Cy: Deeds & Settlements as a Sealed, Distributed, Offline Token

Officially

  • 1/100th Silver Troy Ounce
  • 1 sent = 1 recieved, no hidden fees
  • Backed by Silver or Silver ratio of another intrinsic asset;
  • Not able to be converted by DeniZens to FIAT or CryptoCurrency
  • Infrastructure token used for digital settlement by DeniZens exclusively within CyviZen App ecosystem

Cy

  • an independent, publicly verifiable, append-only, and tamper-proof log built with Merkle trees.
  • anonymous
  • genuinely offline capable
  • eventually consistent
  • distributed architecture
  • Carbon Neutral, uses existing infrastructure
  • No Limit on Concurrency
  • Quantum Encryption Ready
  • Target Zero Fraud
  • Maintains integrity during global failure and random isolated community restart
  • Cy resides in a Coffer

NOTE: Only DeniZens of CyviZen can access Cy

Blockchain

NOTE: Blockchain accessible to anyone who can install wallet software & open a suitable FIAT to Blockchain exchange account

Un-Officially

  • Cy enables distributed offline settlements for anything, such as a deeds. i.e. CyviDeed
  • Where deeds are not possible Cy vendors tend to use per weight
  • Cy is used as intrinsic asset for issuing of Central Bank Digital Currency (CBDC)
  • Cy, is used as an intrinsic asset for Retail Banks to loan local currency to members
  • Transaction style currencies can be augmented ontop of Cy as their underlying infrastructure
NOTE

Cy is unable to be converted to FIAT or CryptoCurrency in accordance with:

When runaway slaves from other countries come to Israel and ask for protection, you must not hand them back to their owners. Instead, you must let them choose which one of your towns they want to live in. Don't be cruel to runaway slaves

-- Deuteronomy 23:15-16

Cy Does not perform Transactions, Cy only does settlements

Settlements

Cy can settle deeds or Cy between coffers in a 100% Offline situation (three people in the middle of a field without any network connection). There is no need to post verify the settlement against a network

  1. DeniZen A has a Deed they wish to shell
  2. DeniZen B has sufficient Cy in their Coffer to settle the purchase of the deed.
  3. DeniZen A & B devices generate the settlement, a record of exchange of the deed, relevant Cy, Coffers, and other terms
  4. DeniZen W, now witnesses the settlement. their device verifies identical cryptographic hashes from DeniZen A & B, at which time W device seals the settlement

Done, at this moment the property has changed ownership!

{NOTE: Only DeniZen A & B know what was settled and for how much. The Witness DeniZens device only has access to cryptographic hashes of the completed settlement}

NOTE

In an Offline situation (i.e. Emergency or Disaster), without any form of network access, every DeniZen would sync devices with every other DeniZen they meet. Device Sync would become part of a society greeting & verification of trust.

In this way, Cy is a true Cash alternative as functionally it can operate in the same situations

As Cy is Offline-First, the same process is followed as when Cy is operating in Offline mode.

The variations for online, are:

  • DeniZens do not need to be within physical proximity to eachother, they can be anywhere within reach of the network
  • A DeniZen as a Witness is replaced by n+1 computational quorum on servers. These can be any Cy capable device connected to the network, thus no additional carbon is generated
Obtaining Cy
../image/design/cy-via-fiat.png

Option 1: FIAT

DeniZens often use this approach for simplicity as it tends to be more convenient than mailing silver to a vault.

  1. DeniZen via www.CyviZen.art opt to add Cy to any of their available coffers via Credit Card Payment in their local community currency
  2. A Merchant Facility capable of processing credit cards handles the transaction, collecting as required per local currency legislation, Personally Identifiable Information (PII), Know Your Customer (KYC) and any other information as necessary per legislation of FIAT currency creator. {NOTE: CyviZen does not collect any PII, KYC et al. Information collected by the Merchant Facility resides soley within their record keeping system}
  3. The transaction record from Merchant Facility authorises the creation of Cy into DeniZen coffer. Newly created Cy is immediately available to use
  4. CyviZen purchases silver and stores within an approved vault. The vault provides CyviZen with a 1:1 custodial note against the purchased & stored silver
  5. CyviZen issues a deed in CyviRecord for silver associated with the custodial note and adjusts authorised Cy legder to backed status. {NOTE: Cy can have transferred between any number of coffers at this time, the network knows the settlement history of all Cy over time, and which coffer a Cy currently resides in. The network does not know whom holds the coffer, only the DeniZen holding the coffer knows they hold the coffer}

../image/design/cy-via-silver.png

Option 2: Silver

  1. DeniZen via www.CyviZen.art opt to add Cy to any of their available coffers via Silver Deposit
  2. DeniZen opens an account with a suitable vault that CyviZen also has account with
  3. DeniZen mails silver to the Vault
  4. Vault verifies quality of silver and issues custodial note to DeniZen
  5. DeniZen transfers silver & custodial note to CyviZen vault account
  6. CyviZen issues a deed in CyviRecord for silver associated with the custodial note and issues Silver Backed Cy into DeniZens coffer

{NOTE: Cy has a fixed value of 1/100 Silver Troy Ounce, however Cy can be backed by any intrinsic asset that has a linked silver ratio, i.e. Gold} -- Contact CyviZen for more information

Leaving Cy
../image/design/cy-eol.png

CyviZen can only transfer the silver backing Cy

  1. per 1000oz quantity is required
  2. CyviZen is unable to transfer any silver deed backing Cy, network scans for Cy that could be End Of Life (EOL)
  3. Silver is transferred to DeniZen vault account, deeds that backed the silver are EOL

Contact CyviZen should you wish to do this