Federated Blockchains and the Financecloud API
Matthias Klees, October 24th, 2017
Since last year, the team behind Europecoin, has been developing the FINANCECLOUD API (a protocol to launch financial and crypto services on). This product will be accompanied by a cloud-device for the home network.Matthias Klees:
This cloud-device gives access to services, via a simple app store and enables easy crypto handling, trading and point-of-sales integration. It aims to make cryptocurrencies more accessible, easy and secure, whilst keeping the user in control.
"Think of all these great innovations around us like cross-chain transactions and smart contracts. You will notice none of them have managed to transform into a mainstream product for non-crypto users. New users are even challenged to understand things like exchanges and payment processes."The solution for users
A pre-configured, hardware encrypted device for your home network. Users can plug it into their router and choose coins, exchanges and services from the app-store. Users can access all these innovations via one unified interface, without having to know about the technology behind it. You will be able to switch from "user mode" to "professional-mode" to do advanced operations.The solution for merchants and traders
The device will come with a pre-configured online-shop, that enables you to accept over one hundred cryptocurrencies via our payment gateway. Exchanges can then be made to conventional fiat currencies and vice versa. Merchants will be able to stick with their system of choice by just plugging in our device to their network.
For traders, it’s possible to see most exchanges under one single interface which they can choose from via the app-store. Traders will also find extended trade intelligence solutions and automation functions for cryptocurrencies, assets and Forex via the Expert Advisor Plattform.The solution for developers
The app-store works in a hardware encrypted container inside of a cloud network of the user device. It provides an app-wizard, that generates a HTML5-App-Skeleton from any given service API, with a single push of a button. A version-control with github integration helps you manage the software. In that way, any financial service can hook easily into our cloud and reach users.The solution for the industries
The API comes with a Java and Python interface, that can connect to point-of-sales systems and other business software interfaces. A cloud-to-cloud federation protocol enables businesses to connect their teams and to do financial collaboration on a project by project basis.The device
Our Hardware Manager, Olaf Breuer is the ‘Makers Award’ winner 2017. He currently works at IBM Watson Lab in Germany. Our first prototype has been developed, to explain the idea to our potential investors. Development is now accelerating. Our Initial “demo model” was based on a Raspberry PI. We are poised to finish the layout for our own circuit board, with hardware encryption chip inside. Our hardware development team is located in Portugal, where Olaf has his lab for electronic engineering and 3d-printing.Looking forward
Next year, the team will launch a fundraising ("ICO"). They developed an a.i. trading intelligence with a forex bot which they intend to integrate into the ERC Financecloud API. The fundraising will contribute to the development of a distributed computing cloud on a blockchain system. This is the point where things get interesting.
Find out more about the Financecloud API here