Rabu, 20 Juni 2018

WORLDCOIN - THE FUTURE OF MIDDLE EAST TRADING

  

Crypto Currency or Crypto Currency is a place of buying and selling that is again booming with innumerable usage. Everyone will soon know, it forever changed the way we look at the digital economy. But despite having a large coin framework, many popular coins leave the market served from the mix. This is where WorldCoin comes to the level of playing field, helping the Islamic world to follow modern standards and practices. Although we will still work within the framework of sharia law, we also work to grow the most useful Middle Eastern market tool in the last 50 years. It will effectively take on the industry of 100 billion dollars (crypto currency) and introduce it to the trade-hungry Middle East. Instead of trying to reinvent the wheel, our developers will partner with Kyber Network (kyber.network.com) to provide instant, instantaneous currency exchange, no "middle man", a contract-based coin exchange, like being at the forefront of security and accountability. The first in the world of crypto exchange.

GROWTH


The industry has experienced unmatched growth over the last 2 years. But beyond that, the Middle East is also beginning to increase its trade sophistication. The market becomes as beautiful as anything you see in the states, so adoption will be easier because of the capital-rich market on many of these exchanges. Growth will be actually determined less by foreign policy and more by technology delivery, something we build to be very secure and highly transparent. Growth in the past has been restricted by both the anti-sharia law and by physical trade restrictions. We do not want to destroy any cultural values, instead we want to help speed up transaction time, because that's what wise growth will become possible.

Both the Crypto market along with the middle east market have both increased recently ... with certain countries in the Middle East showing signs of early adoption of western economic trends.

World Coins will be a currency backed with ethereum with a dynamic blend of 15 other currencies to help improve ease of use in the region. Our worldcoin will be easily traded into 15 other sub-coins and vice versa, which will act as a stake currency to keep its value stable compared to the broader coin market. With this micro currency people will be able to trade in their home country very quickly and without the hassle associated with traditional big currencies like Bitcoin, which have not been breeding in the region.

This instead makes it a PayPal type coin for trading locally or for trading in the Middle East. People will know that you have something behind their investment because of our 50% paper / gold warranty. Most banks will only have 10-20 percent share, but our reserves will be held both locally and internationally to ensure transparency and solvency in our transactions. Although the price of coins will not be pegged to the currency itself, they will be supported by this regional currency, so as to strengthen regional confidence and comply with local regulations.

WORLD TRADE

WorldCoin will display a basket of 14 individual currencies that are all pegged to the local currency of their respective country. (For example 1 Iraqi dinar will be equal to one dinar coin.) So to reduce instability fiat, we will also have our tokens easily traded to WorldCoin allowing investors a safe place in case of political instability in the region. This currency will always carry 50 percent cash reserves for full sharia reserves. It supports investors' money with local dollars and ensures the stability of WorldCoin as a trading network. Remember that most modern banks are only required to save between 3-20 percent of cash to support their real assets. That's why we got the banking "fiat". Our coins will surpass this.


SECURITY FEATURES

BACKGROUND OF SECURITY
Blockchain technology holds great promise to allow decentralized protocols, applications and organizations. Much of this enthusiasm is driven by Bitcoin and Ethereum, the main software platform in which it was built. However, we have seen $ 60 million + lost from hacks to blockchain based projects in the last 6 months. The latest scandal has posed a high risk and challenge facing each project: the problem of how to write simple and secure code that relates to certain types of real money. However, no widely accepted safety standards or best practices for the project will be followed. There is no tool for developers to easily create, test, verify, and archive smart contracts, and do them collaboratively. We believe that the only way to make it happen is because of existing and emerging projects to work together and build them together. By using OpenZeppelin as our library base, we will create a new token (WorldCoin) contract and the tokens (WorldCoin) will be compatible with the ERC-20 tokens.

TOKEN CONTRACT
As mentioned above, the WorldCoin token contract will be based on the OpenZeppelin library. OpenZeppelin is an open source framework for building secure smart contracts. It is intended to provide secure, tested and audited code to enable a new generation of distributed applications, protocols and organizations. By using Smart Contract Solutions, we are confident of creating an open financial and economic system for the world. We have sought to use blockchain technology to enhance the experience of creating and running a business. We plan to use OpenZeppelin as the core technology to achieve this vision.

ABOUT ERC-20 TOKEN (WORLDCOIN TOKEN)
Ethereum, popular cryptocurrency and blockchain systems, are based on the use of tokens that can be bought, sold, or traded. There are several different tokens that can be used in conjunction with Ethereal, and this is different from ether, which is the original blocking of Ethereal. Token, in this case, is a digital asset that can have various inherent values. They can represent diverse assets such as vouchers, IOU, or even objects in the real world. In this way, the token is essentially a smart contract that utilizes the Etaceum blockade. One of the most significant token standards for Ethereum is called ERC-20.

 SECURITY SOLUTIONS

    Network Configuration
   KyberNetwork is based on an on-chain protocol that enables instant exchange and conversion of digital assets (eg crypto tokens) and power crypts (eg Ether, Bitcoin, Zcash) with high liquidity. The main purpose is to apply some of the ideal operating properties of an exchange including execution without relief, decentralized, instant trading and high liquidity.

Token Contract Overvie
   The World Contract Token will be based on OpenZeppelin. OpenZeppelin is a library that has a good and well-tested smart contract that complies with security best practices.

Registration Security
By using a notary service, user registration security issues will be solved perfectly. (Here's like the picture below)

 Dapp Design
         Our dapp consists of openzeppelin contract and web interface. In more detail: Dapp = OpenZeppelin contract + web interface



THE TEAM

Andy Fur - Cloud Security Specialist
Pavel Rubin - Blokchain Developer
Alexander Misuno - Mobile Developer
Phillip Mccarty - UX Designer
Rob Rukstalis
Boyan Josic

FOR MORE INFORMATION :


Authored By: Putri Hanum


diposting oleh Putri Hanum @ Juni 20, 2018   0 Komentar

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