Web3 Blockchain

We are all familiar with the "crypto" moniker and Bitcoin, but the real advance is in the Distributed Ledger technology and consensus driven governance of new emerging operational structures.

Web3 means, decentralised (no government or corporate control) shared control, by all users. Concesus driven, Ethereum recently changed from Proof of Work to Proof of Stake, under run-time conditions, a real achievement for a consensus future.

Byzantine Fault Tolerant (BFT) - meaning embraces all objectives, intent and prejudices, yet maintains integrity.

Mandatory on-chain resolution of all conflicts and disputes. ISDA also achieves this Web3 objective.

Ethereum is the best example of an engineered blockchain ecosystem which allows sharing across many projects and businness models. The ERC20 smart contract allows the USDTether stablecoin and the synthetic stablecoin Ethena, to co-habit on a high-integrity Web3 space. TT5 also shares this space.

Banking systems inhabit High-Reliability cloud space (10E-9), but aviation grade is considerably higher at (10E-12) ULTRA-HIRel. Blockchain core, as run in the Cloud, also achieves Ultra-HiRel. Unfortunnately, the whole ecosystem around blockchain is very low grade (10E-6).

The TT5 blockchain, established on the Ethereum ecosystem, uses multiple ERC20 contracts, running in parallel to achieve Ultra-HiRel, aviation grade. Performance is limited to 10 miutes inbound and 2 days outbound. This is appropriate as TT5 is a collateral and global trade index, focused on currency risk mitigation, not an execution or remittance system. After the ICCO round, the TT5 will move to a fully integrated Ultra-HiRel duplex, blockchain Mainnet.