The following is an article originated Saturday, 30 December 2017, 17:29, just as public attention is feverishly drawn to the crypto-currency space in the name of BIT-COIN.  Though Bit-coin, along with a few other fledgling crypto's of the era such as Ethereum, Coinbase, etc., along with still questionable crypto exchanges, all were highly suspect in their legitimacy as an investment vehicle; the field was open as to how, and in what direction, if any, the new block-chain technology would manifest.  What follows is a concept devised in response to these developments, and given how to-date crypto-currency is being regarded, given that Bit-coin has materialized as a significant challenge to fiat currency convention, it may read a bit naïve, but hopefully worthy of a read in context to current developments; Enjoy! 

CRYPTO BANK: as above – so below Saturday, 30 December 2017, 17:29

The concept of Block Chain technology in the creation of an alternate transaction currency to the well established, government and central banking institution fiat currency has identified countless issues many being centered on security of established equity and transactional functions stemming from exchange of goods and services payable utilizing a crypto (encrypted) currency/asset.

To address this issue is a tsunami of ICO’s (Initial Coin Offering); a mechanism to raise investment funding for development of alternate Block Chain and alternate technologies, to address these important issues before a wholesale drift from fiat  to crypto currencies is viable.

At present, because the field of players in the crypto investment and development space are all essentially vying for the same investment dollars and, in a race to have their project development edge out the competition, often the difference between success or failure, it has become more of a chase for quick investment gains by investment speculators, rather than system development itself.

And, it was exactly this same stampede by big money being tossed at dot.com developers that ultimately led to the burst of that investment bubble when, too late, it was realized more money was going in to the development, than progress or returns on investment.

So ultimately, this will undoubtedly happen with crypto and, knowing this, the ideal would be to produce and develop a system, external to the current malaise of developers, but optimizing on the faults and concerns derived and detailed by their efforts.

There are two basis upon which to build the Crypto-System that will best respond to known and hopefully: unknown, technical transactional issues, asset security, timeliness of exchange and stability of exchange rates of trading currencies (of all definition)

First: Forget the Wallet; be the Bank! As a Bank it will hold secure and transact in ALL viably serviceable Crypto-Currencies. 

Every individual/business entity is deemed their own Bank. The Bank will have three principle compartments or Vaults: (Movement of currency between Bank Vaults to utilize the same Cellular Transaction Process as detailed below)

          1.   Purchase/Sale– currency to purchase goods and services and/or receipt from sales of goods and services

          2.   Savings – currency in safe keep vault

          3.   Investment – currency set aside for investment trading

Second: Cellular Transaction – each transaction is a Stem-cell in nature; to transform the cell: it requires a unique protein or KEY . 

The Cell becomes the body of the potential outcome but, can only manifest a transaction when the appropriate, unique, encrypted KEY unlocks the fully what the Cell is to manifest in the way of goods and/or services.      

Example: A purchase is initiated for a Toaster; having agreed with the Vendor the value or cost of the Toaster:

• the Purchaser issues a unique and encrypted Purchase Key with the approved amount in the accepted crypto currency of the Vendor;
• the Vendor correspondingly and, simultaneously issues a unique and encrypted Vendor  Key to the Purchaser detailing the agreed to purchase amount in the agreed to crypto currency;
• the Purchaser Key must equate to the Vendor Key detailing all aspects of the  transaction resulting in transfer of currency to the Vendor and a Shipping Order to the Purchaser.

The process is duplicated, simultaneously by the Purchaser’s Bank and the Vendor’s Bank in the same fractional time it takes to process the Transaction.

The Bank is protected and secured by Identified Fire Wall:

          1.   Consumer FireWall – protecting transfer of data with Vendors of goods and services;

          2.   Exchange FireWall – the Bank will interact continuously with the Exchange(s) for daily currency rates to be applied to purchases of goods and                    services as well as currency held in Savings.

Advantages to a Crypto Bank:

          1.   Each entity whether a private individual or a business/corporation is in absolute and total control of their currency and asset holdings;

          2.   Each transaction for goods and services between Purchasers and Vendors for goods and services is a unique, cellular transaction secure and                      trusted by the validation of money and goods transfer occurring simultaneously by use of encrypted KEY specific to the transaction;

          3.   Viable interface and concurrent operation with the established Fiat currency system treated as just another form of currency to that of Crypto;

          4.   Ease of financial management reporting for purposes of Taxation filing;

          5.   Total privacy and security of financial records.

STRUCTURE OF CRYPTO SALE OR PURCHASE TRANSACTION: