Transcript KARMA: A Secure Economic Framework for Peer-to

Decentralized
Multi-Currency Banking using
Secure Overlay Networks
Presented by: Jon Allen
Mentor: Dr. Jeffrey Donahoo
Background
•
•
•
•
Centralized online banking
Cost of centralized online banking
Security of online banking
Economic factors
Karma
• Decentralized banking solution
• Build on Secure Overlay Network
• Trust by quorum
Problem Addressed
• Extend Karma to allow for multiple
currencies
• Use the existing Secure Overlay Networks
to provide the transport
• Any user can create a currency
• Let the market drive valuation
Implementation
• No public implementation of Karma
available
• Flexible to allow other integration
• Modify Karma to allow for multiple
currencies
Common API
• Interface to secure overlay networks
• Addresses basic functionality
requirements
• Simplifies transitioning to other
networks
Pastry
• One of the first Secure Overlay
Network implementations
• Open source and written in Java
• Includes simulator to allow for
extensive testing
Final Contributions
• A publicly available implementation of
Karma written to the Common API
• Extending Karma to provide for multiple
currencies
• Advantage of multi-currency
Questions?