Blockchain & Cryptocurrency Business | BURN Token the Liquidity Protocol
What Blockchain and Cryptocurrency can do for Business Solutions in an Automated Smart Contract Liquidity Ecosystem.
30/07/2019
In my first article we looked at the toolbox we needed when entering the transition for businesses to a Blockchain Solution, “Proof of Concept”.
“Blockchain & Cryptocurrency Business | The Toolbox to a Value-Added Approach”
Now let’s take it a step further and build our “Proof of Utility” — The BURN Token into a business. (I think this is the big stumble block for most CEO’s and their teams).
When adopting a Blockchain Solution (and for all relative purposes on a decentralized, open-source Blockchain).
Blockchain Overview
1) Improving Productivity and Quality.
2) Increasing Transparency amongst Partners.
3) Reinventing Products and Processes.
Let’s say we are tasked with molding a Blockchain Solution for our supply chain in the minerals industry. Let’s take coal as an example as it is in the top product list for world freight distribution — weight category. Our coal distribution passes through many hands-on it’s local and export path. Mining the resource, transportation methods like shipping and auditing processes to connect the invoicing and settlements. In this supply chain, there are many variables, resource price change, visibility and timeline expectations, changing rates affecting the invoicing and third-party costs like auditing firms.
Blockchain Integration:
1) Traceability and therefor Accountability, on an Immutable Blockchain Ledger.
2) Being able to audit that the data has not been tampered with, becomes Pro-Active.
3) Open Source Networks with Cross Chain Capabilities.
Blockchain clearly provides for many solutions here. Just looking at this price chart of Coal, if an average shipment from South Africa to India takes 26 days, can you imagine the cost savings that could have been achieved avoiding the price drop in any one of these periods above.
For our relative use case, The BURN Token I’ll keep this article specific to our scenario.
Now, how and why do we add our “Proof of Utility” — BURN?
What is BURN Token? https://theburntoken.com
“A self-annihilating Digital Asset that does the deflationary role through its smart contract. In other words, Burns, as it Trades or Swap’s, increasing in value by it reduces in quantity.” It is also coupled with a secure Liquid Ethereum Pool.
Let’s make up a hypothetical situation. I’ll be CEO of COAL.org I am tasked with integrating the companies supply chain structure on our newly adopted Blockchain Ethereum.
My Technical Designed draft to the IT Department needs to fulfill specific metrics. I need to Reduce Pain points and Capitalise on Opportunities.
Overview: Technical Design, Functional & Non-Functionalities
Technical Design:
-Create a Coin/Token Ecosystem.
— Pegged to Coal $ Price.
— Safety: with Automated Liquidity Provision: Introduce Deflationary Token as a Hedge let’s call it BURN (BURN) to facilitate Third Party transfer through our smart contracts. Ethereum which provides for the optimal Liquidity pool ETH/BURN/DAI/$
— Rewards: Reduced known Pain point metrics, (ie. improved shipping rates, fraud, tracking), let’s call it CINDER (CNR).
— Smart Contracts: Automation of processes, real-time functionality, data distribution schedules.
— Scalability: Blockchain’s known work in progress.
Functionalities:
-Ensure the Blockchain mitigates across a single shared source to align various rates with agreed corresponding T&C’s (Extracting Data Tracking & Validation, Validation of Invoicing processes & Reconciliation, Multi-Level Trading of Assets, Third Party and Cross Border transfers, Regulatory compliance).
-Wallet/Vault: infrastructure.
-Gridlock: Looking at key historical pain points and resolving those with the new technology.Non-Functionalities
-Optimize Closure, (Settlement).
-Ensure Privacy culture’s on various levels.
-Platform Resilience.Conclusion:
The Smart Contract is key to the intrinsic combination of the Technical Design, Functional & Non-Functionalities.
-Adding a metric like the BURN Token would simply provide the smart contract with a safe liquidity protocol within the ecosystem.
-The multiple settlements structures are automated, validated and audited.
-Proof of Supply Chain with the introduction of a rewards system.
-Privacy and Safety protection within the Blockchain Ecosystem is enhanced and meets all regulatory compliance.
As I have mentioned this article was constructed to point out the real-life functionality of The BURN Tokens Smart Contract and the concept of COAL.org a summary of actual use cases currently being built in the Financial Banking services sector in various parts of the world.
Recently Audited and Verified The BURN Token brings a much needed Smart Contract to Blockchain Ecosystems, providing much needed Decentralized opportunities for real value Digital Assets in Business.
By Morne Olivier #morneolivier
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Core References used building the case study.
Article 1 in the Series: BURN The Deflationary Token Revolution is here.
The BURN Token Telegram: https://t.me/burntoken and find out more about the creator Scott
