TKCoin WhitePaper - (translation almost finished)
Salta (Argentina), May 05, 2021
Considering the growing incorporation of technologies related to cryptocurrencies into world economies, and with the great influence of the current pandemic, the world has turned to stop using cash and even in many cases plastics cards looking for more modern alternatives.
The existence of Bitcoin and its derivatives is publicly known, but when we speak of public knowledge per se we refer to a public constituted, in its vast majority, by people between 20 and 45 years old, middle to high class economic level, with ongoing studies and above all with access to modern communication technology and tools. This denotes a lot of segmentation. There's a huge group of people who do not usually handle the modern technological terms related to blockchains and cryptocurrencies, whether due to fear, ignorance, lack of education or indifference. In the particular case of Argentina, the vast majority of those having, or can have, savings prefer to do so in US-dollars, since the national currency has poor strength due to printing, inflation and other factors beyond the interest of this document. In my personal experiences, when addressing the topic "Bitcoin" with people of different ages, educational levels and social strata, I find it very difficult to capture interest in this currency so "extravagant" for some and "risky" for the great majority. However these are the same people that became accustomed to handling mobile devices, social networks, messaging apps, home banking payments and purchases with credit cards on a daily basis, all this today, perhaps, in a natural way.
When we talk about saving and operating with cryptocurrencies, there are two main trends, the two most notable are the HODL (from the English “hold”) and Trading (from trading markets).
With HODL we mean buying and long-term holding, maybe 2, 3 and up to 10 years (or when we have a profit or a need in which we prefer liquidity). When talking about Trading, we focus on buying low and selling high to buy back low and resell high and so on (in simplistic terms), alternating between different cryptocurrencies (there are currently thousands of projects, based on Bitcoin and Ethereum for the most part). Bitcoin's price today is U$D 55,000 per unit and ETH is roughly U$D 4,000. In Argentina (and anywhere in the world) these are extremely high amounts for salaried people, with family charges and a "standard way" of living. Even for wealthy people buying a Bitcoin can sound crazy and this is for reasons as simple as ignorance, lack of knowledge, disinterest and above all mistrust (even when explaining that "you can buy a very small fraction" they show disinterest ). Another important point to note is that to be able to buy cryptocurrencies one has to be of legal age, register in an exchange and provide documentation to validate through the KYC protocol (“know your client”). With the complications and delays this process implies, it also obliges us to send photographs of our personal documentation, thus violating our privacy since we do not know what could happen later with these documents.
That's why since December 2020 we have been developing an educational project, purely based on the Bitcoin protocol, to provide access to blockchain technology and cryptocurrencies to all those people who have never heard or are just beginning to be interested in the subject, but for various reasons still did not dare or did not have the opportunity to approach and, in a more practical and tangible way, to operate with these protocols.
Although there are already hundreds (or thousands) of projects on cryptocurrencies, we want to emphasize that the main objective of this project is Education, our purposes are purely educational.
It is essential for people who are not yet familiar with these money transaction methodologies to have an education first. Make this part of your everyday life. Make it accessible, easy, friendly and above all natural.
In this case, the TKCoin network would be the appropriate tool to meet all these needs as it would be a consensus network with a cryptocurrency linked in a 1:1 relationship with the country legal-course currency which, in the case of Argentina, is the "argentinian peso" (ARS).
People's most-common thoughts might be:
· There are already virtual wallets: this is true, however most are from banks or financial institutions and a requirement is to be over 18 years old to be legally able to use them and for which, you must sign an extensive contract with a bank or financial entity.
· Home banking already exists: but also well known that it's not easy using this for paying a coffee, the taxi, nor to buy something in a store (wholesaler or retailer) of basic supplies.
· Credit/debit cards already exists: similar to virtual wallets, adding the inconvenience of a plastic card (there are many people who have between 4 and 10 plastic cards in their wallet).
Today these methodologies are not practical for everyday use, which is why the TKCoinnetwork was born, with as its basis the Bitcoin source code (available at https://github.com/bitcoin/bitcoin, up to date today's version is 0.20).
The instant micropayments network called Tiki-Taka is based on the Lightning Network protocol supported by “LND” open-source software (available at https://github.com/LightningNetwork/lnd). The source code of TKCoin will be made available on the website https://www.tkcoin.org
Through the TKCoin network, any person, regardless of their characteristics (geographical location, age, level of purchasing power), with practically any smart mobile device (smartphone, tablet) connected to the internet, will be able to access the benefits of the great development of the consensus network proposed by Bitcoin, without the need to have knowledge of technical language, and above all without the need to spend nor risk a penny.
What this project proposes to achieve is education and help
the cryptocurrencies technology becoming available to everyone.
(based on “The emerald forest” movie name)
This project consists of two cryptocurrencies, EDUCoin and TKCoin, to be implemented in two phases.
PHASE 1 - EDUCoin The Educational Cryptocurrency
- The main cryptocurrency is called EDUCoin (its ticker is EDU), and is nominally valued at 1 ARS (one Argentinian peso)
- We say "nominally" since the real value is 0 (zero) ARS, this means that no one should buy or sell EDU as they are being distributed for free
- The distribution of this cryptocurrency will be free and public, without restrictions of any kind (except the amounts, which will be reasonable enough to be able to carry out any number and type of operations through the network) and can be acquired through the channels published on the website https://www.tkcoin.org/quieroedu
- Each EDU is divisible by 100,000,000 (one hundred million) smaller units
- Eventually, by incorporating the micropayments network in the near future, it may be divisible according to the network requirements
- The implementation of the EDU cryptocurrency is based on the specific protocol of Bitcoin
- The implementation of the instant micropayment network, called Tiki-Taka, is based on the Lightning Network protocol. This implementation will be available on public network when deemed appropriate.
- Initially 150,000,000.00 EDU (one hundred and fifty million) will be mined. After the initial mining, the reward per block mined will be 0 (zero) EDU since the mining will be for the consensus of the network and not for profit
- The destination of the mining rewards will be the EDU network MainWallet from which the EDUs will be distributed free of charge to those who request it through the specific channels published on the project website
- The blockchain can be explored by visiting the link https://edu.explorer.tkcoin.org
The Emerald Project, supported on the TKCoin network, was born with the purpose of providing access to the general public to the blockchain experience of instant payments. Its main purpose is educationalwith the aim of transmitting knowledge, generating trust, consolidating modern technological concepts and whose propagation is rather organic. Therefore, the planned stages of network implementation would be the following ones:
- Preparation of documents, tutorials, instructional videos and publication of the group and official Telegram channel to provide information and support
- Launch of the project once consolidated, with the subsequent publication of mobile wallets for iOS and Android
- Launch of desktop wallets for multiple operating systems (Windows / MacOS / Linux and ARM, mainly for RaspberryPi)
- Mass dissemination of the project through the usual channels, social networks, digital newspapers, welcoming any person, company or business that, organically, wants to participate
- Regular talks and virtual conferences to continue incorporating users to the network
- Workshops and educational meetings about cryptocurrencies in general by using EDUCoin
- Updating of the institutional website and dissemination of news through the official Telegram channel at https://t.me/TKCoinOrg
PHASE 2 - TKCoin The middleman-free cryptocurrency
- The cryptocurrency TKCoin (its ticker is TIK) is nominally valued at 1 ARS (one Argentine peso)
- This currency may be divisible, in the first instance, by 100,000,000 (one hundred million), each fraction will be called “tiki” (the equivalent of Bitcoin's “satoshi”), therefore a TIK will be 100,000,000 tikis, and a tiki is 0.00000001 TIK
- A larger unit will be called TOK, equivalent to 1,000 TIKs. Then a bigger unit will be called TRONK, equivalent to 1,000,000 TIKs
- Keeping it clear, the exchange units for this currency are presented below
- 1 TIK = 1 ARS
- 1 TOK = 1,000 TIKs
- TIKs = 1,000 ARS (commonly known in Argentina as a “luca”)
- 1 TRONK = 1,000,000 TIKs
- TIKs = 1,000,000 ARS (commonly known in Argentina as a “palo”)
- 1tiki = 1/100,000,000 TIKs = 0.00000001 TIKs
- 1 militiki = 1/1,000 tikis = 0.001 tiki
The TKCoin cryptocurrency will be available to all those people and entities who want to participate in this network in an organic way. We call it "organic" because it seeks non-profit participation. So, what are we trying to achieve using this technology? The answer is simple: payment facilities for small transactions without using cash, first solving the problem of change due to the lack of low-denomination bills and coins, and facilitating the use of new technologies for monetary transactions for people without access to bank accounts. For instance:
- Parking payment
- School kiosks
- Greengrocers, butchers, bakeries
- General Retail Businesses
- Restaurants and food business
- Utilities (energy, water, gas, cable, internet)
- Municipal taxes
How could this currency be acquired then to be able to use it on a daily basis?
The TIKs will initially be cryptographically protected in the Main Wallet, or MainWallet, of the Esmeralda Project. Each TIK, to be released from the main wallet, must be backed with Argentine pesos in the same amount as the released funds. That is, if someone wants to obtain this currency, they must do so by exchanging Argentine pesos (from now on ARS) for TIKs in equal amounts. The fee for each transaction will be determined by the network, usually the fee is much less than a penny (regardless of the transaction amount).
Where will I be able to exchange my ARS bills for TIKs?
At first it will be through the official channels of the project, which will be published at https://www.tkcoin.org/quierotik, then the businesses or people that wish to do so may exchange according to their availability. The exchange can be done between two wallets, in common agreement, regardless of their owners, without restrictions of any kind.
How will I “get back” my ARS bills?
In the same way that we exchange ARS for TIKs.
Where can I spend my TIKs?
As the network grows, different participants will join the network: businesses, organizations or individuals who want to accept this new technology and its cryptocurrency as way of payment.
How can I trust that my money will not disappear like in a bank run, a rug pull, or that the creators of the project won't run away with the capital?
This is the most controversial topic of the project, why? Due to the amount of scams, Ponzi schemes, phishing and so many other ways to get someone else's money. This project will be viable only in accordance with the trust placed in it. Just as people routinely trust a paper called a “bill” that claims to have value only because of what is printed on it, based on an implicit agreement where we all accept that paper has value, the same could eventually happen with this project where people find a solid, robust system, free of middleman and without hidden costs, where the value is guarded by the same participating people, with a decentralized consensus system and all the characteristics inherent to the so-called blockchain.
To clarify we explain below: the TIK coin will be initially mined by TKCoin.org up to a maximum limit of 150,000,000 (one hundred and fifty million TIKs) that will be stored in the so-called MainWallet. All transactions will be registered in the blockchain, which can be audited by anyone since they will be publicly accessible. The blocks mined later will not have a reward other than the transaction fees, it is not intended to profit from this but to bring this technology (cryptocurrencies supported in blockchains) to the people in general. TKCoin.org is currently in the process of consolidating itself as a non-profit organization, with all the legal issues that this implies. TKCoin as an organization will be in charge of guarding the main wallet in TIKs and the funds in ARS in order to show transparency towards the users of this network. The funds that are released must be backed by their value in ARS. In other words, funds cannot be released from the main wallet without a prior deposit of its equivalent in Argentinian pesos.
TKCoin.org will have an additional wallet called OrgWallet where TIKs will be received from the project sponsors to pay for the costs of putting it into production. For both the MainWallet and the OrgWallet, their balances and movements will be publicly accessible. Withdrawals, payments and deposits will be recorded in their entirety for the purpose of transparency and that of being audited by the general public through the TKCoin.org blockchain explorer. TKCoin.org will also have an EduWallet, which will be available to receive donations for educational institutions in order to promote the use of technologies, conduct training and obtain modern computer equipment. All the movements of this wallet will also be visible through the blockchain explorer.
We hope from TKCoin.org that you join the network, be aware of the launch of the project, obtain your EDUCoins and begin to learn and understand what it is, how it works, what it is for, and all the questions associated with blockchain technology and cryptocurrencies.
We encourage you to read Privacy Policies available at https://www.tkcoin.org/privacy
For support contact us by the following link https://www.tkcoin.org/support
Telegram's official group https://t.me/TKCoinOrg
Twitter @TKCoinOrg https://twitter.com/TKCoinOrg
Sincerely, TKCoin.org team
Visit our website and read more about this project on https://www.tkcoin.org