FedCoin is a digital currency issued by a central bank and hedged one to one with their fiat currency. Digitalizing fiat currency using blockchain has several benefits, such as enabling easy cross-border payments, saving reconciliation efforts, and so on.
Let's build some digitalized INR and USD on two different blockchain networks. Then, let's create some atomic swap contracts to enable the exchange of these currencies between banks atomically. This use case would require you to create two different Quorum networks using IBFT consensus. In each network there is one authority, which is the central bank, and N number of peers, which are other banks. So, you can assume that in the first network, the Federal Reserve System (FRS) is the authority and Bank of America (BOA) and ICICI banks are the peers. Similarly, in the second network,...
