1.
Software and Licensing Costs
Hyperledger Fabric Framework:
Hyperledger Fabric itself is open-source and does not require a licensing fee.
However, if any specialized middleware or integrations are needed, third-party
software may incur additional costs.
2. Cloud Infrastructure and Hosting
Infrastructure Providers (e.g., IBM Cloud, AWS, Azure):
Details: This includes virtual servers, storage, and network bandwidth.IBM
Cloud, AWS, Azure are some examples foe that .Cost varies based on the
expected transaction volume, data storage requirements, usage and data transfer
needs.
3. Development and Implementation
Blockchain Development Team:
Development team need blockchain developers, DevOps engineers, and possibly
a project manager. For a robust team, budgeting for 4-6 months of development is
typical. Rates can vary based on experience and the location.
4. Security and Compliance
Auditing and Compliance Services:
Covers the cost of compliance checks, security audits, and regulatory
assessments to ensure that the solution meets financial industry standards.
Cybersecurity Tools:
Investment in security tools to safeguard against cyber threats, such as firewalls,
intrusion detection systems, and encryption software for data protection.
5. Testing and Quality Assurance (QA)
This may include performance testing for scalability and stress testing to ensure resilience under
heavy loads.
6. Training and Change Management
Training Programs for Bank Staff and Customers:
Training sessions and materials for bank employees to learn how to operate the
new blockchain system. User-friendly guides and workshops may be included to
help customers understand how to interact with the blockchain-based banking
platform.
7. Ongoing Maintenance and Support
Technical Support and Maintenance:
Regular maintenance to keep the system up-to-date, patch security
vulnerabilities, and provide support for any issues that arise post-launch.
Total Estimated Budget: $143,000 - $303,000
