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Fortis-ámyna-smart contract model for cross border financial transactions
- Source :
- ICT Express, Vol 7, Iss 3, Pp 269-273 (2021)
- Publication Year :
- 2021
- Publisher :
- Elsevier, 2021.
-
Abstract
- A Futuristic Operating transactions Reaching beyond Territorial borders In blockchain Smart contract model (Fortis-amyna) for cross border transactions in a quantum setting is proposed. A simple hybrid classical-quantum model has been described whose main ingredients are a classical blockchain capable of handling stateful smart contracts with quantum defence. This hybrid payment model uses quantum states as bank transactions and a classical blockchain to settle disputes and keep track of the valid reference numbers. The proposed model fortis amyna has several desirable properties like de-centralized, requiring no trust in any single entity; Quick payments as quantum communication, regardless of the total number of users to speed up the transactions. In addition, fortis amyna handles the situation in lighting speed in quantum bank-transaction if failed or has error due to connectivity, helping the initiator to track back the transaction from origin. This fortis amyna model has tremendous advantages regarding speed, security, and authentication, guarding against quantum breaches. Ensuring more authenticity to customers and creating by linking a Distinct (De-Centralized) Identifier with blockchain’s current transaction state eventually leads to the updated digital ledger.
- Subjects :
- Authentication
Smart contract
Computer Networks and Communications
Computer science
media_common.quotation_subject
Cross border transactions
Information technology
Payment
Computer security
computer.software_genre
T58.5-58.64
Identifier
Blockchain
Quantum cryptography
Stateful firewall
Artificial Intelligence
Hardware and Architecture
Financial transaction
Quantum information science
Database transaction
computer
Software
Information Systems
media_common
Subjects
Details
- Language :
- English
- ISSN :
- 24059595
- Volume :
- 7
- Issue :
- 3
- Database :
- OpenAIRE
- Journal :
- ICT Express
- Accession number :
- edsair.doi.dedup.....7e8ba6df1b6e8bc802f164a1ff1d4bc6