Working with the Wallets Service on the Alliance Business Suite

Wallets across the Alliance Business Suite are designed to serve several purposes depending on the server's configuration.

At a high level, Wallets are accounts are related to an Account Holder or a Contact Record. These accounts are then used to create a unified network where transactions are possible in any direction within these three types of records.

Wallet Accounts serve the purpose of storing and transacting value across said networks, enabling customers to easily create commercial and financial services ready to grow and scale.

Wallet accounts are also related to an Accounting Account, which is a group of accounting records used to produce Accounting and Financial Reports.

Transactions across Wallets

Transactions across Wallets serve the purpose of transferring value amounts across the network. On each transaction, there are at least two Wallet Accounts involved. A transaction starts with a Wallet Owner (either an Account Holder, a Business Tenant, or a Contact Record) defining an amount and a destination account registered to their wallet.

Upon proper Waller Decryption (which might require re-authentication), the transaction will be processed and signed by the Alliance Business Platform using dynamically generated signing keys.

Multi-Currency Support

Because of the Alliance Business Suite's multi-currency capability, transactions across wallets are made on United States Dollars, but transaction amounts and logs are always historically exchanged using conversion rate snapshots to display and balance the exact conversion rates as of the Transaction's timestamp.

This is convenient for accounting purposes as well as to provide a great experience to end-users, allowing them to input and view amounts on their preferred currency without having to perform any conversions themselves.

Understanding Contact Wallets

Contact Wallets are Regular Wallet Accounts that instead of being related to an Account Holder or a Business Tenant, are related to a Contact Record on the CRM Section of the Alliance Business Model.

This might seem odd, given that to either a B2B or a B2C Scenario, only two types of wallets are required: A Business-Related Wallet and a Customer-Related Wallet. So, what's the purpose of Contact Wallets?

Like Social Profiles, Contact Wallets are designed to Allow Customers to create their own multi-tenant business applications through the Wallet services on top of the Alliance Business Suite, simplifying the process of creating Financial Applications ready for Web 3.0.

Understanding CryptoWallets

CryptoWallets is the name of the functionality that allows each Wallet Account to interact with any number of BlockChains. Each Waller Account is assigned by the Alliance Business platform with an Ethereum Address. This Ethereum Address uniquely identifies a Wallet Account across any ABS BlockChain. This enables customers to create services such as crypto-currencies and exchanges, NFT marketplaces, apps (distributed/decentralized applications), and even their own Web 3.0 & metaverse-enabled experiences.

Connecting a Wallet to MetaMask

Through the Alliance Business Studio, Wallet Owners can connect their Wallet Accounts to MetaMask. To do this, head to the wallet configuration and click on the "Connect to MetaMask" button, then open MetaMask on your browser toolbar, click on your avatar and select "Import Account".

Copy your Wallet's Private Key and paste it into Metamask, or scan the QR Code using MetaMask Mobile.

Once your Wallet Identifier has been linked to MetaMask, click on the "Finish Connection" button to finalize the synchronization.

Troubleshooting Wallets