TODAQ Press

TODAQ welcomes Mulesoft Public Sector CTO and Red Hat alumni DAvid Egts to the TODAQ Advisory Board. David brings a wealth of experience and insight, particularly for the open sourcing of the TODA file technology.

Two TODAQ cloud hosted digital twins transact with user interaction through the Twin web clients. Alice will pay Bob $10 in TODA file bearer cash. Alice possesses and has control of four TODA file bearer cash assets that total $309.00 in value. The bearer cash files internally hold their own proof of integrity which includes the issuer proof, the current owner - Alice, as well as their unique quantity among other elements. Alice's digital twin first splits off a unique $10 bearer cash file out of one of the larger bearer cash files. (TODA files that internally hold a quantity can fractionate). Alice's digital twin then transfers control of that new $10 file to Bob's twin. NOTE that $10 bearer cash TODA file is still in the Alice digital twin's possession, transferring control in TODA is distinct from sending the file. Imagine a simplified, artificial example to drive this home: Alice possesses a paper property deed that is in her file cabinet. Alice owns the property deed because her name is listed as the owner. Alice transfers control of the paper deed by putting line over her name and writing in Bob's name as the new owner. Bob is the owner but doesn't possess the deed yet, so Alice sends the paper deed to Bob. So the final action is the new $10 file will be sent from Alice's digital Twin to Bob's digital twin. Bob's digital twin will verify the integrity proof of the new $10 file that it has received as well as its control of the file, and then add that new value to its total balance. The network load is minimal - almost zero. Alice's digital twin does the vast majority of the computation work. In order to complete the integrity proofs and transfer of control, Alice's digital twin will transmit a couple of cryptographic hashes through the TODA distributed graph architecture and receive a couple of cryptographic hashes back which is integrated into the internal cryptographic structure of the bearer cash files to complete their integrity proofs. Bob's digital twin can verify the $10 file it receives entirely locally, this action does not require network effort. For all effective purposes, TODA files replicate how physical cash and goods transactions work and eliminate well over 95% of the processing and third party fees to settle transactions. Because the computation and messaging effort is all on the Edge using the systems and devices of the transacting counter parties, and because any type of asset can be expressed as a TODA file; there is really no limit to how large this can scale.

Please watch the TODAQ Digital Twin $10 bearer cash payment demo first if you have not yet at: https://rumble.com/v1yt3oo-replicate-physical-cash-with-todaq-digital-twin-bearer-cash-payment.html Digital micropayments have not been possible at scale because of payment processing and settlement friction (e.g., $0.10-0.30 interchange fees and 1-2% payment processing cost). With intermediary fees making a payment of under a dollar is not economical. Existing solutions that remove payment processing fees make up that cost by either charging the merchant, or selling your data without consent and not giving you a cut. There are three huge unserved micropayments markets 1) Consumer micropayments for those that want to purchase without a subscription lock-in. 2) B2B Cloud P2P payments - the public cloud is $500 billion market of software programs requesting micro-services from each other through API...now software programs getting micro-services for P2P micropayments is possible. 3) Major companies is large integrated ecosystems and marketplaces can take advantage of TODA bearer cash payments to increase customer convenience and significantly reduce costs and back office overhead. Alice's digital twin sends a $0.25 micropayment to Bob's digital twin. Rather than send the $0.25 bearer cash file through the twin transaction channel after control has been passed to Bob, Alice chooses not to. Once the integrity proof for transfer of control of the new $0.25 bearer cash TODA file is complete, Alice downloads the file to her computer. The bearer cash file can be sent to Bob any way Alice chooses. In this example the file is attached to an email and sent to Bob. On receiving the email Bob can download the $0.02 bearer cash TODA file and upload it into his digital twin. TODA file assets are truly portable and give portable control with integrity to asset owners. Asset owners no longer need to rely on specific digital platforms or transaction channels to access and manage their assets, or to trade with others.

The TODA open source javascript implementation has a Command Line Interface tool (search 'todajs' on NPM) that allows for low level creation, updating, verification and transfer of TODA files. The video shows how TODA files can be created locally with strong ownership control, and transfer of control and transactions of assets are truly P2P with a very efficient network load. In order to complete the integrity proofs and transfer of control, The sender will transmit a couple of cryptographic hashes through the TODA distributed graph architecture and receive a couple of cryptographic hashes back which is integrated into the internal cryptographic structure of the TODA file to complete its integrity proofs. The receiver can verify the TODA file it receives entirely locally, this action does not require network effort. Additionally the receiver as the new owner can verify control of the TODA file asset For all effective purposes, TODA files replicate how physical cash and goods transactions work and eliminate well over 95% of the processing and third party fees to settle transactions. Because the computation and messaging effort is all on the Edge using the systems and devices of the transacting counter parties, and because any type of asset can be expressed as a TODA file; there is really no limit to how large this can scale. This video is for functionality and demonstration purposes only! The CLI tool is for low level developer shell operations only. Application developers (and, certainly, users) should never deal with raw TODA cryptographic structures in this manner. Applications are built out of higher level constructs, using provided libraries and APIs. This simple video demonstrates creating assets which do not have significant application components: all asset payloads/cargo remain up to the application developer to create and assess.