Participants and Roles

In scope of this document we will operate on such terms as participants and roles. Let’s begin with a definition of them to avoid confusion:

1. Participant – is an individual or an entity that may have a certain role in the system;

2. Role – is a distinguishing set of properties that defines the capabilities available to a participant.

There are three types of participants, namely:

1. Issuer – is the party responsible for issuing and managing the digital currency on-chain. A good example of an issuer is the Central Bank of a country.

2. Entity – is the type of participant that represents a legal entity.

3. Individual – is the type of participant who represents a natural person.

From the perspective of function within the system, there are two roles that are supported by the sendme Protocol:

1. Validator – is responsible for verification and ongoing monitoring of properties associated with entities or individuals.

2. Merchant – provides services or sells goods in a retail or wholesale model.

Due to the distributed nature of the system, any wallet may participate in the Protocol provided it complies with the rules that the Compliance Processor enforces. Further sections of the document provide a more detailed description of the roles and participants.