Research
PicPay
PicPay, a dynamic FinTech company based in Brazil, is on a mission to redefine financial transactions while expanding its horizons as a digital bank.
Client
PicPay
Year
2024
Duration
6 Months
Technology Stack
Deliverables
Stablecoin Design
Architecture Design
Documentation
Repositories
Introduction
AxLabs, together with the PicPay team, meticulously delineated the project scope, defined use cases, assessed technical viability, and drafted an architecture and a potential product roadmap. The collaborative efforts culminated in deliverables like the BRC Whitepaper and a pitch deck presentation, setting a solid foundation for the innovative stablecoin venture.
Challenges
Defining the scope among several options: Navigating the myriad of considerations between fiat-backed versus asset-backed models to determine the most viable approach for BRC.
Evaluating technical feasibility: Assessing the technical intricacies and potential hurdles in integrating a stablecoin within PicPay's existing ecosystem was a challenging task.
Risk assessment: Identifying and evaluating the risks associated with the execution phase to ensure a well-prepared roadmap.
Centralized versus decentralized: The team faced challenges in architecting the initial version of BRC to launch as a centralized solution, under the sole authority of PicPay, while ensuring a seamless transition pathway to a decentralized framework over time.
Business Impact
Whitepaper impact: The whitepaper, born out of collaborative efforts between AxLabs and PicPay, served as a pivotal document that not only outlined the technical and operational framework of the stablecoin but also significantly bolstered stakeholder confidence and understanding regarding the project's potential and long-term viability.
Strategic roadmap: AxLabs' expertise facilitated a well-structured roadmap that gave decision-makers of the PicPay team a clear path to realize its stablecoin vision.
Education: AxLabs provided essential training and education to the PicPay team on the technical aspects of blockchain and the key components required for the development of a stablecoin.
Holistic technical perspective: AxLabs delivered a holistic technical view, guiding the PicPay team on the long-term trajectory of this stablecoin project (e.g., dependencies, building blocks of the project, technical risks, etc).
