Updates on blockchain and wallet

README.md

@@ -27,9 +27,6 @@ Community Inclusion Currency (CIC) technology seeks to give organizations and co
    * Contract Deployment (Currency Creation service)
      * Currently: We currently deploy the Bancor Contract suite manually via Command line
      * Goal: Both a USSD based and a web based interface for organizations and communities to create their own tokens
- * Fiat On-ramp / off-ramp - In order to enable users and donors to interact with CICs we need a way to move fiat on and off the blockchain
-   * Currently: We currently move Fiat (USD/EUR) on an off the blockchains we use via exchanges such as BitCoinSwiss and local cryptos connected to Banks as well as eMoney
-   * Goal: To make credit card payments available and streamline our fiat to token processes
  * Cloud server - is where we host all of our systems, Platform, Dashboard, future blockchain node.  
    * Currently: We are using AWS for instances and data storgage
    * Goal: A cheaper alternative
@@ -45,11 +42,45 @@ Community Inclusion Currency (CIC) technology seeks to give organizations and co
  * CIC Management Platform 
      * Currently: System admins (GE staff) are able to assist users to reset pins, reverse transactions, create new users. The system is build on React and Flask in Python and uses postgres for data stroage.
      * Goal: Stabilization of the platform and synchronization
+ * Token Creation system
+     * Currently: Manual contract deployment (command line)
+     * Registered organizations can submit an application to be an issuer they must have
+        * an audited and legally binding backing commitment signed by local government to back the total amount of a CIC .
+        * A collateral fund of at 25% of the tokens they want to create. 
+        * This collateral can be pulled out of any CIC (such as those provided by an Aid CIC) or purchased
+ * Markeplace (Goods and services)
+     * currently: word of mouth
+     * A web based interface for organizations and communities to share projects, event offers and wants using CICs
  * Wallet:
-     * Currently: Users connect via USSD through AfricasTalking to connect with their wallet on the CIC Mgmt Platform, private keeps are held by Grassroots Economics for these phones
+     * Currently: Users connect via USSD through AfricasTalking to connect with their wallet on the CIC Mgmt Platform, private keys are held by Grassroots Economics for these phones
      * Goal: 
-       * A web based interface for organizations and communities to share offers and wants using CICs
+       * WebApp 
-       *  Adding social pin recovery
+       * Non custodial
+       * Social account recovery
+       * Cloud data storage (Swarm/IPFS) - opt in data, with an option sharing and for 3rd party validation
+       * Market Place linkages
+       * Auto-conversion – so you only have one (CIC) token (your community token) - all other tokens auto convert
+       * CIC aware 
+         * you can change your home token to another
+         * You can see the stats of any CIC you want to trade with or change to
+         * You can see the effect of cashing in and cashing out on the CIC
+       * Payment Rails
+         * Ability to add National currency (Mpesa) – in order to create/buy more CIC
+         * Ability to liquidate a CIC for National Currency (Mpesa)
+ * Fiat On-ramp / off-ramp - In order to enable users and donors to interact with CICs we need a way to move fiat on and off the blockchain
+   * Currently: the float account is in no way linked to blockchain and handeled manually (bank transfers)
+     * We currently move Fiat (USD/EUR) on an off the blockchains we use via exchanges such as BitCoinSwiss and local cryptos connected to Banks as well as eMoney
+     * You can send Mpesa (eMoney) to our lipa na Mpesa account – GE sees that and sends back tokens
+     * You can also send tokens to GE and GE sends back Mpesa from the float account (this is true in current state but very restricted)
+   * Goal: To make credit card payments available and streamline our fiat to token processes, blockchain integration
+   * Goal: As there is imbalance in the float account – Tokens can be burnt (xDAI extracted – bridged to DAI  (eg see xDAI.io) → converted to Eth and sold for KSH (BitcoinSuisse  ~2% fee)
+     * If there is too much KSH – we would send it to (BitcoinSuisse ~2% fee) to convert to Eth then make DAI with it and bridge to xDAI (eg see xDAI.io)
+     * The float account balancing would happen on a monthly cycle (ideally) – initially manual and eventually automated
+     * Exchange Rates will be variable based on the CIC → xDAI rate (depends on amount of collateral) Spot price: P  = 4R/S (R= reserve S = Supply) but they will also take into account FX fees.
+ * Blockchain interaction (once connected to xDAI reserves)
+   * Anyone who can obtain Eth or DAI can create xDAI and send it directly to any CIC converter blockchain contract. They will mint an amount of that CIC based on the bonding curve equation. 
+   * Anyone can also send a CIC to the same contract to liquidate it and pull out the xDAI and convert to DAI or ETH. Note that there are markets to cash out ETH in Kenya such as LocalCryptos as well but at high costs (~10%).
+   * Note that you can also buy Eth in Kenya with Mpesa on local cryptos and could convert it to xDAI then add it to a CIC reserve.
  * ID System - 
    * Currently: Each user has a sim card and the Telecom provides KYC services - users are asked a pin number to access the account on USSD 
    * Goal: Creating a more robust ID system for users without sim cards. Possibly adding brightID social ID  - like technologies