The Javvy Protocol serves as the underlying processes by which Javvy works quickly and effectively to provide ID Verification, an automated cross-currency exchange, and liquidity for cryptocurrency/token order fulfillment.
Overview of Registration and Rapid ID Verification Process Javvy requires no registration to send, receive, convert, or manage assets.
When using advanced features, such as buying and selling crypto with FIAT (national currency), purchasing tokens in an ICO/STO, or an international debit card; Javvy offers a streamlined process for user verification to be able to scale quickly to a growing userbase while complying with KYC/AML regulation. Fig. 1 - Rapid ID Verification Process Rapid ID Verification Process
• Users are not required to verify ID to perform send, receive, and convert transactions • Users attempting to perform regulated transactions initiate the ID verification process • Geo-location technology is used to help prevent unauthorized access and fraud Whenever a geo-location mismatch occurs against the user’s stated citizenship, it is logged and counts against the ‘trust score’ assigned to the ID verification • The system performs rapid ID verification of the supplied credentials, when possible • If rapid ID verification is not possible, the application is flagged for manual review • If verification is unsuccessful, the registration is declined with a detailed report • The user may submit further credentials with an explanation for review • The user may also request a manual review • If verified, the account is authorized to allow the user to conduct regulated transactions Overview of Automated FIAT-to-Crypto Exchange Process
Javvy received a patent pending (#62543097) for a provisional patent that covers the process and methodology for the automatic, bi-directional conversion of supported national currencies and cryptocurrencies. The novelty of this process is that it is distributed, fully automated, and ties into legacy banking system technology utilizing current banking APIs. Existing providers are limited by the amount of reserves held as deposits needed to clear these transaction types, which impede their ability to scale their customer-base. The Javvy Solution overcomes the issue by providing a clear, fully-scalable path to buying and selling cryptocurrency easily, eliminating the need for massive cryptocurrency reserves.
![img](zn9tscv4k4o21 "Figure 2 - Overview of Automated FIAT-to-CRYPTO EXCHANGE Process ") FIAT-to-CRYPTO EXCHANGE Process
• User places an order to exchange crypto and FIAT (national currency) • Peer nodes validate the transaction via network confirmations • If Javvy received a sell order, we check the OFAC list for the transaction details • If a match is found, the system cancels the order and flags the account for review • Otherwise, peer nodes periodically check for sufficient blockchain confirmations • If confirmed, initiate wire transfer to user • Otherwise, the order will eventually be cleared from the order book • If Javvy received a buy order, we check a crypto OFAC for the wallet address • If a match is found, the system cancels the order and flags the account for review • Otherwise, we periodically check for bank notification that funds have cleared • If the funds clear, with associated memo details, crypto transfer is initiated • Otherwise, the order will eventually be cleared from the order book Overview of Cross-Currency Exchange
Javvy received a patent pending (#62558597) for a provisional patent that covers the process and methodology for conversion and settlement of cryptocurrency purchases, using an intermediary layer, the Javvy token (JVY), for the purpose of eliminating the need for holding disparate, volatile cryptocurrency reserves. This is a drastic improvement over current crypto exchanges that merely offer one (1) or two (2) cryptocurrencies (typically, bitcoin and Ethereum) to their users, due to the reserve limitation and extreme value risk. In contrast, by using this intermediary interchange process, Javvy will instantly be positioned to support nearly every major cryptocurrency in existence. Javvy users will be able to buy, sell, use, and manage them all, with the underlying framework remaining transparent from a user perspective.
![img](tckcyxfek4o21 "Figure 3 - Overview of Cross-Currency Exchange ") Details of the Intermediary Layer Interchange Process
for Handling Crypto or TOKEN Fulfillment • User places an order to buy or sell cryptocurrency • When possible, orders will default to fulfillment through conversion of the JAVVY token (JVY), negating the need for Javvy to store massive crypto reserves • If possible, perform fullfilment trade from existing token liquidity • Otherwise, perform marketplace crypto/token trade to fulfill order • Complete user order for desired crypto/token (Figure 2) Liquidity Explained
When a buy/sell order is placed, the Javvy wallet will securely connect to Javvy’s servers to nearly instantly poll all open order books, arbitraging prices across decentralized exchanges and partner centralized exchanges that support 3rdparty orders via an open API. Unless all crypto exchanges fail, Javvy will not provide its own centralized exchange component, as we believe that markets can be, and should be, decentralized. There are already several quality decentralized exchange projects and others that are working to provide liquidity and custodial services. So, Javvy supports those movements and will work with them to offer the best-in-class services to its users. While cryptocurrency liquidity is being ramped up in the markets, we will work with trusted liquidity providers to help place orders that cannot be filled elsewhere. https://javvy.com/?v=ebe021079e5a https://javvy.com/wp-content/uploads/2017/09/javvy_crypto-solution-white-paper.pdf
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