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

Lowering Financial Inclusion Barriers With a Blockchain-Based Capital Transfer System Faculty of Information Technology TalTech University Assoc.Prof. Alex Norta, Ph.D. Blockchain.taltech.ee alex.norta.phd@ieee.org LSS Large-Scale Systems


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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

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LSS

Large-Scale Systems Group

Tallinn University of Technology

Paper Authors

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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
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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?
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LSS

Large-Scale Systems Group

Tallinn University of Technology

Preliminaries

  • Overview of the Everex Cryptocash ecosystem
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LSS

Large-Scale Systems Group

Tallinn University of Technology

Preliminaries

  • Microlending either to individuals or SMEs
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LSS

Large-Scale Systems Group

Tallinn University of Technology

Functional/quality goals, stakeholders

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LSS

Large-Scale Systems Group

Tallinn University of Technology

Functional/quality goals, stakeholders

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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
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LSS

Large-Scale Systems Group

Tallinn University of Technology

Capital transfer system Architecture: top level

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LSS

Large-Scale Systems Group

Tallinn University of Technology

Capital transfer system Architecture: refinement

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LSS

Large-Scale Systems Group

Tallinn University of Technology

Capital transfer system Architecture: refinement

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LSS

Large-Scale Systems Group

Tallinn University of Technology

Engagement processes

  • Micro-lending process
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LSS

Large-Scale Systems Group

Tallinn University of Technology

Engagement processes

  • Micro-lending contract negotiation
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LSS

Large-Scale Systems Group

Tallinn University of Technology

Engagement processes

  • Micro-lending contract negotiation refinement
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LSS

Large-Scale Systems Group

Tallinn University of Technology

Evaluation: Everex.io

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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
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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
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LSS

Large-Scale Systems Group

Tallinn University of Technology

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