Qubitica — A Project Rundown on Altcoin Magazine
Qubitica — A Distributed Enterprise
Hey, guys! So according to your website, Qubitica is a community of blockchain and AI experts developing and investing in products of the future. Can you elaborate on this, and tell us more about Qubitica?
Qubitica started in early 2018 with the idea of building a community of IT developers. A community of freelancers and self-employed. The idea is to let all members be part of a distributed company. You do not work as an employee at Qubitica, you work much like an owner or founder. You can participate in decisions about which projects to do next and look at some finances. Currently, most of our developers like to work in blockchain and AI, so our focus here is the natural result of the decision-making.
Qubitica for developers — what can you offer developers, and what can they offer you?
Developers here have a steady pipeline of projects they can work on. They can also use our network for their own projects, e.g. our news networks or our full Ethereum node. We develop tools only for our community in many areas. Just because it’s fun to share good products with like-minded people.
The developers give their experience to the community for free and our normal payments for programming are also competitive. The community pays only for results, not for the time someone uses. Qubitica sells many of these products to third parties, so we have a portion of our income. On the other hand, there are Fintech developments, which we also use to generate income directly through cooperation with some investors.
Qubitica for investors — how do you acquire investors, and how do they invest in the “trends of tomorrow”?
The best investor we are looking for is an IT entrepreneur or a company that also enjoys working in Qubitica. The difference to a normal developer is that he gives us a product or almost finished product for sale. Then he gets more shares of our token and bigger influence. An investor can also be passive, but right now we do not give many investors the chance to invest into Qubitica if they do not give something we really need. Overall, we are not looking for a classic investment (cash for equity). We are looking for investors who bring in IT products or a distribution channel. When you think about the dimensions of our distributed business, you should delete the word cash here.
Then an investor is automatically part of this distributed company. For example, if we have a new project that will distribute a new token, he may receive shares like any other member.
What are some of your solutions? I see one of them includes a crypto news site, that’s pretty cool.
The news pages we have were built on the idea of having a blockchain-based framework. But many developers also asked how they can use Qubitica to have a free platform for their own products. So, we let people work on it. Now, the blockchain framework aspect is not too important, but the reach of all news sites is pretty good. Some developers are authors in their personal field, here. Qubitica loves to give it all to our community for free. Where do you find this elsewhere? We may also sell advertising on these, but the market is tough, and we will wait for a better opportunity and until our own ad solution is ready. We will not stop by 3 websites. I guess we will have 7 news websites for special purposes at the end of this year.
One of our AI approaches is to define a formal language for typical AI applications. That’s pretty crazy and our approach is a little bit like we would all work at a University. No income but very fulfilling. This AI programming language is one of my personal passions, at the moment.
Can you tell us a bit about QBIT — what is it built on, and what will it be used for?
QBIT is an ERC-20 token that we use as a ticket to our community and as a currency for evaluating projects. You can only use the services and ask for tenders if you have a sufficient amount of QBIT. We used an ERC-20 token because it’s easy to store and share. Ethereum is a good DLT, but we do not focus on it. For legal reasons, QBIT is currently neither equity nor securities. But they are valuable, e.g. as you can use them to get projects. We also do not sell QBIT into the market for funding. Our plan is to integrate the STO approach into the existing QBIT in the future. That would be useful, but only if we have the right legal framework here in the EU.
What are your plans for the next 2–3 years?
Qubitica wants to bring decision-making and voting to a more transparent level. The same applies to finances. Here in Germany everyone has the right to inspect financial statements of larger companies at least once a year. We believe that smart contracts and DLT will help us here. Personally, I think Blockchain and AI will be good in the next 2 years to be the main projects, but maybe we’ll turn some parts into a marketing and publishing company. Good authors and good quality are the general problems here and we have it for free.
What’s the overall vision for the company?
No one should have a big amount of the company and a management team is regularly elected by the QBIT owners. I think a management team is necessary for many small decisions every day, and it is also good to have spokespersons for the company. Most scientific research indicates that distributed companies need management, and I like that approach as well.
Who’s on the team, and are you looking to expand?
Right now, I’m the speaker and run the management as long as we develop the idea. Also important in the team are some people who wanted to be involved from the beginning, but also some developers who came in early 2018. What I see is that most people like the idea of a speaker and want to be in the background and do their programming. In fact, almost anyone who’s really an IT nerd wants to work that way, including me. I hope I can pass the speaker and management duties on to another person or company in the next few years.
Yes, we would like to expand with more ideas our community has. This leads to more developers and experts. Maybe 50% more members would be healthy for 2019.
Where can we follow you online, or otherwise support your business?
You can only track about 25% of the activity on our online channels. We have a lot of work that is hidden from the public. Almost all of our AI developments are confidential at the moment. On Twitter, however, we publish all the important news and you get almost daily an update.
The best help for us is when people understand what Qubitica wants to be and what the value of a QBIT is. So, we can talk about opportunities and avoid disappointment.
Anything to add before we finish?
The initial working capital came from my IT company, and we did not make an ICO. We do not have the problems that many ICOs currently have. Nobody had to invest money in Qubitica. We all only invest work and that is wonderful entrepreneurial.