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 Group Tallinn University of Technology
LSS Paper Authors Large-Scale Systems Group Tallinn University of Technology
LSS Agenda Large-Scale Systems Group • Introduction Tallinn University of Technology • 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 Introduction Large-Scale Systems Group Tallinn University of Technology • 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 Preliminaries Large-Scale Systems Group • Overview of the Everex Cryptocash ecosystem Tallinn University of Technology
LSS Preliminaries Large-Scale Systems Group • Microlending either to individuals or SMEs Tallinn University of Technology
LSS Functional/quality goals , stakeholders Large-Scale Systems Group Tallinn University of Technology
LSS Functional/quality goals , stakeholders Large-Scale Systems Group Tallinn University of Technology
LSS Capital transfer system architecture Large-Scale Systems Group Tallinn University of Technology • 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 Capital transfer system Architecture: top level Large-Scale Systems Group Tallinn University of Technology
LSS Capital transfer system Architecture: refinement Large-Scale Systems Group Tallinn University of Technology
LSS Capital transfer system Architecture: refinement Large-Scale Systems Group Tallinn University of Technology
LSS Engagement processes Large-Scale Systems Group • Micro-lending process Tallinn University of Technology
LSS Engagement processes Large-Scale Systems Group • Micro-lending contract negotiation Tallinn University of Technology
LSS Engagement processes Large-Scale Systems Group • Micro-lending contract negotiation refinement Tallinn University of Technology
LSS Evaluation: Everex.io Large-Scale Systems Group Tallinn University of Technology
LSS Conclusion Large-Scale Systems Group • Everex.io as a blockchain system Tallinn University of Technology • 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 Conclusion Large-Scale Systems Group • Development of blockchain-technology stack Tallinn University of Technology • 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?
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