[PRE-ANN] Paper - DAG Real World Asset Exchange - page 6.

willstarkro

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Quote from: bitblaster on January 01, 2018, 06:02:56 PM

I am looking for a project that combines DAG with zkSNARKs.
Not sure if it works, but would be very promising.

The zkSNARKS would be implemented if I decide to use RaiBlocks, since RaiBlocks currently has a very weak system in place right now to protect transaction privacy.

There is one person that is claiming to be working on a solution (here https://bitcointalksearch.org/topic/pre-ann-stone-dag-data-structured-private-cryptocurrency-2581762). It is quite a difficult task, due to how much computing power each transaction would need (this will slow down the process considerably), and I will do my own analysis to see how feasible it really is.

bitblaster

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Bit Blaster

I am looking for a project that combines DAG with zkSNARKs.
Not sure if it works, but would be very promising.

Almy

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willstarkro

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The Idea

The world of digital cryptocurrency is simply that, digital. While everyone would agree that this is how we will eventually transact, there will always be physical, real-life assets that people/businesses/governments possess Paper will be the first ledger that allows a user to electronically register ownership of a physical asset, and also allow for the exchange of physical assets through the same ledger, all while having free and instantaneous transactions. This will be accomplished using a modified DAG data structure built on three layers. The first will be the Paper currency, then there will be an intermediary smart contract layer, and finally the asset ledger, which will track the movement and data of each asset. For distributors, Paper will integrate with your existing processes to automate and decentralize Sign-offs, Bills, and shipment tracking.

Free trade is stitched into the fabric of the international economy. Though critical, this multi-trillion-dollar sector is largely run on legacy infrastructure that is incredibly inefficient, costly and sluggish. Plagued by a host of error-prone intermediary parties, the logistics industry is overdue for a serious overhaul.

Paper is building a fully integrated Blockchain system to unify the modern supply chain. By logging transactions via an encrypted public ledger, the platform will provide users with complete control over and access to the status of their shipments. This will give entrepreneur-customers a top-down view of their product’s movements.

Use Cases

• The largest use case for me is the global e-commerce industry, as this will allow for an immutable ledger of who owns what, at what time.
• Core assets such as houses, cars, etc. This technology could theoretically replace deeds and registrations.

How it will work

Think of the ledger as an immutable data storage container, which shows each real world asset through it's life cycle. This asset will have it's own chain, where you as the owner of the item can record any information you so choose on the item, as well as initiate the transfer of ownership to any other account you so choose.

The main node will simply have every single asset public key - paired with the owner's public key. This greatly reduces data issues as anybody that hosts the full node would only need to store those blocks. The only updates that affect a full node are the changes in ownership of assets.

If the item (such as a computer) already exists on the ledger with a preexisting uniquely identifying key, and you purchase it off of someone else, then it'd simply be a transfer of assets from one person to another with the completion of your payment.

The issue is when a new item is created, or you want to add an item that previously did not exist on the ledger.

If it's a tech product, such as a company creates a new car and they need to list it onto the database, then the machine's software itself would use an API provided by Paper, which generates a unique key linking it to the company/person creating it. If it's a non-tech product, this is a much harder problem to solve. One route I am thinking is implementing a sensor onto the asset, such as a house, could be purchased from us. You would need to specifically tell us what the product is and so forth, and if we would detect that something like it already exists, we would reject the creation of the asset on the ledger. This sensor could also allow us to track the position of the product, such as a package you order. Any time the package stops moving, we would create a new data entry recording that position.

Because of this implementation, we would never allow a new key be created for an already existing asset. This ensures that the asset wasn't taken illegally.

What I'm currently working on building is the master node, this is what will be built on a DAG Protocol

Timeline

•   End of Q1 2018
   o Finish mathematical structure and facilitation for storing ledger of physical assets
   o Begin work on creating hardware/software solution to create distinct key for each physical asset
   •   End of Q2 2018
   o   Depending on which ledger I implement, this phase will involve reforming ledger to meet demands of this project (This may stretch into Q3 2018)
   o   Release Beta version at the end of this phase
   •   End of Q3 – mid Q4 2018
   o   Continue development of ledger
   o   Build out API’s and toolkits

Discord Chat: https://discord.gg/9HsErfP

Sources/Credits:
IOTA whitepaper: https://iota.org/IOTA_Whitepaper.pdf
RaiBlocks whitepaper: https://raiblocks.net/media/RaiBlocks_Whitepaper.pdf
Bitcoin: https://bitcoin.org/bitcoin.pdf
IOTA vs RaiBlocks Technical Discussion: https://hackernoon.com/iota-vs-raiblocks-413679bb4c3e

Topic: [PRE-ANN] Paper - DAG Real World Asset Exchange - page 6. (Read 2293 times)