Ivy is a blockchain-based technology for FIAT & cryptocurrency 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
- Securely facilitate the transfer of cryptocurrency payments while associating KYC and KYT data via the trusted, distributed ivyKoin network
- Embed more KYT & KYC information into the transfer than traditional payment methods
- Able to be integrated into existing banking software
- Offer easy integration into accounting software for bookkeeping efficiency
- Provide revocable access to KYC/KYT data to financial institutions, accountants, company managers and others, depending on the information they require
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
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
PAPERS
Advantages of Ivy Network over Ripple and other cryptocurrencies
Our platform has planned architectural improvements compared to Ripple, our closest peer and the global leading Altcoin.
HOW IT WORKS
- 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.
Sender Identity
- 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.
- 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.
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
(as applicable)
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.
TEAM
ADVISORS
PARTNERS
IVY (IVY) TOKEN INFORMATION
Token Symbol: Ivy
Total Token Supply: 1,610,924,200[/font]
LEGEND
- Pre-Sale Token Sales – Tokens purchased in the pre-sale 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.
ROADMAP
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
IVY NEWS
Proud to announce that #ivy is now on @coinmarketcap
IVY ON IDEX
IVY WILL SOON BE LISTED ON HITBTC
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