Successfully reported this slideshow.

GEO Protocol Presentation

0

Share

Loading in …3
×
1 of 23
1 of 23

GEO Protocol Presentation

0

Share

Download to read offline

GEO Protocol is an open source overlay protocol that enables creation and interoperability of value transfer networks in a lightweight, cost - efficient, and scalable way.

GEO Protocol is an open source overlay protocol that enables creation and interoperability of value transfer networks in a lightweight, cost - efficient, and scalable way.

More Related Content

Related Books

Free with a 14 day trial from Scribd

See all

GEO Protocol Presentation

  1. 1. Creating a Universal Ecosystem for Value Transfer Networks
  2. 2. Problem In the world of siloed networks the competitive spirit results either in formation of harmful monopolies or in a multitude of small-scale solutions that do not achieve significant network effect. However, the global reduction of marginal costs and the demand for financial inclusion and fairness increasingly require financial networks to become part of a global ecosystem. In such an ecosystem users would benefit from interoperability, reduced costs, and unfettered access. Different value transfer networks need a universal solution that would build bridges instead of walls. 02
  3. 3. Problem 03 Lack of interoperability between financial networks Current distributed networks are slow, not scalable, and expensive Blockchain and traditional finance are fragmented into silos
  4. 4. Solution GEO is an open-source overlay protocol that enables the creation and interoperability of value transfer networks in a lightweight, cost-efficient, and scalable way. 04
  5. 5. Solution: Features 05 Distributed network with no common ledger 01 There is no single database; all the data is stored locally on the user nodes. Double-spend-proof due to local consensus 03 Transactions are executed between the nodes involved, and require outside parties to intervene only in the rare case of a dispute or a connectivity issue. Blockchain-compatible as an off-chain scaling solution 02 The protocol is autonomous and can be connected to any ledger. Post-quantum cryptography 06 Protocol architecture allows the use of Lamport signatures. This protects the participants from quantum computing attacks and makes the GEO protocol future-proof. Full transaction atomicity 05 Each participant can be assured that a transfer is successfully completed and that in case of network issues no money is lost. Lightweight nodes 04 Since there is no need to store the data of the whole network, nodes can run on lightweight devices, including smartphones.
  6. 6. 06 GEO Ecosystem: A Macro View O B S E R V E R S Role: To ensure the safety of the network by resolving disputed transactions Played by: Any entity who receives enough delegated tokens Incentives: - Emission of Token Certificates - Payment for the service by users V a l u e t r a n s f e R P a r t i c i p a n t a c t i o n s Adding/checking an asset equivalent Traditional financial institutions Other registries Blockchain #2 Blockchain #1 Blockchain #3 GEO Network Observer chain Ledgers outside of the GEO ecosystem Keeping state of user’s node Providing IP services Registering as a service provider H U B S Role: To provide sufficient liquidity for transaction completion Played by: Any node that has a sufficient number of connections to other nodes Incentives: Receiving transaction fees N O D E Role: To keep history of transactions in which the node is involved and to facilitate transactions as part of a multihop network Played by: Any user is a node Key features: Lightweight, easily deployable S T A T E K E E P E R S Role: Тo provide nodes with backup for better network security Played by: Аny entity with sufficient stake Incentives: Receiving user subscription fees I P P R O V I D E R S Role: To provide IP addresses to nodes with no static IP Played by: Аny entity with sufficient stake Incentives: Receiving user subscription fees Participant registry Goal: to store identifiers (names, usage time, public key, etc.) to ensure the safety of the network Asset equivalent registry Goal: To register and keep track of all asset equivalents within the GEO Protocol network Directories of service providers Goal: To maintain a list of service providers, along with accompanying information such as ratings and their stake
  7. 7. ETH USD BTC GEO Ecosystem: A Micro View T R U S T L I N E ( I O U ) Role: To perform transactions between the nodes that trust each other Key features: – Increases liquidity – Enables higher throughput – Multi-asset transactions C O M P O S I T E C H A N N E L Mix of trustline and state channel with partial asset lockup S T A T E C H A N N E L (A.k.a. an IOU mirrored on the blockchain) Role: To enable trustless cryptocurrency-based transactions Key features: – Scalability solution for existing blockchains – Transactions with existing asset classesN O D E Role: To keep history of transactions in which the node is involved and to facilitate transactions as part of a multihop network Played by: Any user is a node Key features: Lightweight, easily deployable Traditional financial institutions Other registries Blockchain #2 Blockchain #1 Blockchain #3 GEO Network Observer chain Ledgers outside of the GEO ecosystem Bird’s-eye view:01 Zooming in (types of node02 connections): Zooming in further (multi-asset03 interactions): 07
  8. 8. Use Cases GEO Protocol’s simple back-end technology enables a wide variety of applications and tools. 08
  9. 9. Use Cases 09 Payment solutions Global market size - $2T Source: www.mckinsey.com Cross-border payments Global volume - $22T Source: www.eservglobal.com IoT solutions Global market size - $1.71T Source: www.statista.com Loyalty programs Global volume - $1.99B Source: www.wiseguyreports.com Cross-chain DEXClearing systemsVoting systemsLocal currencies
  10. 10. Case Study 1: Payment Systems Before GEO With GEO Implementation of a free, open-source processing system Local data storage, significant savings on server costs High transaction throughput without increased demand on resources Operations executed and accounted directly on user devices Ability to execute large number of microtransactions and opportunity to set up “per second” streaming payments 10 users 10,000+ trust lines 45,000 USD UAH BTCCurrently supports , , High cost of processing, development, and maintenance Slow transaction processing Limited and expensive cross-border payments Microtransactions and streaming payments not possible Existing app:
  11. 11. Case Study 2: The Internet of Things Before GEO With GEO Security: In many cases, cloud services may be easy targets for attacks and data theft Privacy: Lack of authentication, reliability, and data confidentiality Absence of unified standards for data exchange Micropayments not possible due to cost and scalability GEO allows users to transfer and account any resource equivalents (energy, water, gas units, etc.) Charges are made instantly and automatically Security: No common ledger; all data is stored locally, making it impossible to access the data on the network even in case of a local hack Privacy: Post-quantum cryptography and signatures; each device only stores information about its own interactions with peers 11 GEO Protocol allows resource providers to communicate prices of resources (kWh, water, gas, etc.). Consumers can make continuous streaming payments for these resources
  12. 12. Case Study 3: Cross-Border Payments With GEO Easily deployable open-source protocol with low integration costs Atomic online payments that guarantee high speed, security and double spend protection Using a network of market makers instead of centralized middlemen allows users to find the best way to exchange currencies Highly flexible and accessible because of atomic multi-asset transactions Priced per transaction, not based on notional amount No requirement for a dedicated cross-border currency, can use any available asset for inter-jurisdictional transfer of value 12 Before GEO The world of traditional finance: dominated by middlemen, monopolized, heavily regulated Transactions are time-consuming, costly, inefficient Outdated infrastructure that cannot adjust to the changing demands of the market Lack of integration between different payment systems A M E R I C A E U R O P E A S I A User Merchant MM BTC ETH LTC CNY CNY CNY CNYMM MM MM MM MM
  13. 13. GEO's simplicity and uniformity allows large players and individual users alike to connect to the network, interact with each other, and gain access to all of the services available in the network. This ability greatly contributes to the network effect that increases the value of the network for all participants. 13 The Network Effect in GEO
  14. 14. The Network Effect in GEO Exchange 01 Exchanges, liquidity providers, stock and commodity markets services value 02 Custodians Financial institutions, banks Blockchain networks Providers of Service 03 Applications (crypto and e-wallets, mobile banking, marketplaces) Businesses (e-commerce, payment systems, energy, retail, etc.) Any company that is involved in money/asset/value transfer providers Individual 04 users 14 Parties that benefit from the “Network Effect”:
  15. 15. Network Effect: Exchanges Operating in silos Low liquidity for exchange operations Difficulties with new blockchain asset integration Limited availability of fiat rails 15 Operating on GEO Protocol Ability to execute trades via other exchanges Ease of integrating new assets Ability to trade fiat pairs Additional revenue for executing transactions on behalf of other exchanges GEO Protocol allows users to connect existing crypto-exchanges into a global network
  16. 16. Active Partners: Exchanges 16
  17. 17. Tokens in GEO Ecosystem Emission rate: depends on Observer consensus. Used to compensate Observers for their contribution to the GEO network GEO Token Type: ERC-20 Emission: Fixed Total Supply: 100 million Role: Voting and staking asset in GEO Protocol Total GEO token capitalization represents the value of GEO Protocol. The size of the token stake delegated to observers and other service providers signals the quality of their service. Token Certificates (TCs) Type: A native token of the Observer chain Emission: Non-fixed (Mint-and-Burn model) Role: Means of paying the subscription fee in the GEO network (1 TC = 1 week of service); incentive mechanism for the Observers 17
  18. 18. Token Flow Model 01 The voting process: Token Holders (TH) delegate GEO tokens to Service Providers (Observers, IP Providers, Hubs, State Keepers, etc.) 02 Based on the voting results, the Pool of Observers is formed 03 Audit of transactions and emission of Token Certificates (TCs) by Observers 04 GEO Network nodes buy TCs 05 Registration of TCs; only users who have registered their TCs can use Observers services 06 Appeal to the Observers in case of suspicious transactions 07 Remuneration of the Token Holders by the Service Providers (Observers, IP Providers, Hubs, State Keepers, etc.) Goal: To register and keep track of all asset equivalents within the GEO Protocol network Asset equivalents registry Participant registry Goal: to store identifiers (names, usage time, public key. etc.) to ensure the safety of the network Directories of service providers Goal: To maintain a list of service providers, along with accompanying information such as ratings and their stake Token holder 01 Traditional financial institutions Other registries Blockchain #2 Blockchain #1 Blockchain #3 GEO Network Observer chain Ledgers outside of the GEO ecosystem 03 04 06 07 02 05 Token holder Token holder 18
  19. 19. Other Solutions Feature GEO Protocol Blockchain-agnostic Trustlines, state channels Full atomicity and time-predictable finality due to Observers Chain Distributed routing; each node only tracks its immediate peers Beta Lightning BTC and BTC - compatible blockchains Payment channels HTLC Each node has to have a global view of the network Beta Celer Network Any ledger (focus on Ethereum) Generalized state channels HTLR Nodes only know their first level MVP Interledger Any ledger Payment channels, trust lines HTLA Routing is done by Connectors using routing tables Beta Blockchain compatibility Channel types Atomicity Routing Development stage 19
  20. 20. The Team: Founders Max Demyan Founder and CEO More than 20 years of entrepreneurial experience that spans investment and portfolio management, corporate finance, history of money, payment systems, and decentralized technology Focuses on P2P networks, building distributed organizations, tokenomics, off-chain technologies, and Teal Teams Founder of TOR-BA, a chain of supermarkets, and the accounting firm Poslike -- combined annual sales of $50 million Master's in Economics Dima Chizhevsky Co-founder, Chief System Architect Experienced open-source activist, cryptanalyst, and systems architect Specializes in secure decentralized and distributed systems, P2P protocols, payment processing, and network systems Former Head, Google Developers Group, Ukraine Lecturer, Python and modern databases, at Ukraine National University Master's in Computer Science 20
  21. 21. The Team: Executives Sergey Onyshchenko Business Development Manager Dima Kovalchuk Chief Business Development Officer Entrepreneur with 10 years of experience, including 3 years of business development for a blockchain software company Cofounder of InCrypto, an IT development company Founder of Savex Minerals Master's in Finance, Master's in Construction Engineering Natalie Gavrilenko Chief Marketing Officer 9 years of experience in IT marketing and event management Former CEO of Around B, an events & marketing company Former PR & Community Manager, Bitcoin Foundation Ukraine and Blockchain Hub Kyiv Organized bitcoin and blockchain conferences in Eastern Europe and the Middle East, the first in those regions Master's in Law; marketing and management certificates 10 years of experience as CEO managing operations and development of Alterra Group, a real estate company that manages more than 1 million square feet of commercial property Co-founder of InCrypto, a blockchain development company Master's in Computer Science, Master's in Management Nik Iiashchuk Core Developer/System Architect 15 years of experience software development, mathematical and computer modeling, cryptography, numerical algorithms, machine learning/AI/neural networks Published author of articles on computer modeling, and computational methods Master's in Computer Science 21
  22. 22. The Roadmap 22 Q 1 2 0 1 9 Q 2 2 0 1 9 Q 3 2 0 1 9 Q 4 2 0 1 9 2 0 2 0 2 0 2 1 Finalized cryptography End-point platform libraries Specifications IPv4 Addressing State Keepers Cross-chain transactions Addressing (IP/Traversing/NAT) Observer chain testnet Network modeling Cross-border payments BTC/ETH/EOS support Routing/max. flow enhancement Asset equivalent registry GSR smart-contract Beta State channels IoT Multi-asset transactions Release candidate Infrastructure for service providers GEO Intelligence Improvements to Observer Chain Mainnet
  23. 23. Contacts geoprotocol.io info@geoprotocol.io 23

×