Introducing TCAP infrastructure protocol: Helping MSMEs to access credit
Trustless Capital is on a mission to build a decentralised and democratised protocol for MSME lending ecosystem by connecting lenders and debt marketplaces and allowing them to create innovative credit fund products and services on top of it.
This article will describe the technological architecture of the entire Trustless Capital ecosystem known as TCAP Ecosystem.
Introduction
TCAP ecosystem protocol is being built to provide an open and end-to-end solution to enable real-world assets such as invoices, warehouse receipts, letter of credits etc. to gain access to financing. TCAP ecosystem protocol will provide businesses around the world to access finance using initial version of NFT Lending and Borrowing Smart Contract Protocol, Substrate based TCAP blockchain, on chain identity management and P2P Document and Information Management Protocol.
TCAP Blockchain
TCAP blockchain is substrate based blockchain platform and initially it would bridge to Solana Blockchain. Solana is a high-performance blockchain supporting builders around the world creating crypto apps that scale today.
Applications built on top of TCAP blockchain will be able to easily tap in to Polkadot ecosystem by connecting to other Polkadot ecosystem blockchains in an interoperable fashion.
The blockchain will open a gateway for real world assets, such as invoices, letter of credits etc., where they can be tokenized as Non-Fungible Tokens and will be collateralized to access finance.
Ethereum or its side chains work well for low volume (or low throughput) of high value transactions. However, the high throughput or volume transactions specific use cases would need a different approach so that the involved stakeholders such as MSMEs, large corporation alike, should not pay very high transaction fee. Moreover, these stakeholders would never want a platform where privacy is by default not available.
P2P Information Collaboration Management (DICM)
Trust Less Capital delivers DLT enabled network that connects data providers and consumers. The decentralized network, underpinned by DCIM, allows parties to share accurate, auditable data in real-time. In the near future, multiple data providers and asset managers will share real time information on decentralized networks. Providers and consumers will opt in to provide their services and to gain access to the services on the network to automate workflows, expedite delivery and reduce risks.
By combining DIDs, IPFS, blockchain, and p2p networking, DCIM provides a secure, collaborative, distributed network for managing user and application data beyond the cloud. Firewalls only protect environments, but DCIM will protect and provide total control. End-to-end file-level security will stay with the documents for life, preventing unauthorized access to the information even when files are distributed outside the firewall. DCIM will also enable automatic tracking of activities such as file access and distribution, and manage individual permissions to view, edit, save or print — and when it’s time to revoke access to a document.
DCIM will provide options for defining your preferred level of information security and compliance. It will also help Banks and Financial Institutions meet regional and global data protection standards and allow them to “define their own perimeter” as business collaboration needs change in a more connected world.
Blockchain Identity Management
Participants will have a unique identifier in TCAP ecosystem. Identity management will be handled through smart contract deployed in public blockchain such as Solana. As part of identity management, the protocol will make sure that the any data associated with the identity is only modifiable by the creator and/or a delegate chosen by the identity creator.
TCAP Software Development Kit
The TCAP Software Development Kit (SDK) will provide a set of easy to use standardized tools and modules that will help the enterprises build supply chain finance applications as per their own requirements.
The SDK will also help in upgrading the existing and legacy supply chain financial systems on top of TCAP ecosystem.
Please contact us at hello@trustless.capital or visit our website https://trustless.capital for more detail.
