Real-time Settlement: Blockchain vs Traditional Banking

#!/usr/bin/env python3
"""ACH payment processing."""

import csv
from datetime import datetime, timedelta

class ACHProcessor:
    """Process ACH payments."""
    
    def __init__(self, bank_client):
        self.bank = bank_client
    
    def create_ach_entry(self, amount, receiver_account, 
                       receiver_routing, entry_class='PPD'):
        """Create ACH entry."""
        
        entry = {
            'record_type_code': '6',  # PPD
            'transaction_code': '22' if amount > 0 else '32',  # Credit/Debit
            'receiver_routing_number': receiver_routing,
            'receiver_account_number': receiver_account,
            'amount': int(amount * 100),  # In cents
            'individual_id': generate_individual_id(),
            'individual_name': '',  # To be filled
            'discretionary_data': '',
            'addenda_record_indicator': '0'
        }
        
        return entry
    
    def create_ach_file(self, entries, batch_header):
        """Create ACH file ( NACHA format)."""
        
        file_header = {
            'record_type_code': '1',
            'priority_code': '01',
            'immediate_destination': bank_routing_number,
            'immediate_origin': company_identification,
            'file_creation_date': datetime.now().strftime('%y%m%d'),
            'file_creation_time': datetime.now().strftime('%H%M'),
            'file_id_modifier': 'A',
            'record_size': '094',
            'blocking_factor': '10',
            'format_code': '1',
            'immediate_destination_name': 'FEDERAL RESERVE BANK',
            'immediate_origin_name': 'COMPANY NAME'
        }
        
        # Calculate entry hash
        entry_hash = sum(
            int(e['receiver_routing_number'][:8]) 
            for e in entries
        ) % 10**10
        
        batch_control = {
            'record_type_code': '8',
            'service_class_code': batch_header['service_class_code'],
            'entry_addenda_count': len(entries),
            'entry_hash': str(entry_hash).zfill(10),
            'total_debit': sum(e['amount'] for e in entries if e['amount'] > 0),
            'total_credit': sum(e['amount'] for e in entries if e['amount'] < 0),
            'company_identification': company_identification,
            'message_authentication_code': '',
            'originating_dfi_id': company_routing[:8],
            'batch_number': 1
        }
        
        return ACHFile(file_header, batch_header, entries, batch_control)

#!/usr/bin env python3
"""FedNow instant payment integration."""

class FedNowProcessor:
    """Process FedNow instant payments."""
    
    def __init__(self, config):
        self.api_url = config['fednow_api_url']
        self.client = create_client(config)
    
    def create_payment(self, sender, receiver, amount, reference):
        """Create FedNow payment."""
        
        request = {
            'messageType': 'Payment',
            'messageMetaData': {
                'creationDateTime': datetime.utcnow().isoformat(),
                'endToEndIdentification': reference
            },
            'creditTransferTransactionInformation': {
                'amount': {
                    'amount': str(amount),
                    'currency': 'USD'
                },
                'creditorAccount': {
                    'accountNumber': receiver['account_number'],
                    'accountType': receiver.get('account_type', 'Checking'),
                    'routingNumber': receiver['routing_number']
                },
                'creditorName': receiver['name'],
                'remittanceInformation': {
                    'unstructured': f'Payment ref: {reference}'
                }
            },
            'debtorAccount': {
                'accountNumber': sender['account_number'],
                'accountType': sender.get('account_type', 'Checking'),
                'routingNumber': sender['routing_number']
            },
            'debtorName': sender['name']
        }
        
        response = self.client.post('/payments', request)
        
        return PaymentResponse(
            payment_id=response['paymentId'],
            status=response['transactionStatus'],
            status_reason=response.get('statusReason'),
            settlement_time=response.get('settlementDateTime')
        )
    
    def get_payment_status(self, payment_id):
        """Get payment status."""
        
        response = self.client.get(f'/payments/{payment_id}')
        
        return PaymentStatus(
            payment_id=payment_id,
            status=response['transactionStatus'],
            status_reason=response.get('statusReason'),
            completion_date_time=response.get('completionDateTime')
        )

#!/usr/bin/env python3
"""Blockchain payment settlement."""

import eth_abi
from web3 import Web3

class BlockchainSettler:
    """Settle payments on blockchain."""
    
    def __init__(self, rpc_url, private_key):
        self.w3 = Web3(Web3.HTTPProvider(rpc_url))
        self.account = self.w3.eth.account.from_key(private_key)
    
    def settle_usdc(self, to_address, amount):
        """Settle USDC payment."""
        
        # USDC contract on Ethereum
        usdc_address = '0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48'
        
        # Encode transfer function
        data = eth_abi.encode(
            ['address', 'uint256'],
            [to_address, amount * 10**6]  # USDC has 6 decimals
        )
        
        # Build transaction
        tx = {
            'from': self.account.address,
            'to': usdc_address,
            'value': 0,
            'data': data,
            'gas': 65000,
            'gasPrice': self.w3.eth.gas_price,
            'nonce': self.w3.eth.get_transaction_count(self.account.address),
            'chainId': 1
        }
        
        # Sign and send
        signed_tx = self.account.sign_transaction(tx)
        tx_hash = self.w3.eth.send_raw_transaction(signed_tx.rawTransaction)
        
        # Wait for confirmation
        receipt = self.w3.eth.wait_for_transaction_receipt(tx_hash)
        
        return {
            'tx_hash': tx_hash.hex(),
            'block_number': receipt['blockNumber'],
            'status': 'confirmed' if receipt['status'] == 1 else 'failed',
            'gas_used': receipt['gasUsed']
        }
    
    def verify_settlement(self, tx_hash, expected_amount):
        """Verify blockchain settlement."""
        
        receipt = self.w3.eth.get_transaction_receipt(tx_hash)
        
        if receipt['status'] != 1:
            return {'verified': False, 'reason': 'Transaction failed'}
        
        # Check block confirmations
        current_block = self.w3.eth.block_number
        confirmations = current_block - receipt['blockNumber']
        
        if confirmations < 12:
            return {
                'verified': False, 
                'reason': f'Only {confirmations} confirmations'
            }
        
        return {
            'verified': True,
            'confirmations': confirmations,
            'block_number': receipt['blockNumber']
        }

#!/usr/bin/env python3
"""Hybrid settlement system."""

class HybridSettlementEngine:
    """Route payments to optimal settlement method."""
    
    def __init__(self, config):
        self.ach = ACHProcessor(config['ach'])
        self.fednow = FedNowProcessor(config['fednow'])
        self.blockchain = BlockchainSettler(config['blockchain'])
    
    def select_settlement_method(self, payment):
        """Select optimal settlement method."""
        
        # Decision logic
        if payment.amount < 10000 and payment.currency == 'USD':
            # Use FedNow for instant
            if self.fednow.is_available():
                return 'fednow'
        
        if payment.amount < 100000 and payment.is_business_day:
            # Use ACH for cost efficiency
            return 'ach'
        
        if payment.currency != 'USD':
            # Use blockchain for cross-border
            return 'blockchain'
        
        return 'ach'
    
    def settle_payment(self, payment):
        """Execute payment with selected method."""
        
        method = self.select_settlement_method(payment)
        
        if method == 'fednow':
            return self.fednow.create_payment(
                payment.sender,
                payment.receiver,
                payment.amount,
                payment.reference
            )
        elif method == 'ach':
            return self.ach.create_batch_payment(payment)
        elif method == 'blockchain':
            return self.blockchain.settle_usdc(
                payment.receiver_address,
                payment.amount
            )
        
        raise ValueError(f"Unknown settlement method: {method}")