Micropayments for API Services and Autonomous Systems
| Reference number | |
| Coordinator | Strawpay AB |
| Funding from Vinnova | SEK 500 000 |
| Project duration | May 2016 - November 2016 |
| Status | Completed |
Purpose and goal
The purpose of the project was to further develop Strawpay´s innovative realtime electronic paymentmethod. A new special type of transaction was designed for services provided over APIs or in contexts where autonomous system exchange services. The goal was firstly to improve the IP position with rights encompassing developed soultions, secondly, develop and demonstrate the new type of bundle-signed transactions, and thirdly to investigate the structure and actors in the API-services sector.
Expected results and effects
The project has demonstrated that the new technology with bundle-signed transactions work and that it can further lower system cost by 10-100 times, specifically for APIs or contexts where autonomous entities exchange services. We have strengthend the IP position of the company and also investigated actors in the API-sector. To conclude, the result of the project improves our position with a unique solution with potentially very broad application in the future.
Planned approach and implementation
The work progressed to a large extent according to the plan for the project. Some delays came from unexpected work the was required to complete the project, e.g. adjustmets had to be made in open source libraries external to the project.