Accessible Version
Using Distributed Ledger Technology for Payment Directories, Accessible Data
Figure 1. Stylized process flow for payment alias directory in a payment transaction
Figure 1 shows a stylized process flow where a payer initiates a transaction with a payment service provider (PSP). The payer’s PSP looks to a payment alias directory to obtain routing information. The payer’s PSP then appends the transaction with the payment information and sends the transaction to the appropriate payment system. Once the receiving PSP receives payment, funds are credited to the payee account.
Figure 2. Stylized process flow for queries to B2B e-invoice registry
Figure 2 shows a stylized process for queries to a B2B e-invoice registry. A business sends an invoice to a customer through its access point. The access point looks up which service metadata publisher has the target customer delivery data through a service metadata location provider. The SMP data will allow the business’s access point to connect with its customer’s access point. The customer’s access point forwards the e-invoice to the customer.
Figure 3. Traditional vs distributed ledger
Figure 3 shows how a traditional ledger compares to a distributed ledger. The first diagram is of a traditional ledger and shows four computers sending information to a central computer and a central ledger. The second diagram is of a distributed ledger and shows four computers inputting information onto a network with each computer managing its own ledger. All four ledgers are synchronized to each other.
Note: The distributed ledger diagram is modified from CPMI (2017).
Figure 4. Stylized process flows for a payment alias non-fungible token on a blockchain
Figure 4 shows two stylized process flow for a payment alias nonfungible token on a blockchain. The first flow adds a payment alias to a blockchain. In this example, a node issues a smart contract to mint an NFT for a new payment alias. The smart contract creates the NFT, which is added to the blockchain and tied to a specific account. The second flow allows for the lookup of a payment alias. A node issues a smart contract to lookup alias information. The smart contract pings the associated NFT on blockchain for the information.