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Qtum Blockchain Project releases Economy Whitepaper
The Qtum Foundation, the organization overseeing the development of the Qtum Blockchain project, released their economy whitepaper.
Titled “Qtum Blockchain Economy Whitepaper”, it outlines the Foundation’s structure, the blockchain, the team, fund allocation, token distribution, and use cases of the blockchain.
According to the official release, the whitepaper has been co-developed in collaboration with a Big Four accounting firm, which will also assist in the development of Qtum’s governance structure, project management, and risk management. The Qtum Foundation will oversee the development of the Qtum Blockchain, advocate transparency, and promote its open source ecosystem.
The design of the Foundation’s governance structure mainly considers sustainability, management effectiveness, capital use and preservation for the Qtum project. The Foundation consists of various committees, such as Executive Judgment, Code Review, Finance & HR, as well as Marketing & PR. The different committees will work in cooperation to manage Qtum’s daily operations and special occasions with detailed operational procedures and rules.
“We are publishing this economy whitepaper because we want the community to know we are disciplined and well organized. Most blockchain projects lack this vision when they are starting, and it’s just another fundamental difference that will help make Qtum a success,” said Patrick Dai, founder of Qtum.
The whitepaper specifies an array of services, designed to bridge the still existing gap between blockchains and the business world, by allowing smart contracts to adhere to changing commercial rules and regulations consistently. These services will also enable Qtum’s smart contracts to efficiently interface with real-time data inputs from stock markets, weather forecasts, news agencies, and the like. These augmentations have far-reaching implications for the utility of the Qtum blockchain.
Qtum’s whitepaper also details the Foundation’s plan to establish an interface array between the Qtum Blockchain and legacy business entities and government bodies.
“Qtum’s goal is to be the most stable, user-friendly blockchain for individuals and businesses. We want people to know who they are working with, and who’s behind the code,” added Dai.
Last month, Qtum raised $1 million in funding from a number of notable entrepreneurs in the cryptocurrency and blockchain space including ethereum founder Anthony Di Iorio, OKCoin CEO Star Xu, BitFund founder Xiaolai Li and Fenbushi partner Bo Shen.