Today, there are more people with a smartphone than a bank account. This is due to a variety of factors, including no access to banking services, lack of trust in banks, and even age restrictions. There are no such restrictions to owning an internet-capable device. Many business cases these days involve apps, which not only increase the usability but also the potential user base. In some cases, however, an app is overkill. For many of our customers whose business case is a simple Token Sale, all that is needed is a wallet, and it is usually better to recommend one of the many existing wallets instead of developing one from scratch.
Typical app use cases
Essential Blockchain App Functions
A wallet simply reads the number of tokens owned and facilitates sending tokens to another address. A blockchain app is a very different animal, adding necessary functionality for more complex business cases. Unlike a wallet, a blockchain app is not just a few forms and a backend, but instead needs a sophisticated multi-layered infrastructure that functions like clockwork. The key element of a blockchain app is the secure handling of private keys and private-key bound digital assets, whether these assets are just documents (“data”) or quantifiable values (“Tokens”). And of course, it needs a safe and secure mechanism to let users commit transactions on blockchain, which is an immutable ledger. The counterpart on blockchain is a framework of core smart contract functions that lets you save on the development cost of custom smart contracts in most cases.
The White Label App
This is where our White Label App (WLA) comes in. Ideal for virtually any blockchain business case, the WLA is the perfect starting point for businesses working with more than one digital asset, or for more complex cases such as documentation, creating certificates, managing IP rights, tracking shipments, or micropayments. You can use the WLA to build entertainment apps, or even a full ecosystem of values, as well as interact with smart locks, or different Tokens such as a Revenue Share model. No matter what your case is, if a highly functional blockchain app is needed, the WLA will save you time and money.
What does a typical WLA project look like?
We recommend that our customers start with an Active Sandbox to explore all the features of the TEOS Platform and complete a fit-gap analysis. All common blockchain functions are served by the WLA out of the box, but your specific frontend, look and feel, or additional custom functions will have to be developed. If you already have a list of requirements, we can help you with the fit-gap analysis. The Active Sandbox also makes an ideal test environment for later stages of the project.
When you’re ready to build, you can either contract one of our software development partners to implement your project or start right away with your own team. Obtaining the WLA template for development by your own team requires an agreement on the intellectual property rights, as well as a development subscription.
To launch, you need a productive subscription to the TEOS API. Your app is published under your own account with Google/Apple. Plan enough time to get everything ready and for the app to be given approval by the respective app stores. This can take up to several weeks. Our experts can help you to avoid caveats in preparation for going live.
The WLA template is a powerful and consistently maintained code. We publish updates and new versions at regular intervals and make them available to you. The WLA is tested for the most popular operating system versions and devices. Your software development partner or your development team can just merge the newest template with your product and ensure continuous compatibility with minimal effort.
Benefits of using CoreLedger TEOS to build a blockchain app
Regulatory issues are simple, since the WLA is a non-custodial solution and you don’t have access to your users’ assets.
Easy to setup
The WLA comes with end-to-end blockchain integration, turning an otherwise complex project into a simple app development project. In most cases, you will only have to extend the template with custom functionality that doesn’t require any blockchain expertise.
The WLA comes with a set of modules, which can be combined and extended, such as a generic transaction handling, POS functionality, a centralized and decentralized market feature, a QR code scanner covering a multitude of codes and instructions, etc. This saves up to 80% in development cost of your own blockchain app.
The continuous updates with newest versions of the WLA reduce the testing effort during app maintenance by 30-80% (depending on the degree of custom extensions).
Our software development partners will help you with every aspect of your app’s development. You won’t even need your own development team. Our partners have longstanding experience with the TEOS platform and can help you go to market in a matter of months instead of years.
Modular & Extendable
Almost any blockchain use-case can be created by combining basic functions (four features). If needed, you can integrate a custom smart contract on the TEOS Suite, but in most cases this isn’t necessary, saving you upwards of $100,000 in smart contract development, security hardening, and audits.
The WLA template is tested on all popular operating system versions of Android and iOS and respective the most popular Android and iPhone models.