ITEM BANC
This is the foremost advantageous time to introduce Item Banc, as a result of the planet wants technology which will deliver analysis data. international markets area unit declining in accessible loans, and valuation strategies area unit unstable. Markets would like a replacement technique to make sure truthful value for all countries.
Item Banc will place a replacement evaluation mechanism on the market. For farmers and makers, Item Banc will capitalize their production. For distributors, Item Banc will deliver marketable merchandise to supply analysis data.
For the community, Item Banc will bring truthful value. conjointly for countries, Item Banc will judge currency. Item Banc can offer a replacement paradigm for providing currency data to individuals.
Purpose
Item Banc could be a technology engine designed to make international parity valuation data. information for the engine comes from a basket of basic human would like product that area unit captured and tokenized by sensible contracts with producers and arranged by Nation. The entry purpose and growth set up for Item Banc in a very community proves a practical acceptance that to make strong trade the technology should initial address the essential wants of the individuals and their incentive to supply. Item Banc will deliver confidence, security and freedom in a very currency-challenged community with a replacement currency which will grow sensible, productive economies.
STARTING IN Rwanda
Africa is created of fifty four countries that interchange fifty six totally different currencies. African countries area unit endemic with inflation and a disconnect between economic performance and currency worth. The disconnect is gathered because of the shortcoming to trade directly across borders. there's no common trade currency however the U.S. greenback and this creates major friction within the manner of fees and time delays.
The aim for Item Banc is to in some little manner permit the traction of products forming basic wants between countries to secure valuation and permit the foremost deprived to interact expeditiously across boarders.
Rwanda sits within the middle of African nation, is stable and has advanced banking and monetary structures. Rwanda boasts sturdy legislation and governance and low incidence of corruption.
From associate African perspective this makes Rwanda a horny workplace for Item Banc to initiate its roll out. additionally, the sensible continent head workplace in Rwanda has the flexibility to deal across multiple regimes. The completion of a rail link to the coast can create Rwanda a logical land based mostly port for product to be keep and distributed.
Internationally Rwanda is seen because the leader in innovation in continent and in and of itself has and continues to receive sturdy support and a spotlight from the international community on initiatives that it's launching. Item Banc represents a daring step within the method of making a traceable, stable, corruption free commercialism platform to facilitate the transfer of basic product and worth between neighbors and countries on the continent and Rwanda has the positioning to execute. Once Rwanda has established the technology it will begin in different Nations and continents.
Location of Organization
Rwanda – Coin Development Team
Rwanda – BHN Warehouse Pilot Team
Item Banc Engine Team to be determined.
Headquarters for IBF to be determined.
Token Description
The Item Banc Token is backed specifically by merchandise that area unit required in way of life. The core set of goods merchandise that back the currency area unit represented as BHN or Basic Human would like merchandise.
These merchandise area unit in 5 categories: Food, Building Materials, Basic article of clothing, Paper merchandise, and Hygiene.
Token operate
Producers area unit given the Item Banc Token in a very sensible contract exchange for his or her BHN merchandise. The merchandise will be keep by the producer or touched to a standard warehouse. Producers embrace, for example; Farmers, makers, Distributors, and Importers.
Consumers United Nations agency have decree money cash will exchange for Item Banc Tokens from the producers which might yield purchase of BHN things at discounted rates. customers also can work for the producers to earn Tokens. customers also can trade or sell different product or services for Item Banc Tokens.
Token worth
The worth of the Item Banc Token is predicated on the collective value of the contractile merchandise. The worths of the merchandise area unit verified within the sensible contracts by the Item Banc Engine; a technology that makes worth systems supported what commodities area unit accessible wherever at what relative value. The model is additionally able to run during times of hyperinflation by pegging the worth of BHN to sidestep native inflation. Contracts will be part managed by associate oracle (trusted person) within the community if the worth of the item contract isn't however numerable by the technology. The contracts area unit recorded and maintained on the blockchain.
BHN (Basic Human Need) Product classes and examples:
• Food (relatively non-perishable): Rice, tinned meat, drinking water, lentils, oats, coffee, tea.
• Shelter (Building Materials): Lumber, block, rebar, nails, basic tools, metal.
• Basic Clothing: T-shirts, Jeans, socks, underwear, sandals.
• Paper Products: toilet tissue, copy paper, diapers, plates.
• Hygiene/Basic Emergency Supplies: Soap, improvement and disinfecting provides, blankets, emergency kits, dentifrice and brushes, flashlights, basic cell phones.
Technology Creation
The Item Banc token technology will be created on associate existing protocol like Cardano that enables for suburbanised proof of stake governance and doesn't need mining. straightforward interfaced sensible contract forms got to be created which will care for the blockchain.
The sensible contracts are going to be for merchandise within the target community that qualify as BHN merchandise or further community assets which will be staked to the currency as in agreement. A log of the goods merchandise staking (traded for) the Item Banc token, with product values has to be mechanically recorded by the sensible contract on a suburbanised Item Banc ledger.
The contract legal language will be supported existing heritage company trade contracts and might incorporate regional legal necessities wherever enforced. company trade contracts connected.
Method for Proof of Stake Governance
The Item Banc model for securitization of cryptocurrency involves sensible contracts that assign or stake associate quality against the currency. in contrast to loan platforms, the crypto is issued (created) by sensible contract once the quality is staked and therefore the crypto is burned once the quality is revoked.
The crypto will be changed for any product or services or decree or crypto and therefore the worth of the crypto can fluctuate supported market. The incentives to contract associate quality for the crypto area unit to make the most of the liquidity, a general rise in crypto worth as further qualitys area unit staked to the crypto and conjointly to create further markets for the asset. in a very most well-liked model the staked assets area unit commodities and BHN (basic human need) exhausting product of a minimum worth ($10,000 and up, for instance).The staked qualitys are going to be transparently printed by sensible contracts on associate accessible website and arranged by asset class, location, and original contractile worth. This data is managed by the Item Banc Technology.
Alpha Testing Technology 1998-2002
Twenty years agone the Item Banc Engine was designed and documented. associate application for patent was created to the U.S. authority on could, 1999 (60/132,779) and will five, 2000 (09/566,265). The Item Banc Engine for Conducting Barter Transactions over a electronic network by Virginia Robertson
A small team of programmers embarked on to check and code the planning. 45 freelance building offer distributors in twenty states across the U.S. in agreement to contribute their live information for the take a look at. The programmers combined live inventory information into one system in South geographic region. the information consisted of non-productive stocks (items that had not sold-out for a year) and was tested on the by artificial means intelligent naming and categorization technology of Item Banc. The goal of the take a look at was to refine the program style in order that the Item Banc Engine may mechanically commoditize things given drastically totally different naming conventions across platforms and states. The system was able to establish and worth the things.
Alpha Testing goods Trade 2002-2013
The next take a look at required to prove that non-productive goods inventories represent currency failure (as they need no value). If the currency was misreporting worth then these inventories ought to realize their true worth in a very totally different economy. it had been conjointly necessary to prove the usefulness of moving non-productive goods inventories into markets wherever they might be revalued.
With the steering of consultants within the International Reciprocal Trade Association, Ruffin commercialism Company, LLC tested moving non-productive building materials at each level of distribution as well as export. This testing lasted overrun 10 years however showed however goods inventories that were non-productive (had zero worth) in one economy may discover their goods value in new markets, proving theory. The book, “Information Currency: The New Green” 2009 by Virginia Robertson documents the testing, the ideas and therefore the algorithms.
Protocol call and connected advantages
The Ethereum protocol has the foremost market expertise so far as a crypto currency market-entry tool for coin creation and as a sensible contract launch platform. Given the breadth of tasks prior to our team this protocol looks like the plain place to start. Our innovation team has interest in an exceedingly few newer protocols that don't need ancient mining, have quicker group action speeds, less group action fees and governance models which will higher match our objectives. In time, (estimated when the fourth quarter 2018) as these protocols prove their ability to point out endurance, we are going to review the choices and port over. it's additionally quite potential that Ethereum might integrate all of those options (as they're engaged on most of them) within the close to future.
ROADMAP
September 2018
Foundation team, training, marketing, warehouses, Airdrop.
December 2018
Selling a product and developing intelligent contracts, Airdrop.
April 2019
Real-time movement and development of the Banc Engine Dev, bringing team.
TEAM
HENRI THOMPSON- city
Funder
VIRGINIA guard
Funder
ANTHONY SHORT
Funder
JORDAN GITTERMAN
Funder
Advisors
ANTOINE MUNYAKAZI JURU
Ambassador – Rwanda
ADAM KYAMATARE
Government Relations – Rwanda
ANNETTE RIGGS
Trade and Barter business
CHRIS citizen
Design
NANCY SHI
Finance & Strategic Alliance
MARK THATCHER
Legal and Capital Formation
JOSE Fidel Castro Ruz SEGARRA
Business development
DOMINIC CHUAN LING TING
Greater China Sourcing & Business Development
TIM HEWAN
Financial Director Item Banc Rwanda
CHRIS WERNER
Business development
PABLO OLEA
Supply Chain Administration and Finance
More information contact :
Website : https://itembanc.nl/
Whitepaper : https://itembanc.nl/wp-content/uploads/2018/09/Item-Banc-V24.pdf
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