MiaoA International Timechain (M.I.T) is a precision time-value transmission network which enables the valuation of the time assets belonging to individuals and/or corporations. Utilizing the unique benefits derived from Blockchain technology and digital identity, the network can achieve the automated management of digitized time assets through the use of smart contracts. To facilitate this innovation, M.I.T has introduced TNB (a.k.a. Time New Bank) as the sole settlement token for transmitting the value of time commodity. M.I.T vision is to establish a time-value transmission network which encompasses the key principles of decentralization, internationalization, transaction flexibility, pricing transparency, and strong protection of rights. M.I.T connects high-value time exporters, time asset operators and investors, as well as large volume of time demanders. The project is dedicated to fully integrate industry best practices to ensure both a trust in the project and to maximize its value, which is anticipated to lead to an evolution of the whole industry. M.I.T platform comprises of underlying Blockchain ledger, M.I.T time commodity exposition platform (entry portal), M.I.T time commodity issuance platform (Primary Market), M.I.T time commodity exchange (Secondary Market), M.I.T time asset exchange (Third Market), APP, DAPP, enterprise service middleware, SDK,APT etc. TNB will serve as value-conveying instrument within the platform ecology.
First international personal IPO platform
Anyone who has services that are recognized and has a certain value can produce individual tokens within the constraints of the smart contract functionality afforded by the M.I.T platform and launch an individual IPO for the first time. A successful launch of an IPO will lay a solid foundation for enhancing individual capability and impact.
Time and skills “tokenized”
The unique skills of every individual can be measured by time. Forming the time commodity and converting it into a token by scientific algorithm enables anyone to trade that time regardless of their nationality. As time goes on and the better individual skills develop, the more value will be attached to the relevant time commodity.
Display of decentralized time-value measurement
M.I.T will develop a time commodity trading platform (Secondary Market) which leads to a transparent market behaviour by adopting Blockchain technology, which makes it easier for both time demanders and investors to obtain commodity information and conduct transactions, therefore realizing the value of time commodity.
Smart contract and digital identity
Several smart contracts will exist on the Public Blockchain of M.I.T and to fulfil different contracts depending on various scenarios. Smart contracts allow trusted transaction to process without a third-party and those transactions are traceable, but irreversible. Furthermore, we will establish a set of X.509 standard digital identity system based on PKI (Public Key Infrastructure), which can securely reserve the identity information of individuals, organizations and objects in the form of electronic data and build digital credit accordingly.
Multiple application scenarios
M.I.T platform is applying Blockchain 3.0 standard in order to provide API interface functionality. This will enable unlimited applications to launch using M.I.T Blockchain technology. In addition, the M.I.T platform will integrate more mature application scenarios to expediting the development of the platform and promote the sustainable development of it.
Transparency in transactions
M.I.T is based on the latest Blockchain underlying technology, aiming to establish a decentralized time-value transmission network. Each transaction can be searched with the Block Explorer provided, thus users can manage their individual time assets quickly, efficiently, safely and legally.
MiaoA: FIRST ECO OF M.I.T
MiaoA is the first ecological product of M.I.T--time commodity transmission platform of celebrities. Currently, there are four A-list celebrities on platform: Running Man from South Korea (Kim Jong Kook), US president (Donald Trump), boss of the crypto currency world (Laomao), “God of Stocks”(Warren Buffet). The demanders are able to purchase time from celebrities by using TNB and realize the time asset appreciation to gain investment earnings, in the meantime fulfil the demands of the public. After purchasing, the celebrity’s corresponding service will be available to trade with time commodity.
BLUEPRINT FOR FUTURE DEVELOPMENT
Once M.I.T platform has been developed, it will cater for all levels of time exporters not just high-value celebrities. There will be an overlap between time demanders and exporters and as long as an individual’s ability to provide a service is recognized, they will be able to monetize their time. M.I.T will thrive making each individual’s time valuable and realizing the universal self-fulfilment. At this stage, M.I.T will rapidly cultivate users to apply TNB as their method of transaction while serving its cooperative partners and users. Due to the business applicability of M.I.T, which will enable TNB to be utilized for many scenarios this will naturally introduce more business partners to the platform. The demand for TNB will therefore boost in the same pace so the TNB price will increase accordingly, which brings along increased activity on the Secondary Market and expedites the occurrence of the Third Market.