ITEM BANC

Introduction

This is the most advantageous time to introduce Item Banc, because the world needs technology that can deliver evaluation information. Global markets are declining in available loans, and valuation methods are unstable. Markets need a new method to ensure fair market value for all countries.

Item Banc can put a new pricing mechanism on the market. For farmers and manufacturers, Item Banc can capitalize their production. For distributors, Item Banc can deliver marketable products to provide evaluation information.

For the community, Item Banc can bring fair market value. Also for countries, Item Banc can evaluate currency. Item Banc will provide a new paradigm for providing currency information to people.

Purpose

Item Banc is a technology engine designed to create global parity valuation information. Data for the engine is derived from a basket of basic human need goods that are captured and tokenized by smart contracts with producers and organized by Nation. The entry point and growth plan for Item Banc in a community proves a realistic acceptance that to create robust trade the technology must first address the basic needs of the people and their incentive to produce. Item Banc can deliver confidence, security and freedom in a currency-challenged community with a new currency that can grow smart, productive economies.

STARTING IN RWANDA

Africa is made up of 54 countries which trade in 56 different currencies. African countries are endemic with inflation and a disconnect between economic performance and currency value. The disconnect is deepened due to the inability to trade directly across borders. There is no common trade currency but the US dollar and this creates major friction in the way of fees and time delays.

The aim for Item Banc is to in some small way allow the traction of goods forming basic needs between countries to secure valuation and allow the most disadvantaged to transact efficiently across boarders.

Rwanda sits in the middle of central Africa, is stable and has advanced banking and financial structures. Rwanda boasts strong legislation and governance and low incidence of corruption.

From an African perspective this makes Rwanda an attractive test bed for Item Banc to initiate its roll out. In addition, the Smart Africa head office in Rwanda has the ability to deal across multiple regimes. The completion of a rail link to the coast will make Rwanda a logical land based port for goods to be stored and distributed.

Internationally Rwanda is seen as the leader in innovation in Africa and as such has and continues to receive strong support and attention from the international community on initiatives that it is launching. Item Banc represents a bold step in the process of creating a trackable, stable, corruption free trading platform to facilitate the transfer of basic goods and value between neighbors and countries on the continent and Rwanda has the positioning to execute. Once Rwanda has proven the technology it can begin in other Nations and continents.

Location of Organization

Rwanda – Coin Development Team

Rwanda – BHN Warehouse Pilot Team

Item Banc Engine Team to be determined.

Headquarters for IBF to be determined.

Token Description

The Item Banc Token is backed specifically by products that are needed in daily life. The core set of commodity products that back the currency are described as BHN or Basic Human Need products.

These products are in five categories: Food, Building Materials, Basic Clothing, Paper Products, and Hygiene.

Token Function

Producers are given the Item Banc Token in a smart contract exchange for their BHN products. The products can be stored by the producer or moved to a common warehouse. Producers include, for example; Farmers, Manufacturers, Distributors, and Importers.

Consumers who have fiat cash money can exchange for Item Banc Tokens from the producers which would allow for purchase of BHN items at discounted rates. Consumers can also work for the producers to earn Tokens. Consumers can also trade or sell other goods or services for Item Banc Tokens.

Token Value

The value of the Item Banc Token is based on the collective value of the contracted products. The values of the products are verified in the smart contracts by the Item Banc Engine; a technology that creates value systems based on what commodities are available where at what relative value. The model is also able to run during periods of hyperinflation by pegging the value of BHN to sidestep local inflation. Contracts can be partially managed by an oracle (trusted person) in the community if the value of the item contract is not yet calculable by the technology. The contracts are recorded and maintained on the blockchain.

BHN (Basic Human Need) Product Categories and examples:

• Food (relatively non-perishable): Rice, canned meat, bottled water, lentils, oats, coffee, tea.

• Shelter (Building Materials): Lumber, block, rebar, nails, basic tools, metal.

• Basic Clothing: T-shirts, Jeans, socks, underwear, sandals.

• Paper Products: Toilet paper, copy paper, diapers, plates.

• Hygiene/Basic Emergency Supplies: Soap, cleaning and disinfecting supplies, blankets, emergency kits, toothpaste and brushes, flashlights, basic cell phones.

Technology Creation

The Item Banc token technology can be created on an existing protocol such as Cardano that allows for decentralized proof of stake governance and does not require mining. Simple interfaced smart contract forms need to be created that can operate on the blockchain.

The smart contracts will be for products in the target community that qualify as BHN products or additional community assets that will be staked to the currency as agreed. A log of the commodity products staking (traded for) the Item Banc token, with product values needs to be automatically recorded by the smart contract on a decentralized Item Banc ledger.

The contract legal language can be based on existing legacy corporate trade contracts and can incorporate regional legal requirements where implemented. Corporate trade contracts attached.

Method for Proof of Stake Governance

The Item Banc model for securitization of cryptocurrency involves smart contracts that assign or stake an asset against the currency. Unlike loan platforms, the crypto is issued (created) by smart contract when the asset is staked and the crypto is burned when the asset is revoked.

The crypto can be exchanged for any goods or services or fiat or crypto and the value of the crypto will fluctuate based on market. The incentives to contract an asset for the crypto are to profit from the liquidity, a general rise in crypto value as additional assets are staked to the crypto and also to make additional markets for the asset. In a preferred model the staked assets are commodities and BHN (basic human need) hard goods of a minimum value ($10,000 and up, for instance).The staked assets will be transparently published by smart contracts on an accessible site and organized by asset category, location, and original contracted value. This information is managed by the Item Banc Technology.

Alpha Testing Technology 1998-2002

Twenty years ago the Item Banc Engine was designed and documented. An application for patent was made to the US Patent Office on May, 1999 (60/132,779) and May 5, 2000 (09/566,265). The Item Banc Engine for Conducting Barter Transactions over a Computer Network by Virginia Robertson

A small team of programmers set out to test and code the design. Forty five independent building supply distributors in twenty states across the US agreed to contribute their live data for the test. The programmers combined live inventory data into a single system in South Carolina. The data consisted of non-productive stocks (items that had not sold for a year) and was tested on the artificially intelligent naming and categorization technology of Item Banc. The goal of the test was to refine the program design so that the Item Banc Engine could automatically commoditize Items given drastically different naming conventions across platforms and states. The system was able to identify and value the items.

Alpha Testing Commodity Trade 2002-2013

The next test needed to prove that non-productive commodity inventories represent currency failure (as they have no value). If the currency was misreporting value then these inventories should find their true value in a different economy. It was also necessary to prove the practicality of moving non-productive commodity inventories into markets where they could be revalued.

With the guidance of experts in the International Reciprocal Trade Association, Ruffin Trading Company, LLC tested moving non-productive building materials at every level of distribution including export. This testing lasted well over ten years but showed how commodity inventories that were non-productive (had zero value) in one economy could rediscover their commodity value in new markets, proving theory. The book, “Information Currency: The New Green” 2009 by Virginia Robertson documents the testing, the concepts and the algorithms.

ICO details

General information

Token: Ibe

Platform: Ethereum

Standard: ERC20

Qty: 1,000,000,000 IBE

Price: 1 IBE = 0.0005 ETH

Payment: BTC, ETH, USD

Soft cap: 5,000,000 USD

KYC: NO

Pre ICO

Qty: 5,000,000 USD

Start: 06/01/2018

Completion: 06/30/2018

ICO

Start: 01.09.2018

Completion: 04/30/2019

Tokens Sold Distributed Accordingly

• 20% Coin Development

• 20% Founder tokens

• 10% Item Banc Federation/IB Technology

• 40% BHN Stock and Operations

• 5% Advisors, Grants, Partnerships

• 3% Community via Air Drop

• 2% to cover token sale

Use of Token Development Proceeds

• 30% Open source software development

• 20% Legal Expenses, Licenses (FCA, SEC, etc.)

• 15% Marketing and Business Development

• 5% Operational Expenses

• 15% Real Estate Fund

• 15% Crypto Assets Fund

Protocol Decision and Related Benefits

The Ethereum protocol has the most market experience to date as a crypto currency market-entry tool for coin creation and as a smart contract launch platform. Given the breadth of tasks ahead of our team this protocol seems like the obvious place to begin. Our founding team has interest in a few newer protocols that do not require traditional mining, have faster transaction speeds, less transaction fees and governance models that may better fit our objectives. In time, (estimated after the fourth quarter 2018) as these protocols prove their ability to show endurance, we will review the options and port over. It is also quite possible that Ethereum may integrate all of these features (as they are working on most of them) in the near future.

ROADMAP

September 2018

Foundation team, training, marketing, warehouses, Airdrop.

December 2018

Selling a product and developing intelligent contracts, Airdrop.

April 2019

Real-time movement and development of the Banc Engine Dev, Airdrop team.

TEAM

HENRI THOMPSON- JOHANNESBURG

Funder

VIRGINIA ROBERTSON

Funder

ANTHONY SHORT

Funder

JORDAN GITTERMAN

Funder

Advisors

ANTOINE MUNYAKAZI JURU

Ambassador – Rwanda

ADAM KYAMATARE

Government Relations – Rwanda

ANNETTE RIGGS

Trade and Barter Industry

CHRIS FREEMAN

Design

NANCY SHI

Finance & Strategic Alliance

MARK THATCHER

Legal and Capital Formation

JOSE CASTRO SEGARRA

Business development

DOMINIC CHUAN LING TING

Greater China Sourcing & Business Development

TIM HEWAN

Financial Director Item Banc Rwanda

CHRIS WERNER

Business development

PABLO OLEA

Supply Chain Administration and Finance

More information contact :

Website : https://itembanc.nl/

Whitepaper : https://itembanc.nl/wp-content/uploads/2018/09/Item-Banc-V24.pdf

ANN Thread : https://bitcointalk.org/index.php?topic=5035679.msg46044660#msg46044660

Facebook : https://web.facebook.com/ItemBanc/?modal=admin_todo_tour

Reddit : https://www.reddit.com/user/ItemBanc

Twitter : https://twitter.com/item_banc

Telegram : https://t.me/joinchat/E6C0bk6e4d-9rUgSbSaD3g

Author : Upik05

BTT username : upik05

BTT Profile Link: https://bitcointalk.org/index.php?action=profile;u=2205131

Address wallet

0x6B4D2B44e4FB4648FE87029C4ddf00Da999127c4