The S2PE system is the world’s first system of its kind. It is an offline and semi-off chain digital economic system, where a dedicated-to-financial purpose device (s2pecard) acts as a validating and carrier element to perform the digital currency transaction. The sophisticated firmware architecture, cryptographic communications (peer-to-peer & peer-to-machine) and the compact form factor of the device offers a high degree of security that is needed for a cashless economy to go offline.
The technology that could facilitate withdrawing and depositing money (digitally) , and favoring offline transactions by holding the money digitally, emulating the paper cash. The technology for financial purposes, operating basically in offline mode reduces the cost of transactions and the cost of third party services for the user, and also improves cyber security by restricted and encrypted communication.
> Minimal Infrastructure > Monitoring transaction
> Independent of Smart Phones > Independent of place and currency
> No need for Physical cash > Highly Secure & Simple way of payment
> 90% Less maintenance compared to contemporary financial teller systems > Automatic e-Ledger maintenance
It is an application that maintains the transaction data, both online- bank to an individual, bank to bank, individual to the bank, individual to an enterprise and offline- hand to hand. It acts as a ledger bank that provides privacy to individuals, whilst allowing the controlling body (Bank or the like financial institution) to monitor the money flow and its authenticity and security. It also allows the creation and maintenance of S2PeATMs.
Backend application that facilitates creation and maintainenance of digital ATMs (S2Pe ATMs), assigning Money into S2Pe ATMs, tracking and monitoring offline transactions happened on S2Pe Card.
Key Features:
• Cashless Digital ATMs (S2Pe ATM) • Bank Monetary Maintenance
• Amount Clearance • E-commerce
• Ledger Maintenance • Digital Transaction Maintenance
• Tracking & Monitoring Transactions • Managing Amount digitally (Account holder)
• Report Generation • Messaging
The S2PeATM is basically any device that is connected to the internet. It acts as a bridge to perform online transactions- to and from S2PeCard. The S2PeATM application is executed on a device (PC, Smartphone or Tablet) connected to the WAN, from the S2PeCard.
The S2PeATMs are basically any device that is connected to the internet. It acts as a bridge to perform online transactions- to and from S2PeCard. The S2PeATM application is executed on a device (PC, Smartphone or Tablet) connected to the WAN, from the S2PeCard. It bridges online transactions.
Key Features:
• Tracking transaction.
• Manage your account.
• Balance checking.
• Transactional Data Logging to ELBS.
• Transaction on go anywhere.
The money from digital ATM is dispensed to a hardware digital wallet (S2PeCard)-a non-mobile electronic device that basically makes offline transactions. The S2PeCard is a hardware wallet that holds money and plastic cards digitally. It facilitates contact less payments at all kinds of POS machines using NFC and WiMT (Wireless Magnetic data Transmission, a home developed technology for communicating with magnetic stripe readers), and offline hand2hand transactions using NFC or VLC (visible light communication).
The S2PeCard gets connected to S2PeATM and the account holder shall make Withdrawals and Deposits. And the transaction thus happened is archived in ELBSys.
S2PeCard to S2PeCard performs offline transaction using shortrange communication technology. Thus made transactions are archived in ELBSys when the devices are connected to S2PeATMs
S2PeATM also facilitates the e-commerce and distant S2PeCard-to-S2PeCard. The transactions are archived in ELBSys
The contemporary cashless economic systems are in great need of costly infrastructural developments. Whereas the S2Pe system is way quicker and cost effective in implementation than the contemporary systems
The accessibility, availability, and operability of an S2PeATM is much better than the contemporary ATM systems. Also establishment and maintenance of the these ATMs is cheap in comparison with the contemporary ATMs
The ELBS application via S2PeATM facilitates bank to S2PeCard & viceversa, intra bank, inter bank and international transactions easy and quick.
Offilne transactions on S2PeCard happen through a short-range(10cm<) communication thereby avoiding evesdropping. The transactional data is multi-level encrypted. The device validates the value by a unique digital auditing protocol.
