Please introduce your company and give a brief about your role within the organization.
Pragmatic DLT is a global leader in consultancy and R&D focused on blockchain and crypto technology. We have delivered over 30+ high complexity projects spanning across industries and geographies, including the US, Canada, Germany, Singapore, and China. Beyond standard CEO responsibilities, my primary goal is to transform the complexities of blockchain technology into understandable concepts that help to advance real-world business decisions.
What is the story behind starting this company?
Pragmatic DLT was started in 2018 by a group of partners and friends that had a background in finance, M&A, accounting, software delivery, software architecture, and engineering. The idea brewed for a year and finally, after seeing how controversial and out of touch the business establishment was at the time with blockchain technology, we decided that we can contribute and shed some light on crypto.
What are your company’s business model–in house team or third party vendors/ outsourcing?
Right from the start, we had our core team in-house. Our business model stems from our core values, specifically we prefer much closer alignment with the customer goals. As a result, we always work in relatively small teams of senior developers, whom we call SWAT teams. This is just to give it a bit of an edge, not a typical day in the office when you are on a mission with a SWAT team!
How does your company differentiate itself from the competition?
Perhaps our core differentiator is our focus on blockchain technology. In addition, we do work across many different industries and have accumulated a huge knowledge base of what blockchain application will be the most relevant to this particular business. This allows clients to save big and get to the desired outcome much faster.
What industries do you generally cater to? Are your customers repetitive? If yes, what ratio of clients has been repetitive to you?
So far we have seen tremendous growth in traditional finance and lately starting from 2020 DeFi. However, supply chain and legal applications are a close #2.
Please share some of the services that you offer for which clients approach you the most for?
Our delivery model is uniquely structured to facilitate rapid prototyping and deployment.
- Solution Discovery Session to design product and scope of work.
- Proof-of-concept to quickly develop a demo for key stakeholders and verify blockchain and conventional architecture decisions.
- MVP development and launch timeboxed to two months.
Recently, we have also proposed a flexible staff loan model for more mature projects.
What is your customer satisfaction rate according to you? What steps do you take to cater to your customer’s needs and requirements?
I suppose our ratings on GoodFirms tell it all. Don’t trust, verify as Satoshi Nakamoto says :)
Perhaps, this recognition is our ability to make complex technology simple by helping our clients to understand not how ERC20 token works, but how it can be used in their business, like improving supply chain tracking or speed up loan agreement review.
What kind of support system do you offer to your clients for catering to their queries and issues?
Pragmatic DLT has offices in Toronto, Canada, and Kyiv, Ukraine. This allows us to offer an almost 12h a day window to customers from Europe and North America to be in direct communication with us.
What kind of payment structure do you follow to bill your clients? Is it Pay per Feature, Fixed Cost, Pay per Milestone (could be in phases, months, versions etc.)
Predominantly our projects are broken down into two-week sprints and we are committed to taking full responsibility for the product. Our fees are directly linked to the scope of work and deadlines.
Do you take in projects which meet your basic budget requirement? If yes, what is the minimum requirement? If no, on what minimum budget you have worked for?
We are very liberal with respect to minimum budgets. Although I won’t be able to comment on a specific amount, I’d like to point out that for us several factors, such as novelty and impact plays a huge role. For example, I’m personally very much interested in projects that have a direct impact on improving governance and focus on climate change issues. I think there is an enormous potential for blockchain in government tech and we will be very happy to work on a project like that, however small.
What is the price range (min and max) of the projects that you catered to in 2020?
Our largest engagement in 2020 was slightly in the north of US$200k. The average project lasts for 2 months and can be starting at $15-20k.
Where do you see your company in the next 10 years?
Perhaps, it is expected that CEO should have a long-term vision. However, we come from an extremely dynamic industry, anything can happen within a year. Bitcoin whitepaper or COVID-19 is a good example of that. My personal goal is to maintain Pragmatic DLT leadership in the tech race and become the go-to firm for all things crypto and blockchain.