i(X)change

Summary

iXchange is platform that reliably and transparently exchanges assets of any type, among anyone. By design, this system has the ability to operate as a completely autonomous variable precision (no precision restrictions), centralized financial engine with the assets represented within the platform being further distinguished into classes. Everyone is a user of this exchange in some way, all exchanging assets both physical and digital, in a unified way. Anyone moving anything can do so through this global asset management and trading platform.

Think of this as eBay, PayPal, Venmo, GoFundMe, and NASDAQ, all running on a single platform, using a standardized protocol for creating transfers and transactions. Assets for the entire world can reside and be managed on this single platform.

Usage

This system considers everything to be a trade or transfer with the delineation being on whether there are both receivables and deliverables, or one of either. When a user creates a trade or transfer request in the book, they are doing so in one of these 3 ways by providing;

• Only Receivables (payment request) - Request to receive assets such as donations, funding
• Only Deliverables (fulfill a payment request) - Transfer an asset, usually to fulfill a payment, donation, or funding request
• Both Receivables and Deliverables (full trade request) - Request for exchange of assets through public autonomous, or privately directed, matching

There are a number of aspects to exchanging assets on this system;

• Private vs. Public Matching - This simply determines whether the trade or transfer request operates in the public domain and available through discovery as well as participating in the public order matching.
• Full vs. Partial Fulfill - This allows a system user to determine whether partial trades are allowed or if complete fulfillment is necessary by the counter party.
• TTL or Time to Live - How long the trade is valid before closing. If partial trades were allowed and have occured, the trade will close only partially fulfilled.
• Allow Conversions| - Go through an extra trade to get to the target asset and class on your behalf.

Business and Usage Scenarios

Here are some business scenarios that this exchange will handle, with basic descriptions of how it does so. Note that these are mutually inclusive. The exchange singularly performs all of these services, with incredible speed and reliability;

• Retail or institutional merchant services - Using any standard POS system, whether physical or online versions such as WooCommerce and Magento, you can accept payments in any asset you are willing to accept for the services or products you are delivering. If a user fills their shopping cart and clicks iXchange as their payment option, the inventory is loaded into the exchange (if it hasn't already be forged in the system, which would be things like digital assets, etc) as a merchant deliverable, with the receivable can be whatever the merchant is charging in whatever asset they're charging it in. Example, Bob buys a laptop from oldegg.net that accepts payments for product in Ether. Bob goes to the check out and selects iXchange for payment and does so with having to manage his ether wallet as he's given iXchange permission to act on his behalf, when he tells iXchange to do so. iXchange can move assets in and out, or on behalf of, any asset that can be electronically transmitted to date.
• Subscription and user management - We take the PCI headache out of your website. Easily integrate your website for payments and subscriptions services without the headaches of regular audits, while still managing your customer base, your way.
• Trading system or exchange with matching - Utilizing our front end, you can trade any asset in any of your accounts, using a standard trade creation approach. A trade is just as you imagine, a bid or ask for quantity at some price per unit with additional criteria such as whether the trade request is public or private (if public then our system matches or you can create it as a private trade and forward the receipt that has a QR, to a counter party), time to live before the trade expires, partial or full fulfillments only, etc. If the trade is public, it will loop in the matching system until it is fulfilled or expired.
• Non-profit donation acceptance - For a non-profit, the process is simple. Create a payment request which would basically be a trade with receivables, but no deliverables (or perhaps a digital deliverable like tickets to a dinner, etc). The non-profit can then take the receipt that includes a QR code, and distribute via print, email, etc. User can simply take a picture of the QR, and fulfill.
• Crowd funding requests - For crowd funding, an asset would be forged in the system to represent the fund and equity. This asset is managed by an underwriter or other responsible party for reporting. The digital asset is dropped into the underwriters account who can then put on a trade consisting of the asset being funded, how much of it to clear and the minimum price you'll take for it.
• In field payment requests and fulfillment - As a service provider that needs to take payments in the field, a payment request can easily be generated from a phone and shown to the counter party within seconds, for fulfillment. The counter party can, standing right there, fulfill payment by snapping a picture of the QR code and choosing from which account they wish to move the asset.
• Shows and conventions - For conventions and shows that have to deal with managing inventory and orders in a less than supportive environment, our exchange can solve that. As a convention booth, a merchant can create open transactions for each inventory item you'd like to sell at the convention, and have a single display unit and just a picture of the transaction receipt that has the QR code. Anyone that wants a particular product can pull their phone, take a picture of the QR code and pay. The merchant is notified and delivers the tracking receipt to the system so the user is notified that their goods are on the way.
• Loyalty point management - Air miles, Xbox game tokens, grocery store points, credit card points, any consumer reward system can be managed and traded traded within our system. Integration is simple yet robust.
• Asset vetting and representation - We can represent an asset digitally in our system for trading. An example would be a diamond miner has geological reports of diamonds on their properties, but they don't have the cash to extract them. After vetting and underwriting, we can forge the asset in our system which gets recorded on the blockchain as an ERC20 token, after which trading can commence.