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Regulation conform DLT-operable payment adapter based on trustless - justified trust combined generalized state channels by Lamberty, Ricky; Poddey, Alexander is a scholarly article available to read on EtoBox.

What is Regulation conform DLT-operable payment adapter based on trustless - justified trust combined generalized state channels about?

Open technologies, decentralized computation and intelligent applications enable the third-generation web, Web 3.0, thereby digitizing whole industries. The emerging Economy of Things (EoT) will be based on software agents running on peer-to-peer trustless networks that require a programmable, regulation conform means of payment. We give an overview of current solutions that differ in their fundamental values and technological possibilities, like e.g. private-issued stablecoins, DLT-issued electronic money and genuine cryptocurrencies. Based on this analysis, we present the concept of justified trust and propose to combine the strengths of the crypto based, decentralized trustless elements with established and well regulated means of payment, based on this concept, via a secure external re-balancing interface. Combining the advantages, e.g. lightweight, trustless, efficient high frequency micro state transfers on the one hand, and ease of use, widely spread, accepted alignment to a multitude of regulative requirements, on the other hand, while neither leading into a lock-in in any of the proposed solutions, nor undermining the basic principles of the crypto-movement or unnecessaril

Author

Lamberty, Ricky; Poddey, Alexander

Published

2020

Language

EN