Category: Recently Added Whitepapers

This whitepaper describes how RealTract is going to disrupt and transform the blockchain industry and cryptocurrency market with the launch of the first practical smart contract in the world. RealTract is going to launch Smart Contract 2.0 on the Blockchain 4.0. RealTract aims to create a truly democratic and decentralized blockchain enabling common users to get the benefits from the blockchain technology and digital currencies.

There are many technical difficulties around blockchain core technologies, which need breakthroughs and out of box thinking. At present, the infrastructure to support development of blockchain applications is unstable and time consuming. There are a number of major problems related with the current blockchain and smart contracts such as Low transaction throughput, Energy costs, Difficult to use, Uncompetitive Applications, low Transaction speed, Transaction fees, Issues of interoperability and Platform lock-in, lack of robust security for smart contract 1.0, etc.

The current blockchain architecture and technologies along with application scenario are limited by performance, applicability and stability of the underlying chain. Therefore, there is an urgent need to study the underlying mechanism of Blockchain, and redesign or improve the various key technologies of blockchain to solve the various associated problems.

RealTract aims to solve the problems such as low applicability, transaction congestion, high commissions, long confirmation latency, weak resistance to quantum attacks, slow communication and transactions, incapability in crossing and merging chains, large space for storage and etc. RealTract would optimize and improve blockchain technology in all aspects including protocols and mechanisms, and become a genuine infrastructure of Blockchain 4.0. Blockchain 4.0 uses a multilayered architecture which provides a solution to the issues faced by current blockchains such as the lack of scalability and low transaction throughput rate. Blockchain 4.0 incorporates many advance features like dynamical sharding functions for transaction scaling.

Blockchain 4.0 is secure, fast, scalable, and versatile.

The goal of RealTract is to create a trustless and decentralized system in which transactions are similar to real-world transactions. RealTract accomplishes it by designing its network as a multi-layer blockchain. Multi-layer chain has basically two layers viz. SupplyChain and MainChain. SupplyChain is the place to store the temporary transactions and in the pending order of the smart contract. MainChain is the place for recording and saving all the completed transactions, the information of contracts that have ended and user-encrypted information. It provides enhanced transaction speed, extended storage space and increased security with Proof of Truth (PoT) and Proof of Stake (PoS) algorithms. Moreover, it will inevitably make sure that it does not depend on the miners, inexpensive energy, and avoids attacking 51%.

Infinity Block Graphs (IBG) technology with infinite scalability helps keep transactions from overloading, speeding up transactions to 2 million TPS, bringing down the costs to nearly zero, and ensuring absolute security.

With the ability to create a deal, contracts can be applied more effectively in reality by adding: creation of multiple conditions, and the time of the contract. RealTract Smart Contract 2.0 is a significant improvement over the Ethereum smart contract 1.0 that is prevalent at present. In addition to maintaining the excellent operating mechanism of the older version, smart contract 2.0 adds conditions and algorithms to completely protect the interests of the parties, when participating in the transaction.

The Proof of Result (PoR) algorithm is included in the RealTract smart contract as a tool for evaluating and documenting the credibility of the parties involved in the contract. It also increases the security for the transaction parties. PoR is also a tool to handle disputes between the parties or the buyers and the sellers.

The cryptocurrency market has shown amazing growth in 2017 with the market capitalization crossing the half a trillion mark. Yet, after scaling new heights, there was drastic decline in the market. The main reason is the narrow base of the cryptocurrency market among the general public. RealTract’s offering of Smart Contract 2.0 on the Blockchain 4.0 would greatly increase the user base of the cryptocurrency market and blockchain usage. As the number of users would increase hugely, the price volatility of the cryptocurrency market would also reduce thanks to the expanded huge base of cryptocurrency and blockchain investors and users.

With the introduction of RealTract tokens (RET) as the digital currency for the cryptocurrency users, RealTract will be uniquely positioned to utilize its token and smart contract framework in conjunction with its revolutionary platform to solve the problems hampering the blockchain industry and cryptocurrency market. We plan RealTract crowdsale to fund our futuristic and pioneering platform. RealTract token (RET) tokens would initially be built on the popular ERC-20 standard. The ERC-20 standard allows RET tokens to immediately work with all the apps that conform to the standard. We would swap ERC-20 standard after the completion of RealTract Mainnet. Out of the total supply of the 100 billion RET tokens; the supply in circulation would be 35 billion tokens or 35% of the total tokens.

Our meticulous business plan, committed team, and technological innovations and breakthroughs would produce enormous gains in value for the investors in the coming future.

Realtract

This white paper explores global cross-border payment challenges, a proposed technology solution with transformative potential, and the business and technical perspectives of the proposed solution. Highlights are as follow:

Global cross-borders e-commerce has tremendous potential. In 2015 alone, total Gross Merchandise Value (GMV) for cross-border e-commerce stands at USD 300 billion, with a growth rate of about 25% per annum. This is expected to continue annually till 2020.

By 2020, the global market for cross-border e-commerce will account for about USD 900 billion, a 22% share of the entire global e-commerce market.

However, three significant problems continue to plague the ecosystem.

The existing financial infrastructure is a closed system, where transaction costs are high, and money moves slowly across countries, mostly due to political and geographic boundaries set in place by human factors. Many are left unserved and unbanked, especially in emerging markets.

High processing fees and processing time – Cross-border interchange and transaction fees are higher than domestic fees, often resulting in an additional 3-5% on top of the total purchase amount. This is due to the increased number of intermediaries involved: payment gateways, correspondent banks, currency exchanges, financial messaging networks who take a cut of the transactions. The additional risk and compliance costs, technology infrastructure costs also contribute to higher processing fees and time for both the consumer and merchant.

Trust and reputation problem – Building trust is difficult, and trust is centrally governed by big marketplaces now. There is an inability to transfer trust from one centralized service to another, and thus a need to establish relationship with each merchant separately. Moreover, a merchant or consumer’s history is not properly recorded, so there is no ability to punish fraudulent buyers or merchants. Likewise, settling claims or chargeback disputes is usually highly contentious without trustworthy records.

Lack of access to credit – Globally, over 2 billion people have no access to banking services, especially credit. In Southeast Asia itself, only 27% of the 600 million residents have a bank account — leaving essentially 438 million people unbanked. Without a proper bank account, it is almost impossible to borrow, save or invest money through traditional financial institutions like national banks. As a result, most of the unbanked turn to alternative financial institutions like pawnshops or loan sharks, where annual interest rates can be as unreasonable as 100% per year.

Rate3 is a universal blockchain-based token within a wider ecosystem connecting shoppers, merchants and other intermediaries.

Single Token Payment Solution: Cross-border payments within the ecosystem can be completed with only one step and a one-time fee, making them up to five times cheaper and a thousand times faster, compared to current payment processes. For consumers, they can convert fiat currency to Rate3 tokens easily and use the tokens to pay for cross-border purchases in a transparent fashion. For merchants, a simple integration with the Rate3 payment gateway allows them to accept Rate3 tokens and convert them to local fiat currencies of their choice easily.

Transaction and Credit Scoring System: The blockchain will record information captured in all transactions including but not limited to: time required to make the transaction, wallet addresses, warranty conditions, delivery time, reviews, etc. Apart from helping both consumers and merchants solve claims or fraud, the smart contract will automatically change the trust level for each of the parties involved.

Additionally, by tapping on the consumers’ transaction history and other identity data, Rate can issue a credible credit score to these consumers and offer them affordable credit through partnerships with other lending institutions.

Incentive System for All Participants: The value of any ecosystem lies in the twosided network effects. With more consumers in the ecosystem, merchants are more attracted to join the Rate3 network. Likewise, with more merchants, there are better incentives for consumers to join. With Rate3 tokens, cash-back incentives can be easily programmed through smart contracts to retain consumers. For merchants, they can create incentives for consumers easily too. Moreover, this can all be applied and facilitated instantaneously through the Rate3 network.

Rate3 is the most suitable to do this, given our existing products, users and networks. Founded in 2016, Rate is a fintech startup focused on cross-border e-commerce transactions. Our flagship product is RateX, a browser extension which enables easy payments with exchange rates more favorable than those offered by PayPal, credit card companies or banks. RateX aims to eliminate hidden transaction fees and unfavorable exchange rates incurred by consumers when they purchase overseas products.

Additionally, RateX aggregates coupon codes from various merchants and allows users to apply all coupon codes in a single click during checkout. Apart from RateX, Rate has a newer product: RateS, a mobile app with the features of the RateX extension but also an additional element of deal discovery.

The founding team of Rate comprises of Mr. Goh Jian Kai (Jake), the Chief Executive Officer (CEO), Mr. Davis Gay and Mr. Lim Jing Rong, the Chief Technology Officers (CTO). Including the three founders, Rate currently has eighteen employees and this number will increase as the firm continues to grow after successfully closing its preseries A round of financing.

Rate currently has partnerships with globally recognized e-commerce platforms such as Amazon, Taobao, and Hotels.com. Our key philosophy is to empower consumers with the best and cheapest shopping experience, so both products are entirely free for consumers. Instead, Rate earns affiliate fees from merchants by helping them increase affiliate sales.

Given Rate’s existing operational experience in the intersection between payment and cross-borders e-commerce, the Rate3 token is the most suitable one to power the future of the global e-commerce ecosystem. Staying true to our original vision, Rate3’s business model will not charge any transaction fees from merchant and consumers. Our three primary revenue streams are: digital prepaid card fees, affiliate marketing fees and credit loan interest. More details will be elaborated in the subsequent sections.

Rate3

By creating Ragnarok Coin (RAGNA) we made a cryptocurrency with a focus on decentralization and a secure storage of RAGNA in digital wallets. It utilizes an energy efficient Proof of Stake protocol, second-tier Masternode network along with a blockchain and a financial model that would generate income for RAGNA owners while utilizing itself for the security of the RAGNA blockchain. We have also inherited, through a selected fork of PIVX, the ability to provide for near-instant payments through SwiftTX. Ragnarok is a form of online digital money that can be easily transferred

all around the world in a blink of an eye with nearly non-existent transaction fees. You can buy RAGNA and just hold to earn rewards similar to interest, trade on an exchange or buy crypto mining items online. To address the issue of previous first-generation cryptocurrencies, the

network provides the owner the option to ensure fungibility of RAGNA through the inherited functionality of PIVX’s Zerocoin Protocol.

Our main goals are to be an advanced digital currency that is fast and secure which can be used to earn money online or buy crypto mining items from an online store we will partner with, this is something that has not been done before. This enables you to buy crypto mining items like GPU, Motherboards, riser and so on without having to give anyone your credit card or payment information

Ragnarok

Qurito is a platform for people to discover, gain and share their ideas and knowledge. The primary goal of Qurito is to deliver reliable and valuable content that is free of promotional spam or other various forms of unwanted content. As a result, the users of the platform can grow and explore in an effective and efficient manner.

Qurito differs from other pre-existing knowledgebase platforms in a unique way through an incentive program. Qurito incorporates a rewarding system, which rewards users for their contributions within the platform. This reward system will subsequently bring out more qualitative and quantitative content that will be shared on the platform.

Qurito

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.

Qubitica Website
Qubitica Whitepaper

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