Since May 2018, the first phase of the construction of the QUBITICA community has been completed. The current whitepaper refers to the ideas and goals of this new structure.
For informational purposes, see the previous whitepapers at whitepaper-20180302
What is QUBITICA?
QUBITICA is a global community of developers, IT companies and investors. The aim is to promote innovations in the field of DAO (Decentralized Autonomous Organization) and high technology.
This community is connected through the QBIT token. It serves as a membership token and currency used to assess benefits within the community.
Have you ever wondered what would happen if all employees in a company owned this business?
What if those people could work from anywhere in the world?
There is no known concept for this. It could be called a "democratic, distributed company". The extension of a classic DAO (Decentralized Autonomous Organization) to goals such as profit and legal aspects.
All decisions are made by this community in a very democratic process. Blockchain technology makes this concept possible because 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 of IT developers working together to develop ideas of tomorrow.
In summary, there are the two main advantages:
- Each member not only participates in his / her own achievement, but also in the success of the community
- Achievements are distributed within the community
So far we have not created this perfect world yet. The project allocation, tenders and quality control will continue to be carried out by a core team (the Infoline GmbH). This has also provided seed capital 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 intelligent contracts, which also transforms management into a 100% democratic process.
I would like to emphasize that nobody at Qubitica, except the founding company, really had to contribute money to the company concept. Only through programming or other intellectual work could QBIT be obtained. So we are completely free from the problems that many ICOs have. Each holder can trade his QBIT freely and receive Ether or BTC. In general, QBIT often switches between developers, but also between investors or traders, who initially had no opportunity to acquire QBIT. To date, there is a good cycle and the mix within the QBIT holders is appropriate. Since we all know our participating developers by registering their QBIT under Qubitica.net, we have a good overview. 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.
A long-term goal of QUBITICA in the Blockchain area is the development of Smart Contract Solutions, which enables the organization of a distributed democratic company. Add to that the manifold tasks within different blockchain platforms.
All projects are treated as independent tasks and subprojects individually advertised. This allows us to achieve a flexible pipeline adapted to the needs of the market. The general developments in Blockchain, KI and other high technologies will grow disproportionately, which is why it is the right time to find an intelligent solution to accomplish these tasks. QUBITICA ensures the exchange of ideas, prioritization of projects and quality control.
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 technique and distribution solution. We hold no investments in Ethereum and are not directly affected by price fluctuations of the crypto currencies.
What are QBIT?
QUBITICA's QBIT is an ERC-20 token that serves as a membership token but also as a currency. Developers receive QBIT for the implementation of projects and thus a share in the overall structure. A developer becomes, so to speak, the Miner of QBIT through the power of its programming. These QBIT, which represent part of the overall project, can now be retained or exchanged for Ether or Bitcoin. Participation in the various tenders is only possible by holding a corresponding QBIT quantity.
But QBIT are also the unit that investors are allowed to hold. To do this, they purchase QBIT either from the developer, a holder directly or through various other platforms. For new projects under other brands, the introduction of additional sub-tokens is possible.
Are QBIT valuable?
Yes, as they represent both a membership token and a currency. QBIT will not be sold by QUBITICA to gain capital. There is no hidden ICO. The QBIT you can trade originate from the free float, which is held by members, investors or traders. The strategy of QUBITICA is to regularly buy back QBIT if the opportunity arises. Decisive for this are the available funds, as well as the conditions of the overall market.
Review and Outlook
The year 2018 was very successful. Both, the growth in the number of members but also in the project development was larger than expected in the summer of 2018. The cost structure could be kept low and free funds were invested directly in the development of the project pipeline. Negative was the poor market sentiment in the area of crypto and the associated great reluctance among external clients. However, the volatility in the crypto market was beneficial for our Fintech solutions. We think that we should expand these in 2019, regardless of public perception.
Our news channels have also developed very well. These are successful for internal purposes but also as marketable products and are well positioned for 2019.
A trademark dispute with Alibaba Group Holding Limited could not be resolved in 2018. The rollout of our AI services will be delayed a bit. Possibly. we have to adjust the marketing strategy here in 2019.
Furthermore, the development of new projects under new brands is in the foreground. These are regularly announced on the website. Priority will be given to AI-artificial intelligence, Blockchain platforms, Hyperledger, Smart Contract for organizations, IoT and Fintech concepts.
Thus, the next development steps are characterized by a focus on concrete projects around Crypto, IoT and AI. Fascinating areas in which we like to put a lot of work and ideas.
whitepaper short version
Daniel Takriti, 11/Feb/2019
next whitepaper-update on 15/Jun/2019