The Item Banc Engine, the technology for Information currency, will find best improvement and community trust as an open source platform. The technology is intended to receive input from the blockchain contracts for products (Item Banc). The Item Banc Engine output is the relative value to currency output and BHN commodity valuation information (information currency). This technology and output needs a protected and separated space to be fair, transparent, and secure.
The Federation is funded by 40% of each of the token sales per nation. Half of this is allocated to Item Banc Engine specific technology development, equipment, security, legal, and the funds needed for a work place. Founders’ interests represent the other half and are vested in the Federation. As the technology is secured and built out the founders are paid in equal distribution (see road map). Each new Nation may add a founder, and each Nation may have a separate Token sale to be distributed in this manner.
Governance of the Federation is one founder, one vote to make up 51%. If the founders cannot find majority consensus then the Item Banc contract holders may each have one vote (to total 49%). If a founder resigns or can no longer serve, a replacement is elected from that nation group.
The suitable location of the Item Banc Federation and Item Banc Engine will be in a crypto friendly and tax friendly Nation, such as Switzerland, Singapore, Malta, the Netherlands, etc. This decision will be made some time after the first successful Token sale and after successful beta testing of the Item Banc Engine.
Though the valuation to currency and commodity valuation information by nation will be published and free, specific inquiries for valuation information outside of this will require a fee determined by the Federation. Fees are used for technology development and Federation expenses and are not for distribution to founders.
The Federation is funded by 40% of each of the token sales per nation. Half of this is allocated to Item Banc Engine specific technology development, equipment, security, legal, and the funds needed for a work place. Founders’ interests represent the other half and are vested in the Federation. As the technology is secured and built out the founders are paid in equal distribution (see road map). Each new Nation may add a founder, and each Nation may have a separate Token sale to be distributed in this manner.
Governance of the Federation is one founder, one vote to make up 51%. If the founders cannot find majority consensus then the Item Banc contract holders may each have one vote (to total 49%). If a founder resigns or can no longer serve, a replacement is elected from that nation group.
The suitable location of the Item Banc Federation and Item Banc Engine will be in a crypto friendly and tax friendly Nation, such as Switzerland, Singapore, Malta, the Netherlands, etc. This decision will be made some time after the first successful Token sale and after successful beta testing of the Item Banc Engine.
Though the valuation to currency and commodity valuation information by nation will be published and free, specific inquiries for valuation information outside of this will require a fee determined by the Federation. Fees are used for technology development and Federation expenses and are not for distribution to founders.