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Generic value transfer primitive - master thesis #6029
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Rough timeline (tentative)
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Update on 30 March 2021. Many students are contributing to Superapp: 1) Machine Learning, 2) multi-sig Bitcoin, 3) liquidity pool Euro-Bitcoin 4) liquidity pool Bitcoin-Ethereum Brainstorming on concrete directions:
ToDo first sprint: get the superapp going from the sources. Start a Euro gateway. Understand the decentral social network: peerchat. |
2nd Brainstorming on concrete directions:
Some related developments: digital offline Euro... "The analysis confirms, by and large, our initial findings: what the public and professionals want the most from such a digital currency is privacy (43%), followed by security (18%), the ability to pay across the euro area (11%), no additional costs (9%) and offline usability (8%).", https://www.ecb.europa.eu/press/pr/date/2021/html/ecb.pr210414~ca3013c852.en.html China and the race for the future of money. "China started with several urban pilots of the digital RMB—known formally as digital currency electronic payments (DCEP)—and is studying moves to broaden the trial to additional areas. DCEP is a fully digital version of the RMB, downloaded using authorised apps (digital wallets). The currency may incorporate secure technologies such as blockchain, as well as near-field communication (NFC) capabilities that allow offline money transfers when two wallets (typically mobile devices) touch.", https://www.pwc.com/gx/en/issues/reinventing-the-future/take-on-tomorrow/china-future-money.html “States risk ceding control over many areas of finance and the economy to the private companies that dominate the digital space. Leading technology companies will entrench their monopoly positions, drawing on financial resources and superior engineering capacities. The monopoly on data held by third parties will continue to pose increasing risks of manipulation and criminal use of personal information. Privacy and the ethical use of data are key topics to be addressed by law enforcement, legislators and policy makers.” |
To discuss: file transfer progress bar. (#6023 (comment)) |
First version problem description. |
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I can help getting the EuroToken code to work. Do you have any way i can reach you? |
Updated version of problem description and a start on state of the art. |
Feel free to make it stronger, if you feel that way. You can keep it in this more "boring"/rational manner. Activism is OK at a university. Within Tribler team we are interested to the point of obsession with monopolies: I. the financial system with the free money creation monopoly; II. global media and news organisation with structural bias, state-censorship, and fake news. III. Platform power with Google, Facebook, and Amazon with anti-competitive behaviour, winner-takes-all dynamics where competitive pressure has failed. Opening line of problem description could be: the current financial system and digital economy is structurally unfair to citizens. Governments have failed to protect "consumer welfare". Citizens and economic actors have no alternative to banking services, Big Tech and their anti-competitive practices [1; 2]. This thesis contributes to a reformed financial/tech sector that is more efficient (I.), more effective in serving the wider economy (II.) and more resistant to bad behaviour of all kinds (III.). Our first motivating example of market failure is the WhatsApp messaging platforms. [etc etc] Whatsapp failing terms-of-service. Competitor based on openness Signal has barriers to market entry, no network effect, compete against closed protocol. Whatsapp has stickyness, like Hotel California, you can install, but never leave. Unfortunately citizens are powerless in this uncompetitive market. Governments need to actively support Adversarial Interoperability. This thesis indirectly contributes to such efforts. Cardinal financial primitive (idea for thesis core): arbitrary amount of Euros, arbitrary sized binary blob, and proof-of-existence (hash(Tx)) of this transaction on your personal Trustchain. Generic function to move both valuable information (euro=0), monetary value (blob=0), or financial transaction enriched with information (nothing=0). Generic in the sense that its a multi-currency transfer primitive (Bitcoin,Euro, Ethereum or Tether scam coins). Comments ToDo: update Chapter 2, replace readable normal people speak with scientific sounding terms and more compressed formulation, Android hardware procured, coding steps. For instant pleasant experience; testnet for Euros, faucet with 10 Euros upon install, every user can instantly play with all features, plus existing Bitcoin testnet faucet. Current thesis scoping: Reliable enough for money, flawless inter-SSI communication, contract signatures, citizen identities,
Everything comes together in your impressive design: identity personas, authority interactions, chat messages, and financial transactions. |
Questions for this iteration:
Screenshots of current iteration of app. Real running code, awaiting PR. |
The thesis work is progressing nicely. Running code is looking great!
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Note, about the ID wallet. Please consider adding TUDelft+logo as an issuer of diplomas. We can easily issue course credits in a live trail. 1 Oct 2021 the European Commission is collecting prototypes from many EU teams, their focus is cross-border diploma validity, see page 27: https://northsearegion.eu/media/16680/ebsi-explained-by-daniel-du-seuil.pdf |
The current iteration of the app. Added the exchange section, but is still a bit rough and sometimes not displaying the correct information. Options to transfer money by QR-code or directly to contact and request added. Contacts changed slightly, including ability to remove contacts and conversations. Identity now includes complementary attributes like address, email, .etc. These attributes can at a later point be shared within a chat or through QR-code. They are however not 'legal' attributes of an identity. |
Feedback :
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Attached is a zip file containing a (signed) apk that can be installed as a separate trustchain application (link) |
Big update to the app. Many new features are implemented, including interface changes and optimizations. See the (not exhaustive) list of updates below and a gif of screenshots:
An updated (signed) apk can be downloaded in a zip file here. The application will be installed as a separate trustchain application. |
Amazing progress this summer! We now have the following inside the superapp:
Planned next weeks steps: Pull Request 2 September at the latest, unit testing https://github.com/Tribler/trustchain-superapp/actions |
Review of https://github.com/Tribler/tribler/files/7584365/Article_22_11_2021.pdf
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What is the cardinal related work? Metamask seems to come close, quite mature app and combines several paradigms (ID,wallet,DeFi,exchanges,embedded browser,dApps, etc). Architecture on Github details: https://github.com/MetaMask/metamask-mobile/blob/949368384751c1379efc83e6a1a1a7070900c4b0/architecture.svg |
Updated version of the app (zip).
No progress has been made with the paper since implementing the EVA protocol took quite some time. For the next sprint, I'm planning to spend about half of the time to the paper. |
New version of app that has an updated EVA protocol for a massive increase in transfer speed. |
New sprint, new apk https://filebin.net/8320ndukryz5zu3w, updated article Article_4_1_2022.pdf, and poster for next week Poster - Web3 Identity v1.pdf.
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New update to the article. |
👍 Getting ready for defence soon 👍
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Thesis in the correct format. Thesis_3_2_22.pdf |
Solid progress! Getting ready to pick a defence date. Quick scan only:
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Final draft of the thesis Thesis_7_2_22.pdf |
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Please only use 250MByte files everywhere. And note in the text that you tested other files sizes, and confirm that this parameter has no influence. No need to show lots of uninteresting figures, right?
This is very poor performance. 90% or something is lost. These GHz devices and their 4G and/or Wifi5 transfers can do more. Fix, explain or document please. |
Updated draft Thesis_17_02_22.pdf |
Solid tuning! Getting ready for defence. |
Quick comments on .PPT
Related work status.IM chat + wallet + Web3 browser. Requires central servers! |
Thesis complete 👏 🥳 👏 Scientific publication of 19 pages .PDF: Web3: A Decentralized Societal Infrastructure for Identity, Trust, Money, and Data |
Problem description: architecture and deployment of trustworthy offline value transfer
The financial system is the heart of capitalism. In the online world we now have the Bitcoin open protocol for crypto tokens. No regulated alternative exists with sufficient consumer protection, stability, and state-based value guarantee. Central Bank Digital Currencies are being discussed by the European Central Bank, a digital Euro. You will build upon the Delft University experimental deployment of a digital Euro, turning it into a generic value transfer primitive. Source code
Requirements: The value transfer primitive is required to be a cash replacement 💶 . Value transfers do not require any intermediary. The requirements are to support low-value transactions, offline-first (Internet is optional), and compliance with existing laws. Value transfers may be fully automated in a machine-to-machine economy. A simple scenario is that a Tesla car could use this value transfer to buy or sell battery charge automatically.
This work is ideology driven. This works supports Delft University research towards a reformed financial sector that is more efficient, more effective in serving the wider economy and more resistant to bad behaviour of all kinds, Background reading on bearer instruments and central bank digital currency.
Digital identity is required to open a bank account. Unlimited anonymous money is not compliant with money laundering and anti-terror legislation. The problems with digital identity are unsolved. You will build upon the recent work by Rowdy who deployed a self-sovereign digital identity, eWallet, QR-code scanner, and zero-knowledge proof system. The UK minister of digital infrastructure announced their digital identity and digital trust framework also the Dutch vision on digital identity by our secretary-of-state (in Dutch only). (see also)
This master thesis is part of an incremental effort ongoing for 22 years at Delft University. We are trying to make the Internet more open, free, and fair. We are building open protocols for money, trust, code and data. A generic value transfer primitive is the cornerstone of any online economy. You will be the first to create one that works and scales.
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