Whitepaper version 1.3
1. PRELIMINARY REMARKS
The shock of a new industrial age
Starting as far back as 1760 and linked to the implementation of new technologies three waves of industrialization have been sweeping across the planet.
The social effects altered the face of the earth and created a new type of middle class, which has been forced to change, in order to adapt to the increases in productivity, ever since.
While the third industrial revolution – mostly referred to as the digital revolution - began only a couple of decades ago, its ongoing technological developments and the extensive use of highly sophisticated communication technology diminished the need for human labor even more.
The Fourth Industrial Revolution
The world is once again in a transformational phase. Only this time, a very real and emerging reality is forming with every passing minute. Blockchain, Big Data or Machine learning are all becoming part of a brave new world, that needs governance and ethics leading the human family into a brighter tomorrow amid the turmoil and chaos those changes bring up in our societies.
In this computerized industrial world, human involvement is no longer needed. Decisions will be based on resources through smart and ever learning, ever connected and self-organizing networks.
The shift made possible by highly flexible and autonomous production creates a rift and will ultimately affect the labor market and the way we organize new and more flexible work arrangements in the future.
With all these changes occurring right before our eyes, a new reality comes with new possibilities. We all need to rethink what time, work, community and sustainability mean to our society. Imagine a world where a universal basic income eliminates the fear of survival literally overnight. On this next level, the former purely 'productivity time' once again becomes quality time. New markets will be created and new forms of work through digital platforms will be needed to accommodate the new- found abundance of freed up personal time giving all people a feeling of belonging and stronger appreciation.
2. OUR VISION FOR A BETTER WORLD
When the world needs answers, technology will come to the rescue. We at TIMERS believe, that every person has an intrinsic value and a set of skills that will be needed in this day and age. The most universal language and way to measure this value is time itself.
Introducing TIMERS and the power of the Income/Per/Minute (IPM) Token - unlocking your hidden potential, giving you a new stream of income. Time becomes a preferred medium of exchange, valid and divisible. It is a new form of cash!
3. MAKING THE CASE FOR A TIMERS APPLICATION
An industrial revolution marks the end of one sector and the beginning of many new chapters in the now global economy.
The financial industry is no exception and also changing along the aforementioned structures. Lines are blurring everywhere and classical banking is drawn into the world of blockchain, decentralization and smart contracts where no middle-man is needed.
Social Media and E-Commerce are also incorporating parts of the financial sector, slowly merging.
New connections arise, waiting to bind these forms of work together, hence giving birth to a different kind of digital marketplace: the marketplace of time. Your personal time is nothing less than condensed energy, flowing into the projects you love, making you the unique author of any product, service or piece of art. In other words: your time is the very essence of all value creation.
We imagine a marketplace that lets you offer these skills and products. The TIMERS application is a place to buy and sell locally, whenever you want to share personal time or items. It is also the place to connect globally, getting in touch with other people offering the very same passion and their valuable services.
All of this value creation will be measured in time, our IPM Token, making it the most fitting and universal unit of exchange.
TIMERS is more than a simple ‚banking of the unbanked’, as a large part of the world doesn’t have access to old fashioned types of currency. The ‚unbanked sector‘ is growing, leaving us with the need to find better solutions and means of trade. Here too, TIMERS offers all people a sensible and safe way of collaborating, no matter if you have money or not.
Time as a quantity
Everyone can offer their unique skills in this market, because time knows no rich or poor. The current social system no longer determines the value of a service itself. Let's say, you play the piano and want to teach online for an hour, this will bring 60 IPM or more, based on your skills and current demand. Prices for certain, relevant skills can now exceed those of a person working in the financial sector, for example. Best of all, these kinds of online services will be possible right from the app without third parties. Smart contracts will allow for a multitude of services, enabling you to offer your personal time to many paid customers at a time. Eventually, anyone will be able to accumulate IPM – Token, hence spend it, send it to friends and colleagues or donate it to a cause where help is needed.
The thought process is, that as artificial intelligence and automation is taking over work previously done by humans (or raging pandemics) we will soon have more expendable, personal time. As such, we can use it wisely. New systems are needed to generate income and this is where the app comes in. It rewards the skills that you share with the world... so that life will be paying out, one minute at a time.
4. TECHNOLOGY MEANS FACILITATION
Clear and user-friendly
Technological progress alone is no guarantee for better methods. On the contrary, it is only successful and able to reach a mass market, when ubiquitous understanding seems to be guaranteed. In the past, blockchain technology in particular has found it difficult to adequately communicate the obvious advantages to potential customers or users. Technology must be designed to be so simple and intuitive, taking a back seat, just serving as a supporting element to enable new platforms and application examples.
The whole TIMERS.network will start as a closed source project, but will then evolve to open source. For this reason, an ERC20 token will be created first. Later on, it will be swapped to a dedicated Blockchain: the TimeChain.
The standard set of features will already come with different modules mapping the system, including reputation, digital contracting and a dispute service. On top, TIMERS will enable a swift and simple moving of IPM funds to another user's account without the need of a digitized contract as stated below.
Reputation will be achieved by providing feedback systems ensuring protections. An algorithm accounts for different layers of skills offered by each marketplace participant. Further variables shall be covered by supply and demand, initially.
Each Contract on the TIMERS application will be automatically handled through digital escrow, meaning that adequate funds will be needed and locked until a transaction is finalized by signing the conclusive contracts. Conditions (e.g. price, time, quantity et. al.) will be set to satisfy all participants and funds will automatically be released once the agreed work, service or product specifications have been met. Blockchain based transaction fees are burned in this process and as such also have an inflation-preventing character. Platform-specific fees do not apply. If quality disagreements arise, a mediation service can be provided.
When design meets Super-Application
One of the most thrilling and important aspects of any technology is a corresponding user-interface. TIMERS is inspired by award-winning designs of next-generation interfaces that harness the power of today's devices to deliver brand new and intuitive experiences. In a way that modern technology has taken the idea of banking onto a new level, other factors need to complement this experience with a feeling of novelty and even a sense of playfulness.
Digitization and tokenization go hand in hand and open up a new market that traditionally singular platforms, banks or marketplaces can no longer compete with. The idea of an organic network, in which different technological facets seamlessly converge and complement each other to create a better user experience, is at the heart of the development.
The result is again the so-called super-application. Its intention is, to play a major role in the everyday life of the user, as it combines different, previously separate functions in one ecosystem in a particularly efficient and elegant way.
Various offers on the TIMERS APP allow for personalization and further services, in order to simplify networking and finding desired transaction partners, considering any data protection guidelines. A flow of large amounts of data opens up the possibility of continuous optimization of the system, which takes into account the user commitment and the convenience of such a super application. Machine learning and artificial intelligence will make future iterations more efficient, continuously.
The result of the personalized application is a marketplace of goods and services, with the ability to offer one’s own personal ‘quality time’ specifically based on the needs of a particular user and vice versa.
5. TOKENOMICS - ABOUT THE INCOME PER MINUTE (IPM) TOKEN
CONTRACT ADDRESS: 0x8feef860e9fa9326ff9d7e0058f637be8579cc29
INITIAL SUPPLY: 3,347,380
Token Sale 61.64%
· Core Team 66%
· Special Forces 33%
(Unsold tokens will get burned. Founders and Team tokens will be locked for 3 months and then vested 10% a month.)
FOUNDATION FUNDS ALLOCATION:
Exchange Listings and Liquidity (25%)
Time in general is an infinite quantity. Still, for the individual, time remains a recreational and uber-quality construct and as such, is limited and extremely valuable. This is reflected in the circulating supply rate of growth, which will only increase, if the number of unique users within the ecosystem grow as well. It will be labeled as 'timed verification minting' (TVM) and used as a Proof Of Value Creation.
TVM is the basis for minting IPM and operates in the background, It will be available in 2 stages.
- TVM Stage 1
Tokens will be minted* and distributed to holders whenever new people join the Timers App and set up an IPM account. Similar to current staking, the bonus depends on the size of the amount of IPM you already own. You can make daily claims.
*Note: this will partially happen without real minting and no artificial inflation of the circulating IPM.
- TVM Stage 2 (final product)
Tokens will be minted and distributed to holders. A dedicated activity tracking system will be applied to measure value creation through your engagement in skill, goods, services and forum-based social activities, instead of just using wallet sizes. This should serve as an additional incentive to provide your own quality time in IPM. This way, we at TIMERS want to establish a basic income mechanism for all active users.
Proof of value creation as in these 'timed verification minting processes' opens up advantages for platform- and application-providers as well as for users. Growth is also distributed directly to the users themselves in the form of IPM, whereby the total number of users increases for us - a win-win situation for all.
(Team related wallets will not be eligible for the token distribution!)
Maximum supply of IPM as an ERC20 token will be limited to 50 million. In addition, the starting supply tops out at 3,3 million only, with further minting locked for a total of 12 months.
New demand always ‘eats up’ supply immediately. The more successful the application, the greater the probability that any given IPM will remain circulating in the system. This results in higher deflationary pressure than on any other comparable system.
It counteracts a well-known inflationary effect, which is, for example, not applicable to Ripple and the XRP token. Unlike these tokens, IPM is not thrown on the market without adequate demand justifying such a behavior and putting respective investors at a great disadvantage.
In combination with a Fee-burn feature, a price appreciation will be achieved, despite a potentially increasing amount of IPM token in circulation.
Lastly, the uncertain stability of any given fiat money is thus counteracted. IPM is decoupled, but still gives the users the decentralized possibility to exchange their IPMs into any other currency. This can also lead to immense price increases on exchanges.
Every time a transaction on the TimeChain (blockchain) takes place, a small fee applies, representative of the processing power temporary utilized. This means, increasing collaborative actions within the app will have a deflationary effect, therefore regulating the amount in circulation.
EARLY BIRD SPECIAL:
Who is behind TIMERS?
We have a very heterogeneous team. Our top dogs have been working in multiple positions and on various projects as entrepreneurs in the past. Most of the core members have been in the industry for up to 20 years.
Which fields do we cover?
We have experience in media and content creation, web- and blockchain development, marketing, social science, game theory and even futurology. On top of that we have been experimenting with digital currency creation dating back to 2007. In addition, we feature advisors belong to the very best mathematicians.
Which universities did we attend?
Specialists and concepts were trained and developed at the Bauhaus-University-Weimar in the departments of Media Studies and Management, as well as Computer Science for Digital Media and Human-Computer Interaction. Others graduated from Technische Universität Ilmenau and Julius-Maximilians-Universität Würzburg for example.
How important is Anonymity to us?
We believe that in a decentralized world, anonymity will be a driving force, helping people come together without limiting borders of gender, culture or race while reclaiming control over personal data. We wanted to send a clear signal that TIMERS was initiated by people believing in these core values. Team members are therefore free to decide whether they wish to remain anonymous. For the safety of our investors, a founder will always be available via LinkedIn.
This roadmap will be a summary of our planned development coded into a timeline and representing the defining achievements of all preceding industrial revolutions:
· Steam / 0101001101110100011001010110000101101101
· Electricity / 0100010101101100011001010110001101110100011100100110100101100011011010010111010001111001
· Computers / 010000110110111101101101011100000111010101110100011001010111001001110011
· Singularity / 0101001101101001011011100110011101110101011011000110000101110010011010010111010001111001
Each achievement should also represent a milestone in functional development. Research and development can overlap, but will ultimately be part of the final application once the prototype version of TIMERS will launch.
2019 - 0101001101110100011001010110000101101101
· Creation of the idea · Market analysis
2020 - 0100010101101100011001010110001101110100011100100110100101100011011010010111010001111001
· Core team
· Concept development finished
· IPM Token created
· Launch of website and marketing
· Token sale
· Token distribution
· Listing on CMC, Coingecko et. al.
· Start of marketing campaign
· Listing on exchanges (Phase one)
· Expansion of our team
2021 - 010000110110111101101101011100000111010101110100011001010111001001110011
· Pre release media coverage
· Launch TIMERS PROTOTYPE / 010101000110100101101101011001010111001001110011
· Listing on exchanges (Phase two)
2022 - 0101001101101001011011100110011101110101011011000110000101110010011010010111010001111001
· Testnet release
· Launch of the TimeChain as main-net
· Desktop APP