Cygnet recommended an online marketplace for advertisers and podcasters on state-of-the-art blockchain technology. Blockchain and Smart Contracts specifically for futuristic marketplace where the supply & demand sides can engage in trusted trading transactions based on business rules in a decentralized manner.
2. Our client is the world’s largest podcast network, pioneering the system to host and publish
podcasts in 2004, and since then has grown to be the largest leading podcast network.
Client Profile
During the discovery phase, Cygnet’s team
collaborated with the client’s team for
learning and sharing of information and
ideas while identifying the requirements
of the platform and client deliverables.
After the initial discovery and solution-
feasibility study, experts at Cygnet
recommended an online marketplace for
advertisers and podcasters built on
state-of-the-art blockchain technology.
Cygnet’s Blockchain development team used
agile development approach to swiftly
develop the digital marketplace backed by
rigorous progressive testing. The solution is
fostered with the highest level of security
through encryption providing limited
accessibility and complete transparency.
The system has a front-end consumer-friendly
user experience for advertisers, podcasters
and network administrators.
The marketplace is pillared on a strong
back-end technology from where the shared
data can be used by each stakeholder to
view contracts, review and accept changes
and more – all of which is captured on the
blockchain ledger.
The successful implementation of Blockchain
and Smart Contracts backed by Cygnet’s
dependable team, facilitated both sides -
the supply and the demand, to engage in
reliable and transparent trading transactions
based on ethical business rules in a
decentralized manner.
The blockchain-based system generates
notifications and alerts for all podcasters and
advertisers. In addition, it maintains a shared
ledger for all the activities performed.
Cygnet Solution
Years+ Serving the
Podcast Community
Million+ Monthly
Audience Members
Thousand+
Podcasts Hosted
Billion Podcast
Downloads in 2016
Business Challenges
120 days
payment cycle
& transaction
cost
Offline
facilitation of
podcasters &
advertisers
No value
addition to
podcasters
& advertisers
Knowledge
management
on excel sheets
Insignificant
Podcast
analytics
3. This breakthrough digital marketplace
aligns with the following business goals:
System Architecture
• Registration of podcasters, advertisers, ad-agencies
& network administrators
• Podcasts announcements & agreements through
Smart Contracts
• Campaign management through Smart Contracts
• Wallet management
• Commission & payments management through
Smart Contracts
• Recommendations based on Natural Language
Processing
AI TO PROVIDE
BUSINESS INSIGHTS
AD AGENCIESAD AGENCIES
Availability matching
Insights to Ad Agencies
PODCASTERSPODCASTERS
Suggestions to podcasters on
genres, content, rate and timeslots
NETWORK ADMINNETWORK ADMIN
Suggestion to participate in
campaigns
Suggestions about star podcasters
and rates
Server Service
MONITORING
Server Service Campaign
HEALTH KPI
Audit
Trail
Compliance &
Grievance
ACTIVITY
System SMS Email
NOTIFICATION
Manual Automated
REPORTING
Podcast Platform
INTEGRATION SERVICES
MARKETPLACE
BIDDING ENGINE
Podcast Campaign Word PDF Insertion
Order
ENGINE
THIRD PARTY INTEGRATION
Payments 2-Factor
Authentication
Smart
Contracts
Smart
Tokens
Smart
Wallet
BLOCKCHAIN
User
Dashboard
User
Management
Registration Roles &
Permissions
MEMBERSHIP
r e g i s t e r
S U B M I T
DATABASE
Data WarehouseOLTP Database
DATABASE
Podcast
PRIVATE BLOCKCHAIN WITH
DISTRIBUTED LEDGER
4. Business Benefits
Benefits for End Clients
TOOLS TECHNOLOGY AND METHODOLOGY
Technology
Dev Framework
& Environment
Application
Design
Database Environment
& Methodology
Ethereum
Node.js
Angular
HTML 5
MySQL
Jira
Bitbucket
Agile
Angular JS - Frontend
Node.js - Backend
Visual Studio Code
Micro Services
Architecture
Our client company is now
able to attract and promote
more podcasters.
The marketplace enabled
smart work and helped to
boost productivity.
PROMOTION
Streamlined business process
has revolutionized the way
contracts are processed.
Decentralization and smart
contracts reduced the existing
120 days payment cycle to
45 days.
OPPORTUNITIES
Smart Contracts eliminated
paperwork and excel sheets.
Data integrity has improved
simplifying maintenance.
SMART CONTRACTS
Minimum steps to sell the
advertisement timeslots.
Dependency eliminated,
improving resilience,
flexibility, performance and
scalability.
EASY-TO-USE
Marketplace is empowering
to locate relevant advertisers
based on the podcast
category, thus eliminating junk.
RELEVANT
Maximum information access
and availability of key data
assets is inspiring informed
decision making.
STATISTICS