliable payment system for the product to support Automated Clearing House (ACH). The client wanted to transfer fiat from one bank to another with real-time events, allowing smooth transactions for business and individual owners.
Remaster chose to work with Gophers Lab to leverage its expertise in Golang to overcome the challenges. The engagement began with work on Automatic Licensing and KYC, later adding a Payment system to the scope of work. Gophers Lab implemented the following solution for Remaster:
- Rebuilt the automatic licensing system in Golang
- Utilized Golang’s concurrency to achieve high throughput and its simplicity for code usability & maintainability
- Implemented go-ethereum library and Application Binary Interface (ABI) for Web3 calls
- Implemented Veriff for individual KYC flow, authCom for business KYC flow, and a well-encrypted structure to avoid any failure condition for KYC, making it compliant with US regulations, avoiding any discrepancies & maintaining simplicity
- Made use of Dwolla payment service provider to offer a modern API for businesses to connect to the US payment networks seamlessly
- Used Plaid to connect their financial data to the product and an eventing system to update users for transactions & other related events properly
Tools & APIs
Veriff, authCom, Dwolla, Plaid
The solution implemented by Gophers Lab helped Remaster achieve the following outcomes:
- Reduced the license processing time by three-fold
- Improved the performance to achieve high throughput
- Made the code error-free, maintainable, and reusable