Press Release 20 October 2022
Beam Metaverse
Bank of Duck launches with an array of confidential assets and private noftes.
Decentralised User Controlled Knowledge - DUCK*
*only you have power over your finances.
WITH BANK OF DUCK
Method:
User installs Beam wallet on their desktop pc at home. User makes purchase of digital assets.
If the user purchases tokens – which are confidential assets, directly from BoD (Bank of Duck) they are also furnished with nofte versions to the same value. User redeems both CA + nofte - or can sell nofte back to the bank to receive it’s face value…
If the user purchases noftes – which are banknotes minted by the Bank, they are also entitled to receive confidential asset paired to the nofte ONLY to the sum of the description in the nofte. To allow the user to receive the sum of confidential asset, the user must give back to the Bank, the nofte.
Backed by 2.3trillion GBP, Bank of Duck refuses to work with centralised currencies, their mechanisms nor their role in the world. They are obsolete.
In partnership with satoshi nakamoto project and MWI on Beam, Raskul lives in Scotland, quietly with his family.
Bank of Duck does NOT bridge to other chains currently. And prefers not to, as we have witnessed of late, these are prone to exploit. Bank of Duck remains on Beam.
Essential to our business, we have entered a development request to Beam CTO. The request was posted publicly on
https://forum.beam.mw and reads:
ESSENTIAL
DEVELOPMENT REQUEST FOR A DAPP - BANK OF DUCK
The Nofte is, in it’s very basic form, a banknote NFT which can be redeemed for amounts of CA, linked to the nofte.
This Dapp would be for Bank of Duck users, to allow automated redemption services of NFT <> CA (both CA to NFT and NFT to CA should be supported in the dapp).
The dapp would have a simple customer facing UI which allows user to send any particular NFT to RIOTPIG artist ID and automatically receive the amount shown on the NFT to the value of the Confidential Asset specified.
Example
User sends 1 Crown nofte NFT (BEAM NFT Gallery) into the dapp and receive 70 Crowns (CA) in return (Beam Block Explorer)
A basic automated swap service with the most simple UI where nofte NFT’s issued by the bank can only be redeemable for the correct CA, paired to the correct NFT.
ie:
Crowns <> Crown nofte’s
Tico <> Tico nofte’s
Sov <> Sov nofte’s
Etc etc
Backend UI (admin)
Admin can load up or withdraw into or from the dapp wallet part from the main wallet (deposit/withdraw options) with amounts of CA as a reserve - these amounts should be visible to the user in the main screen of the dapp as BANK RESERVES.
Example -
Crowns (x - amount) in reserve (changes as more are loaded, or withdrawn)
Tico (x - amount) in reserve (changes as above etc etc)
programmable options in the admin section- swap x for y and add any ca
Admin can specify and alter the amount of specific CA which can be redeemed to any specific NFT from a specific collection. 1 Crown nofte NFT = 70 Crowns etc
Since collections are already built for each NFT (nofte) example CROWNS (BEAM NFT Gallery) then the dapp will know if it is the correct NFT to redeem, as it would be already registered onchain and once redeemed, simply returned to it’s placeholder in it’s correct collection upon confirmation of redemption and the bank (RIOTPIG id) will own the NFT again with ability to reprice and resell…
Moderation system which the moderator can approve or reject redemptions.
Approved redemptions are concluded, rejected redemptions are refunded.
a white label (blue as Beam) without branding, open source and reusable by others.
please and thank you.
R
'The money which the people of this planet use will not be open to the social control of those peoples.' Raskul. Founder of BoD.
Anon
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