UFO = Open Source Theory

Internet : Digital World
Bitcoin : P2P Currency
Ethereum : SmartContract

UFO : Universal Financial Oracle to do Universal Financial Transaction.

Wherever you Go for All Online Service or Offline Service that Adopts UFO Code, Financial Transaction can be made in Any Fiat Currency or Any CryptoCurrency without Intermediary.

This Memo is Open Source Call for All Coder All Around the World, because I don't have Capacity as Coder,but Theoretically is Possible.

Financial Transactions will be Truly without Intermediary.
No more Necessity of Payment Gateway,Point-of-Sale ( POS ) Systems, RTGS, Exchanger, Privacy Breach

Will continue this Theory in this Post Comments

Comments 3

We are closer to this Theory because now we already have below Technology :

  • User Controlled Wallet ( Metamask/Opera/Mobile Wallet )
  • Web 3.0 + Blockchain Hub ( Side Chain Modular Framework Similar Cosmos.Network )
    Parjar.Io Bot is some kind of off-chain wallet to send tokens to other people, via Telegram Messenger.

I try to simplified this Theory into Imagery :
Parjar Bot ( off-chain wallet ) + Telegram Messenger
UFO Hub ( on-chain transaction with Side Chain Booster ) + Web 3.0

But for make all kind of transaction UFO Hub need more diversification Command as needed.
Command Example :
Ex :
/tip 100 Ticker @UFO Domain
This use case scenario can be done in Group Chat,Personal Chat,Comment Section,Reply Section,Donation Section,Tipping Section ( On messenger,social network,personal blog,gov.site,any site that adopts UFO Hub.

B.Can Trade P2P Automatically
( Automatically Executed when both party already input Command ,there is no necessity of escrow or UFO Hub as a Escrow : I don’t know which one is easier 😊
Trade Example :
User X input Command : /trade 1 ETH = 0.01 BTC @Y
User Y input Command : /trade 0.01 BTC = 1 ETH @ X
This Scenario can be done in Group Chat,Personal Chat,Comment Section,Reply Section,Donation Section,Tipping Section ( On messenger,social network,personal blog,gov.site,private site,any site that adopts UFO Hub.

C.In the Multi Person Chat/Group/Site can send Rewards Package for 1 person or more and for desired multi person.
Ex : User A or platform owner send package to the Multi Person Chat/Group/Site with Command :
With Command :
/package 100 Ticker @B @C @D @E means automatically divided equal within these User = 25 each
Or with Command :
/package 100 Ticker @divide10
@10 means automatically divided equal for 10 user who claim first,so each user can claim 10
How to Claim Random Package ?
Reply the Package Command text with new Command or input Command :

D.Buy everything on the Web 3.0.
Use case is same as Web 2.0
Web 3.0 Differences is on check out done by Sign Transaction.

E.Subscription :
Use case is same as Web 2.0
Web 3.0 Differences is on check out done by Sign Transaction.

F.Deposit / Withdraw / Transfer :
Use case is same as Web 2.0
These transaction can be done with or without UFO Domain.
Normal blockchain procedure is sign transaction without validates the recipient address first before executed the transaction like conventional atm transfer or digital money transfer ( ACH Validation ‘Automated Clearing House’ ), even the recipient address is wrong,transaction still can be executed and irreversible,high risks of lost transaction.
UFO theory hope is to eliminate of lost transaction.

G.Redeem / Voucher / CashBack / Account Discount:
Use case is same as Web 2.0
Web 3.0 Differences is on check out done by Sign Transaction.

H.Send :
Same use case and scenario with /tip ,the different only the transaction type to differentiate purposes.
Ex :
/send 100 Ticker @UFO Domain

Note : All user UFO Hub have UFO Domain which is a human-readable address and also can synchronize all the different blockchain addresses of the domain owner.
Command Explanation :
/ Funct as Command
tip , trade , package , send Funct as Transaction Type
= Funct as Equal
@ Funct as Domain Address
Divide Funct as Divider Value Command

KYC & AML Policy will be explain in next Article ( From SAKS Expansion )

14.08.2019 09:25

Volatility & Network Congestion & Unfix Miner Fee is one of the Barriers to Mass Adoption
Allow me to introduce the Theory below to the Blockchain Community
Universal Finance Oracle Theory Proposal :

Simplified Imagery Scenario :

Conventional Finance :
Bank ( ATM / Credit / Debit Card ) + Fintech ( for MicroPayment )
Real World Scenario :
People received their monthly Salary or likely Payed into their Bank Account,Cash out into Paper money or transferred into Fintech Payment Account for MicroPayment Transaction.
Conclusion :
Conventional Bank funct as Main Address for Savings + Deposit + Withdraw + Transfer Money.
People trust Banks as their main place to store Liquidity Assets, but Banks are not Comfortable enough to Conduct Micro Payment Transactions, therefore FinTech Payments are needed to Cover this GAP

Decentralized Finance :
All Different Independent Blockchain with or without UFO Extra Layer + UFO User Controlled Wallet
Decentralized Finance Scenario :
People puts EFFORT to Exchange their Fiat money into Crypto Currency simply because
People Trust Blockchain as a Conventional Bank Substitute in Decentralized Way.
With this Technology they hope can make Peer to Peer Payments without Intermediaries,better speed,low fees,and be able to choose transparently/anonymous/ pseudonymous transaction,or simply invest into Crypto Currency as a Store of Value.
However, the current Blockchain Implementation has not Exceeded all the Benefits of Non Blockchain, especially Micro Payment Transaction.

Conclusion :
Blockchain Funct as Conventional Bank Substitute in Decentralized Way.
Each BlockChain has Unique Source Code for Unique Purposes that’s why hard to Interconnect them All,Therefore UFO are needed to Bridging all BlockChain.

What is UFO ?
( UFO similar to Fintech Payments and Origin BlockChain as a Bank )
UFO Act as User Controlled Multi Currency Wallet,User can do Multi Currency Internal ( UFO ) On-Chain Transaction.It is mean every UFO On-Chain Transaction is without CryptoCurrency Origin BlockChain Confirmation.
UFO similar to Custodial Wallet of Exchanger but Transaction is On-Chain ( Public Visibility on UFO BlockChain,even for Monero ) and Decentralized Way.
( As a Decentralized Custodial Wallet, Nodes are incentivized By Stacking CryptoCurrency.This Network Income can subsidize miner/transaction/tx fee on UFO Blockchain )
Stacking means Less Volatility.
UFO User also can make P2P Exchange On-Chain,or transfer with Domain ( Human Readable Address )
Market-Place and E-Commerce Transaction Payment is Highly Possible with On-Chain Instant Exchange Market with Transparent and Low Fee Exchange Cost.
( Scenario : User X have 0.007 BTC & 77.000 AKA Coin and wants to purchase a Lunch.Which is priced based on Fiat Money.User X just choose the Currency that he/she had & wants to use first to pay that lunch.UFO Wallet will automatically convert and show the convert rate result to ask User Confirmation.
No exchange fee but have tx fee on convert & buy lunch transaction )
( UFO will also have Web 3.0 Compliant E-Commerce / MarketPlace Website that can accesed by UFO Wallet that Comply with Web3 Wallet + QR Code Scanner for Merchant Payment )

Who is UFO :
UFO as Extra Blockchain Modular Framework for every BlockChain (similar to SWIFT ) but in Decentralized Way and More Function Ability.
UFO Adopts Delegate Proof of Stake Consensus and Owned by Entire Blockchain.
( Delegate by every Sovereign / Interconnect BlockChain )
UFO Nodes are represented all different BlockChain that Compliant with UFO or Provided Extra Layer that Compliant with UFO Source Code.

16.08.2019 09:28

Authentic Pseudonym

Origin Existence ➡️Authentic Pseudonym Address ➡️Sole Public Address

X.Proof of Existence :

All Citizen is Digitally Record By Government and All Citizen have Citizenship Registration Number.
This is how Government Digitally Validates Citizen and Globally Acknowledged.

One Citizenship Registration Number ( Cannot be seen Publicly ) will have a Sole Blockchain Pair Address ( Can be seen Publicly )

This Linkage cannot be seen Publicly.
To Acquiring Linkage Information will have to seek Law Granted.

Sole Blockchain Pair Address is Paired/Linked to Sole Public Address.
The Government will make a Public Directory List of Valid Paired Public Address so that a Sole Public Address can be Validated by the Public.

Sole Blockchain Pair Address is Citizenship Proof of Existence.

Y.Proof Of Blockchain Address Validity :

Every Citizen have Right to Register their Sole Public Address ( Generated by Citizen on User Controlled Wallet ) to Claim Sole Blockchain Pair Address ( Generated by Government System ) in order to be Pseudonym yet Authentically.

Sole Public Address is Equipped with one Back-Up Address ( only funct as Back-Up ) that Requiring a Multi Signature ( Blood Relation ) Sole Public Address to Register new Sole Public Address.
New Registered Sole Public Address will be Recorded on the Public Directory List and Old Address is No Longer Valid .
If both address lost then Citizen will have to register manually on Government Office.

Z.Sole Public Address Implementation :

Sole Public Address Unlock Login is done by User Controlled Wallet into Digital World ( Web3 ) as Sole Entity,where Entity Duplication is Nearly Impossible.
Data Exchange for Additional Information is totally under User Consent which is Authentic & Valid, verified by Government.

Conclusion :
Similar to Ethereum ERC 725/735 and Trusted Third Party is Government funct as Sole Blockchain Pair Address Claim Issuer and Wallet Web3 for Unlock Login

Why Government have to be the Trusted Third Party Claim Issuer ?
Because in Order to be Fully Met KYC & AML Policy is Validated by Government as a Origin Identity Publisher but still under Pseudonym.

However this Scenario can be happen only at Crypto Friendly Country, otherwise need other Private Company or International Non Profit Organization as a Trusted Third Party Claim Issuer

17.08.2019 02:33