Zero-knowledge proof for identity authentication

Blockchain and smart contracts for value exchange

System Overview:

rat system: a platform based on blockchain and smart contracts, providing retail payment, loyalty rewards, peer-to-peer lending and other functions.

Multi-currency support: the system supports multiple currency layers, including fiat currency, cryptocurrency and ERC-20 tokens.

Retail payment function:

Cash change digitization: when customers use cash to pay at merchants, they can get change for digital currency in the rat mobile application wallet.

QR code payment: customers can pay by displaying QR code through the rat application, and the merchant will transfer money instantly after scanning.

Loyalty rewards and offers:

Loyalty rewards: customers can get exclusive loyalty rewards, discounts and cash back when they use the rat application to pay at alliance merchants.

Coupon management: rat wallet supports coupon and voucher management, and customers can use coupons when paying.

Peer-to-peer lending platform:

Lending market: rat application contains a lending market, which supports borrowers and lenders to conduct lending operations through smart contracts.

Loan condition matching: the system automatically matches the borrower's loan request and the loan conditions of the loan pool through smart contracts.

Collateral management: Borrowers can submit cryptocurrencies or physical assets as collateral, which is managed through smart contracts.

Blockchain architecture and smart contracts:

Extensible blockchain architecture: The system adopts an extensible blockchain architecture that can be linked to real-world applications and systems.

Smart contract interaction: Respond to real-world triggers and events through smart contracts to ensure the security and automation of transactions.

Multiple account types:

Customer accounts: Support customer, merchant administrator, and merchant operator account types to meet the needs of different roles.

Identity verification and credit rating: Record the identity information and credit rating of both borrowers and lenders through smart contracts to ensure the credibility of transactions.

Transaction fees and incentive mechanisms:

Transaction fees: Detailed description of transaction fees for operations such as buying and selling rat tokens and withdrawing to bank accounts.

Incentive mechanism: Encourage users to use the rat system for payments and lending through incentives such as loyalty points and cash back.

Global variable name system:

System architecture: Introduces the architecture of the global variable name system, including the registrar, registry, and resolver components.

Variable sharing: supports sharing global variables between smart contracts, and registers, updates and retrieves through the global variable name system.

Distributed message framework:

Publish/subscribe model: The Bulletin Board Messaging Framework (BBMF) is used to implement the publish/subscribe message model.

High throughput and low latency: BBMF is designed for high throughput and low latency messaging, supporting priority processing and message persistence.

User interface and interaction:

Mobile application interface: shows the user interface of the rat mobile application, including functions such as purchasing tokens, sending tokens, receiving tokens, paying at merchants, and lending operations.

Lending process: The example interface shows the lending process such as loan request, loan quotation, loan issuance and repayment.

The following are the short answer questions for the document "US20190228409A1":

What are the main functions of the rat system?

The rat system is a platform based on blockchain and smart contracts, which mainly provides retail payments, loyalty rewards, peer-to-peer lending and other functions.

How does the rat system support retail payments?

The rat system allows customers to digitize their change into digital currency in the rat mobile app wallet when they pay with cash at merchants. At the same time, customers can also display QR codes through the rat app to make payments, and merchants can transfer money instantly after scanning.

How does the peer-to-peer lending platform work in the rat system?

The peer-to-peer lending platform in the rat application allows borrowers and lenders to conduct lending operations through smart contracts. The system automatically matches borrowers' loan requests and loan conditions of loan pools through smart contracts, and manages collateral (such as cryptocurrencies or physical assets).

What are the characteristics of the blockchain architecture of the rat system?

The rat system adopts a scalable blockchain architecture that can be linked to real-world applications and systems. Respond to real-world triggers and events through smart contracts to ensure the security and automation of transactions.

What role does the Global Variable Name System (GVNS) play in the rat system?

The Global Variable Name System (GVNS) supports the sharing of global variables between smart contracts in the rat system. It includes registrar, registry, and parser components for the registration, update, and retrieval of global variables.

What is BBMF (Bulletin Board Messaging Framework)?

BBMF is a distributed messaging framework used in the rat system, which implements a publish/subscribe messaging model. It is designed for high throughput and low latency messaging, and supports priority processing and message persistence.

What main functions does the rat system's user interface display?

The rat mobile app's user interface displays the main functions of buying tokens, sending tokens, receiving tokens, paying at merchants, and lending operations. Through the sample interface, users can clearly see the lending process such as loan requests, loan quotations, loan issuance, and repayment.

How does the rat system handle transaction fees?

The rat system details the transaction fees for operations such as buying and selling rat tokens and withdrawing to bank accounts. Users need to pay the corresponding fees when using these functions.

How does the rat system incentivize users?

The rat system encourages users to use the rat system for payments and lending through incentives such as loyalty points and cash back. These incentives increase user stickiness and activity.

What types of accounts does the rat system support?

The rat system supports multiple account types such as customers, merchant administrators, and merchant operators to meet the needs of different roles. These account types have different permissions and functions in the system.