Page 29 - PROJECT KHOKHA 2

THE PROOF-OF-CONCEPT
Brief steps for porting wCBDC in a simplified example:
1. Bank 1 intends to buy debenture tokens and moves ZAR100 million in wCBDC to the ledger cession
wallet in the wCBDC Zone where it is frozen and cannot be used any longer in the wCBDC Zone.
2. The software bridge creates ZAR100 million worth of (ported) wCBDC in the cession wallet on the Khokha Hub allocated to Bank 1.
3. The software bridge moves ZAR100 million in (ported) wCBDC to Bank 1’s wallet on the Khokha Hub.
4. Bank 1 buys ZAR60 million worth of debenture tokens from the FMD. Transaction details are recorded on the Khokha Hub ledger as well as on the software bridge.
5. Bank 1 wants to import the remaining ZAR40 million of (ported) wCBDC back to the wCBDC Zone and initiates the process by moving the remaining balance back to the Khokha Hub ledger cession wallet.
6. The software bridge destroys ZAR40 million in (ported) wCBDC on the Khokha Hub cession wallet and unfreezes ZAR40 million in wCBDC on the wCBDC Zone ledger cession wallet.
7. The software bridge moves ZAR40 million of wCBDC from the wCBDC Zone cession wallet to Bank 1’s wallet on the wCBDC Zone.
8. FMD wants to import the ZAR60 million of (ported) wCBDC from the sale of debenture tokens to Bank 1 to the wCBDC Zone and initiates the process by moving it to the Khokha Hub ledger cession wallet.
9. The software bridge destroys ZAR60 million in (ported) wCBDC on the Khokha Hub cession wallet and unfreezes ZAR60 million in the wCBDC on the wCBDC Zone ledger cession wallet.
10. The bridge moves ZAR60 million of wCBDC from the wCBDC Zone cession wallet to the FMD’s wallet on the wCBDC Zone.
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