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November 15 2017

ICO Alert Report: TNB

ICO Alert Report: TNB

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ICO Alert Quick Facts

  • Time Asset Exchange powered by Blockchain
  • 1 ETH = 20,000 TNB — Day 1=5% Discount
  • November 18, 2017 — November 24, 2017
  • 1,320,000,000 total available / 6,000,000,000 total supply
  • Investors include Aplus Capital and Everest Capital

What is TNB?

Time is one of the most valuable assets that mankind possesses, and in some points of view, the only valuable treasure a person can have. TNB (Time New Bank) is the only cryptocurrency issued by M.I.T., and aimed to shape time transactions, time commodity exchange, and time asset exchange powered by blockchain technology.
— The TNB Team

ICO Alert: What is the relationship between Miao’A International Timechain and Time New Bank?

TNB: “After conducting solid market research and analysis, combining the team’s strong offline resource integration ability and sales capacity, the team has constructed M.I.T (Miao’A International Timechain), a precision time-value transmission platform based on blockchain technology, to organize a comprehensive network comprised of primary, secondary and third market for time commodity exchange. “ — TNB Whitepaper
TNB (Time New Bank)is the only cryptocurrency issued by M.I.T. and aims to shape time transactions, time commodity exchanges, and time asset exchanges powered by blockchain technology.

ICO Alert: How does the Time New Bank token (TNB) function within the platform and why is it needed?

TNB: The M.I.T. platform is comprised of underlying blockchain ledger, M.I.T. time commodity exposition platform (entry portal), M.I.T. time commodity issuance platform (primary market), M.I.T. time commodity exchange (secondary market), M.I.T. time asset exchange (third market), APP, DAPP, enterprise service middleware, SDK, API, etc. TNB will serve as the value-conveying instrument within the platform ecology.

ICO Alert: Time exporters and time demanders will be two of the primary user bases on the platform, how do they operate cooperatively within the M.I.T ecosystem?

TNB: Time exports, bonded by signing smart contracts with M.I.T. platform, promise to convert their time to time commodities to allow commodity circulation on the market. Meanwhile, time exporters with a strong social impact will attract fans and followers from elsewhere to the platform in order to boost transaction activity. As the next step, M.I.T. will then convert time commodities to time assets to enter trading activities on M.I.T. time asset exchange.
Time demanders and time investors alike are only entitled to conduct transactions of time commodities or time assets by possessing a certain amount of TNB, which could primarily be acquired from third party exchanges. Throughout the evolvement, the increasing number of time demanders and investors will undoubtedly promote the demand for TNB, forming an enormous TNB buy-side market. When total demand for TNB exceeded the supply in circulation, TNB’s value will be pushed up to create large investment proceeds for both M.I.T investors and TNB investors.

ICO Alert: You explain in your whitepaper that the “lack of objective and well-accepted valuation standards for the value of time commodities” is a major issue within the industry. Can you elaborate on your argument and explain how M.I.T. will solve this issue?

TNB: After conducting solid market research and analysis, combining the team’s strong offline resource integration ability and sales capacity, the team has constructed M.I.T., a precision time-value transmission platform based on blockchain technology, to organize a comprehensive network comprised of primary, secondary, and third markets for time commodity exchange. M.I.T. aims to deliver a standardized system that fully expresses the value of time commodities based on how time exporters are recognized and demanded via scientific and systematic analytical models by leveraging its decentralized value transmission platform. In commodity value transmission process, TNB will be adopted as the settlement currency to accurately tell both the current and future value of the time commodities.

ICO Alert: At your early stages, adoption by high-valued celebrities and entrepreneurs will be instrumental in the success of the platform. How are you incentivizing these “exporters” to the platform?

TNB: At the early stages, celebrities and entrepreneurs will sell their time on Miao A Apps, their fans will buy the time, so these fans will have rights to see celebrities and entrepreneurs and ask them to provide different kinds of time services based on how much time he/she possesses. Fans can also contact celebrities and entrepreneurs via apps by sending voice messages, pictures, and so on. Once the time service is done, celebrities and entrepreneurs receive money for their time service. Fans who possess the time can also sell it to other fans via app if they do not need the time service. The price will fluctuate based on market demands.

ICO Alert: Can you take us through a specific user experience on the M.I.T. platform?

TNB: As a user, if he/she need time service from an attorney or any other professional service, the user can buy the time using TNB token and reserve the service, he/she can sell the time on public market if the service not needed anymore.
If he/she adores a celebrity, he/she can also procure the time for face to face communication, concerts, and so on. Also, the time he/she possessed can be sold on the public market. The user can hold the someone’s time for long time for high appreciation.

ICO Alert: How is the M.I.T. Foundation related to TNB and the M.I.T. platform?

TNB: The M.I.T. Foundation (hereinafter referred to as “the Foundation”) is the governing body of M.I.T., which is registered in Singapore. The Foundation is committed to the development, construction, and governance of M.I.T, promoting the establishment, evolution, and formation of the M.I.T. ecological community.

ICO Alert: Are there already other time-value transaction projects? Why would I utilize M.I.T. instead of the more traditional services for time export and time demand?

TNB: M.I.T. underlying blockchain ledger, as the core component of the M.I.T. platform, shoulders responsibilities e.g. bookkeeping, proof-of-stake, and search functions for the time commodity exchange, time asset exchange, and eco-cooperation partners. It guardians the safety and stability of all the transaction information on the platform and avoids forged records by human conducts, thus the ownership of commodities and assets is distinguished clearly and definitely.
M.I.T. eco-cooperation partners will be enabled to enlarge their cross-border business scope, achieve high-efficiency transaction and cost-effective settlement by purchasing TNB from third party exchange platforms. In addition, they could acquire TNB as early–stage investors and participate in the internal TNB settlement system.

ICO Alert: As a non-TNB/M.I.T. question, we like to ask for unique predictions for the ICO and cryptocurrency space in the future. Where do you see both in the next 3–5 years?

TNB: Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments, and it will shape the future finance. Cryptocurrency is the means to achieve this and our mission is to provide the products and services necessary for the crypto world to become the new mainstream. We believe in a world where everyone has access to premium services, not only the privileged few.

ICO Information
The ICO begins on November 18, 2017. There are a total of 1,320,000,000 Time New Bank tokens (TNB) available during the ICO, representing 22% of the total TBN volume. 1 ETH=20,000 TNB. There is a soft cap of 20,000 ETH for the ICO and a hard cap of 66,900 ETH.

TNB is an ERC-20 token and Ether is accepted as contribution. An ERC-20 compatible Ethereum wallet must be used for contribution and receipt of the TNB tokens.

Token Distribution Information
There are a total 6,000,000,000 TNB tokens being created, with 1,320,000,000 TNB available across the ICO. Tokens will be distributed to contributors immediately

Visit the TNB website for more information and the contribution address.

Allocation
27%: ICO
25%: Maintenance and operation
20%: Founding team
18%: Ecosystem user integration
10%: Angel investor round

Use of Crowsale Proceeds
40%: R&D
35%: Marketing and business operation
15%: Maintenance and security
10%: Capital reserve

Team
Vincent Lim, Founder
Linkedin
Vincent graduated from National University of Singapore with a bachelor’s degree in computer science. He is a former Dell executive and expert in data fields.

Andrew Wong, Founder
Andrew is a seasoned corporate executive with more than 30 years of Microsoft, Oracle and Akamai experience. He has strong experience developing full business processes in a technical company and translating the technical terms into commercial value for business stack holders. He has a bachelor’s degree of Management & Economics from Guelph.

Chris Weilacker, Founder
Chris served as an investment advisor for a China public holding company, and contributed to the M&As of 2 companies, allowing the public holding to become the only private company to obtain a carrier fiber license. He was also the co-founder of a start-up company providing a taxi calling service in China. He obtained his bachelor’s degree in business management from California Polytechnic University and has a strong computer science background.

Best Liang, Founder
Best is a seasoned corporate executive with more than 18 years of sales and marketing management, 10 years as an executive serving a large worldwide IT company, Open Text, HP and Akamai. He graduated from Harbin Institute of Technology (HIT) with a bachelor’s degree in computer science. He also has a degree of executive programme from China Europe International Business School (CEIBS).

Social Media
Telegram
Slack

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References
(1) TNB Website, TNB, (2017)
https://tnb.fund/

(2) TNB Whitepaper, TNB, (2017)
https://tnb.fund/pdf/TNB_business_white_paper_en.pdf?v=1.0.1

Topics: Blockchain, ICO, Cryptocurrency, Finance, Time