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When VinumVersa approached Formulate Digital with an innovative idea that will take the fine wine trading world by storm, we jumped at the chance to get involved.
The brief was to build a bespoke application that solved the challenges fine wine enthusiasts face when buying or selling wine within the secondary market.
Users can follow their favourite wines and sign up to live "matching sessions" where they can buy, sell or switch wines with other like-minded people.
To ensure maximum results, the Formulate team used multiple tools to build the VinumVersa trading app.
The VinumVersa wine trading application:
There was the requirement to create a mobile application for both Apple and Android devices, so React Native was the obvious choice. It provides the tools for our developers to build a responsive trading platform that offers flexibility, cutting-edge design and the ability to update both platforms simultaneously.
On the app dashboard, a calendar lists the 'matching sessions' planned for the next 30 days and users can follow the events that take their interest. By following these events, users will receive notifications reminding them that an event is due to go live, and they'll be able to buy, sell or switch the specific wines listed.
The admin system and server:
Both the admin system and the server use a Ruby on Rails framework, which is one of our favourite tools to use! Rails allows quick, agile development and can absorb changes quickly, which is precisely what the ever-evolving VinumVersa needs.
The active admin system allows quick and easy access to the 'behind the scenes' functions of the VinumVersa app. Here user-profiles and 'matching sessions' can be fully managed, and there is complete control over the wine database; it currently holds 78,000 wines!
An integral part of the VinumVersa infrastructure is the server, which is utilised by the admin system, the trading application and MangoPay. Once a 'matching session' is over, the server generates a report and runs a bespoke algorithm to ensure orders are complete, and successful users can pay for their order.
The algorithm:
For the VinumVersa concept to work efficiently, the application is required to pair buy, sell or switch interests. Our developers coded a solution that will evaluate the data at the end of each 'matching session' and run a final report.
The algorithm will match sellers to buyers, and those looking to switch wines with each other, ensuring a fair and even distribution across all the users.
Once the evaluation process is complete, users are notified of their success and asked to make payments where necessary.
Taking Payments:
A crucial part of a successful trading app is the safe and smooth transaction of money.
We chose to use the external system MangoPay because when there are high-value transactions at stake, only a leading payment platform will do. MangoPay offers secure, reliable payments and the all-important KYC check for new users to ensure there's no fraudulent activity.
It won't be long until VinumVersa launches, and we cannot wait to see the fruits of our labour. I know we'll be popping open a bottle of something sparkling to celebrate!
If you have a project that you need some support with, no matter how big or small, don't hesitate to get in touch to find out how our team can help you to formulate your future.