Quasar is an open-standards, distributed, permissioned blockchain-based electronic cash system with built-in rules to fulfil regulatory and compliance guidelines. It enables instant, irreversible digital cash payments between enterprises, people and devices in the Internet of Things, compliant with regulations. Quasar is based on Quantoz´ innovative multi-purpose wallet issuing model and can be applied for many use cases, such as extending legacy systems of financial services.
Quasar users have two types of accounts: blue accounts that are connected to a regulated service provider or bank, and red accounts that can be freely created.
Quasar nodes are run by regulated service providers or banks that operate two more types of accounts with additional compliance options: green for the providers and white for the system operator.
The different wallets have different rights regarding the creation and closure of wallets and balance limits.