Hype around blockchain has been huge. Many believe the immutable and unalterable nature of blockchain technology, which underpins cryptocurrencies like bitcoin, makes it ideally suited for business practice. And along with it, smart contracts, the computer code running on top of a blockchain containing a set of rules to enforce the agreement automatically, are of intense interest to businesses.
A Hong Kong startup has launched DINO, a cloud-based platform that allows users with zero programming knowledge to build smart contracts by form filling or templates, while professional users can use its “drag-and-drop” interface and configurations to create and deploy smart contracts on blockchain networks.
With DINO’s graphical user interface, tailor-made smart contracts can be built in just a few hours with simple drag and drop actions, the company claims.
In an interview with the Hong Kong Economic Journal, DINO’s founder Tim Wong explained the process. After successfully registering on the DINO platform, users have to buy “smart contract templates” from the Contract Market on the platform, which contains templates for various business purposes like rental agreement and vehicle lease, and then fill in the specific terms and details.
The platform visualizes the complex codings and logic flow of the smart contract, and generates the code of it. Users can also choose which blockchain network to deploy, such as Ethereum and Qtum. And the unique smart contract will be produced on the blockchain network.
Wong told HKEJ that the startup has also launched a token sale for its crypto unit, named DINO in short, a functional utility token which can be used to pay the DINO platform service fee, as well as for purchases of smart contract templates on the DINO platform.
A total of 200 million DINO will be launched, of which 90 million tokens, or 45 percent, will be available for public sale. Wong said the startup aims to raise around US$37.7 million with the token sale.
The full article appeared in the Hong Kong Economic Journal on June 5
Translation by Ben Ng with additional reporting
[Chinese version 中文版]
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