Anshul Gupta
Feb 23, 2018 · 9 min read

“Everything in Ranchi Mall is henceforth a Blockchain Contract. The incorporation is on blockchain as a Blockchain Contract. All products are Blockchain Contracts. Every Blockchain Contract has an opening valuation and a running valuation as the contract grows. Every contract has an administrator who is responsible for the contract.”

— Rohit Tripathy, Founder Ranchi Mall

Exciting things are happening in the business world due to the emergence of blockchain technology. Blockchain makes room for a new, collaborative and individually empowering means of doing business without borders and without regulatory organizations or other intermediaries.

The current way of putting business agreements onto the blockchain is called a smart contract for which all the decisions, once coded by the contract creators are then done automatically by software. Ranchi Mall has innovated a concept called Blockchain Contract which assigns a primary role to human judgment in blockchain-based contract decisions. Human judgments are superior to machine judgments in matters of unexpected events that can occur during the course of a contract. As a result, Blockchain Contracts perform much better than Smart Contracts in real world scenarios where uncertainties exist. Blockchain empowers people in two ways that have up to now not existed — a) the ability to legitimize innovation and new products without seeking approval from governments and b) the ability to create financial assets out of non-profit based transactions. If a cause has followers, it can be funded very easily on blockchains which is normally unfundable in a government-based legal regime. For instance, on blockchain, ten people could create their own bank without seeking a license from the government. In a central banked dominated banking system, a bank cannot exist unless approved by the central bank. Another new possibility, a financial asset can be created out of a social cause and the gains from that financial asset will be able to fund that social cause as long as enough people feel for it. In a non-blockchain world, only donations and charities can fund a social cause whereas in the blockchain world a social cause can be funded by profit-seeking behaviour in addition to donations and charity. A Blockchain is of no use until it can get people to cooperate toward a common cause. That common cause has to be expressed in terms of obligations and benefits of all parties involved in the cause. Obligations are what the parties perform and benefits are what the parties gain as a result of their performance. Blockchain Contracts are an expression of obligations and benefits of all parties involved, as written on the blockchain. Another way of looking at it is that blockchain is a technology and a Blockchain Contract is the human application of that technology. Blockchains are useless without Blockchain Contracts. Human innovation in blockchain is at most a technological innovation, but human innovation in Blockchain Contracts is a social innovation which can transform human lives. When we speak about blockchains being revolutionary, it is the Blockchain Contracts, rather than blockchains themselves which are the cause of the revolutionary transformation. That is the reason why focusing on Blockchain Contracts rather than blockchains would yield greater dividends for mankind. This is why Blockchain Contracts is the core pillar of Ranchi Mall’s efforts and innovations. L’Art Blockchain Contract is the application of Blockchain Contracts toward embellishing urban living spaces and enriching the lives of villagers and the general public. Under present day financial tools, the only way to fund such a project is with donations and charities or grants, but with blockchain contracts a financial asset can be created out of our innate desire to create more beautiful living spaces around us. The appreciation in the value of the financial asset creates the foundation on which this desire can be funded and turned into a concrete project. L’Art Blockchain Contract is a Blockchain Contract which enables beautification of urban living spaces through financial gains that will accrue as participation increases.

Details of Ranchi Mall L’Art Blockchain Contract?

A Blockchain Contract is a tradeable agreement recorded on a blockchain. Its valuation changes as per its performance. Its aim is to ensure successful execution of projects being tracked on the blockchain. It is a contract between the executor and the internet community. Each Blockchain Contract consists of its project’s, objectives and milestones to be met, an opening valuation, a running valuation, an administrator and a team working on the project. Contracts recorded on the blockchain cannot be tampered with.

Ranchi Mall uses FLO as the blockchain for recording contracts. Ranchi Mall is the executioner of all Ranchi Mall Blockchain Contracts. Ranchi Mall is itself incorporated as a Blockchain Contract. The L’Art Blockchain Contract involves all of its FLO related projects.

Elements of a Blockchain Contract:

· Projects of a Blockchain Contract are its actionable assignments.

· Milestones and objectives of a Blockchain Contract is the checklist for its projects.

· Administrator is the person responsible for managing the Blockchain Contract by making sure all milestones are met. The running valuation of the Contract depends, to a large extent, on the abilities of the administrator.

· Opening valuation is the initial value of the contract denominated in a cryptocurrency. For Ranchi Mall, all contracts will be denominated in RMTs (Ranchi Mall Tokens). In all, 21 million RMTs will be released as part of a 14 phase ICO (Initial Coin Offering). Two phases have already been concluded at the time of writing on 3rd February, 2018. Ownership of all released tokens is public and full details are available at Ranchi Mall Exchange.

· Running valuation is the current valuation of the Blockchain Contract denominated in RMTs. If the contract meets its objectives and milestones, its value increases. If the contract fails to meet its objectives, the running valuation of the contract reduces. The running valuation of the contract will be decided by the market over the long term. However, in the short term, the running valuation is decided as per a pre-agreed set formula based on meeting milestones and objectives.

Now that you understand Blockchain Contracts, let’s dive in and learn about L’Art Blockchain Contract

L’Art Blockchain Contract — Element 1: Projects

The L’Art Blockchain Contract currently has two projects:

1. Arsande Art project.

2. Develop a network of artists and villages.

3. Develop a sustainable tourist road map of the villages and connect them all together.

Project 1: Arsande Art project

Create life-sized wall murals on the walls of village of Arsande, Ranchi, Jharkhand, India. The uniqueness of this project would be a collaboration of tribal artists from the various tribal villages of Jharkhand, where there is already an ongoing culture of art and wall murals, overseen by the famous artist Suresh N. Nair and his students from BHU (Benares Hindu University) art department.

The wall murals will be done with cement, sand and natural colors because they are long-lasting and cost effective.

We plan to document the collaboration and generate short creative content for social media, to promote the project and build a platform for future projects with similar intentions.

There will be three tribal artists, eight students from BHU along with Professor Suresh K. Nair and some helping hands for mixing the cement and sand for the walls.

Everything will be organized with a two-member team, one who is a local driver and videographer. They will work under the guidance of Anshul Gupta, the administrator and creative content creator for this project.

A parallel team will promote the content on different social media platforms and online journals to bring attention to this unique social art project.

We also plan to connect with the state government to bring attention to this endeavor and create future collaborations with them for other villages.

Lastly the details and content shall be shared with the Ministry of Tourism portal for further distribution to other targeted agencies and teams to spread the word for a new tourist spot for art lovers and travelers to Jharkhand.

The project cost is estimated to be at 16 RMTs for all the expenses and the costs of promotion.

Project 2: Develop a network of artists and villages

In this second phase, we plan to shortlist potential villages and local talent seeking the opportunity to unleash their creative expression on the walls of their villages. With the tendency for local artists to leave their villages and third tier cities in search of greater opportunities in the bigger cities, this creates a draw for local talent to fulfill their dreams locally.

The next step is to collaborate local artists and exchange their art works among different villages. This would bring variety to the villages and encourage the future generations to live through the styles and art forms from other communities and villages as well as their own.

A social media platform will be created sharing short visual stories from the villages and the lives of our unknown tribal artists. The stories will be shared on multiple social media platforms to spread the word to the four corners of the globe and bring attention to this unique art endeavor, involving the local peoples, their artwork and the beautification of Indian villages.

Lastly, a road map will be created for future collaborations with national and international artists coming to do art in these villages. Tribal artists will also have the opportunity to travel to other parts of the country or the globe to showcase their talent.

This will set the ball rolling for extending the project to other states of India to make the local art and tribal artists receive their due respect.

The cost of this project is estimated to be 150 RMTs with a timeline of two years for the entire project.

Project 3: Develop a sustainable tourist road map connecting the villages participating in the project

On the third and final stage of the project, we will bring together the efforts of the local and national artists and connect all the villages that have been beautified on a village art road map. We will encourage tours for national and international travelers looking for new experiences.

To facilitate these tours and keep them sustainable, we will provide accommodation in simple yet comfortable mud houses for the tourists who visit these villages. In addition to appreciating the art and nature, this will provide them with an enriching and authentic local experience.

People in each village will be trained to accommodate the tourists and generate livelihood and income for the locals. This creates an incentive for villagers to keep their villages clean and safe.

We intend for our project to become quickly self sustaining and for it to generate enthusiasm among other villages to become part of our road map and develop in the similar fashion, by developing their local artists and traditions.

The cost for this step is estimated at 600 RMTs with a timeline of five years.

Element 2: Milestones and Objectives

Project 1: Arsande Art project

Initiate the vision by a pilot project which beautifies Arsande village, in collaboration with tribal artists and famous wall mural artists.

· Develop creative content.

· Create social media platforms to showcase the content.

· Train a core team to carry forward future projects for L’Art Blockchain Contract

Project 2: Develop a network of artists and villages

· Shortlist villages around Arsande, Jharkhand which have mud houses and the potential to be an ‘art canvas’ for our artists.

· Shortlist local artists from the villages willing to participate in the project by painting art onto the walls of their mud houses, sharing their art with other villages, collaborating with other artists and, learning from each other.

· Develop a skilled core team of locals to manage this network and make collaborations with national and international artists and art schools to encourage them to visit our villages.

· Create a skilled team to create visual content in the forms of photos and videos of our projects.

· Create a skilled team of professionals to manage the projects’ social media platforms and spread the word on this unique endeavor.

· Tie up with the concerned government agencies to gain their support and immunity against any obstacles and, use the government platforms to share our content on this social project.

Project 3: Develop a sustainable tourist road map connecting the villages participating in the project

· Develop a tourist map of participating villages to encourage tourism.

· Tie up with the ministry of tourism and local tour agencies to propose tours to the villages.

· Develop infrastructure in every village for the travelers to stay and experience a unique and exotic village experience.

· Develop skilled manpower in every village to accommodate the travelers.

· Create alternative livelihood opportunities for the locals and generate incentives to keep the villages clean and safe for the travelers.

· Finally make the whole project self-sustainable where the income generated from tourism can fund future potential villages in Jharkhand and across India and bring about a social change through Art and the local artists.

Element 3: Administrator

I am Anshul Gupta, the administrator for the L’Art Blockchain Contract. I studied film at the prestigious La FEMIS and CLCF film schools in Paris, France and have been working with international producers on TV and film projects since 2006. I also travel throughout India and the world assisting and working with world famous photographers. I have had exhibitions of my photography projects in Romania and Poland.

Element 4: Starting Valuation

Project 1: Arsande Art project — 16 RMT

Project 2: Development of a network of artists and villages — 150 RMT

Project 3: Development of tourist road map of our villages and connecting them all together — 600 RMT

Element 5: Running Valuation

There will be a 100% increase in the value of each of the projects once all the milestones are met. The running valuation will be updated periodically.

Ranchi Mall

Global | Transparent | Trust-Based | Creative | Innovative | Collaborative | Borderless | Officeless |

Anshul Gupta

Written by

Ranchi Mall

Global | Transparent | Trust-Based | Creative | Innovative | Collaborative | Borderless | Officeless |

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