FACILITATING SECURE, TRANSPARENT BUSINESS PAYMENTS ON A GLOBAL SCALE
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Ivy is a blockchain-based technology for FIAT & cryptocurrency business transactions which require extensive verification in the international monetary system. The Ivy network utilizes Ivy (IVY) tokens which carry KYC & KYT data points critical for Financial Institution validation.
Advantages of Ivy Network over traditional payment networks
More Know Your Customer (KYC) Data
Ivy is designed to collect more transaction specific information than traditional payment networks, to enable it to be easily accessible to financial institutions
0KYC Data Points
More Know Your Transaction (KYT) Data
It is anticipated that Ivy will also allow for more than 120 KYT data fields to be sent with transactions
0+KYT Data Points
|TYPE OF TRANSACTION||DATA POINTS|
|Core Transaction Information||74|
|Additional Party Information||13|
|Export Control Nexus||7|
|TYPE OF TRANSACTION||DATA POINTS|
|Certificate of Inspection||3|
|Statement of Account||7|
Advantages of Ivy Network over Ripple and other cryptocurrencies
Our platform has planned architectural improvements compared to Ripple, our closest peer and the global leading Altcoin.
HOW IT WORKS
Sender notifies Recipient of intention to pay BTC to Recipient via IVYA and Ivy Network.
Sender and Recipient visit ivyKoin. com to establish account, providing KYC data.
Sender provides requisite KYT data.
including type of transaction and documentation required by the bank and the regulatory jurisdiction of the Recipient.
Sender exchanges BTC plus any required fees for equivalent IVYA at ivyKoin.com.
Sender locks in IVYA price for 10 min to execute transaction.
Sender confirms the amount of IVYA to be sent to Recipient and commits to sending.
KYC/ KYT information is bound to the IVYA and secured in Ivy Data Container and stored in private distributed clearing network.
Ivy Data Container is forwarded to the Ivy Private Network for subsequent review and processing.
Data is available for viewing by Sender, Recipient and Recipient financial institution.
Sender IVYA is held in escrow until Recipient financial institution approves transaction.
Automated acceptance criteria established by banks for well- known Senders and Recipients may facilitate immediate approval. IVYA is not available to Sender while in escrow.
Recipient’s Financial Institution reviews transaction and approves.
(If transaction is denied, IVYA is returned to Sender.)
Sender IVYA is redeemed by Ivy Network.
Sender IVYA is redeemed by ivyKoin Network which converts to USD.
and makes immediate deposit at Recipient Financial Institution. Recipient Financial Institution makes USD funds available in Recipient account.
Transaction Record is generated and made available to Sender, Recipient and Recipient’s Financial Institution.
If transaction is not approved, funds become available in Sender account for future activity.
OVERVIEW OF ARCHITECTURE
It is intended that the Ivy Network will function through the use of a dual network architecture, where senders of Tokens operate on a public network (Ivy Public Network), and parties that provide the financial settlement to fiat currency participate on a private network (Ivy Private Network).
KYC/KYT/AML data supporting transactions will be captured in cryptographic containers that are generated from the Ivy Public Network interaction with the Ivy Network smart contracts and support the activities of the Ivy Private Network participants in facilitating transaction settlement.
This data will be stored and accessible by the financial institution and governing regulators of the fiat balance recipients.
Senders will register with the network prior to sending currency. It is assumed by the Ivy Network that recipients are identified by their respective financial institutions and intermediaries as part of establishing an account.
Financial Institution and Intermediary Identity
It is intended that Ivy will rely on the good hiring practice and vigilance of information security practices at the financial institutions and intermediaries where it communicates data. All activities of identified users can be centrally tracked and managed, and individual transaction container history viewed.
BLOCKCHAIN TECHNOLOGY APPLICATION
The Company envisions the Ivy Private Network as consisting of validation nodes sponsored by entities other than itself. The Ivy Private Network will be validated directly by financial institutions and intermediaries, who are independent, yet aligned. This will greatly reduce thelikelihood of network spam and aligned incentives removes the need for block rewards that typically incentivize public blockchain networks.
For consensus, it is anticipated that a scheduled byzantine fault tolerant algorithm, such as Istanbul BFT will be used. In this consensus algorithm, each participant creates blocks on a scheduled, round-robin basis and submits its results to the rest of the network, which must vote with a 2/3 majority to approve the leader’s block calculation. Specific benchmarks of Istanbul BFT indicate that it is capable of ~1000 transactions per second, which reflects the total estimated network of interagency transactions that happen today between FedWire, SWIFT, and ACH today.
IVY DATA CONTAINERS
It is anticipated that the Ivy Network will use dxChain cryptographic containers to store KYT/KYC/AML data in a date container (Ivy Data Container). The data is collected through the interface of the Ivy application at the time the user submits their request for the transfer of currency. Contents of the Ivy Data Container are intended to include:
- Container metadata
- Transaction metadata
- Submitted transaction Details
- Sender identity information (as applicable)
- Supporting documentation and attachments
Using this format, each component of supporting data is independently and persistently encrypted to secure access at rest and during exchange using standard AES-256 symmetric and 4096 bit RSA asymmetric cryptographic methods, and SHA-384 message digests.
TIER 1 WORLD CLASS TEAM WITH A TRACK RECORD OF DELIVERY
ADAM SANTA MARIA
Enterprise Ethereum Alliance
IVY (IVY) Token Information
|Total Token Supply||1,610,924,200|
For further information on the Token Pre-Sale please see the White Paper.
Post Issuance Holdings – Total Tokens
Token Sales - Includes all tokens sold up to the TGE, including all prior token sales and associated token based fees.
Ivy Reserve - Only used to fund further development and operating costs if required.
Growth Pool - Used to incentivize partners including financial institutions to test and adopt Ivy.
Ivy Treasury - Used to facilitate ivySend transactions and other treasury functions.
Management and Advisory Pool - Incentivize current advisors and future management to join the company.
- Token Generation Event
- IVYA available publicly
- Test Network Live with Smart Contracts
- KYC/KYT Transaction containers
- Ivy public interface live
- Establish partnerships with Financial Institutions
- Discussions with US Regulators
- Public network live
- ivySend live with legacy interbank systems
- Ivy direct IVYA sales and market operations live
- ivyReceive live with IVYB interbank funds transfer
- Accelerate Financial institution partnerships
- All fiat/crypto conversions live
- Enterprise authorization to containers
- First financial intermediaries