DRS

Blockchain is a payment system that is secure, instant, global, transparent, immutable, and programmable.

• Forward-only timestamped database secured by math.
• Fedwire or ATM on your phone.
• All-to-all bond trading system.
• RTGS money or security transfer system except instead of being behind a Chase Bank or Visa, its on your phone.
• Public Google Sheet file that is readable, writable, accessible for free to anyone with an internet connection.

Excel spreadsheeet. Ethereum L1 = xlsx file, L2 = worksheet

Blockchain is a payment system that is secure, instant, zero-fee, 24/7/365, global, transparent, and immutable.

• Reduced yield spreads by 25 bps (BIS)
• Enhanced liquidity by 5.3% (HKMA)
• Cost savings of 35-65% across settlement value chain (Digital Asset)
• Up to $5 billion in cost savings for equity post-trading (Digital Asset)
• Reduce investment bank costs by $12 billion a year (Accenture)

A crypto wallet is the same thing as your physical wallet.

• Bank account except instead of being secured by a 4 digit pin, its secured by a 256 digit pin.
• Internet version of your physical wallet.
• Like your Venmo or debit card account.
• A cell in an Excel spreadsheet.

A digital dollar or “token” usable anywhere the internet is as means of payment where 1 token = 1 USD.

• USD on the internet. Physical, fiat paper bills in your pocket, on your phone.
• Digital p2p transferable money market mutual fund where 1 token = 1 share = 1 USD.
• Transferable unit of account recorded on a database called a blockchain.
• Like airline miles, hotel points, casino chips

Stablecoins are used in the same way as a holder would use USD, whether to send and receive payments, acquire and trade assets, or simply to hold USD to use in the future.

Instant zero-fee global 24/7/365 payments

• Prefunded = no credit risk
• Atomic transfers = no float
• Blockchain redundancy = always online
• Direct wallet-to-wallet = no middlemen

A CBDC is a digital form of central bank money that is widely available to the general public. It is a digital liability of a central bank.

A way of consolidating or reconciling multiple payments between two or more parties to create a single amount due to each participant. It simplifies doing business and reduces risk.

Netting refers to the consolidation of multiple financial obligations or payments into a single net amount. By strategically offsetting positive and negative positions, netting reduces the total number and value of payments involved as well as their associated settlement risks.

Example: Party A is due to receive USD 75,000 from Party B. At the same time, Party B is due to receive USD 30,000 from Party A. Instead of Party B paying USD 75,000 to Party A and Party A paying USD 30,000 to Party B in two separate transactions (called gross settlement), the payments can be netted. That way Party A owes nothing, and Party B pays Party A USD 45,000.

• Reduction of credit risk
• Reduction of settlement risk
• Reduction of liquidity risk
• Reduction of systemic risk

• Payment netting
• Novation netting
• Close-out netting
• Multilateral netting

• Lower costs for all parties
• Reduce manual data entry and file uploads
• Automate and speed processing of matching and netting transactions
• Increase security through encryption and tamper-evident distributed ledger technology
• Provide transparency and enhance trust with permissioned access to transaction data

All DRS units are operate in a very similar way as other fiat-backed stablecoins like USDC or USDP. Primary Users (those who have an account with DRS) can mint and redeem USDX (for example) at $1. Both Primary and Secondary users can freely transfer their units, deposit it into smart contracts, and interact with any protocol that is compatible with the ERC20 standard.

Tokens rebase daily, accruing new tokens regardless of where the yield-bearing unit is held.

The mechanism of rebasing modifies the balanceOf via a rewardMultiplier.

For more details, refer to the documentation here.

BITNET is basically a big computer program that takes in buy and sell orders from lots of sources and matches them up when ever possible. It also ha a number of ways that is displays the open orders to the out side world with the intent of soliciting someone else to enter a matching order.

BITNET is an size agnostic execution system that brings simplicity to the complex world of stock trading. It operates as a perfect auction market, were buy and sell orders are universally displayed and matches happen fairy, instantly, and efficiently.

Click here to find out more about BITNET, the execution system designed to be the fastest, cheapest, most reliable damn limit order book around. If your broker is not putting your limit orders into BITNET (or another compliant ECN) you probably should learn why you'd want him too.

Programmatic multi-asset composability. Offline digital payments. Use stocks, bonds, real estate to buy groceries.

BITNET improves:

1. Operational risk mitigation through standardization and automation
2. Intraday liquidity
3. Post-trade FX matching and netting processes

BITNET reduces:

1. Funding and number of payments required
2. Inconsistent FX matching and FX netting
3. Credit consumption
4. Intraday overdraft costs and correspondent bank charges
5. Communication required to confirm positions pre-settlement

For a number of regulatory reasons, retail investors can not enter orders directly into the BITNET system yet. Instead, a retail investor would typicaly give the order to their broker who would in turn enter it into BITNET.