Programmable Money
Proxy Network
- All the transactions with the Network are Anonymous
- All the transactions are digitally signed
- All the transactions have Audit
- Transactions are always using Proxy(Anonymous) accounts which are linked to Original Accounts
- Any Bank Account with Good API support can be used in Proxy Network using Proxy Accounts
- If a Bank Account doesn't have API exposed, money flows into Proxy Network using Payment Gateway and flows out using Proxy Network using Proxy Wallets
Proxy Accounts
ICICI Bank Account
123456
of Mr.A
Proxy Account
ABC-XYZ
not linked to Mr.A
Linked with Secret Key.
Who ever Own key, Own the Account
Signed by ICICI
Proxy Wallets
Proxy Wallet
DEF-UVW
not linked to Anyone
Linked with Secret Key.
Who ever Own key, Own the Wallet
Wallets are short lived.
1. Load Money
2. Use for Payment
3. Drop the Wallet
We never maintain the Money
Signed by Platform
1. Account is Valid as it is signed by ICICI / Platform
2. Payment has to be signed by Key metioned in Account
Signed by Platform
3. When ICICI receives the payment, it would validate a) Payment, b) Account... then only make payment from Representative Account
Anonymous Payment
Forex Transaction (1)
INR Account/Wallet
Balance: 80k INR
EUR Account/Wallet
Balance: 0 EUR
Green Want to Convert 80k INR to EUR
Forex Transaction (2)
EUR Account/Wallet
Balance: 1k EUR
INR Account/Wallet
Balance: 0 INR
Red Want to Convert 1k EUR to INR
Forex Transaction (3)
1. Platform mathces these 2 transactions
2. Creates FX Transaction consisting of 4 accounts
3. Green Signs the Complete Transaction
4. Red Signs the Complete Transaction
Forex Transaction (4)
5. Platform creates 2 exchanges
- Between 2 INR Accounts
- Between 2 EUR Accounts
Effect: Green and Red don't know the other person or their account details as all the accounts are Proxy Accounts.
Where are we with Development??
Done
1. Loading/Withdrawing Money
2. Anonymous Payments
Busy With
1. Forex Transactions
deck
By Chenna Reddy
