BlockPay Pitch May 2022 https://www.powtoon.com/c/e2GrRN6QAwj/2/m

trent@blocktec.us josh@blocktec.us https://www.blocktec.us/

1. Describe the problem you are solving or the business pain you are addressing?

Often, Companies believe the misconception that innovation requires countless time and money when all you need is Blocktec. While able to assist companies with a wide array of IT services, we are specialized in understanding and implementing new technologies (Blockchain, AI, etc.) associated with the ongoing Digital Asset Ecosystem Transformation. Specific to our product development, we are solving the problem of delays associated with banking transfers in Latin America. Only 36% of midsize enterprises in Latin America have implemented digital commerce initiatives, lagging behind the rest of the world in adopting digital business. Thus, our product Blockpay assists Latin America in transforming its digital asset ecosystem. While targeting US banks would be ideal, due to

The company size requirements (>$1M Assets) it is not on our current roadmap (1-2 years). Nonetheless, once we have reached phase 3 of Blockpay (discussed later in the application), we plan to target, develop, and implement Blockpay in other industries in the US, such as Supply Chain, Insurance, and Mortgage Payments.

2. What’s your company’s core product /service and unique technology innovation?

At Blocktec, we have two primary value propositions: 1) Training and Service Offerings and 2) Application Development/Exploration. Specific to this AWS accelerator, we would like to highlight our Application Development/Exploration offering at Blocktec and our unique technological innovation called Blockpay. Blockpay is a blockchain-enabled technology that allows for real-time transfers between banking customers. Through the use of AWS Managed Blockchain Service, we will change the way banks think about transfers. More importantly, we will empower the people of Latin America to send money in real-time to support their families in other countries. This will also enable the 26.5M small-medium sized entities in Latin America to increase overall business efficiency.

3. What is your unique competitive advantage?

Our unique competitive advantage is the relationships we have developed as a start-up in such a short period. For the better part of 2022, Blocktec’s Co-founder and CTO have been training groups of experienced IT developers on Blockchain technology in Costa Rica and Colombia. In doing so, both co-founders have learned much about the culture and developed personal and professional relationships. Part of that culture is providing for your family no matter the circumstance, even if that means moving to a new country and supporting your family through monthly ACH transfers. Thus, through our unique relationships, we have identified our product ideology and the people we want to build it with and for.

4. Why are you and your team uniquely qualified to solve this problem?

As mentioned, we have developed relationships that sparked us with the idea to build a payment solution that helps real people. Further, considering our subject matter expertise in Blockchain-enabled technology, we feel well suited to assist Central and South American banks in digitally transforming the way they conduct business. Additionally, while we may not be experts on Central and South American banking, we have found mentors advising us on the best path forwards. These are prior banking CTOs, Developers, and solution Founders who use their previous knowledge of the space to aid our decision-making. Finally, before the announcement of the AWS accelerator, we had identified that the AWS Managed Blockchain was the only private blockchain service we were interested in building on. Further, we believe we are also uniquely qualified to solve the problem of real-time payments by identifying that AWS Managed Blockchain was the only feasible technology available to do so.

5. What specific goals and milestones do you want to achieve by the end of the program?

The goals and milestones we would like to accomplish are as follows: Goal/Milestone: Continue to learn how to lead a business as a minority. As diverse co-founders, we already understand the value of being able to work and collaborate with other minority business owners. If given this opportunity, we would spend as much time networking and learning from the program mentors and other participants. Goal/Milestone: Further align with the strategic path of AWS in Blockchain. As mentioned, we believe the AWS Managed Blockchain is the only feasible technology for the kind of solution we want to build. With that being said, we want to learn more about where AWS believes the space is going to ensure we are ready for the next wave of innovation in the digital asset ecosystems.

Goal/Milestone: Have our ‘BlockPay’ solution fully functional and ready to approach our first bank. The capital would allow us to leverage through the guidance of the mentors and the additional resources. Our primary goal would be to continue improving our solution to the point where we could partner with a bank in Central/South America. Per our product roadmap, we are currently in the first phase of product development, where we have completed a POC. If awarded the grant, we would use the funds to push us through phase two of development, where our product would be ready for a pilot deployment for interbank payments. Once partnered with a bank, we would transition into phase three of action: to develop Blockpay to create intrabank payments.

6. Please describe your current tech stack or approach (e.g., which technologies do you use, languages, etc.) alongside a high-level overview of your architecture, if available:

Our development stack approach utilizes the necessary technologies to make our product possible. The AWS Managed Blockchain uses Solidity for smart contract development and ensures tokenized dollar generation and accuracy. While utilizing the Blockchain for instantaneous transfers and receivables, the use of MongoDB is helping our application achieve high availability, horizontal scaling, and geographic distribution. The mapping objects help conversion in our application code, making data easy to work with as our software application continues to scale with larger clients. Additionally, we are utilizing the following technologies/languages as well: • React.js • API Gateway • Aurora / DynamoDB • Lambda • AWS Managed Blockchain (Private Ethereum Node) • Elastic Contain Services

7. Is there anything else you’d like to share?

As mentioned earlier in the application, while Blockpay is our primary focus at Blocktec, we also have a training and service offering. We can teach to a wide array of audiences for the training component, from developers to executive/C-Suite. Since January 2022, we have trained 20 developers to be proficient in Blockchain and plan to introduce another 20 by the end of the year.
Outside of traditional Blockchain consulting, we have constructed our own Smart Contract Audit Security Methodology as part of our service offering. In doing so, we can provide an end-to-end audit of your smart contracts, testing for compliance and identifying any potential threats. Our value proposition is to identify security threats and give remediations to minimize the risk of attacks that could negatively impact their financials and, even worse, their reputation.
We are incredibly honored to apply for this program and look forward to hearing back!