ITEM BANC TECHNOLOGY : Backed by Basic Human Need Products
Hello Golos community, If you are interested in joining the ItemBanc project, it is a good idea to read reviews that can help you get information that might help you in seeing their vision and mission, the following:
What is Item Banc?
Item Banc is a technology that can provide fair market valuation information to all countries.
Item Banc can deliver a valuation engine to the market. For producers and farmers and manufacturers, Item Banc can capitalize production. For distributors, Item Banc can deliver commoditization of products to enable valuation information. For financial markets Item Banc can capitalize producers and businesses.
For communities, Item Banc can bring fair market value. For nations, Item Banc can value currencies. Item Banc will deliver a new paradigm of information currency for the people.
ITEM BANC SOLUTION
Item Banc is a technology engine designed to create global parity valuation information. Data for the engine is derived from a basket of basic human need goods that are captured and tokenized by smart contracts with producers and organized by Nation.
Item Banc technology creates Information Currency. The presentation below explains how we plan to make this work.
The entry point and growth plan for Item Banc in a community proves a realistic acceptance that to create robust trade the technology must first address the basic needs of the people and their incentive to produce. Item Banc can deliver confidence, security and freedom in a currency-challenged community with a new currency that can grow smart, productive economies.
THE ITEM BANC DEVELOPMENT PLAN
BHN Warehouse Pilot Team (Rwanda) :
BHN Rwanda Team is responsible to manage BHN distribution in the Country. The team will find an initial property and building suitable for warehousing BHN items. The team is responsible to purchase and stock and manage the sales of product for information currency on an ongoing basis. The team is also responsible to manage IB contracts for new products and the storage and sales of these items as well. There is a 10% product allocation for BHN team in each IB contract on the blockchain.
Item Banc Coin (Rwanda) :
Code initial ICO structure into Ethereum and create coin.
First Token Sale September 2018
Item Banc Smart Contract Team and Beta Testing (Rwanda):
Item Banc Rwanda Nation Coin Team will focus development of smart contracts for production and inventories within the nation, airdrops for citizens and residents of Rwanda and BHN warehouses within the country. Rwanda Nation is the Beta site for Item Banc contracts on the blockchain and will participate with other national Item Bancs via the Item Banc Engine cross-average-cost system as they are implemented.
Item Banc Engine Team Atlanta, GA:
This team is responsible to code the Item Banc Engine Technology created by V Robertson.
The engine uses algorithms and methods published in the Information Currency book with proprietary program design for item naming systems tested in 2002.
THE ITEM BANC TOKEN IS BACKED BY PRODUCTS NEEDED IN DAILY LIFE.
The core set of commodity products that back the currency are described as BHN or Basic Human Need products. These products are in five categories: Food, Building Materials, Basic Clothing, Paper Products, and Hygiene.
Producers are given the Item Banc Token in a smart contract exchange for their BHN products. The products can be stored by the producer or moved to a common warehouse. Producers include, for example; Farmers, Manufacturers, Distributors, and Importers.
Consumers who have fiat cash money can exchange for Item Banc Tokens from the producers which would allow for purchase of BHN items at discounted rates. Consumers can also work for the producers to earn Tokens. Consumers can also trade or sell other goods or services for Item Banc Tokens.
The Item Banc Token is backed specifically by products that are needed in daily life. The core set of commodity products that back the currency are described as BHN or Basic Human Need products. These products are in five categories: Food, Building Materials, Basic Clothing, Paper Products, and Hygiene.
Token available for trading on exchanges: As organized after 30 days from end of token sale.
Token Sale Terms
- Target on Pre- sale: $5 million
- Project Ordered by Token Sales:
- September 2018: Fund teams, training, marketing.
- December 2018: Product acquisition and smart contract development, community air drop.
- April 2019: Going Live and Item Banc Engine Dev Teams, community air drop.
Tokens Sold Distributed Accordingly:
- 20% Coin Development
- 20% Founder tokens
- 10% Item Banc Federation/IB Technology
- 40% BHN Stock and Operations
- 5% Advisors, Grants, Partnerships
- 3% Community via Air Drop
- 2% to cover token sale
Open Fundraising, Pre-ICO and ICO Conditions
- Total Investors Supply: Open
- Pre-ICO: TBD
- ICO: TBD
- ICO Hard Close Rwanda Nation April 30, 2019
Item Banc will open ICO’s by Nation as approved by the Item Banc Federation
Use of Token Development Proceeds
- 30% software development
- 20% Legal Expenses, Licenses (FCA, SEC, etc.)
- 15% Marketing and Business Development
- 35% Operational Expenses
To find more relevant details from the ItemBanc project, please follow a number of sources for the following references:
My BitCointalk profile: https://bitcointalk.org/index.php?action=profile;u=1045517;sa=summary