A State Depository Token (SDT) platform could issue tokens backed by the US dollar and alternative tokens backed by gold or other value systems. The dollar tokens would be legally restricted by Federal money laundering laws, but the alternative tokens could act as a cash-equivalent in a separate domain.

Economic Forces
Overview The fiat US Dollar is already older than all fiats of the past several hundred years and contrary forces are building against it. Russia and China have planned for its end since 2009, it is aging as the world reserve currency, and the current Federal debt is unsustainable. Gold
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The Euro is somewhat like harnessing a horse, a mule, a dog and a turtle to pull a wagon. A "one size fits all" strategy creates stresses because regions have different resources, skills, goals. Most economic transactions are local and an SDT would be controlled regionally to meet regional conditions.

THE PLATFORM

Components defined and justified for State Depository Token Platform:

ACH, KYC & AML: 3rd-party API development
Language: Python ver 3.9 - Ubuntu install
Blockchain: Quorum - QuickStart, Features
Database: AWS RDS
ORM: Prototype with Peewee - https://github.com/coleifer/peewee
Transport: AWS Lambda
Security: Fireblocks MPC - Github
Queue: AWS SQS
Vault: AWS Nitro Enclave
Schema: OpenAPI - Editor
Stablecoin: Custom work to extend Quorum
Depositories: Probably proprietary API work
Other Tools: Misc

PROCESS OVERVIEW

  1. OpenAPI and ChatGBT create schemas, SQL DDL and REST apis.
  2. Python creates API code.
  3. Client sends a transaction message plus 1st private key shard.
  4. REST API accepts the message and queues it to SQS.
  5. API retrieves 2nd key shard from RDS.
  6. API submits it all to Nitro Enclave.
  7. The embedded Fireblocks library retrieves 3rd key shard.
  8. Fireblocks executes MPC on assembled key to validate.
  9. Nitro Enclave returns result to API.
  10. API writes entry to Quorum blockchain.
  11. API returns result to client.

More REST API details shown here...

Revised Crypto Platform - 2020
A redesign exercise of an AWS crypto platform I created a couple years ago which received $7.7 million from my design and an additional $13 million in 2021. Three application domains defined - Guarantee, Action, Reference. Guarantee uses AWS SQS queues to guarantee state and execution. We store the
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SDT 2024 Overview - broward
Research, design, code and install docs for the State Depository Token platform proof-of-concept
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GitHub - broward/token: State Depository Token Platform
State Depository Token Platform. Contribute to broward/token development by creating an account on GitHub.
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