Introducing Genesis Vision - Decentralized Platform for Trust Management
GENESIS VISION ICO
" Decentralized Platform for Trust Management "
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-Introduction-
Genesis Vision is a platform for personal confidence management market, built on blockchain technology and smart contracts. We unite exchanges, brokers, merchants, and investors into a decentralized, open and fair network, making financial markets even more global. This will enable successful traders to rapidly scale their trading strategies by attracting investments from around the world. The underlying smart contracting technology platform will provide automated and completely transparent systems for investment and profit distribution.
The Genesis Vision platform is a solution to the most important industry issues, such as limitations due to lack of information, lack of transparency and, consequently, lack of trust.
Fund raising and use of GVT (Genesis Vision Token) will help to finance product development, marketing and advertising for platform development. GVT is the Genesis Vision platform's internal currency and will be used for all investment operations and profit distribution.
Market Description
- Market participants
Manager
management funds / merchants of companies / individuals with proven trading history, ready to earn investor money for management. Profits, received as a result of total fund management, are shared proportionally between managers and investors. Managers receive commissions for management and commissions from profit (success fee).
Investors
Investors do not trade in the market directly. Instead, investors shift their funds to experienced traders who manage funds for them. Investors get their share of the profits of their managers
Broker
A broker is a company that has the appropriate license to carry out brokerage activities. Through brokers, traders have access to the trading of financial instruments in the stock and over-the-counter markets.
Market Operation Scheme
Market size
The trust management market is growing rapidly every year. According to Boston Consulting Group Global Asset Management 2016, the total amount of funds in the management of more than $ 70 trillion.
quantitative data about clients assets actively traded and under management in the global Forex and CFD markets that:
Traditional belief management
From a technological standpoint, traditional fiduciary management systems are black boxes to potential investors, because how they work is not always known or understood. In any case, all of the solutions while boiling down to investors use some software to transfer money to a financial manager and then wait to receive profits. However, investors do not have the opportunity to control their own funds. In addition, the fiduciary management system itself does not give investors any technical ability to ensure that their funds are returned, nor does it provide an understanding of how the money is used.
Investors receive statistics on the use of assets and performance of financial managers, but these statistics are fully determined by firms and financial managers. Currently, investors basically have no way to verify this information. Too often, the real situation is understood too late, when money can no longer be restored.
these dishonest companies are exploiting this, sneaky to attract customers by using high numbers that turn out to be not so promising in reality.
Our system adds transparency and, at a technological level, improves the security of assets and reliability of information. Decentralization ensures that one person will not be able to use the entire system for his or her own interests.
Problem Description
Despite the industry's steady growth, the existing trust management mechanisms do not meet the requirements of modern investors and managers. Managers, and consequently their investors, are tied to their brokers / exchange. Simultaneously, there is no reliable source of consolidated information or statistics. This prevents investors from flexibility in their choice and limits their ability to attract new funds
Lack of further transparency exacerbates the situation. Brokers have the technical ability to influence data about trade history and statistics from their managers. Potential investors do not have the ability to distinguish real trading history from counterfeit, and the existing chart of manager earnings from "withdrawn". Investment mechanisms, profit sharing and hidden commissions within the realization of trading platforms and are not open to market participants
A large number of ethical frauds on the confidence management market are detected in recent years [1]. Many Ponzi schemes were created under the guise of currencies, stocks and other asset trades. Fraudsters use the fact that technological solutions for trust management by default are very complicated and non-transparent to the user. As a result, customers lose their money overnight, and investor confidence in the overall market begins to fall.
The natural reaction to this situation is the tightening of regulation in this field. Today companies need to come far and expensive to get licenses for trust management activities. meticulous companies must execute complex and costly reporting and audit systems as well as to impose serious restrictions for investors. Obviously, neither companies nor investors benefit from it. However, offshore companies continue to operate unlicensed and deceive their clients.
All of these factors cause serious limitations on potential market participants, lack of utility, and lack of trust
Despite the visibility of existing problems in the industry, over the past 10 years, the mechanism of interaction between market participants has not undergone significant changes. This shows the need to introduce new technologies that will change the current situation.
We believe that one of these technologies could be the blockchain. Implementation of blockchain will enable trust management markets to achieve transparency and efficiency at the technological level. This will help to regain confidence in the market. In addition, it will attract the attention of new companies and investors of the new digital generation.
Our solution
Genesis Vision is a decentralized trust management platform built on blockchain technology and smart contracting. Blockchain technology provides the indispensable advantages, such as openness, eternity, and censorship of all stored information, while intelligent contracts, which will carry out the distribution of investments and profits, make this process completely transparent and open.
Every manager in the Geneis Vision network has its own cryptocurrency. The size of the problem depends on successful trading statistics. The process of transferring funds to managers is done by purchasing a manager's cryptocurrency on the internal exchange.
From the manager's point of view, the trading process will not change. merchants will continue to operate on the exchange or through a comfortable broker. Genesis Vision, in turn, is a public open source of reliable information about statistics of network participant activities and systems completely transparent distribution of investments and profits, built on smart contracts.
Profits for Investors
Profits for Private Managers and Funds
Advantages to Brokers
Architecture Project
- Platform Structure
Internal exchange manager cryptocurrencies
the internal exchange platform Genesis Vision is a place where investors can buy and sell coin managers.Managers have a limited number of coins, which depends on their level. Initially, this coin can only be purchased directly from the manager for a fixed price. After that, they can be traded freely among investors on the internal exchange. In this case, investors set their own prices for their manager's coins. The cost of this coin will depend on the success of the trading manager because the profitable trading manager makes his / her money "profitable."
Integration with trading platform
In order to connect to the Genesis Vision network, the broker needs to install plug-in integration for the trading platform. This plugin will be the bridge between blockchain and broker trading platform. The plug-in integration will perform the following functions:
Client application
To interact with the platform, mobile and web applications will be developed. This application will allow investors and managers to perform all necessary actions. Basic actions include:
application functionality for managers:
Platform Operation Scheme
Connecting Brokers
The broker connection scheme is as simple as possible: trading platform owners only need to install Genesis Vision software, which is free and distributed with an open license. Brokers can also give potential managers access to the Genesis Vision Manager registration function in their client applications - generally 'Being Genesis Vision Manager' button.
The manager connects
Merchants send applications either through their broker's website, connected to the Genesis Vision network, or directly through the http://genesis.visionsite. In simple conditions (having a minimum amount of own funds in a trading account), the trader becomes manager on the Genesis Vision platform. From then on, trading of all managers will be automatically verified, uploaded, and recorded in smart contracts, establishing a history of trustworthy trades and statistics.
A new registration manager triggers his own cryptocurrency emissions in an initial number of thousand coins, available for purchase for each member of the network. the additional issue of coins (ie, the pull of additional funds for management) depends on the level of manager, which, in turn, depends directly on the indicator of a particular manager's trading success.
available investment depends on manager level:
The trade manager uses both the mother and the funds invested by the investor. Gains received as a result of trading are automatically distributed proportionally between managerial mark holders at the end of the reporting period. Managers themselves choose the length of the reporting period, according to their trading strategy. The options are limited to options such as one week, two weeks, one month or three months
Coins manager
Investments are made by purchasing a manager's cryptocurrency. This method has several advantages over traditional schemes of transferring money to a manager's account:
- Coin Managers themselves are assets. At any time, investors can transfer / sell this cryptocurrency in the internal exchange. investors have the right to return coins to managers. However, returns only happen at the end of the reporting period.
- Additional gamification elements appear. In contrast to traditional schemes, users not only give money to unknowns until the end of the reporting period. Instead, the user buys the "real" coins shown in his personal cabinet and can be cashed at any time. This prompted investors to potentially assemble a large package of different coins, which contrasts with traditional investment.
- There are additional factors of user engagement and retention. In traditional investment schemes, investors are not involved in the processes that occur between the time of investment and making a profit. In our case, they will be able to continue to monitor their manager's coin exchange rates and new coin issuance, cryptocurrency trades on the internal exchange and so on.
When investors buy coins, GVTs are transferred to a brokerage account, where they will be converted to the required currency and transferred to a manager's trading account. coin holders receive a share of the profits of managers, according to their shares, minus commission managers and fees. investors have the right to transfer money or sell on the internal exchange.
Investors can withdraw investing money, but only at the end of the reporting period, having previously created an app for withdrawal. In case of return, the investor receives the money according to his or her share, and the coins are returned to the manager for further sale on the internal exchange.
Detailed Process Description
. Registration
1. To become a manager of Genesis Vision, merchants confirm their participation on their broker's website or at the http://genesis.vision site. A prerequisite for participation is the availability of a minimal amount of own funds in a trading account.
2. When registering, the manager shows the length of his reporting period, in accordance with his trading strategy (one week, two weeks, one month, three months)
3. This completes the registration, and the merchant enters the list of managers of Genesis Vision.
3.1 Manager's trading account is blocked from depositing and withdrawing funds.
3.2 cryptocurrency The Ethereum own platform manager problem in the number of a thousand
coin. Coins soon became available for investors to buy in the market of major cryptocurrencies managers.
3.3 The first reporting period begins
Reporting period
During the reporting period, the trading manager on his trading platform with the amount of funds available at the beginning. Trade history dismantled from trading platform and recorded in IPFS in real time.
Managers may leave requests for deposit / withdrawal of their own funds from trading accounts, which will be processed at the end of the reporting period. In this case, the amount of funds remaining should not be less than the minimum amount.
Investors can buy coin managers in the main market for GVT. In this case, transactions are recorded in intelligent contract managers and will be executed at the end of the reporting period.
Investors can transfer and sell their coins on the internal exchange.
Investors may leave a request for withdrawal of their invested funds, which will be processed at the end of the reporting period.
End of reporting period
1. Integration plug-in starts completion of the reporting period.
2. Profit Each manager is calculated. All receive profits, deducted commission manager, transferred from the broker wallet to the smart contract address.
3. Integration plug-in executes requests for input / output of funds received during the reporting period.
4. The next reporting period begins. Investors may leave a request for withdrawal of their invested funds, which will be processed at the end of the reporting period.
Trade Manager History Control
One of the most important issues solved with the Genesis Vision platform is the control history of the trading manager and verification.
If we were able to record all transactions in blockchain in real time, that would be a possible solution. But this is not feasible for a number of reasons:
- Blockchain technical limitations. Processing like a large number of transactions will create a considerable load on the blockchain platform.
- Not all managers will agree to publish all of their transactions in real time out of their concern protection trade strategy.
The problem of blockchain limitations can be avoided by using a number of existing technologies and new solutions:
- Broker trading platform plug-in writes all transactions in IPFS.
- An off-chain communication channel created between network members (using Protocol or other whispers). After each manager's transaction, a hash of trading history when sent to the network.
- The special service verifies that there is no historical change, using accepted hash and IPFS data.
trading Publishing managers in real time potentially jeopardizes their unique trading strategy. That is why traditional trust management systems usually offer the option to hide trading history during the reporting period.
In Genesis Vision it will be implemented as follows:
- At the beginning of the reporting period, the broker's trading platform plug-in generates a crypto key for the manager.
- Transactions of all managers written in IPFS are encrypted
- At the end of the reporting period, the key to decryption is published and the entire trading history becomes public and is available for validation by hash.
ICO
Genesis Vision ICO Options
ICO campaigns recently identified a number of problems in this process:
- People who have been following the project for a long time can only be late to invest the money
- A huge surge of transactions in the first minute after the launch of ICO created difficulties for ICO investors and other Ethereum blockchain users.
- Due to the geographic spread of investors, participation for many of them may be compounded by the fact that the ICO launch fell on a distant night in their time zone.
- Initial investment bonuses are often given for not the first real supporters, but for those who succeed to be the first to carry out transactions in the blockchain.
To address this and a number of other issues, the Genesis Vision team launched a program of choice for ICO participation
Condition
The Genesis Vision option guarantees the right to obtain a token GVT at a certain price during ICO. Genesis Vision token option based on the standard Ethereum ERC20 Token.
The option price is 5% of the desired amount of the investment.
The option will also provide an additional bonus for the number of tokens: The option for the first 20% of the maximum cap option guarantees their holders a 30% bonus; next 30% receive 20% bonus, and the remaining 50% receive 10% bonus.
30.3% of GVT sold will be available for purchase by the Genesis Vision option program.
To get an option, ICO investors pay 5% of the total amount desired from the investment. The number of tokens available for purchase during ICO is calculated by this formula:
Example:
An investor wants to invest $ 1000 in the upcoming ICO. Suppose that when the bonus ICO is 30%. The option price is 5% of the total amount - $ 50. Investors can pay the appropriate amount in one of the supported currencies. The amount of GVT available with this option would be:
In this example, investors are guaranteed to be able to buy up to 1300 GVT at a price of $ 0.73 per mark during the first day of ICO
On ICO's first day,, tokens will be sold to option holders only. When the option holder buys GVT during ICO, his or her choice (or part of the option) is exercised: a selected token burned and the corresponding amount of GVT is obtained.
If investors do not use the option on the first day of ICO, they can do it on another day, but in this case the choice will be executed only if the ICO swimming pool has enough evidence. If the option holder does not exercise their choice during ICO, the option will be canceled. Options can be implemented partially.
Options are non-refundable; the money collected from the options sold can be spent by Genesis Vision immediately on the development and marketing of the Platform.
Team
Counselor
There he is. articles I've created to help you, for someone who is less understanding with the articles I create, I also set up a link for you, where you can ask the team from the Genesis Vision project.
Thank you, for your time to read the article I created for today, hoping it can be useful to all of you, who want to participate in the Genesis Vision project.
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Posted By : Argiyan News
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