FACILITATING SECURE, TRANSPARENT BUSINESS PAYMENTS ON A GLOBAL SCALE
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Ivy is a blockchain-based technology for FIAT & digital currency business transactions which require extensive verification in the international monetary system. The Ivy network utilizes Ivy (IVY) tokens which carry KYC & KYT data points critical for Financial Institution validation.
Advantages of Ivy Network over traditional payment networks
More Know Your Customer (KYC) Data
Ivy is designed to collect more transaction specific information than traditional payment networks, to enable it to be easily accessible to financial institutions
0KYC Data Points
More Know Your Transaction (KYT) Data
It is anticipated that Ivy will also allow for more than 120 KYT data fields to be sent with transactions
0+KYT Data Points
|TYPE OF TRANSACTION||DATA POINTS|
|Core Transaction Information||74|
|Additional Party Information||13|
|Export Control Nexus||7|
|TYPE OF TRANSACTION||DATA POINTS|
|Certificate of Inspection||3|
|Statement of Account||7|
HOW IT WORKS
Sender notifies Recipient of intention to pay BTC to Recipient via IVYA and Ivy Network.
Sender and Recipient visit ivyKoin. com to establish account, providing KYC data.
Sender provides requisite KYT data.
including type of transaction and documentation required by the bank and the regulatory jurisdiction of the Recipient.
Sender exchanges BTC plus any required fees for equivalent IVYA at ivyKoin.com.
Sender locks in IVYA price for 10 min to execute transaction.
Sender confirms the amount of IVYA to be sent to Recipient and commits to sending.
KYC/ KYT information is bound to the IVYA and secured in Ivy Data Container and stored in private distributed clearing network.
Ivy Data Container is forwarded to the Ivy Private Network for subsequent review and processing.
Data is available for viewing by Sender, Recipient and Recipient financial institution.
Sender IVYA is held in escrow until Recipient financial institution approves transaction.
Automated acceptance criteria established by banks for well- known Senders and Recipients may facilitate immediate approval. IVYA is not available to Sender while in escrow.
Recipient’s Financial Institution reviews transaction and approves.
(If transaction is denied, IVYA is returned to Sender.)
Sender IVYA is redeemed by Ivy Network.
Sender IVYA is redeemed by ivyKoin Network which converts to USD.
and makes immediate deposit at Recipient Financial Institution. Recipient Financial Institution makes USD funds available in Recipient account.
Transaction Record is generated and made available to Sender, Recipient and Recipient’s Financial Institution.
If transaction is not approved, funds become available in Sender account for future activity.
OVERVIEW OF ARCHITECTURE
It is intended that the Ivy Network will function through the use of a dual network architecture, where senders of Tokens operate on a public network (Ivy Public Network), and parties that provide the financial settlement to fiat currency participate on a private network (Ivy Private Network).
KYC/KYT/AML data supporting transactions will be captured in cryptographic containers that are generated from the Ivy Public Network interaction with the Ivy Network smart contracts and support the activities of the Ivy Private Network participants in facilitating transaction settlement.
This data will be stored and accessible by the financial institution and governing regulators of the fiat balance recipients.
Senders will register with the network prior to sending currency. It is assumed by the Ivy Network that recipients are identified by their respective financial institutions and intermediaries as part of establishing an account.
Financial Institution and Intermediary Identity
It is intended that Ivy will rely on the good hiring practice and vigilance of information security practices at the financial institutions and intermediaries where it communicates data. All activities of identified users can be centrally tracked and managed, and individual transaction container history viewed.
BLOCKCHAIN TECHNOLOGY APPLICATION
The Company envisions the Ivy Private Network as consisting of validation nodes sponsored by entities other than itself. The Ivy Private Network will be validated directly by financial institutions and intermediaries, who are independent, yet aligned. This will greatly reduce thelikelihood of network spam and aligned incentives removes the need for block rewards that typically incentivize public blockchain networks.
For consensus, it is anticipated that a scheduled byzantine fault tolerant algorithm, such as Istanbul BFT will be used. In this consensus algorithm, each participant creates blocks on a scheduled, round-robin basis and submits its results to the rest of the network, which must vote with a 2/3 majority to approve the leader’s block calculation. Specific benchmarks of Istanbul BFT indicate that it is capable of ~1000 transactions per second, which reflects the total estimated network of interagency transactions that happen today between FedWire, SWIFT, and ACH today.
IVY DATA CONTAINERS
It is anticipated that the Ivy Network will use dxChain cryptographic containers to store KYT/KYC/AML data in a date container (Ivy Data Container). The data is collected through the interface of the Ivy application at the time the user submits their request for the transfer of currency. Contents of the Ivy Data Container are intended to include:
- Container metadata
- Transaction metadata
- Submitted transaction Details
- Sender identity information (as applicable)
- Supporting documentation and attachments
Using this format, each component of supporting data is independently and persistently encrypted to secure access at rest and during exchange using standard AES-256 symmetric and 4096 bit RSA asymmetric cryptographic methods, and SHA-384 message digests.
TIER 1 WORLD CLASS TEAM WITH A TRACK RECORD OF DELIVERY
Co-Founder and CEO of HiveEx
ADAM SANTA MARIA
Enterprise Ethereum Alliance
IVY (IVY) Token Information
Token Symbol: Ivy
Total Token Supply: 1,610,924,200
Post Issuance Holdings – Total Tokens
Pre-Sale Token Sales – Tokens purchased in the pre-sale token sale.
Friends & Family Token Sales – Tokens purchased in the friends & family token sale.
Seed Investors & IP Vend Tokens – Tokens purchased by seed investors and used to acquire IP.
Ivy Growth Pool – Used to incentivize partners including financial institutions to test and adopt Ivy.
Fees Paid For Various Services – Tokens used to pay for marketing costs, exchange fees and other services.
Management & Advisory Pool – Incentivize current advisors and future management to join the company.
Ivy Reserve Pool – Only used to fund further development and operating costs if required.
Ivy Treasury Pool – Used to facilitate ivySend transactions and other treasury functions.
- Establishment Of Partnership With ASX:CCA
Partnership with US award-winning ASX listed Fintech Solutions and Blockchain Investment Company Change Financial Limited
- Token Security Audit
Smart Contract coding and auditing
- Token Generation Event
The Token Generation Event allows to substantially accelerated platform development
and incentivization of early users onto the Platform
- Business Development
Recruitment for key positions. Ivy community development, marketing and introduction to mainstream media
- Application Development
Establishment of a test network with smart contracts
- Open Communication With Financial Institutions
Develop communication channels for Financial Institutions to begin Due Diligence process of Ivy technology
- Private Sale (US$17 Million)
Completion of heavily oversubscribed private token sale of US$17 million
- Partnership With First Major Bank
Signing of MOU with first multi-billion dollar bank
- Exploratory Meetings With Regulators
Engage with regulators regarding Ivy Project
- Test Network (Private)
Private testnet environment for internal use and for our external technology partners to access and interact with.
- Regulatory Whitepaper
Release of result of US Regulatory Whitepaper
- Key Partnerships With Financial Institutions
Financial institutions testing Ivy beta product on live network
- Begin Distribution Of Growth Pool
Begin distribution of tokens for Financial Institutions to test and adopt Ivy
- Test Network (Public)
Public testnet environment to demonstrate our system to banks, financial institutions, and potential business partners.
- All Fiat/Crypto Conversions Live
- Marketing and Partnerships
Accelerated Financial Institution partnerships.
- First Financial Intermediaries
- Development Of Minimum Viable Product (MVP) Live
Public network live
IvySend live with legacy interbank systems
Direct IVY sales and market operations live IvyReceive live with IVYB interbank funds transfer
It is intended that the development of the Ivy Network will occur in two Phases over 2018 and 2019. In Phase 1 of development of the Ivy Network, payments are received directly from the Company via legacy interbank payment methods such as ACH or wire. In Phase 2, banks receive payments from Ivy Network validators who facilitate private IVYB transfers on the network and immediate, direct payments to member Financial Institutions through accounts they maintain there. Over time, the Company will seek to:
- Build the network of participating financial institutions globally
- Expand conversion capabilities to include many more fiat currencies and digital assets
- Develop partnerships with organizations who can benefit from the Ivy Network
- Develop improved methods for KYT/KYC/AML data verification