Place/Date: Singapore - February 9th, 2017 at 6:57 pm UTC · 3 min read
Contact: John Scianna, Source: Qtum Foundation
The Qtum Foundation, the organization overseeing the development of the Qtum Blockchain project, released their economy whitepaper today, titled: Qtum Blockchain Economy Whitepaper. The whitepaper outlines the Foundation’s structure, the blockchain, the team, fund allocation, token distribution, and use cases of the blockchain.
The Foundation hired a Big Four accounting firm, which helped codevelop the whitepaper (https://qtum.org/whitepaper/) and will also assist in the development of Qtum’s governance structure, project management, and risk management. The Qtum Foundation will oversee the development of the Qtum Blockchain, advocate transparency, and promote its open source ecosystem.
The design of the Foundation’s governance structure mainly considers sustainability, management effectiveness, capital use and preservation for the Qtum project. The Foundation consists of various committees, such as Executive Judgment, Code Review, Finance & HR, as well as Marketing & PR. The different committees will work in cooperation 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 whitepaper specifies an array of services, designed to bridge the still existing gap between blockchains and the business world, by allowing smart contracts to adhere to changing commercial rules and regulations consistently. These services will also enable Qtum’s smart contracts to efficiently interface with real-time data inputs from stock markets, weather forecasts, news agencies, and the like. These augmentations have far-reaching implications for the utility of the Qtum blockchain.
Qtum’s whitepaper also details the Foundation’s plan to establish an interface array between the Qtum Blockchain and legacy business entities and government bodies.
“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 an open source value transfer protocol and decentralized application platform. The development team hails from multiple countries around the globe and is a collection of top experts in the industry. The Qtum Foundation, headquartered in Singapore, is the decision-making body that drives the project development. The Qtum Foundation has engaged one of the big four accounting firms to provide project management and accounting support. Learn more at https://qtum.org/
Disclaimer Qtum Foundation is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.