Technological Model for Cryptocurrency Payments in E-Commerce

Luis Navarro1 a
, Juan Mansilla-Lopez1 b
and Christian Cipriano2 c
1Universidad Peruana de Ciencias Aplicadas (UPC), Prolongación Primavera 2390, Monterrico,
Santiago de Surco, Lima, Perú
2Cranfield University, College Road Cranfield MK43 0AL, U.K.

Keywords: Blockchain, Cryptocurrencies, Payment Gateway, Bitcoin, Three-Tier Architecture.

Abstract: The number of cryptocurrency users worldwide increased by 190 % between 2018 and 2020, with Bitcoin
being the most widely used. Credit card gateways request the payment of a usage fee, a sales tax that generates
cost overruns for the businesses that use it. Likewise, virtual stores are exposed to cybersecurity threats, such
as SQL injection and man-in-the-middle, which could affect the integrity and confidentiality of their
information. This research proposes a Technological Model for Cryptocurrency payments based on a set of
guidelines to develop a virtual store that accepts Bitcoins as a payment method and offers measures that
guarantee the security of the integrity and confidentiality of its information. The structure of the model is
based on a three-Tier architecture pattern that includes a private Blockchain in which the information of the
sales made in the virtual store and of logistics (purchase orders, suppliers, and products) is stored. The model
was validated in an online business, evidencing a reduction in the percentage of transaction costs.

1 INTRODUCTION volume of small payments, this has caused problems

in the e-commerce market. This has led sellers and
The purchase of products and services through virtual consumers to take into consideration the fees
stores continues to gain popularity with an increase in associated with electronic payment systems.
sellers adopting cryptocurrencies as a means of According to (Cáceda et al., 2022), e-commerce in
payment for their sales (Sawarnkatat & Smanchat, Peru had a 55 % growth in 2021. In 2024, credit card
2022). Also, due to their integrity, confidentiality, and payment gateways, such as Culqi, Niubiz, and
transaction speed, cryptocurrencies have seen Mercado Pago, charge average fees of 3.40 % per
accelerated growth since the creation of Bitcoin transaction, in addition to other charges. On the other
(Gong & Huser, 2019). Thus, its users has grown by hand, cryptocurrency payment gateway services
190 % between 2018 and 2020 (Raynor, 2024). charge around 1 % per transaction, with no extra fees,
Online payment methods for e-commerce have as is the case with Blockonomics. According to
been constantly evolving since the birth of the (Sawarnkatat & Smanchat, 2022), one of the newest
Internet. Initially, this was provided by financial payment methods for digital merchants is with
services such as credit cards and fund transfers; cryptocurrencies. The latter are considered an
however, these are subject to regulations and alternative form of investment assets, as they have high
relatively high fees (Sawarnkatat & Smanchat, 2022). yields and are very secure. An example of this is
According to (Kim & Kim, 2022), most people (Bamert et al., 2013), who designed a vending machine
who purchase in virtual stores use credit cards. In that accepted bitcoins as a means of payment.
such cases, payment gateways are used to ensure the Regarding Cryptocurrency regulations in Peru,
integrity and non-repudiation of payments. However, digital asset providers are required to provide
nowadays, due to the increase in the number of credit information to the Peruvian Financial Intelligence
card terminals, changes in the types of tax deductions, Unit, which is in charge of analyzing payment
and the growing number of stores that process a large transactions to be able to detect money laundering or

a
https://orcid.org/0009-0007-0711-5782
b https://orcid.org/0000-0003-0039-6044
c
https://orcid.org/0000-0002-5864-658X

25
Navarro, L., Mansilla-Lopez, J. and Cipriano, C.
Technological Model for Cryptocurrency Payments in E-Commerce.
DOI: 10.5220/0012916800003825
Paper published under CC license (CC BY-NC-ND 4.0)
In Proceedings of the 20th International Conference on Web Information Systems and Technologies (WEBIST 2024), pages 25-34
ISBN: 978-989-758-718-4; ISSN: 2184-3252
Proceedings Copyright © 2024 by SCITEPRESS – Science and Technology Publications, Lda.
WEBIST 2024 - 20th International Conference on Web Information Systems and Technologies

terrorist financing (El Peruano, 2023). The This article is divided into five sections. Section 2
emergence of cryptocurrencies caused a change in the presents the literature review. Section 3 describes the
world and brought benefits, such as not needing proposed technological model. Section 4 validates
institutions to act as intermediaries, which reduces and analyzes the results. Finally, section 5 provides
transaction costs. Likewise, they are immutable; for the project's conclusions and recommendations.
example, if a bank is hacked, it will depend on its
backup to recover its information; however, in the
case of cryptocurrencies, if a part of its network is 2 RELATED WORK
altered, the rest of the network will continue to work
correctly (Fang et al., 2022). Blockchain has many uses that can be applied to
There are studies such as those by (Kim & Kim,
different contexts, such as medicine, e-commerce,
2022), who, by making use of blockchain features and social networks.
such as public keys, private keys, as well as digital
signatures, manage to develop a cryptocurrency
payment model that does not make use of a payment
2.1 Application of Blockchain in
gateway or public key certificates. However, there is Electronic Commerce
a risk that their Public Blockchain System of Record
for Distributed Transactions will compromise the (Miers et al., 2013) propose ZeroCoin, an electronic
confidentiality of personally identifiable data. Also, payment system that is a cryptographic extension of
there is the study of (Sawarnkatat & Smanchat, 2022), Bitcoin that augments the protocol to allow fully
who proposed a cryptocurrency payment system anonymous currency transactions.
called NAGA, which was characterized in that buyers (Sawarnkatat & Smanchat, 2022) propose a
paid with one type of cryptocurrency and sellers payment architecture of a system that allows the
received another. buyer to pay with a currency and the seller to receive
On the other hand, e-commerce information is not the currency of his choice.
free from having its confidentiality and integrity (Eskandari et al., 2018) developed a "point-of-sale"
compromised. According to (Ehikioya & Olukunle, web system that accepted Bitcoin and implemented it
2019), data in the different databases and those in in a Cafe called Aunja, in 2014. For its part, (Hu et al.,
transit must be protected from unauthorized persons, 2019), with the aim of helping remote villages,
such as hackers, who can alter the integrity and steal proposed a payment scheme based on the Ethereum
sensitive company information. blockchain, which can maintain a record of verifiable
According to (Tadhani et al.,2024), the SQL transactions in a distributed manner.
Injection (SQLi) attack type seeks to exploit the (Su et al., 2020) propose a p2p transaction method
vulnerability of databases by injecting harmful code based on blockchain, which in turn guarantees data
into queries, which compromises their confidentiality privacy and trust between entities. Likewise, a GO
and integrity. It does this by first attacking web programming language was used for validation.
applications by inserting code into the site's input (Kumar et al., 2020) propose "ProdChain", a
fields to access the database. There is also the Man- Blockchain framework with cryptographic processes
in-the-middle threat, which consists of the attacker to reduce the complexity of traceability of e-
managing to infiltrate the network and place himself commerce products and, in turn, ensure financial
in the communication between a client and a server sustainability.
(Elakrat & Jung, 2018). Thus, the attacker can listen (Zulfiqar et al., 2021), in order to maintain the
to the information and modify the information integrity of the information regarding the Reviews of
between the sender and the receiver. certain products on e-commerce platforms proposes
This research proposes a technological model for EthReview, a resilient Product Review system based
payment with cryptocurrencies in electronic stores on Ethereum that solves the integrity above problem.
that is secure and that allows for reducing transaction (Guan et al., 2020) propose a scheme that
costs in virtual stores. This consists of a set of integrates blockchain that seeks to solve the need to
guidelines for developing a virtual store that allows store and process sensitive data from e-commerce.
accepting cryptocurrency payments through a (Li et al., 2021), to solve the privacy and integrity
payment gateway called "Blockonomics". Likewise, problems of supplier reputation systems of e-
it will use KuroNexus, a private blockchain designed commerce platforms, propose RepChain, a reputation
by us to store sales and logistics information blockchain-based system that preserves privacy. In
(products, suppliers, purchase orders). addition, it allows access to multi-platform reputation
and the creation of private ratings.

26
 Technological Model for Cryptocurrency Payments in E-Commerce

To solve chargeback fraud, which consists of for the seller by integrating a cryptocurrency payment
canceling credit card payments, and which is harming method. It provides instructions for developing a
online sellers, (Liu & Lee, 2022) propose CF-Ledger, Blockchain structure, "KuroNexus," designed by us
an exchange mechanism of Chargeback fraud data to ensure the integrity of the sales and logistics data.
that is based on Consortium Blockchain. There are works like (Sawarnkatat & Smanchat,
2022) and (Miers et al., 2013) with their own
2.2 Application of Blockchain for designed payment systems; in our case, we wanted to
Privacy and Information Security contribute with a model that would allow the
implementation of an E-Commerce using a payment
(Makhdoom et al., 2020), due to the vulnerabilities gateway called "Blockonomics". Being an outsourced
regarding the information of IoT systems; propose service, this gateway reduces the risk of security and
"PrivySharing", an innovative framework based on regulatory compliance failures.
blockchain, preserves privacy and guarantees the
security of the transfer of IoT data in a Smart City 3.1 Architecture of the Technological
environment. Model
(Hinarejos et al., 2022), to solve security problems
in the application of promotional programs, propose 3.1.1 Architecture Pattern
a solution based on Blockchain that allows points to
be transferred between clients for multiple merchants. The technological model makes use of a Three-Tier
Due to privacy issues in "Online Social architecture pattern, which consists of decomposing
Networks", (Frimpong et al., 2023) propose the applications into three levels or layers so that each
RecGuard, a blockchain-based network system for one presents a different level of responsibility. The
privacy preservation. presentation layer is responsible for system
In the medical context, (Szczepaniuk & presentation, the business layer handles the business
Szczepaniuk, 2023) present a framework for logic and processes requests from the presentation
implementing cryptographic proofs of smart layer, finally, the data layer is responsible for data
contracts in health systems. According to (Gan et al., storage.
2023), with the growth of Electronic Medical Data, it
becomes a problem to find it efficiently in a 3.1.2 Technologies
Blockchain; due to the above, a method for searching
for encrypted medical data in a Blockchain with a The technologies used in the model will be described
mechanism is proposed. Likewise, (Miao et al., to justify their selection. These will be separated by
2024), to protect medical data on the "Internet of layers according to the architecture mentioned above.
Medical Things", propose a Privacy-Preserving For the presentation layer, we used:
Authentication Management Protocol based on
Blockchain. • Angular. According to (Oriols & Gomez, 2018),
(Luo et al., 2023), for its part propose RATS, a this framework allows web application
Blockchain-based system that protects the privacy of development in the client section using HTML
transactions in the Blockchain and regulates illegal and JavaScript. It allows the development of SPA
transactions. Likewise, this allows users to be tracked (Single Page Application) web applications. This
without affecting the transaction when dealings that is an improvement to Multi- Page Web
can be called suspicious are detected. Applications (MPA) in that the client will no
Likewise, (Aldweesh, 2023) proposes a longer request entire web pages but only the
framework for E-ticketing that makes use of necessary information. For the business layer, we
blockchain. This proposal eliminates the participation used:
of third parties and improves user privacy. • NodeJS. According to (Brown, 2014), NodeJS
provides a framework for building a web server.
This can be easy to implement and configure,
3 TECHNOLOGICAL MODEL unlike Apache or Microsoft's Internet
Information Services, which can take several
The technological model consists of guidelines for years to master. We decided to use it to develop
developing a virtual store to reduce transaction costs our APIs.

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Figure 1: Physical Architecture of the Technological Model.

• Cloudinary. This service helps to store 3.1.3 Architecture Description

images and videos thanks to an API. In addition,
it allows users to retrieve images thanks to URLs In Figure 1, you can see the technological model
with a static part and a variable part that would distributed by layers. In the presentation layer, the
be the name of the images. Angular file controls the visual part. In the business
• Culqi. This model includes a credit card payment layer, you will find the API: “Authentication”,
method, and for that, we use this payment responsible for processing information related to user
gateway. It was chosen because it charges a registration and login; and the API "Images",
commission rate of 3.44% plus extra charges and responsible for uploading images to the image server.
delivers the sales deposit about two days later. There is also KuroNexus, which consists of a
decentralized structure based on Hyperledger
• Blockonomics. It allows virtual stores to accept Fabric due to its use of channels and digital
payments with bitcoin. We decided to use it certificates for authentication. It is made up of the
because it charges only 1% commission per sale APIs: “CentralSales” and “CentralLogistics”, as well
and for its security features. as the "Logistics" and "Sales" channels.
The API “CentralSales” communicates with the APIs
For the data layer, we used:
of the Culqi and Blockonomics payment gateways to
• CouchDB. It is a NoSQL database that stores process information related to purchases. On the other
information in JSON documents. The latter hand, it also communicates with a channel "Sales" for
makes it immune to SQL injection attacks. In the storage and retrieval of information (related to
addition, it allows access to documents through customer sales) in blockchain nodes. The "Sales"
the web browser (Chrome, etc.). According to channel consists of 3 nodes, each containing an API
(Brown, 2012), it is fault tolerant and generally and a database instance, such as the APIs:
self-sufficient; likewise, its storage has a flexible “nodeSales” and the “Sales Instance”. The
nature format that differentiates it from other "Logistics" channel works similarly, only that the
databases. information you work with is related to products,
suppliers, and purchase orders.

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 Technological Model for Cryptocurrency Payments in E-Commerce

Figure 2: Central API - Information processing.

3.2 Development, Security and Hosting 3.3.1 KuroNexus Blockchain Module

Guidelines for APis and Databases
This Blockchain structure is based on the use of
3.2.1 API Hyperledger Fabric channels. It has 2 Central APIs:
“CentralSales” and “CentralLogistics”. Likewise, it
The APIs will be developed using node.js and will have 2 channels: “Sales Channel” and “Logistics
Express. API Keys will be implemented as a security Channel”. Next, what the Central APIs are, and their
measure. For the APIs: “CentralSales” and details will be defined, then what the channels are for
“CentralLogistics”, a digital certificate will be this module will be explained.
implemented as an additional authentication method • Central APIs. This structure contains 2 APIs:
so that they can be verified by the APIs of the “CentralLogistics” and “CentralSales”. These
channels assigned to them. Finally, the servers where are responsible for receiving the request from the
the APIs are located must have a TLS certificate presentation layer and then making requests to
configured to make secure connections with clients. the nodes’ APIs. When the presentation layer
In this case, a hosting service called “Render” will requests information from the nodes, the Central
provide these certificates when deploying the APIs. APIs will consult the Consensus Node or the
Executive Node. In the scenario that the
3.2.2 Databases presentation layer sends information (Recording
a sale, for example) to be registered in the nodes'
CouchDB database instances will be created to
databases, they will first send the information to
prevent Inject SQL attacks. The instances will be
the Central API, then it will send the transaction
created and deployed using a "Railway" service. It is
to the three nodes, who will validate the
recommended that restrictions be configured so as not
transaction. Once validated, each one will create
to be maliciously altered by unauthorized users.
a block and send it as a response to the Central
API which will compare the 3 blocks. If the three
3.3 Modules and Components of the blocks do not match, an email will be sent to the
E-Commerce “Service Manager” or a person in charge
indicating the error. If at least two blocks are
This section will cover the model's modules and equal, the Central API will send the common
components. Each module covers a set of block to the three nodes for registration in their
functionalities or features, such as the Authentication databases. The block will be saved in the
module, which covers the registration and login “Blockchain” database, and the transaction will
functionalities. be saved in the “Worldstate” database. All the

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above helps to identify and prevent possible purchase orders and products. The instance has 2
Man-in-the-Middle (MitM) attacks, as well as databases: “logistics_worldstate” and
possible problems with inconsistencies in “logistics_blockchain”. Finally, the "Consensus
database information. An example of this is Node" and the "Executive Node" are the same in both
found in Figure 2. channels; they have their own API and database
instances. These instances will store all the previously
• Channels. The structure will have two channels: mentioned databases: “sales_worldstate”,
“Sales Channel” and “Logistics Channel”. Each “sales_blockchain”, “logistics_worldstate” and
one will have a minimum of 3 nodes. Each of “logistics_blockchain”.
these will be composed of an API and a
CouchDB instance with their respective 3.3.2 Authentication Module
databases, as can be seen in Figure 3.
This module covers the "Login" and "User
Registration" functionalities. These require using a
"Users" database instance containing the
"Users_Commerce" database containing user
information, such as username, password, name,
email, and role. The module's functionalities will be
described in greater detail below:
• User Registration. Allows the user to register to
purchase items in the virtual store. To register
data, the following will be requested: Name,
Username, Email and Password. Then you will
receive a message with a special code in your
email. Once the code has been entered and
accepted by the system, you will be redirected to
Figure 3: Node Sales. the home page of the virtual store.
• Login. Allows users to log in to the virtual store
As mentioned in the previous point, the API of using their username and password. This can be
each node will oversee the validation of the logged using a JSON Web Token (JWT)
transactions it receives from the "Central API" and approach, where the API will provide the user's
create the blocks that will return them as a response. browser with a token to authenticate on the e-
The node instances will have “worldstate” and commerce pages.
“blockchain” databases, an example of this is the
sales node which will have “sales_worldstate” and 3.3.3 Payment Processing Module
“sales_blockchain” instances. The “worldstate”
database is made up of arrangements of specific The credit card payment process requires using a
information, in the case of “sales_worldstate” it will Credit Card payment gateway (such as Culqi). If you
store sales arrangements. Likewise, the “blockchain” use this service, the presentation layer and the
database will store blocks sequentially with “CentralSales” API will be programmed to
information about changes in the “Worldstate” implement this payment method.
database. As seen in Figure 1, the “Sales Channel” The Cryptocurrency payment process requires using
contains three nodes: “Consensus Node”, “Executive a Cryptocurrency payment gateway (such as
Node” and the “Sales Node”. For its part, the Blockonomics). The presentation layer (the Angular
“Logistics Channel” contains three nodes: file) and the “CentralSales” API must be programmed
“Consensus Node”, “Executive Node” and the to implement the following payment process:
“Logistics Node”. The "Sales node" contains the
“nodeSales” API and a “Sales Instance” that stores 1. The customer fills his shopping cart.
sales-related information. This instance has two 2. The customer clicks Pay, then is redirected
databases: “sales_worldstate” and to a “Payment Options” page.
“sales_blockchain”. The “Logistics Node” consists of
the “nodeLogistics” API and a “Logistics Instance”,
this instance will store the information of suppliers,

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 Technological Model for Cryptocurrency Payments in E-Commerce

Figure 4: Central API - Information processing.

3. The customer clicks on “Pay with Bitcoin”, 3.3.6 Website Monitoring Module
so they will be redirected to a “Verify
Payment” page which contains a QR, the It is important to track the components of a
amount to pay in bitcoins, and a box with a Blockchain structure to guarantee its correct
message that says, “Processing Payment”. functioning. Therefore, the creation of a "Website
Additionally, a timer will appear, so if it Monitoring" page is proposed in which administrators
reaches 0 and no payment has been made, will be able to view the availability of the virtual store
the transaction is canceled, and you are components, such as the "Central APIs", the node
redirected to the home page. APIs, the "Authentication" API. ", the "Images" API
and the database instances. If all the components
4. The customer makes the payment, then the (APIs and database instances) of the Sales channel
message in the box will change its message: nodes are operational, a message will appear at the
“Payment made successfully”, then they will top: “Sales Channel operational perfectly”. The same
be redirected to the home page, likewise, will happen with the “Logistics Channel”. If all the
they will be able to see their purchase in “My components of the website are operational, a box will
Orders”. appear that mentions “Website Operating perfectly”.
The payment process at the frontend and backend
level will follow the logic in Figure 4. 3.4 Development Process
3.3.4 Sales Management Module The development will follow 4 phases:
The first phase is to request business requirements,
It consists of a section in which the seller can trace such as Product Information, images, and videos, if
the purchases of all users of the virtual store. This necessary.
section will obtain its information from the “Sales The second phase consists of the development of
Channel”. On the other hand, it is recommended to CouchDB instances and their respective databases for
implement a section or page in which the seller will the sales and logistics channels. Likewise, a “Users”
list all users with the “Customer” role. Likewise, you instance is created in which the credentials of the
can block or unblock your account activity to stop it virtual store users will be saved.
if suspicious behavior is observed. The third phase consists of the development of the
system APIs. To do this, first the generation of the
3.3.5 Logistics Management Module public and private key of the Certification Authority
will be carried out. Then two digital certificates are
It will include sections allowing you to manage (list, created as a Javascript object, one for the
register, and modify) information on purchase orders, “CentralSales” API and another for the
suppliers, and products.

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“CentralLogistics” API. This is to authenticate with in Figure 5, the gateway did not take any commission
the APIs of the nodes as an extra layer of security regarding the sale price. The "Blockonomics"
apart from the API Key. Next, the development of the payment gateway sends all income to the business's
central APIs and the node APIs is carried out, so that virtual wallet. At the end of the month, the service
they follow the previous logic mentioned. Also, the charges 1% of each transaction.
development of the “Authentication” API will be
carried out, in which POST routes will be created for
login, registration and email verification. Likewise,
GET routes will be established to obtain information
from users. Finally, a PUT route will be created to
modify the user's status ("Active" or "Blocked").
Subsequently, the “Images” API will be developed, in Figure 5: Receiving the deposit in the virtual wallet.
which a POST route will be created to receive the
image file and upload it to the Cloudinary storage
Likewise, it does not take commissions for the
service.
first 20 transactions for new service users
Finally, phase 4 consists of developing the
(Blockonomics). On the other hand, if several
components and services in Angular for the creation
transactions were made until transaction number 21
of the e-commerce pages.
was reached, the gateway would take a commission
of 1% concerning to the sale price, which would be
0.08 USD, as shown in Figure 6.
4 VALIDATION AND ANALYSIS
OF RESULTS
The validation was carried out in a company
dedicated to the import and sale of car accessories,
such as Covers, Steering Wheel Covers, Cool Seats,
among others. The construction of the virtual store
followed the previously mentioned guidelines.
The improvement verification was carried out in
the Context of "Transaction Costs", by comparing
commissions for using credit card and cryptocurrency
payment gateways. Additionally, we calculated the
Block Time and compared it with others blockchain Figure 6: Comparison of transaction costs for payment
networks. gateways for transactions 21 or more.

4.1 Verification of Improvement in the 4.2 Verification of Improvement of the

Context of "Transaction Costs" Block Time
To carry out this verification, in the case study In this performance context, the block time refers to
business, a comparison of "Transaction Costs" the time required for a block to be created and added
(Commissions) was carried out for the use of payment to the blockchain. We retrieved the block time of a set
gateways that allow payment methods with Credit of transactions in the e-commerce to get the average
Card (Culqi) and Bitcoin (Blockonomics). Block Time for our model:
A product “Wheel Insurance” was chosen with a
sale price of 8.09 USD, in which, if a purchase was • Registration of a supplier: 1338 milliseconds
made with the credit card payment method (VISA),
• Registration of a product: 1321 milliseconds
the “Culqi” gateway It would have taken an amount
of 0.57 USD (due to commission and VAT), which • Registration of a sale: 1615 milliseconds
represents 7.05% of the total sale.
Regarding the Bitcoin payment gateway From the above, the average block time was 1425
(Blockonomics), the purchase was made with the milliseconds. Considering that Ethereum has a Block
cryptocurrency payment method following the Time of 12 seconds (YCHARTS, 2024), we got an
process stated in the subsection 3.3.3. As can be seen improvement of 88.1%. Also, BTC has a block time

32
 Technological Model for Cryptocurrency Payments in E-Commerce

of 10 minutes (BitInfoCharts, 2024), thus confirming • Increase the decentralization of information

greater efficiency on the part of our system. by seeking to increase the Blockchain nodes
and assign them to trusted entities/roles that
are independent of each other.
5 CONCLUSIONS AND
RECOMMENDATIONS
6 RECOGNITIONS
This research proposes a technological model for the
payment of electronic commerce with The authors would like to thank the Research
cryptocurrencies with a set of guidelines for its Directorate of the Peruvian University of Applied
architecture and components. The model was Sciences for their role in supporting this research.
validated using a case study with a company Likewise, we would like to emphasize the work made
dedicated to the import and sale of car accessories. by Juan Mansilla-López for providing his guidance
Following the defined guidelines, a virtual store was and experience in the writing of this work.
developed that allowed comparing the transaction
costs of using payment gateways with credit cards
and cryptocurrencies. In the storage context, we REFERENCES
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