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Demonstration

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Please consider instruction from the scenarios below for best understanding of the PoC.

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Transfer a Payment Instruction to the network

Scenario 1 : Create a Payment Instruction from Red Bank

Introduction

Once Red Bank received multiple payment orders from their clients, it has to send Payment Instruction to the network.

In this scenario, Red Bank transfers a Payment Instruction to the concerned Clearing House by using the blockchain.

Click this icon to create your first payment Instruction :

Create a Payment Instruction

Red bank must fill in the Create Payment Instruction Form :

Emitter : Bank_Red
Payment Network : SEPA or SWIFT
Payment Instruction File to be hashed
Handler : Clearing_House

You cannot create a payment twice with the same file, the principle of storing the checksum in the chaincode allows to preserve the uniqueness of each transaction.

Emitter and Handler must be different.

Result - Success

Red Bank has to Send the Create Payment Instruction Form. The Payment Instruction File will be hashed by the Smart-Contract to be stored on the blockchain. Once the hash generated, the Payment Instruction is stored in the blockchain with status set to "SEND".

Red Bank receives a confirmation that is Payment Instruction has been submitted. The transaction containing the Payment Instruction is now on the ledger.

Result - Error

Reason 1: Emitter and Handler must be different.

Reason 2 : The same file has ever been uploaded previously.

Scenario 2 : Update Payment Instructions from Clearing House

Introduction

In this scenario, Clearing House receives Payment Instructions from concerned Banks and changes the status of the Payment Instruction by using the blockchain.

Click this icon to upate Payment Instruction :

Monitor and Update

Clearing House can monitor and check every received Payment Instructions which it involved in.

Clearing House can choose a Payment Instruction and change its status to VALIDATED, CORRUPTED or CUSTOMED STATUS :

VALIDATED means that the Payment Instruction is received and validated by the Clearing House.
CORRUPTED means that the Payment Instruction is received but unvalidate whatever the reason.
CUSTOMED STATUS means that Clearing House can custom the status for a specific reason (flexibility solution)

Result -Validate (Status 1)

Then, by clicking the "VALIDATE" button, Clearing House transfers a new transaction containing the updated Payment Instruction to the ledger. The initial Emitter of the Payment Instruction will be notified of the change.

Result - Corrupt (Status 2)

By clicking the "CORRUPT" button, Clearing House transfers a new transaction containing the updated Payment Instruction to the ledger. The initial Emitter of the Payment Instruction will be notified that the Payment Instruction is corrupted.

Result - Custom Status (Status 3)

In future version, it will be possible to custom status of the updated transaction for specific use cases.

Scenario 3 : Create a Payment Instruction from Clearing House

Introduction

After an internal payment process called Clearing and Settlement mechanism, Clearing House has to dispatch new Payment Instructions to the network.

In this scenario, Clearing House transfers a Payment Instruction to the concerned Bank by using the blockchain.

Click this icon to create your first payment Instruction :

Clearing House must fill in the Create Payment Instruction Form :

Emitter : Clearing_House
Payment Network : SEPA or SWIFT
Payment Instruction File to be hashed
Handler : Bank_Red

You cannot create a payment twice with the same file, the principle of storing the checksum in the chaincode allows to preserve the uniqueness of each transaction.

Emitter and Handler must be different.

Result -Success

Clearing House has to Send the Create Payment Instruction Form. The Payment Instruction File will be hashed by the Smart-Contract to be stored on the blockchain. Once the hash generated , the Payment Instruction is stored in the blockchain with status set to "SEND".

Red Bank receives a confirmation that is Payment Instruction has been submitted. The transaction containing the Payment Instruction is now on the ledger.

Result - Error

Reason 1: Emitter and Handler must be different.

Reason 2 : The same file has ever been uploaded previously.

Scenario 4 : Update Payment Instructions from Bank

Introduction

In this scenario, Red Bank receives Payment Instructions from concerned Clearing House and changes the status of the Payment Instruction by using the blockchain.

Click this icon to upate Payment Instruction :

Monitor and Update

Red Bank can monitor and check every received Payment Instructions which it involved in.

It choose a Payment Instruction and change its status to VALIDATED, CORRUPTED, or CUSTOMED STATUS

VALIDATED means that the Payment Instruction is received and validated by the Clearing House.
CORRUPTED means that the Payment Instruction is received but unvalidate whatever the reason.
CUSTOMED STATUS means that Clearing House can custom the status for a specific reason (flexibility solution)

Result - Validate (Status 1)

Then, by clicking the "VALIDATE" button, Red Bank transfers a new transaction containing the updated Payment Instruction to the ledger. The initial Emitter of the Payment Instruction will be notified of the change.

Result - Corrupted (Status 2)

By clicking the "CORRUPT" button, Red Bank transfers a new transaction containing the updated Payment Instruction to the ledger. The initial Emitter of the Payment Instruction will be notified that the Payment Instruction is corrupted.

Result - Custom Status (Status 3)

In future version, it will be possible to custom status of the updated transaction for specific use cases.

Scenario 5 : Audit

Introduction

In this scenario, Regulator can audit Payment Instructions from all Participants.

Click the History icon to verify each Transaction Payment Instruction :

The history allows you to view the list of payments with their status. Select a user to view his payment list. You can see the issue of the payment and the date of its change of status.

The Regulator does not belong to the same institution and has an auditor role. It has the right to consult all payments.

In addition, you can directly download the SEPA / SWIFT payment file, which uses the download extension.

Other functionality

STATS

You can visualize blockchain statistics by clicking on :

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