Digital payments
We are developing a solution for recording and viewing financial transactions.
The technologies we are developing to exchange our djis (Ɉ) can also be applied to any other currency.
They could therefore be also used to exchange legal tender currencies (€, $, ¥, etc.) or digital assets (bitcoins, etc.) .
These technologies offer enormous advantages:
as efficient as Visa or MasterCard payment systems,
as decentralized as digital assets such as bitcoin,
much less expensive (energy, data, maintenance, etc.) than any of the solutions currently in use,
support for network latency or disconnections.
The only “disadvantage”, which it shares with all networked solutions (Visa, MasterCard, blockchain, etc.), is that network exchanges are traceable. So you shouldn’t use these technologies if you want to launder money around the world. (Sorry!)
However, to facilitate local use and allow for a degree of anonymity, our solution allows tokens to be transferred from the digital system to the real world, and vice versa. This is possible through temporary paper vouchers, which you can issue and redeem yourself:
- Creation of the voucher from tokens in the digital system.
- Printing the voucher and its secret information.
- Concealing the secret information in the voucher (sticking it in the black area).
- Customize the voucher in a way that is difficult to forge (e.g., by scribbling on a soft surface with a ballpoint pen).
- Register the customized voucher in the digital system (send photo).
- Circulate the voucher. Authenticity can be verified at any time via the digital system.
- Partial destruction of the voucher (to access the secret information).
- Registration of tokens in the digital system (using the secret information and sending photo of the destruction).
In the knowledge that the tokens of all registered vouchers will automatically revert to the issuer of the voucher if the tokens are not re-registered before the expiry date.
In this process, the person who could most easily produce counterfeit vouchers is the voucher issuer. Therefore, the issuer is responsible for the quality of the voucher and has every interest in ensuring that it is difficult to counterfeit. (To avoid penalties, see Status - Article 8.)