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are knowledgeable in various technologies.
Lowering Financial Inclusion Barriers With a Blockchain-Based Capital Transfer System
ABSTRACT:Transferring money and gaining access to credit across international borders is still complicated, time consuming and expensive. Existing money transfer systems suffer furthermore from long lines, exchange rate losses, counter-party risks, bureaucracy and extensive paperwork. An estimated two billion adults are unbanked and with no, or limited access to financial services. Providing workable financial services to this population is often tagged as a key step towards eliminating world poverty and bootstrapping local economies. Everex focuses on easing the financial inclusion problem by applying blockchain technology for cross-border remittance, online payment, currency exchange and micro lending, without the volatility issues of existing, non-stablecoin cryptocurrencies. This whitepaper fills the gap in the state of the art by presenting a blockchain-based capital transfer system that aims to lower financial inclusion barriers and provide financial services to the unbanked. We present the advantages of the system, outline the requirements and goals, as well as the architecture of the Everex financial eco-system. In addition, we present the results of an Everex remittance system case study that involves over 100 migrant workers from Myanmar.
Smart-Contract Value-Transfer Protocols on a Distributed Mobile Application Platform
ABSTRACT:Blockchain-enabled smart contracts that employ proof-of-stake validation for transactions, promise significant performance advantages compared to proof-of-work solutions. For broad industry adoption, other important requirements must be met in addition. For example, stable backwards-compatible smart-contract systems must automate cross-organizational information-logistics orchestration with lite mobile wallets that support simple payment verification (SPV) techniques. The currently leading smart-contract solution Ethereum, uses computationally expensive proof-of-work validation, is expected to hard-fork multiple times in the future and requires downloading the entire blockchain. Consequently, Ethereum smart contracts have limited utility and lack formal semantics, which is a security issue. This whitepaper fills the gap in the state of the art by presenting the Qtum smart-contract framework that aims for sociotechnical application suitability, the adoption of formal semantics language expressiveness, and the provision of smart-contract template libraries for rapid best-practice industry deployment. We discuss the Qtum utility advantages compared to the Ethereum alternative and present Qtum smart-contract future development plans for industry cases applications.
A Data-Ownership Assuring Blockchain Wallet For Privacy-Protected Data Exchange
ABSTRACT:As people engage more deeply and often with Internet services like social media, search, and e-retail, they create ever more data. Well known social-media companies and a secretive data-brokerage industry monetize this personal data without explicitly consulting—or sharing the revenues with—the users who produced the content. Such is the dominant personal-data ecosystem. There is clear need for a transparent and fair data exchange based upon the expressive consent of the Internet users producing the data. This whitepaper specifies such a system built upon a user-controlled ”DataWallet” and a blockchain-based smart contract system to allow transparent and mutually beneficial exchange of data between consenting parties. We detail the requirements of such a system, its necessary structure, and the dynamic interactions of its components and stakeholders through an example focusing on a simple exchange of data for DXT (the data exchange token). We show how such an exchange is just one of many use cases for the proposed data exchange by describing how it can provide an augmented user experience for online video and music services as well as provide valuable insights to data creators about themselves.
Self-Aware Agent-Supported Contract Management on Blockchains for Legal Accountability
ABSTRACT:This whitepaper addresses existing problems with conventional non-machine readable contracts. Such conventional contracts (CC) are complicated to set up, disconnected from ICT-systems and when conflicts occur, tracking their execution is restrictively slow and in addition, CCs are challenging to enforce. On the other hand, so called self-aware contracts (SAC) that are similar to CCs with respect to legal enforceability, are machine readable and supportable by blockchain-technology. SACs do not require qualitative trust between contracting parties because blockchains establish instead a quantitative notion of trust as SAC-related events are immutably stored. However, currently existing machine-readable contract solutions, i.e., smart contracts, lack suitable obligation constructs for execution and enforcement. Additionally, current systems do not comprehend the dynamics of legal relationships. It is important to mask legal obligations with daily human conduct. This whitepaper address the gap by specifying a so-called Agrello-framework that enables blockchain-driven self-aware agents-assisted contracts for a decentralized peer-to-peer (P2P) economy.