UBS CASH Chain

Straight forward confidential peer to peer payments with simple counterparty pairing, enabling transfering assets without a middle man © Team Kryptonits

110 Views

Technologies Used

Java
Bluetooth LE
Blockchain
NFC

Project Team

Martin Rindlisbacher
Investor
Christian Meier
Entrepreneur
Rui Ventura
Designer Corporate
Volker Schlosser
Entrepreneur Investor
geraldo.mecja
Ilja
Designer Entrepreneur

This team is looking for

Product Manager Investor
REQUEST TO JOIN

About

Banks invested hundreds of millions to protect clients privacy over the last few years. However, as soon as client payments are done they throw confidentiality out of the window and hand over the most sensitive information. By using state of the art block chain technology combined with mobile app solutions we will overcome this flaw. At the same time this will radically simplify banks settlement- and reconciliation processes, freeing up massive resources. We start with enhancing the existing peer to peer paymit solution to allow replacing cash payments, big to small, without having to involve a middle man. Second phase is to link client assets held at the bank (cash, key club points, electronic (shares, items in electronic vault or physical vault) to a crypto-generated key which can then be transferred electronically (paymit / e-banking) from one client to another. The asset owner withdraws the asset via generating a crypto key into a wallet which can be transferred anonymously to another party's wallet one time (single use), on-or offline. The second counterparty would validate the crypto key via the Banks Crypto key master ledger and take ownership of the asset.

Comments