Our vision is to create a global peer-to-peer community bank focused first on the developing world. There are billions of people who are underbanked in South America, Asia, and Africa who are already connected to the Internet and who have mobile phones. There are many who struggle to put food on the table like those in Venezuela and others are experiencing currency instability like those in Argentina and Nigeria. Many are looking at crypto-currencies as an alternative money and there is a far higher adoption rate in developing nations than those in the developed world. Most of those in developing nations just lack opportunities to contribute and earn an adequate income to improve their daily lives. We want to find an easy and secure onramp for anyone with access to the internet a way to not only participate, but thrive in the new global economy. We want to bring decentralized finance (DeFi) to the entire world.
We’re building bitcashBank as a virtual network organization or DAO (ie. decentralized autonomous organization) called bitcashBank that enables software-based governance and that rewards users who invest and contribute to the organization and earn tokenized stake. Furthermore we give back to the community users who stake crypto (eg. BTC/EOS/ETH) in our system so they can earn rewards based on the transactional activity and the value they generate for our platform.
Mission & Strategy
Our overall mission is to be a global community bank that provides the infrastructure to empower at least one billion people around the world. In order to achieve this mission, we plan to begin with the most immediate opportunity: Helping people invest confidently in crypto-currencies. Our growth strategy begins with high quality crypto education. Unfortunately with great opportunities there is an equal amount of bad information, bad projects and noise. We want to help people separate the wheat from the chaff. We’ll create a repository of quality educational video series as well as enable easy access to experienced crypto investors to help as many new and experienced investors as we can. All our educational services under the 100x Crypto brand will be free and be sustained on requested donations, but we’ll also allow people and organizations we vet to offer premium & paid services. We also are building the most useful tools to make it easy for people to acquire and trade crypto securely. Our first product, the 100x Trade app that is built on top of the bitcashBank does exactly that.
We will be guided by results and measure our success on the following key performance metrics:
- 100x Crypto education: Monthly Active Users (MAU)
- 100x Trade app: Trade volume
- 100x Trade app (OTC): OTC Trade volume
Make. Crypto. Easy.
It takes great focus and care to build simple things and we’ll strive for minimalist and intuitive designs. We want a user experience that will be convenient and easy for regular people, not just those who are tech-savvy. We want all our products to reflect our philosophy. We want to build products people love. The foundation of our design philosophy relies on the following three core principles:
- be simple and minimalist.
- be clear, easy to understand and intuitive.
- focus on performance.
Dan Larimer, the founder and architect of EOS, coined the word Decentralized Autonomous Company (DAC) to describe how blockchain systems can be analogous to companies. Vitalik Buterin generalized the term to decentralized autonomous organization (DAO). The EOS blockchain can be considered a DAO. The same DAO model can be used to create many companies on top of the EOS blockchain. These sovereign DAOs can live purely on the EOS blockchain in its own virtual jurisdiction without having incorporated in any physical jurisdiction and may have greater immunity from taxes & regulation.
Blockchain technology enables radical transparency in decision- making, collaboration & accounting and these features may prove to be ideal for future organizations. We expect that there will eventually be a legal framework on the blockchain to handle any dispute resolutions, but that will likely be developed over time. Legally the DAO can most easily be described as a general partnership and the governance structure would rely on stake-based voting. The DAO could also allow vote delegation to improve decision-making efficiency.
At this early seed stage, the organization is currently composed of founding partners as well as early contributors and investors that have earned the initial seed tokens at roughly $1.5 million valuation from the input of their contributions of ideas, work and capital. In the future new partners will primarily be those who deposit to the bitcash Smart Contract Bank as well as those who contribute to marketing, business, and software development and other areas. Each new contributor will be rewarded tokens based on prevailing token prices. (Update font in these paragraphs)
Types of Partners
Regional Community Growth PartnersWe are looking for key opinion leaders in different countries to grow the number of platform users.
Capital PartnersWe are looking for those who will be active partners that can provide capital to fund our operations.
Infrastructure PartnersSmart contracts and blockchain infrastructure need a formal process for upgrades and security using multisig permissions. We plan to have more infrastructure & multisig partners as we grow.
A Virtual Partnership Organization
The bitcashBank is formed as a virtual partnership organization. We have a unique implementation of a decentralized autonomous organization (DAO). All partner members are expected to be active participants of the business. The basic activities expected for each member is to vote on business operations and to promote the platform.
To run a successful organization, we need specialists in all areas of business administration, sales & marketing, product & software development and infrastructure. Hence the bitcashBank is composed of partners as individuals or other organizations.
bitcashBank tokens represent equity interest in the business partnership. The capital contributions from all members plus all retained earnings will be held in a smart contract pool and be used to grow the business.
You can earn partner interest in bitcashBank tokens for your contributions. If you are interested please reach out to us. We are always looking for new partners to join us in our journey to financially empower the world.