Since May 2018 the firts phase of the founding of the QUBITICA community has been completed. The current whitepaper refers to the ideas and goals of this new structure.
For informational purposes you can read previous whitepaer versions: whitepaper-20180302
What is QUBITICA?
QUBITICA is a community of more than 1000 developers, IT companies and investors from over 20 nations who want to work together to advance blockchain technology. This community has developed the QUBITICA infrastructure and since May 2018 it has been working on new blockchain and AI projects under the associated brands and websites.
Subcontracting is organized within the community. This requires the holding of QBIT, the paticipation shares in QUBITICA and all related projects.
Have you ever wondered what would happen if all employees of a company were also owners of this company?
What if these people could now work from anywhere in the world? Qubitica is a distributed company in which all shareholders are employees, founders and investors and all the benefits remain within this community.
There is no known concept for this. You could call it a "democratic distributed company". The extension of a classic DAO (decentralized autonomous organization) to goals such as profit and legal aspects. All business decisions are made by this community in a very democratic process. Blockchain technology makes this concept possible, as it creates the necessary transparency and structure.
The concept of a democratic, distributed company is crazy, but we are already far from the project phase. In principle, we have a cash flow positive company with over 1000 IT developers working together to develop tomorrow's blockchain and AI ideas. An interesting aspect of this concept is that we do not have to buy the knowledge, but we receive it from the developers who belong to Qubitica.
So far we have not created this perfect world yet. The project allocation, tenders, quality control will continue to be carried out by a core team (the Infoline GmbH). This has also provided seed money to finance some needed services and hardware. We believe that this distribution will be good in the next few years, until we have created structures through smart contracts that turn management into a 100% democratic process.
I would like to emphasize that nobody in Qubitica, except the founding company, really had to contribute money through the company concept. Only programming was accepted in return for shares. So we are completely free from the problems that many ICOs have. Any QBIT holder can freely sell his shares and receive Ether, BTC or USD. In general, shares often switch between developers, but also between investors or traders who previously had no opportunity to acquire QBIT. To date, there is a good cycle and the mix within the shareholders is appropriate. Since we all know our participating developers by registering their shares under Qubitica.net, we have a good overview.
A long-term goal of QUBITICA is the development of smart contract solutions that enable the organization of a distributed democratic company. Then there are the diverse tasks within different blockchain platforms and those of the AI.
All projects are treated as independent tasks and subprojects advertised individually. This allows us to achieve a flexible pipeline adapted to the needs of the market. The general developments in Blockchain and AI will grow disproportionately, which is why it is the right time to find an intelligent solution to handle these tasks. QUBITICA ensures the exchange of ideas, prioritization of projects and the management of shares in QUBITICA.
Qubitica is not
an Ethereum-oriented community. Although QBIT is an ERC-20 token running in the Ethereum Blockchain, it was chosen only because Ethereum is the best solution of technology and distribution. We hold no investments in Ethereum and are not directly affected by price fluctuations of the crypto currencies.
What is a QBIT?
QUBITICA's QBIT is an ERC-20 token that honors achievements. This honor is also comparable to shares. Developers receive QBIT for the implementation of projects and thus a share in the assets of the platform.
A developer becomes, so to speak, a miner of shares through the power of his programming. He can now keep this QBIT, which represents his share of the overall project, or exchange it for Ether, Bitcoin or USD / Euro.
QBIT is also the unit through which investors can acquire shares in the projects. To do this, buy QBIT either from the developers, any holder or via the platform. A purchase on exchanges is of course also possible.
For new projects under other brands, the introduction of additional tokens is possible. QBIT holders automatically receive shares in this token upon issue.
What can I do with my QBIT?
- The sale of QBIT to the Platform is possible at any time.
- All developers who hold QBIT will regularly receive shares in the profits.
QUBITICA is not a non profit project. On the contrary, QUBITICA strives to generate profits from all projects by selling licenses or services that benefit the community. So QUBITICA does not want to be open source either.
QUBITICA has not needed any external investments, neither through ICOs nor through other investments. The pre-financing of projects is supported by the cash flow and the capitalization.
The development steps
Currently, the focus is on the development of new projects under new brands. These are regularly announced on the website. In 2018 priority will be given to AI artificial intelligence, blockchain platforms, Hyperledger, smart contracts for organizations and stock exchange concepts.
Thus, the next development steps are characterized by a focus on concrete projects around the Blockchain and AI. Fascinating areas in which we all like to put a lot of work and ideas.
These tasks will determine the project pipeline for 2018 before we set the course again towards the end of the year.
Success steps that are already behind us are the development of a distributed structure for the administration of QUBITICA and the project planning phases. For this an abstract layer model was developed and implemented.
whitepaper short version
Daniel Takriti, 13/Sep/2018
next whitepaper-update on 12/Jan/2019