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.

My goal is to create this system via State funding‚ grants‚ consulting, etc. My background is eclectic and spans startups‚ corporations‚ State and Federal systems for 35 years.

I’m designing and coding a prototype system, hopefully to demo at the NCSL summit in August.

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 the SDT 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: MPC Library mpyc
Queue: AWS SQS
Vault: AWS Nitro Enclave
Schema: OpenAPI - Editor
Stablecoin: Custom work to extend Quorum
Depositories: Some proprietary API work
Config Managemeny: Test out DynaConfig
Integration Testing: Test out Localsource
Other Tools: Misc

API PROCESS FLOW

  • ChatGBT creates schemas, SQL DDL, REST apis and python API code.
  • Client requests a transaction_id.
  • Client sends a signed EDDSA transaction.
  • REST API accepts the message and queues it to SQS
  • API pulls from queue and submits transaction to Blockchain Module.
  • Blockchain Module validates and returns result to API.
  • API returns result to client.
  • API updates depositories.

BLOCKCHAIN MODULE PROCESS FLOW

  • MPC Library generates/distributes key shards to three locations.
  • API submits transaction to Blockchain Module.
  • MPC Library retrieves shards and assembles key.
  • MPC Library validates transaction.
  • MPC Library writes a chain entry to Quorum.
  • Block Module returns result to API.

Three Separate security systems:

  • API/Transport layer uses EDSSA signed messages with client public keys referenced by user_id.
  • Secrets Store holds access data for internal systems such as RDS.
  • MPC Library uses Shamir’s Secret Sharing for key sharding and transaction validation.

API DETAILED LAYOUT

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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