LSS Large-Scale Systems Group Tallinn University of Technology LSS - - PowerPoint PPT Presentation

LSS

Large-Scale Systems Group

Tallinn University of Technology

Lowering Financial Inclusion Barriers With a Blockchain-Based Capital Transfer System

Faculty of Information Technology TalTech University

Assoc.Prof. Alex Norta, Ph.D. alex.norta.phd@ieee.org

Blockchain.taltech.ee

LSS

Large-Scale Systems Group

Tallinn University of Technology

Paper Authors

LSS

Large-Scale Systems Group

Tallinn University of Technology

Agenda

• Introduction
• Banking the unbanked -> Everex.io
• Gap detection
• Research questions
• Preliminaries
• Running case
• Functional/quality goals, stakeholders
• Capital transfer system architecture
• System-engagement processes
• Conclusion

LSS

Large-Scale Systems Group

Tallinn University of Technology

Introduction

• Billions, specifically Asians, are un/under-

banked, travelers lose with FIAT exchange

• Everex.io: eFiat for financial inclusion
• eFiat is pegged to fiat, e.g., USD as eUSD
• Stablecoins pegged to FIAT
• Research questions:
• How to enable money transfer with easy capital

access at virtually no costs without being limited to a domestic market?

• What are the goals and requirements of such a system?
• What is the architecture of a blockchain-based financial eco-

system?

• What are the system-engagement processes for the stakeholders?

LSS

Large-Scale Systems Group

Tallinn University of Technology

Preliminaries

• Overview of the Everex Cryptocash ecosystem

LSS

Large-Scale Systems Group

Tallinn University of Technology

Preliminaries

• Microlending either to individuals or SMEs

LSS

Large-Scale Systems Group

Tallinn University of Technology

Functional/quality goals, stakeholders

LSS

Large-Scale Systems Group

Tallinn University of Technology

Functional/quality goals, stakeholders

LSS

Large-Scale Systems Group

Tallinn University of Technology

Capital transfer system architecture

• Mapping heuristics from goal models to the

UML component architecture model

• Functional goals are components
• Refined functional goals -> embedded components
• Quality goals -> architecture styles and patterns
• Styles affect entire architecture
• Patterns affect architecture parts
• Roles are actors
• GUI & API indication
• Add providing/receiving interfaces
• Component coloration for indicating:
• tokenization/road map

LSS

Large-Scale Systems Group

Tallinn University of Technology

Capital transfer system Architecture: top level

LSS

Large-Scale Systems Group

Tallinn University of Technology

Capital transfer system Architecture: refinement

LSS

Large-Scale Systems Group

Tallinn University of Technology

Capital transfer system Architecture: refinement

LSS

Large-Scale Systems Group

Tallinn University of Technology

Engagement processes

• Micro-lending process

LSS

Large-Scale Systems Group

Tallinn University of Technology

Engagement processes

• Micro-lending contract negotiation

LSS

Large-Scale Systems Group

Tallinn University of Technology

Engagement processes

• Micro-lending contract negotiation refinement

LSS

Large-Scale Systems Group

Tallinn University of Technology

Evaluation: Everex.io

LSS

Large-Scale Systems Group

Tallinn University of Technology

Conclusion

• Everex.io as a blockchain system
• Banking the unbanked, remittance payments
• Tourists save FIAT-exchange losses
• Renders obsolete existing capital-transfer systems
• Cryptocash: each unit pegged to FIAT
• Eliminate crypto volatility
• Blockchains and smart contracts
• Payment, remittance, currency exchange, micro lending
• We present for Everex:
• Goal models: functional/quality goals, roles
• Derived component diagrams
• Derived BPMN engagement processes

LSS

Large-Scale Systems Group

Tallinn University of Technology

Conclusion

• Development of blockchain-technology stack
• Smart-contract/blockchain implementation

available on Everex.io

• Future work: token structure/economics (new)
• Islamic-banking adoption (Asian market)
• Stable-coin research

LSS

Large-Scale Systems Group

Tallinn University of Technology

Thank you very much for your attention! Q & A?