Solbit

How to work Solbit in ‘Currency Exchange Platform’? First, Online exchange services of Solbit is implemented as an Amazon Web Service(AWS) in Amazon's cloud service, and have excellent scalability. Solbit combines scalability and agility which are advantages of AWS, into Blockchain. And it enables exchange transaction such as B to B and P to P be done anywhere in the world. Solbit set the spread cost of the current currency their own self to minimize burden of payment for consumers. Also they set up a dedicated online exchange website so that people can exchange any currency of each country to Solbit through Internet anywhere  in the world.

Smart Contracts System Modules The Solbit smart contracts system specification is beyond the scope of the current document and we will review only some of the main modules of the system-bank module, auction module and external tokens module (implements the Ethereum ERC 20 token standard (The Ethereum Wiki, n.d.). They provide the programming interface for interaction with the system. Access to the bank and auction modules’ functionality is restricted to ensure the business operations will be performed only inside the platform. Parts of the external tokens module’s functionality are restricted as well (minting and destruction of tokens), while the functionality described in the ERC 20 specification is publicly accessible to every Ethereum address, which has tokens (Vogelsteller, 2015) Solbit System The module manages the internal ledger for all platform accounts and the connection between the internal ledger and the external tokens.  Auction S...

Smart Contracts With a smart contract, legal stipulations are embedded in the computer code, which enables the automatic execution of functions defined by a legal contract. It also provides protection against duplicate invoice financing, as the contract will not allow for an invoice that has already been financed to receive additional financing. A smart contract, therefore, acts as an application layer that is built on the Blockchain. The development of the Blockchain that supports the smart contracts we are developing is already built and readily available and globally known as Ethereum Virtual Machine ‘EVM’ in a number of countries. Some see smart contracts as the future of the Blockchain, as they enable more efficiencies in legal contracts through a decrease in manual processing and initiation of contract terms, risk reduction through the elimination of manual errors and duplicate invoice financing, which could make value  propositions such as micropayments more ...

Using XBRL in Targeted Client Acquisition We have already tested the XBRL data extraction tool using 2016 data  sets available from USITC. The two data sets available for testing  were the charge data and accounting data. Our goal in the test was  to assess the validity of the extracted data to determine whether  the data would be useful to selected financial institution’s customers. The following analysis results explain how we intend to target clients  efficiently and effectively. This will ultimately lead to more SMEs  obtaining invoice finance from us and resulting in corresponding  increase in our revenue model and hence increase in liquidity for  Transactions in trade the platform. The ability to extract over 1500+ data points from the XBRL data set on  each company is a game changer and this gives us a great opportunity  to analysis the credit risk of a company in question, their trading partners  as we...