Time New Bank (TNB) is a Blockchain-based time-value transmission platform developed by the Miao´A International Timechain Company (MIT).
The Time New Bank Platform aims to organize a decentralized, international, secure and transparent network of markets for the time-commodities exchange. The platform is based on the Ethereum Blockchain, and its protocol describes four types of designated parties on the network:
Time Exporters are the parties who ultimately execute the commitment to spend a certain amount of their time providing services for the time demanders. Exemplary time exporters can be lawyers, physicians, industry experts, tutors, or celebrities. The platform automatically assigns a score to the time exports and commodities that exporters provide, promoting ecosystem health and bringing value to the platform.
Time Demanders are the time commodity buying parties of the network. Demanders are motivated to consume time commodities to fulfill their personal requirements. The commodities consumed by Demanders will be provided by Time Exporters.
Time Investors are the community component of the platform that focuses on the asset-related aspects of time commodities. Investors are motivated to obtain profits through investing in time commodities offered in the primary market and monetizing them on the secondary and tertiary market layers.
Time Asset Operators are the businesses and institutions with a mutually beneficial relationship with the Time New Bank ecosystem. Time Asset Operators introduce time exports and time commodity trends to the market and make connections with the relevant Time Investors.
How Does Time New Bank Work?
In the Time New Bank protocol, Time Exporter commodities are demanded and recognized through the use of an analytical model that leverages the project´s decentralized value transmission layer. The TNB cryptocurrency will be used to settle transactions and as an estimator of the present and future value of a given commodity.
Every time a transaction is completed, Time Users can materialize the traded commodity or transfer it to secondary markets. Time Investors are able to invest in commodities on third layer markets, fulfilling multiple layers of demand in a single solution.
The TNB Cryptocurrency is an ERC20 token intended to match people's time-value to Time Exporters and Time Demanders or Time Users. According to the Miao´A point of view, the value of time commodities is related to the value radiation effects of Time Exporter actors, which means the Time Exporter ability to monetize on his or her skills. Time New Bank Tokens can be held in any ERC-20 compatible wallet.
Tokens and ICO
The maximum supply of TNB tokens is 6 Billion, with around 1.62 billion already in circulation. TNB can be bought and sold at several online exchanges such as Binance, Bitfinex. Cex.io, Huobi, Okex, CoinBene and BigOne.
The Times New Bank Team held an Initial Coin Offering from November 18th 2017 to November 23rd 2017. The crowdsale managed to raise around $8 Million for the project.