ZODIAQ PLATFORM : FINANCIAL BLOCKCHAIN PLATFORM

Good day everyone,i would be writing about the ZODIAQ PLATOFRM like i introduced the last time,click on this link in order to have an overview of it https://steemit.com/blockchain/@adelekejustin01/introduction-to-zodiaq-platform-blockchain-platform-for-the-implementation-of-settlement-guarantee-and-clearing-operations .Today i would be writing further on the following;
A) PRODUCTS OF THE SYSTEM
B) CRYPTOCURRENCY EXCHANGE ZODIAQ EXCHANGE

PRODUCTS OF THE SYSTEM

Ecosystem of a classic bank is the first stage of implementation of our project. In this version, all operational
accounting will be implemented in a typical centralized banking information system (BIS).
At the moment, the personal account of any bank user enables logging and performing the following typical
actions:
• creating accounts in fiat-currencies: USD and EUR
• creating wallets: BTC and ETH
• transfers in fiat-currency between users (P2P)
• transfer in crypto-currencies between users (P2P)
• crypto-fiat exchange p2p between users
• purchase and sale of crypto-currency for the user
• crediting and debiting fiat-currencies
• crediting and debiting crypto

At the moment, the personal account of the bank user has already implemented the opportunity
to register and perform the following typical actions:
• Creation of accounts in USD and EUR
• Creating wallets: BTC and ETH
• Transfer in the currency between users (P2P)
• Transfer in crypto-currencies between users (P2P)
• Crypto-fiat P2P exchange between users.
• Purchase and sale of crypto currency.
• Deposit and withdrarwal of fiat currency.
• Deposit and withdrarwal of crypto currency.

It is important to understand that such functions are currently a demo version of the system and cannot be
used as a working tool.
The user works in his/her personal account. Its interface is presented below.
Solving these tasks will bring the project to a competitive market of the banking segment. At this stage,
ZODIAQ is a centralized information system.

At the next stage of the project, ZODIAQ, following the provisions of the second payment directive of EU
(PSD2), will unite representatives of the banking segment. Two key tools of the new platform: Payment
Initiation Services Provider (PISP) and Account Information Service Providers (AISP), will be developed and
introduced.
Functions of API services are as follows:
• drawing, certification and transfer of orders for transfer of funds;
• data analysis and providing information on the client’s personal finances, recommendations for more
effective management of savings, etc.;
• providing information to third parties (for example, in order to assess the borrower’s solvency).
Using services of its own banking service, which will be actively developed at this stage, ZODIAQ will be one
of the world’s first to perform operational testing of PSD2 formalized provisions and introduce new protocols.
Banks and other financial services connected to the Zodiaq platform will have to compete with each other.
To conquest more customers, they will offer our users the lowest rates and bonuses.

The world’s banking system and, in particular, ZODIAQ team are seeking this option.
At this stage of implementation, the core of the bank becomes digital and goes online. The bank becomes
decentralized. As a result, any payment agents begin to communicate with each other. Blockchain-platforms,
banks and payment services could be examples of such agents.
At this stage, everything around the decentralized blockchain-platform is transformed into API channel.
The core of the bank acquires tools for integration with any kinds of payment agents. In addition, both
individuals and legal entities could be the clients of the platform.
In the course of this implementation, the payment block-platform could replace SWIFT completely. However,
it is clear that SWIFT will remain the biggest player in the financial market for a long time, so we can use it
for integration as well.

CRYPTOCURRENCY EXCHANGE ZODIAQ EXCHANGE

Zodiaq Crypto-Currency Exchange, abbreviated ZodEX, is a part of Zodiaq project and is an important
infrastructure element.
Own crypto-exchange is extremely necessary for proper functioning of the ecosystem for a number of
reasons:
• its own exchange will reduce the bank’s dependence on third-party exchanges, their rules and
restrictions, for example, remove the restriction on the amount of transfer, expand the number of currency
links;
• the ability to establish rules, cost and conditions for working with digital assets and crypto-currencies;
• control over its own funds and funds of clients of ZODIAQ project in circulation at the stock exchange;
• reducing the rate and market value of transactions for any operations within the contour of ZODIAQ
system and beyond;
• rapid conversion of crypto-currencies into fiat-currencies;
• convenient and intuitive interface, suitable even for beginners in the exchange environment.
To solve these issues, ZODIAQ decided to create its own exchange.
At the moment, there is a wide spread of prices on the operations with crypto-currency, which may reach
20% in some cases.
For the end user (the client of the exchange), it is quite difficult to solve the task of reducing the cost of
operations himself/herself, since one shall simultaneously perform a price analysis on several exchanges in
order to choose the optimal rate for the transaction. One shall have accounts on every exchange with funds
available to be ready to perform an operation in case of a suitable price.
To solve this issue, ZODIAQ has developed an algorithm that takes exchange rates from 15 main exchanges,
analyzes and offers the best price for the transaction.
For a user of our exchange, it is sufficient to go through five steps:
• log in;
• credit some money;
• make an application for currency exchange;
• wait for the best rate offer to be provided by ZODIAQ system. This course will be based on instant
analysis of current exchange rates (in particular, ZodEX’s own exchange will participate in the selection on
general terms,);
• debiting of money.
The exchange process will look like this:
• the user makes a transaction for purchase or sale of crypto-currencies via the interface, the Automated
Banking System (ABS) forms a request, on the basis thereof a special script is linked via API (internal
protocols) to the exchange servers where accounts are opened, and requests data at current exchange
rates. After that, the script returns the received data to the system, where a special algorithm analyzes all
received data and chooses the most profitable rate for the transaction, which is offered to the client;
• then, if the user confirms the transaction rate, ABS sends a command to the exchange that has
provided the best rate to debit the funds from the account of the bank opened at the exchange to the wallet
of the client and debits the funds from the client’s account;
• as the bank first settles with the client on the transactions from its own reserves, the transaction rate
is reduced and the issue of insufficient liquidity on some exchanges is being solved;
• in its turn, the bank replenishes its own foreign exchange reserves purchasing additional currency at
the exchange or off-market;
• if, at the time of the transaction, the bank lacks liquidity for a particular item, the bank may purchase
the missing amount of currency directly from the exchange, or use a part of the funds from its own foreign
exchange reserves to secure the transaction.
Normally it takes some time for any operations via the exchange. In our case, the transfer of funds within one
account will be a matter of seconds.

Having exchanged money on ZodEX exchange, their client may immediately send it to his own bank card,
his bank account, make a money transfer to the specified details, or receive it in cash at the cash desk of a
partner bank located in your country.
A preliminary list of countries, where offices of partner banks are open, where cash withdrawals and deposits
are available: