START PROCEDURE
First understand that every person collects data on his phone that is necessary for him to prove that the coins he received are legitimate. These are the Self-Sovereign Identity cards as shown in §4.1 and the blockchains of all people that he received coins from. The ID-Card is also what the user starts with. Before the user can start receiving his coins, he first needs to create an ID-Card that he can share with the other users he does transactions with. The filename of the ID-Card holds the hash of the ID-Card so it can easily be traced on the app and nobody will be able to change the ID-Card without changing the hash of it. This way users can check if the ID’s are valid.


BLOCKCHAIN
Each app will collect a large amount of blockchains (of all persons the user received coins from and paid coins to). The stability of our new financial system depends on the comparison of the parts of the blockchains that should be mutually shared and should be equal. If the software that checks this (that we named “the Sentinel”) finds irregularities, the receiver of the coins can simply dismiss the coins, and when others do similarly, these disputed coins will eventually depreciate to zero. This is the reason for collecting all these ID-cards and blockchains. The ID-Cards are named with the 64-character hash plus .png added. The blockchains are also named with the 64-character hash but add .txt to it.


INITIAL STRING

• The initial string starts with the name of the person, followed by a separator “|”, and the birthday, followed by a separator “|”, the birth-hour of the person, then the timestamp of the mutation of this file, also followed by a separator “|”,
• The ID-Code of the person (=also the filename), followed by a line-separator “<”,

TRANSACTION STRING

• You see a “S” or “R” followed by the ID-Code of the person you do a transaction with. “S” means that this transaction-partner is Sending the coins. With “R” it means that this transaction-partner is Receiving the coins, again followed by a separator “|”. The ID-Code is the 64-Character Hash or is just the number of appearance in the blockchain, if this ID-Code was already used in the blockchain. This is to keep the blockchain small. When people update their ID-Card, the new ID-Card hash will be added here as well.
• The timestamp. The time is UCT (Coordinated Universal Time). In the blockchain it however looks like this: “2202:5959999” where the part before “:” is the “transaction-hour”, which is the number of hours that have passed since January 1st, 2022 at 00:00. After the “:” sign you see MMSSmmm (where MM=minutes, SS=seconds and mmm=milliseconds), followed by a separator “|”.
• Next is the hash of the Security Image followed by the “|” separator.
• Then you see the payment amount that is pegged to the transaction-hour + separator “|”.
• Then you see a list of max 5 originators + “|” + and their payments, all separated with “|”.
• Next is the Hash of the entire blockchain until this point and is added to the blockchain + separator “<”

The transaction string repeats/grows with every new transaction.


DEALING WITH OTHERS
The next issue is what to copy from others? What is the necessary transaction data from others for the “Sentinel” (see next chapter) to check which coins are trustworthy?

To illustrate this, let’s look at an obvious “crime”. A person could create a fake account and transfer coins from that fake account to his own account. This means that you should reject any coins that come from a person that you don’t personally know. This means we can accept the self-created coins of people we do direct transactions with or we accept the coins of a person we do a transaction with, that are self-created by people we did previous direct transactions with. Later we can possibly expand “the Sentinel” and the collection of (parts of) blockchains of others to coins that are collected by people we trust very well. In the beginning it is better to stick to people that are very close to create a more solid trust in the system.

If there are irregularities then the receiver will obviously not accept the corrupted coins or abandon the entire transaction. It is up to the receiver if he will contact the third parties if the fraud has to do with their coins. It is also likely there will be more centralized organizations like the police or administration centers that will be asked to take a closer look at the fraud and help warning the community about the details of what has surfaced.

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