Build in public — 1

We earlier spoke about how we are thinking in terms of primitives of finance. This will help us and other developers iterate much faster to launch new financial products and use cases that were not possible before.

There was a lot of internal debate on what those primitives are and how we should go about building them and what constitutes a viable business model here. We then decided to take a step back with an approach that has always helped us and hope to create a framework around this —

This might not the right approach always but when we have very little information and there are multiple paths forward, our thinking is to go with an extreme focus on speed to market and then get more data points that will help us narrow down our way forward.

This path necessitates us to go with an absolute bare bones model of building the product. We have to be conscious of stripping down every feature set and present only the minimum core functionality that you want to be testing. Hence, defining what to test is the most important function here.

We knew what we wanted to demonstrate as a functionality using the primitives of finance approach to building infrastructure —

1. Unbundle the tech infrastructure from the financial connector
2. Create financial products at a pace that is 10x faster than before — reduce backend effort to launch a financial product
3. Get access to battle tested, secure and secure infrastructure right off the shelves and remove devOps/SRE workload
4. Iterate and build new financial use cases that are not possible without the infrastructure itself — empowering innovation in finance

Visualizing what we wanted to demonstrate, helped us understand the trade-offs to be taken. Deploying our previous approach of Build → Iterate on this use case vs time to market graph, it made sense for us to go from the bottom right to the top left in a sequential manner.

So, coming to the actual components that we are building —

→ We are building open-source libraries for the v1 (would rather call it v0.0001) of our primitives
→ The primitives itself are: Asset, Store, Transaction and Connector
→ We will push the 1st three primitives in Github by 25th November (feel free to hold us accountable to this timeline)
→ We will create the v1 of a financial product (payment aggregation) using the above primitives and launch it by 30th November using one connector

We are also documenting our action plan post this below.

We hope this helps you understand what we are building in concrete terms and if this sounds exciting, we would love for you to look at our library in Git when we publish it and share your feedback.