Today’s banking system is adversely affected due to the lack of three major qualities, namely, liquidity, transparency, and accountability. The inefficiencies of traditionally styled financial infrastructure limits the global trade and economic growth. According to the statistics, $350 trillion in global assets are held and traded within the confines of the fiat banking system. To eradicate this problem, assets have to be moved and then traded exclusively on blockchain. This solution may also minimize the need for trusted intermediaries whose externalities have weighed negatively on global trade flows.
COMMERCEBLOCK:
It is the first technology platform to bring a melange of decentralized contract execution, trust minimized trade, on-chain derivatives and asset backed token issuance to public blockchains. CommerceBlock aims to give a novel and wholesome infrastructure to decentralize finance over the public blockchain as the base layer network, for example, Ethereum, Bitcoin, Litecoin and other decentralized ledger technology (DLT). The three layers are divided as such: on the top of that layer built the second layer network, consist of Lightning Network and Sidechains. In the last top layer there is Application Layer, where the CommerceBlock API is run.
CommerceBlock employs the BIP175 for the fluent functioning of the system. This proposal is utilizing hierarchical deterministic wallets as described in BIP-0032 and the “Purpose Field” in BIP-0043, this document specifies the multiparty pay-to-contract key derivation scheme outlined by Ilja Gerhardt and Timo Hanke. To provide a consistent way for pre-existing wallet developers to implement the specification, BIP-0032 is used.
The CommerceBlock APIs and SDKs will bestow the customers with a wide array of functionality in the form of well-tested libraries and highly available (HA) services. The vast libraries can interact directly with base layer public blockchains, layered protocols such as the Lightning Network and Sidechains as well as embedded consensus systems. Also, the CommerceBlock API enables the users to construct zero-knowledge invoices, conduct multiparty escrow, engage in templated in-channel contracts on the lightning network issue assets and utilize other carefully selected advanced smart contracting techniques found in peer-reviewed research.
ICO Details:
Details
Payment Method: BTC or ETH
Max Cap: $25M
Use of Funds:
50% Software Development
20% Operations
15% Open Source Community Development
15% Marketing
Distribution:
Token Sale 400,000,000 CBT 40.00%
Company 300,000,000 CBT 30.00%
Partners 300,000,000 CBT 30.00%
Why COMMERCEBLOCK?
1.Promise of novel standards: CommerceBlock is committed to open standards. All their codes will be open-source and available for peer review.
2.Trade flow features: CommerceBlock provides pre-packaged, paid-access trade flow templates to its clients. These templates abstract away the intricacies and pitfalls of trade management.
3.Web portals and other tools: The CommerceBlock web portal will provide both prepaid and subscription models for users who wish to access our tools for building smart contracts and issuing/distributing assets. API users will pay per API call and their SDKs will be available for free downloading.
4.Enterprise integrations: CommerceBlock does bespoke implementations of its toolset for enterprise customers. Enterprise customers can use both our APIs and SDKs. Pricing is determined on a case-by-case basis, and revenue shares/partnerships are considered.
5.Third-party involvement: CommerceBlock has made pathways for integrating third-party standards in identity, storage, and security. For example, they will make it easy for developers to integrate Ledger wallets into their product offerings.
CommerceBlock has regular integrations with clients in the financial and commercial real estate industries. All of their current and future product offerings will be based on peer-reviewed research authored by experts from the open source and academic cryptocurrency communities. Also, the team of COMMERCEBLOCK envisions a bright future for both the company and the customers. The platform, COMMERCEBLOCK will capture the market and the hearts of the users very soon.
For more details visit
Website: https://www.commerceblock.com/
Written By: karanj
