Fortis-ámyna-smart contract model for cross border financial transactions

Abstract

A Futuristic Operating transactions Reaching beyond Territorial borders In blockchain Smart contract model (Fortis-ámyna) for cross border transactions in a quantum setting is proposed. A simple hybrid classical-quantum model has been described whose main ingredients are a classical blockchain capable of handling stateful smart contracts with quantum defence. This hybrid payment model uses quantum states as bank transactions and a classical blockchain to settle disputes and keep track of the valid reference numbers. The proposed model fortis ámyna has several desirable properties like de-centralized, requiring no trust in any single entity; Quick payments as quantum communication, regardless of the total number of users to speed up the transactions. In addition, fortis ámyna handles the situation in lighting speed in quantum bank-transaction if failed or has error due to connectivity, helping the initiator to track back the transaction from origin. This fortis ámyna model has tremendous advantages regarding speed, security, and authentication, guarding against quantum breaches. Ensuring more authenticity to customers and creating by linking a Distinct (De-Centralized) Identifier with blockchain’s current transaction state eventually leads to the updated digital ledger.

Keywords

• Blockchain
• Cross border transactions
• Smart contract
• Quantum cryptography