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The emergence of disruptive technologies is always complemented by the creation and development of new models, mostly resulting in new economic concepts and business structures. The rise of the internet over 30 years ago, laid the foundation for the creation of new markets, for instance, that book store that sells all publications from around the world — Amazon. Or new concepts like the ‘Instant gratification’ that contributed to the introduction of business models like Netflix, finally allowing consumers to get instant access to films and series.
Blockchain is bound to create new models in all fields that regulate our lives, from a financial perspective to the regulation of infrastructures facilitating interactions and transactions in a way that would not be possible without the internet. This is one of the reasons why it is often referred to as the next generation of the internet or Web3, where WWW revolutionized information, Web2 facilitated interactions and now Web3 has the potential to innovate agreement and value exchange structures using the internet in a decentralized manner.
From a technological perspective, the similarities between the two are impressive.
We are currently believed to be in what were the early stages of the internet, with similar challenges around scalability, costs, and education, limiting the development of breakthrough applications and mass adoption. These internet challenges were resolved over time, therefore we should expect a similar progression in Blockchain.
In 1996, major internet service AOL could not manage a high volume of Internet users and went down for nineteen hours. Gradually the average internet speed in the US went from 50Kbps in 1999 to 18.7Mbps of 2017. Similarly, in 2017 the Ethereum blockchain failed to sustain the spike of on-chain transactions caused by the famous blockchain game CryptoKitties and the platform suffered the most serious network clog to date. These failures are necessary to the development of technology. Just like it was clear in 1996 that the internet had to face a scalability issue, it’s been evident for years now that blockchain also has to find ways to deal with the problem. Developers, programmers, experts, and academics are all working on the improvement of the system but there won’t be a definite solution, just like there wasn’t for the internet.
As popular Bitcoin expert and educator Andreas Antonopoulos mentioned in his book The Internet of Money, “Scale is not a goal to achieve; it is a definition of what you can do with the network today.” Scalability was built on the internet based on layers on top of the basic protocol and it looks like this will be the possible progression for the blockchain too. The Lightning Network, layer2 or off-chain protocol, is paving the way for Bitcoin fast and small payments along with a major focus on providing full privacy to transactions. Many believe in this respect we are still in 1994 Internet time, when the TCP/IP, HTML, and FTP were invented, leading to the successful business models represented by Facebook, Airbnb and Uber later. In the blockchain, breakthrough Dapps have yet to appear and will emerge in the coming years.
User Interface will help drive adoption in the same ways it helped the internet. At the time of the Arpanet, the technical foundation of the internet, the system was difficult to use for both nontechnical and technical people. The search functionality relied on an IP address and navigating the internet meant inserting a long string of numbers in order to find what you were looking for. It was easy to get confused, mistype numbers, etc. When the switch between the IP address and the URL happened, it became easier to navigate the web thanks to a more efficient and user-friendly experience overall.
Blockchain usage and benefit are still clunky. We still need a 12 or 24-word phrase to access a private cryptocurrency wallet and send a transaction to a long string of numbers (just like it happened with the early internet addresses) to validate it. All of this will disappear once user interfaces will be given the right attention and mass adoption will likely benefit from a system easier to use. It is clear that in the blockchain development more focus has been given so far to make the technology more secure, reliable, and robust at the expense of the user experience. Once the strength of the network/system is secured there will be a shift of interest in developing the interface with a resulting better user-friendly experience. Maybe it’s the right evolution and one that will bring a stronger technology structure overall.
Adoption is another important parallel we can highlight, not only with the Internet but with all the disruptive technologies previous to the World Wide Web. It took 46 years for electricity, 35 years for telephone, 14 years for TV, and 7 years for the Web to reach 25% of global market penetration. We can expect a similar growth trajectory to happen in the cryptocurrency/blockchain space, perhaps at a faster rate since the world is more connected now, thanks to the already existing internet interactions.
Stay tuned because in part two of this blog we will explore the parallels between the technologies in education, capitals, and start-ups and the decentralization of the blockchain as the main aspect that will revolutionize the Internet as well.
In the meantime, blockchain as a distributed ledger for a secure network of transactions is finding wide adoption as is the case for academic and ID credentials embraced by The University of Nicosia and Block.co. The University of Nicosia and Block.co can help provide the necessary technical expertise to follow the whole process from creation to publication on the blockchain where the document will be safely stored for life and where it can be independently verified by any third party. They were the first ones to do it globally as early as 2014.
For more info, contact [Block.co](mailto:Block.co) directly or email at [[email protected]](mailto:[email protected]).
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INTRODUCING QUANTOCOINBlockchain enables new ways of exchanging value securely while ensuring a reliable transaction. It enables people to meter excess capacity and facilitates non-traditional ways of generating income. Despite all the benefits, there are some challenges that the technology needs to address, I will talk about some of these challenges:
Because of all the hype surrounding Bitcoin and other digital currencies, blockchain started appearing like a pyramid scheme.
The technology is yet to mature and is susceptible to capacity problems, system failure, unanticipated bugs, and perhaps most damaging, the huge disappointment of technically unsophisticated users.
The bitcoin blockchain lacks transactional capacity. Some suggest that the way to mitigate this is by using other consensus algorithms. Another way is to use a sidechain which is a fork of a larger blockchain like bitcoin, while using the parent blockchain’s infrastructure.
Transactions on the blockchain are immutable which creates a system that is a bit sociopathic. Immutability is a double edged sword.
Much work needs to be done in basic interface and experience. A bitcoin address is an alphanumeric code. You don’t type an IP address to access a website, why would you then type an alphanumeric code to access a bitcoin wallet.
For these reasons stated up here, the QUANTOCOIN platform is birthed so as to reshape the blockchain ecosystem and the digital economy world at large where financial banking activities are concerned!
Here is the vision statement of this project; a cryptocurrency must be accepted by the masses, so it can develop its revolutionary potential. QUANTOCOIN aims to solve problems associated with the old-fashion banking system. The present financial system is supported by large-scale financial institutions. QUANTOCOIN is a platform for the future of funding that is built on top of the Waves blockchain. It accelerates the growth of unbanked people by offering tools and services that save both time and resources.
HOW QUANTOCOIN WORKSQUANTOCOIN has developed a next-generation model for the future of financial services and digital banking. This model uses Blockchain technology along with smartphones, as well as a new kind of bio-identification system which will be used to ensure safe and secure accounts for each user. This is a project to develop the future of the crypto-financial world. Its primary goal is to integrate and connect QTC into the traditional financial world and to create a single gateway through QTC platform for users, traders, investors and financial institutions with a whole range of add-on services.
QTC bank with QTC banking platform as the final stage of QTC project will bring solution by providing cryptocurrencies to mainstream everyday users.
Watch this short explainer video below that dive into the problem the team is solving with the QUANTOCOIN platform project, focusing more on how it is being done and why you should join what it is that the team members are building for the betterment of the ecosystem at large. Enjoy Watching!
The QTC mobile App will be made available for download via the iOS or Android marketplace and customers will finally be able to use cryptocurrencies to pay for any fiat-based goods or services instantly, easily and immediately on any POS terminals with NFC technology, QR code or through our qtcBeacons.
THE UNIQUE FEATURES OF QUANTOCOINBelow are some good and special features of QUANTOCOIN that distinguish this project from any other;
TOKEN INFORMATIONToken Name: Quantocoin
Token Symbol: QTCt
Blockchain Platform: Waves
Initial Price of 1 QTCt Token: from USD 1.2
Duration of DTO: 10 x 28 days periods (10 Months)
Amount token per one period: 7,000,000 QTCt
Available no. of tokens: 70,000,000 QTCt
Payment Gateway: Bitcoin (ВТC), Ethereum (ETH), fiat payments,VISA/Master
Settlement Period: 2(3) days after DTO period ends.
DTO duration: 1st July 2018 (GMT 00:00) - 30th April 2019 (GMT 29:59)
Note that; all tokens will be sold during DTO
ROADMAPBy definition, Roadmap is a plan or strategy intended to achieve a particular goal. That is to say the QUANTOCOIN Roadmap is step-by-step means by which the mission of the project is to be fully achieved.
Below is a pictorial representation of the QUANTOCOIN Roadmap:
CORE TEAM TEAM OF QUANTOCOINBehind every good project, there must be a solid team who are always brainstorming and working towards on how to achieve the aim of the project. The core team of QUANTOCOIN consists of experts who have extensive experience in IT, blockchain technology, marketing and business models. Also, the people who made up the team are veterans in the traditional finance industry, with more than 25 years of experience in online trading, FX and private banking. The idea of QTC originated from long-term planning and several years of practice.
Below are the brains that make up the QUANTOCOIN Team;
In conclusion, the idea behind QUANTOCOIN project is a very lucrative and sophisticated one. Rest assured, QUANTOCOIN aims to cater for the blockchain enthusiast who needs an easy to navigate platform that that can give reasonable transactions from banking activities. At the same time, QUANTOCOIN will provide powered-up, cutting-edge features for professional crypto guys who require the full range of earning more, decision making and fundamentals information at their fingertips.
It would be a good financial decision to take a look at the promising project and get along by registering an account on the official website and purchase the tokens while it is still very cheap now (token still at the initial offering).
Get connected anytime with the Project using the links below for more information, updates and participation:
ANN THREAD: https://bitcointalk.org/index.php?topic=2897398
BitcoinTalk Username: cryptoblezin
BitcoinTalk Profile URL: https://bitcointalk.org/index.php?action=profile;u=2178561;sa=summary
ETH Address: 0xC89b8Dd7e3E137DB108575EeAe301E52b6C72d9F