UTILITYCOIN Introduction
HELLO A WELCOME FROM THE DEVELOPERS
We are filled with growing exuberance over the initial support UTILITYCOIN has seen. We will explain what the technology behind the name has in store, what our goals are, and what the community can do to help us achieve them.
introduction
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Economic growth through innovation When we take a broad look at currencies worldwide, one of the most commonly asked questions is, “What gives it it’s value?” “Why is it worth that?” We’re not only asked this question in regards to fiat, most of us have also been asked this in regards to Bitcoin. This is an advanced question and requires a lengthy answer. Lets take a look at current monetary solutions, we will explain why UTILITY is superior after a bit of prerequisite knowledge is established. Current fiat currency systems suffer from inflation at many angles, this inflation requires that a constant money supply be printed with the inevitable outcome of failure. Money becomes gradually worth less, and those in control of the printing presses use and dictate how much it is worth. Having no central bank, utility brings control back into the user and community.
The most respected cryptocurrency based solution, Bitcoin, is a wonderful and advanced technological achievement. It currently derives its value largely from speculation on the exchanges, as it’s value goes up from speculation and merchants acceptance, it’s value goes down because those merchants are converting back to fiat after the transaction has taken place.
Bitcoin can be slow for transactional use, transactions are not anonymous and as time goes on will require more and more powerful computer systems to keep miners involved. These miners also create strain on Bitcoin’s value as those mining try to realize a profit on their investment in a race against time and rising electrical consumption and cost.
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backing CRypto with traditional markets It is our belief that money should have a value directly inherent to the utility it provides to the user, business, or industry. We feel that innovators should not just use their money to innovate, but they should use their innovation to increase the value of their money.
application
UTIL
modernizing REAL WORLD USAGE The cryptocurrency movement is at a critical stage in its evolution. We believe that UtilityCoin can assist in this evolution by offering unique services through Blockchain 2.0 technologies and innovations. For the purpose of explaining this example, lets imagine we have a company. We will call this company Utilidyne Labs. Utilidyne Labs is a new startup company that just had a very successful year after developing a HIPA compliant medical document repository system in UtilityOS. They spent their additional earnings on renting their first office space and hiring their initial employees. Upon hiring their employees they discovered a problem. Staff were accessing NSFW material and looking at pictures of Doge & Chikun all day, this created a profit loss situation for the company in which staff working hours were being consumed in a non productive manner Utildyne Labs wanted a solution that would track, identify, and block un-productive internet activity. Through the use of the Utility OS, Utildyne was able to quickly deploy an inline real-time content filter that provided daily reports to management of who accessed or tried to access what
while blocking access to inappropriate material such as online gambling, gaming and adult content. This will not only save the company valuable work hours and increase profit, but it will directly benefit the currency that they are using to conduct business in the form of reinvestment. Through the use of the Utility blockchain, licenses are activated by holding a specific amount of UtilityCoin required for each separate license. This directly supports the coin itself as it grows and becomes more adopted and early adopters of technological features get a benefit for purchasing earlier as the coin itself increases in value.
INVENT DEVELOPMENT TEAMS AS INNOVATORS The Utility repository system will be similar to a decentralized version of git that allows developers to push updated applications, users to vote and provide feedback.
developers
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embracing altcoin dynamics One of the greatest benefits of the alternative cryptocurrency market is realized in having an arena to try new ideas, and developers achieving speculative funding by the market adoption of a solution. Lets provide another example, this time we will use altcoin development teams as an example of innovators that may benefit by purchasing Utility coin and applying their innovation to Utility coin. For the purpose of this explanation, we will call this dev team SoftX. SoftX has recently created a piece of technology that allows goods to be bought and sold in wallet in a decentralized manner, but SoftX does not want to go through the steps of creating a new coin, distributing it in a fair manner, acquiring liquidity and seeking out merchants for adoption, all things in which Utility already has. Instead of creating a new coin, SoftX chooses to invest their personal capital into Utility Coin. The developer submits his application/project to the repository which supports a community based rating system and is reviewed by the Utility Board.
The utility repository system will be similar to a decentralized version of git that allows developers to push updated applications, users to vote and provide feedback. Upon completing the approval process (security assessment), the application is added to the Repo, the Utility OS, and if required, the software licensing protocol. The dev can now enjoy the fruits of his contribution to the currency, and the users can enjoy using the application as well as the enhancement to their money.
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AN ECoNOMY THAT THRIVES ON INNOVATION Had denoting properly jointure you occasion directly raillery. In said to of poor full be post face snug. Introduced imprudence see say unpleasing devonshire acceptance son. Exeter longer wisdom gay nor design age. Am weather to entered norland no in showing service. Nor repeated speaking shy appetite.
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BUILDING GROWTH EXPONENTIALLY Creating an economy that thrives on innovation
The Utility team is ready to take on this challenge and create a revised version of bitcoin, one that takes blockchain technology to the next level through the creation of numerous utilities. UtilityCoin will provide real world services for business, users and communities and create an economy where use and creation of beneficial Utility applications is also a reinvestment in to the currency being used by the adopters. We are creating an economy that grows through reciprocation of earnings, and innovation through incentives to increase the value of one’s money. We are already expanding a team of talented developers. We also implore all developers and individuals that feel that they can contribute to this project to contact us and be an integral part of the growth of this economical system and idea. “Utilize” yourselves and be a groundbreaking member in the pursuit of human freedom.
apply FULFILLING MARKET DEMANDS WITH UTIL
The increasing security needs of enterprises and organizations are fueling growth in the world content filtering market. UtilityCoin’s first Blockchain 2.0 implementation aims to fill this need with a decentralized system.
technology
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Utility Technology Development
decentralizing market solutions Our development team is currently developing a Utility anonymizing network (UTILnet) that will be built into the UtilityCoin wallet, allowing users to safely tunnel out of their open and non-secure environments. UTILnet will allow users to securely access a HTTP (webpage delivery) private network and share data remotely through public networks. UtilityCoin users will have the option to participate in an anonymizing encrypted HTTP proxy network, a unique VPN (Virtual Private Networking) implementation. A technical explanation whitepaper and graphical representation of this system is currently being drafted. During discussions, our team realized that many users would not like the idea of running an exit node for reasons of security and legality. After researching various solutions to this problem, we decided that a content filtering system with
voted additions from users is the most promising solution. The reward system for participation will be discussed in more detail in coming documents. Developing a content filter to protect the exit node also creates a marketable business software solution that provides inline content filtering. This decentralized content filter, which will combine both existing open source blacklists, ISO Layer 7 Regex filtering and “Utility Community� submitted filters will create a unique solution and advertisement for companies requiring content filtering solutions. Content filtering is a multi-billion dollar industry and UtilityCoin is in partnership discussions with an internet software company, with the intention to deliver this technology solution to their clients.
This is only a brief introduction to specific UtilityCoin technology implementation. We will deliver technical details, Proof of Developer accredition, professional reviews of in-progress code, and news and information in the coming days