white paper vconomics decentralized digital economy
TRANSCRIPT
DECENTRALIZED DIGITAL ECONOMY
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WHITE PAPERVCONOMICS – DECENTRALIZED DIGITAL ECONOMY
“We distribute free cryptocurrencies for all Vietnamese
adults and for those who love and live in Vietnam.”
VCONOMICS, 2021
01
DECENTRALIZED DIGITAL ECONOMY
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TABLE OF CONTENTS
CHAPTER I:
CHAPTER II:
CHAPTER III:
CHAPTER IV:
Introduction
GLOSSARY
What is Vconomics?
Vconomics Products and Services
Total Supply and Distribution
CHƯƠNG VII: TEAM
CHƯƠNG V:
CHƯƠNG VI:
Timeline
Roadmap
3.1. MICS
3.2. Vwallet
3.3. Vfactory
4.1. Total supply
4.2. Distribution
4.3. MICS Allocation
3.4. Vex
3.5. Vuniverse
3.6. Vpool
3.7. Vlending (P2P Lending)
6.1. Technical Roadmap
6.1.1. 17/06/2021: The launch of Vconomics with following utilities
6.1.2. 30/08/2021: The launch of VFactory and Vex
6.1.3. 30/09/2021: The launch of new feature (Vuniverse)
6.1.4. 30/10/2021: The launch of VPool
6.1.5. 30/11/2021: The launch of Vlending
6.2. Business Roadmap
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3.8. Vscore 8
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GLOSSARY
A non-fungible token (NFT) is a unit of data stored on a digital ledger, called a
blockchain, that certifies a digital asset to be unique and therefore not inter-
changeable. NFTs can be used to represent items such as photos, videos, audio,
and other types of digital files.
eKYC is an online customer identification solution, allowing banks to overcome all
geographical and time barriers to identify customers 100% online based on
biometric information without face-to-face meetings are requirements as the
current process.
Smart Contract is a computer program or a transaction protocol which is intend-
ed to automatically execute, control or document legally relevant events and
actions according to the terms of a contract or an agreement.
Swap is a transform current Token/Coin into a new Coin equals value. In spite of
Crypto currency specific technology, swap coin requires technical revolutions and
a new Coin is enabled to be traded based on a new technical structure.
Blockchain is a block-chain technology that allows the transmission of data
securely based on an extremely complex encryption system, similar to a compa-
ny’s accounting ledger, where money is closely monitored and record all transac-
tions on the peer-to-peer network.
Each block contains information about its creation time and is linked to the previ-
ous block, along with timecode and transaction data. Once the data is accepted by
the network, there is no way to change it. Blockchain is designed to resist fraud
and alteration of data
NFT
eKYC
SmartContract
Blockchain
Swap
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CHAPTER I: INTRODUCTION
The online credit processing agency Bureau of the Polish Banking Association has recorded the credit
history of about 150 million Europeans by creating a blockchain solution to process customer data. Banco
Santander, a pioneer in the application of blockchain technology in Spain, has built a payment system One
Pay FX on the blockchain platform.
The main goal of this system is to optimize payments between Europe and South America by using a distrib-
uted ledger. JPMorgan Bank believed the future of blockchain so much that they set up their own business
to research and apply this technology. Currently, the bank is testing applications for financial operations.
According to a source in the China Banking industry - the CEBNet, 12 out of 26 Chinese banks disclosed in
their annual records used blockchain applications in 2017 for various uses.
On May 15, 2018, HSBC announced that HSBC and ING Bank had successfully implemented the first trade
finance transaction through Letter Credit, which is completely based on blockchain technology for Cargill,
an international corporation in agriculture and food industry has reduced the L/C payment period from 5 -
10 days to 24 hours.
According to Reuters (September 28, 2018), Royal Bank of Canada (RBC) is experimenting with applying
blockchain for payments between branches in the US and Canada. Blockchain technology is currently
running in parallel with the main RBC system, allowing the bank to track payments between the US and
Canada in real time.
Blockchain will help increasing speed, reducing complexity and lower costs for payment. RBC Bank has
previously developed the blockchain system at a center located in Toronto, using a software provided by
open source blockchain organization Hyperledger.
Earlier, CNBC reported that IBM is building blockchain technology exclusively for the seven largest Europe-
an banks (including Deutsche Bank, HSBC, KBC, Natixis, Rabobank, Societe Generale and Unicredit) to
increase the efficiency of international trade for small and medium businesses. Wells Fargo and the Com-
monwealth Bank of Australia also used blockchain to process and conduct cotton exports from the US to
China last year.
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In 2018, Daimler - the German automaker that owns the Mercedes-Benz brand, cooperated with Landes-
bank Baden-Wrttemberg Bank (LBBW) to use blockchain for a 100-million-euro financial transaction.
According to a statement by Daimler, the company has issued a corporate bond to borrow the amount of
money from LBBW and 3 other banks using blockchain in parallel with the normal legal process.
Blockchain will automate the entire process, from contracting and executing to confirming repayment and
interest payments. This saves manpower costs for doing some manual steps like the present, while avoiing
the need to make so many contracts, discuss with investors, make payments and the lender also must apply
complicated governance and control mechanisms.
In Vietnam, in July 2018, NAPAS cooperated with three banks VietinBank, VIB and TPBank to successfully
test interbank money transfers using Blockchain after four weeks of implementation. This shows that this
technology is gradually becoming popular and banks are not out of trend.” -According to M.Sc. LE THANH
NGUYEN - PhD. PHUNG DUY QUANG (Foreign Trade University).
(Source: http://tapchicongthuong.vn/bai-viet/ung-dung-blockchain-trong-ngan-hang-76065.htm.)
The world is changing fast, everything is being digitized.
Digital Transformation will create a digital economy where all flows are digital numbers in
cyberspace.
Digital currency: as bitcoin is becoming the most valuable coin in the world (1 Bitcoin is equivalent
to 20 Gold Quantity 9999).
Most recently, works of art or any warrants can be absolutely protected by a Blockchain-based
technology named NFT.
A digital society is starting!
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CHAPTER II: WHAT IS VCONOMICS?
Vconomics is a virtual environment that simulates Vietnam's digital economy in a narrow scope for users to
interact and visualize the digital economy in the future.
Vconomics is a decentralized economy where everything is decided by everyone on Blockchain and Smart
Contracts.
You can understand Vconomics = Virtual economics or Vietnam economics.
Vconomics operates under the invisible hand of the economy, no one single and specifically can control
“We distribute free cryptocurrencies for all Vietnamese
adults and for those who love and live in Vietnam.”
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CHAPTER III: VCONOMICS PRODUCTS AND SERVICES
3.1. MICS
MICS is not only the equivalent but also the coin of Vconomics.
3.2. Vwallet
Vwallet is your blockchain wallet.
3.3. Vfactory
Vfactory where you produce your own NFT or NFT certification.
3.4. Vex
The decentralized NFT exchange (centrally listed but decentralized trading).
Vfee: Any transaction is charged a certain fee (Smart contract will calculate the fee so that the
Fund neither falls below 10% nor increases by more than 25%).
3.5. Vuniverse
The Anniversary Universe, where Vwish will appear as soon as being minted. If you send a wish, the
universe will listen. If you send a great idea, 20 years later, the world will recognize you as a great man.
Types of Vwish:
a) Eternal Love Gif
A place where you can reach out and express your feelings to the person who means the world to you.
b) The 7th wish
Sometimes you cannot share your feelings or express your true emotions. Let Vuniverse listen to you.
c) A great idea
Everyone has a dream. Everyone has an idea. An idea could be great, an idea could be crazy. But it is our
pleasure to honor you.
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3.6. Vpool
A place where users can deposit BTC/ETH/USDT to get profits (in MICS). The pool includes:
a. Vbiz
The people who deposit BTC/ETH/USDT to Vpool.
b. Vpoolrate
Vpool interest rate, depending on actual market.
c. Vholder
Vholder is a definition of people who hold 50.000 MICS or above and would like to be locked and earn
profits.
Each user on the Vconomics platform can use Vscore to estimate their credit score. Credit scores are
used to determine whether or not to lend and knowing interest rates depending on their score. In fact,
the lower the credit score, the cheaper the loan interest rate, and vice versa.
3.7. Vlending (P2P Lending)
3.8. Vscore
Vlending is a peer-to-peer lending platform that allows people to lend and borrow directly from each
other.
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CHAPTER IV: TOTAL SUPPLY AND DISTRIBUTION
4.1.
11.000.000.000 MICS
(Vconomics distributes 11.000.000.000 MICS because of simulating Vietnam’s digital economy, which has 11 thousand trillion VND total monetary circulation in 2020).
4.2. Distribution
4.3. MICS Allocation
Total supply
Team - 1,100,000,000 MICS
Fund - 2,200,000,000 MICS
Community - 5,500,000,000 MICS
Internal and Development -2,200,000,000 MICS
Figure 1. MICS Distribution
a. Team Wallet: 0x40339d4CE1CD409Da353587867A22Af4A947396d
The founding team will get 10% of MICS over the next four years, starting in 2022.
Team Wallet
Time
Allocation rate
10% Total MICS
Năm 2021
0.0% 2.5% 2.5% 2.5% 2.5%
Fourth Quarter2022
Fourth Quarter2023
Fourth Quarter2024
Fourth Quarter2025
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CHAPTER IV: TOTAL SUPPLY AND DISTRIBUTION
MICS - 275,000,000 275,000,000 275,000,000 275,000,000
b. Fund Wallet: 0xA363fF52446B998210b57B794b175E32FEc2569a
For Vpool's liquidity needs, 20% of the total supply is placed in the fund wallet.
d. Wallet Investor & Development: 0xf7f36ad251e0f901a2c3237dea762106acb53e07
Vconomics has set aside 20% of the overall supply, or 1.2 billion MICS, for investors, partners, and the
creation and development of the Vconomics ecosystem. The following is the strategy:
Community Wallet
Members’ number
Allocation Rate
MICS
50% Total MICS
1 million
5.0% 10.0% 15.0% 20.0%
5 million 10 million 20 million
550,000,000 1,100,000,000 1,650,000,000 2,200,000,000
Wallet Investor &Development
Time
Purpose
Strategy
Allocation Rate
MICS
20% Total MICS
2021
Operation Operation Operation Operation Operation
2022 2023 2024 2025
Private saleSale on app
IDO
15.4%
1,694,000,000 132,000,000 132,000,000 132,000,000 110,000,000
1.2% 1.2% 1.2% 1.0%
Exchange Exchange Exchange Exchange
c. Community Wallet: 0x37372e744b1613FDB0D72e9F5a710C9f1D56De9f
Community development receives 50% of the total supply, which amounts to 5.5 billion MICS. To ensure
that supply and demand are always in sync, community funds are provided based on the number of mem-
bers.
CHAPTER V: TIMELINE
05/2021
02/2021
2019 - 2020
Vconomics Launching
Research & Develop Vscore - The credit
scoring and connecting financial needs
Create Vconomics - The decentralized
digital economy
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CHAPTER VI: ROADMAP
6.1. Technical Roadmap
6.1.1. 17/06/2021: The launch of Vconomics with following utilities
6.1.2. 9/2021: The launch of VFactory and Vex
6.1.3. 10/2021: The launch of new feature (Vuniverse) with following components
6.1.4. 11/2021: The launch of VPool
6.1.5. 12/2021: The launch of Vlending
Vwallet: blockchain wallet
MICS: A crypto currency is used for every transaction on Vconomics
Vscore: user credit scoring feature
MICS users’ credit bonus
Love Gifts
Secret Wishes
Genius Ideas
A place where users can deposit BTC/ETH/USDT to get profits in MICS.
Vpoolrate: rate of Vpool. The interest rate of Vpool is always negative – meaning people will
be rewarded with extra MICS when depositing BTC, ETH and USDT coins into Vpool.
VLending is a peer-to-peer (P2P) lending platform, where people can borrow from each other
at an negotiable interest rate without any involvement of third party.
Credit score is determined by Vscore. This score is one of trust evidences used for every peer
to peer transaction on Vconomics
Vfactory is an NFT Generation Factory which is a tool for users to create their own NFT types
With Vuniverse you can create special NFTs that we call Vwish. Vwish you can create:
VVex is an NFT exchange where people trade and buy and sell NFTs created with Vfactory
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6.2. Business Roadmap
30/11/2021: Listing on Swap exchanges
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200.000 installations: Listing on one of the top 50 exchanges in the world.
300.000 installations: Listing on GMO Thailand
500.000 installations: Listing on one of the top 30 exchanges in the world
1,000.000 installations: Listing on Binance
And other exchanges
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CHAPTER VII : TEAM
FOUNDERS
ADVISORS
TRAN DUC THONGCo-Founder & CTO
NGUYEN THE CUONGCo-Founder & CEO
KALIDAS GHOSEVice Chairman & CEO at FE
CREDIT
NGO VAN TAUChairman at GMO-Z.com
RUNSYSTEM
NGUYEN TAN MINHVice Chairman at GMO-Z.com
RUNSYSTEM
NGUYEN THE CUONGCo-Founder & CEO
“ Mr. Nguyen The Cuong, a Digital Transformation Specialist
with over 15 years of experience in the Banking and Fintech
industries, is always looking for methods to simplify the
complex, particularly when it comes to the application of
artificial intelligence and blockchain to the financial system.
For the people of Vietnam, the bank provides convenient and
transparent solutions with outstanding performance”
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CHƯƠNG VII : TEAM
TRẦN ĐỨC THÔNGCo-Founder & CTO
“Mr. Tran Duc Thong, a developer with nearly ten years of
experience in building and designing high-performance
platforms such as core exchanges, previously held PM
positions at Navisoft (the company that provides the core
engine for HNX and HOSE) and CTO positions at FinanceX,
a Singapore-based crypto exchange.”