State Depository Token Platform - 2025

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.

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...