EIP 2020, E-money Standard Token by Fernando Paris, Daniel Lehrner (Devcon5)

[Applause] so both is with this routine vendors to you in Madrid Spain so today we want to present you our you know a token start it's a stomach for financial payments in any operation that is using tokenize money some of the possible use cases to be were thinking about originally interval already connected our baggage string supply chain cash pouring market liquidity smart labor contracts but there are many more possible use cases for a standard so maybe the the functionalities we were envisioning to include them into this are now where black holes during payout the panties that we are going to be you need an experienced match so our first building those different clients so if compliance what we want to do is any compliance check like after money laundering or capacity to do it completely unchanged so can everything be done in one transaction another thing that we were thinking about was among the token support so it's not just one token that is supported per contract that is really similar and then one possibly use case for this would be a recommend in the bar to put up their own compliance mark contract if their specific compliance words and are we talking that's regulated and forth of interest produce this contract to check these roots and not have the collector of a connotation or the time the second building block is our Keystone which may be warrantied help yet one get allowance so you have help balance with bellow that can only be transferred on a given trader history will be only done by another and no today's the one who is going to execute it the way they're to release it or either release it and you can configure holes for the given expression so the whole we use like a thing that they put on top above so one thing that they put on top is secure so the clearing can just be imagined as a number of transfer but it's stunning two steps and what's one so the second step is here or near because there will be compliance checks that need to be done off chain so depending on the of chain compliance checks the curing agent can be due to decide to either execute to transfer a lot the important thing here is because it's using the hold during this compliance checks the token are really helped so the curing agent makes these decisions we assured the tokens are really there in the account of the but as holder and a really durable transcript and the last building block is mainly enabling decentralized start request into funding and male progressed so mainly nowadays funding at VI request must be done centralized in this case we unable to do this progressive decentralized word we have the pain of instruction dissipated instruction the instructs the operator of the money talking to either family but way out and the payment details are not disclosure the inside the chamber the interchange of chain and then the operator reads the and request that they are oppressed and then tries to fulfill it so if you put all these four things together becomes or email tokens mother which is published by us under P 2020 so the important thing here is also the expense the years of 20 so this means are the functions that you use the years of 20 are also supported them and our make the warning here is really the financial institutions have a way to embrace decentralization of the blockchain specifically so somehow needs user uses adoption so this is why we have been working with different work groups so nowadays we are working with a tougher economic initiative with this part of the a mainly reshape fine tuning or stander in the other way we are part of the ITU which has included our research into the last procedure thank you and mr. different workers and their factory England who independent validation so the standard is already finished it can be used by anybody but we are also thinking about some other functionalities that we could have in the future one thing would be overdrafts because you stint of the tokens and other thing will be the s-cross which would be a more complex form but also connecting existing standards one of our close localizer our researches we have built the system area between two parties morality the company also basin and Spain focus on liquidity markets I have others which we are based on and I kind of product and the first venture reliable which is a bit to be very much platform based on organized euros with the ammonia essence and when you can take 10 award of my stomach and [Applause]