A small group of elite blockchain developers have announced the upcoming ICO (initial coin offering) for a new digital currency project called VIVA. Based on a three tier, economically stabilized digital currency framework, the project incorporates innovative technologies that not only eliminate the extreme volatility that plagues other digital currencies, but has the potential to provide long term stable recurring income for all participants.
On May 1st at 8am EDT, the VIVA team will offer exactly 6,500 VIVA Crown coins to individuals and organizations wanting to join the VIVAconomy as founding members. Each VIVA Crown may be purchased through the TradeQwik.com currency exchange. You can buy VIVA Coins right now on TradeQwik where it presently trades. Unlike other ICOs, the VIVA Crown ICO not only allows the participants to own the currency, but also conveys important rights within the VIVAconomy.
In a recent interview William Banks, CTO and lead architect of the VIVA Project, explains, “Today every transaction is like opening and closing a leaky faucet. Inevitably, value is lost – usually into the pockets of the 0.1%. In the VIVAconomy each and every drop of value is recovered and equitably returned to the individual people who participate in the VIVAconomy.”
This streamlined distributed transaction system constantly feeds each participant’s share of the VIVA liquidity pool – a long term asset that compounds daily based upon activity in the network. The goal is to provide stable, recurring income for each participant. Simply put, the VIVAconomy invests the value generated by each transaction in the individual members instead of ballooning corporate balance sheets.
The technological underpinnings of the VIVAconomy are, by necessity, far more complex than those of any traditional fiat, digital currency or crypto currency. The ecosystem includes three interrelated currencies, “VIVA Crowns” (VC), vX (vUSD, vEUR, etc) and “VIVA Coins” (VIVA). The core functionality of the VIVAconomy is derived from the open source “Hyperledger Fabric” which is being evolved into a new multi-dimensional on-chain graph called UltraLedger.
According to Mr. Banks, “until now digital currencies have remained on the fringe due to three principal handicaps: their volatility, the difficulties of being accepted in the real world and their inability to offer a clear value proposition to the public at large. The VIVAconomy solves all of these problems and more.
First, our currency framework assures that VIVA coins will freely fluctuate within a stable range of values, set by the Crown Holders and managed automatically via our absolutely unique supply side control mechanisms. Second, our ATM network, which has been operating for over a year, provides an easy way into not only the VIVA ecosystem, but the entire digital currency world. Third, VIVA backed Mastercards, make it easy for people to interface directly with the traditional financial system in a manner that is far more natural than any other currency. Lastly, but perhaps most importantly, the plethora of business applications that we are implementing guarantee a consistent influx of energy into the VIVAconomy as we actively recruit businesses to utilize the power of the VIVA infrastructure.”
Dennis Lewis, CMO for the project, adds, “This is truly a unique opportunity to get in on the ground floor of an amazing project. During the ICO we are offering 6,500 VIVA Crowns, but only 42,000 will EVER be minted and after the ICO only 1 Crown will be minted each week. Crown Holders play a fundamental role in guiding the VIVAconomy and are intended to be a prestige instrument used to further your own business activities.”
For detailed information on how the VIVAconomy works, readers should visit www.vivaco.in and download the project’s white paper. Media requests should be directed to Dennis Lewis by email at [email protected] and of course please feel free to visit chat.vivaco.in to talk with us in person.
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