The Qtum Foundation, the organization overseeing the development of the Qtum Blockchain project, has unveiled the release of economy whitepaper Qtum Blockchain Economy Whitepaper. The whitepaper focuses on the Foundation’s structure, the blockchain, the team, fund allocation, token distribution, and use cases of the blockchain.
Headquartered in Singapore, the Qtum Foundation can boast of a team of top experts in the industry hailing from multiple countries around the globe.
The Qtum Foundation has partnered with a Big Four accounting firm to develop the whitepaper. It has also been announced that the firm will assist in the development of Qtum’s governance structure, project management, and risk management. The Qtum Foundation will take control over the development of the Qtum Blockchain – it will advocate transparency and promote its open source ecosystem.
The Foundation’s governance structure mainly considers sustainability, management effectiveness, capital use and preservation for the Qtum project. There are several committees making up the Foundation such as Executive Judgment, Code Review, Finance & HR, as well as Marketing & PR. The committees will join efforts to manage Qtum’s daily operations and special occasions with detailed operational procedures and rules.
“We are publishing this economy whitepaper because we want the community to know we are disciplined and well organized. Most blockchain projects lack this vision when they are starting, and it’s just another fundamental difference that will help make Qtum a success,” said Patrick Dai, founder of Qtum.
The Qtum Blockchain Economy Whitepaper focuses on services intended to narrow the gap between blockchains and the business world. The whitepaper offers to allow smart contracts to adhere to changing commercial rules and regulations consistently. Qtum’s smart contracts will be able to efficiently interface with real-time data inputs from stock markets, weather forecasts, news agencies, and the like.
The Qtum Foundation gives details of its plan to establish an interface array between the Qtum Blockchain and legacy business entities and government bodies in the whitepaper.
“Qtum’s goal is to be the most stable, user-friendly blockchain for individuals and businesses. We want people to know who they are working with, and who’s behind the code,” added Dai.
Qtum is supported by some industries top minds and backers including Anthony Di Iorio, Ethereum Founder, and CEO of JaxxWallet; Chen Weixing, Billionaire founder of Kuaidi, one of the largest car riding services in China; Jeremy Gardner, co-founder of Auger and EIR at Blockchain Capital; David Lee Cuo Chuen, founder of Left Coast, Libai, and DLEE Capital Management; Xu Star, OKCoin CEO, and many others. Last month, Qtum managed to raise $1 million.