SOFFI

Call name

Call for submission of project proposals "Non-reimbursable grants for newly founded companies" NPOO.C1.1.2.R2-I3.02

Project name

Development of innovative services to determine the profitability of providing blockchain network support and digital currency benchmarks, with the aim of connecting and empowering the FinTech market - SOFFI

Applicant's name

ReCrypt d.o.o.
Kapucinska 31
31000 Osijek

Brief project description

This project plans to continue the development of two innovative services under the common name SOFFI (Simplified Overview For FinTech Initiatives) up to the level of TRL 8.

The AutoApp 1.0 software, developed according to the applicant's innovative methodology, serves as the base platform for the development of the Profitability and Exchange services. The development of the aforementioned services enables the collection of data needed to calculate the blockchain network confirmation profitability every hour for the whole day in UTC (universal time coordinated) time, and the 15-minute exchange rate of digital currencies from multiple verified sources.

Project goals

The goal of the project is the development of two new, innovative services, under the common name SOFFI, based on the applicant's knowledge and experience in the field of blockchain technology and FinTech, up to TRL 8 level, for the purpose of early commercialization.

Profitability service - The goal of this service is to calculate the real profitability of each individual source using the same parameters and aggravating factors. The obtained profitability values ​​are averaged in order to obtain the mean value of the blockchain network confirmation profitability, which can be considered as a reference value for active FinTech market participants.

Exchange service - The goal of this service is to calculate the mean value for the objective presentation of the true value of digital assets, expressed in standard currencies in granulation up to a 15-minute reading, and to make it accessible in a simple and transparent manner to all interested users, without the need for prior knowledge of blockchain network and digital assets.

Expected results

Developed AutoApp 1.0. Software, with two innovative services Profitability and Exchange to TRL 8, ready for market. Prepared plan for future commercialization that would lead to an increase in income.

Total project value

177.382,50 EUR

Amount co-financed from EU funds

91.751,75 EUR

Project implementation period

25.09.2023 - 25.12.2024

For more information on the European Structural and Investment Funds, visit

https://strukturnifondovi.hr/
https://hamagbicro.hr/
https://fondovieu.gov.hr/