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The Open-Transactions project is a collaborative effort to develop a robust, commercial-grade, fully-featured, free-software toolkit implementing the OTX protocol as well as a full-strength financial cryptography library , API, GUI, command-line interface, and prototype notary server. The project is managed by a worldwide community of volunteers that use the Internet to communicate, plan, and develop the Open-Transactions toolkit and its related documentation.
Financial cryptography means using using strong cryptographic techniques to create secure financial instruments, such as digital signing to create non-repudiable contracts, and encryption to create untraceable digital cash. In OT, transactions are unforgeable, receipts are destructible, and balances cannot be falsified or changed without user consent. OT is able to prove all balances, as well as which instruments are valid, and which transactions have closed, without storing any history except the last sign
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