Bitquence whitepaper

1.
Democratizing​ ​Cryptocurrency
Shingo​ ​Lavine
Bitquence​ ​Founder
Version:​ ​​1.3.0
Last​ ​Updated:​ ​​September​ ​14th,​ ​2017
“The​ ​future​ ​is​ ​already​ ​here,​ ​it’s​ ​just​ ​not​ ​evenly​ ​distributed”
William​ ​Gibson,​ ​The​ ​Economist,​ ​2003

2.
Table​ ​Of​ ​Contents
Introduction:​ ​Vision,​ ​Team,​ ​Problem,​ ​Solution,​ ​Background
1. The​ ​Bitquence​ ​Platform
1.1 Bitquence​ ​Universal​ ​Wallet
1.2 One-Click​ ​Diversification
1.3 Bitquence​ ​Settlement​ ​Layer
1.4 Social​ ​and​ ​Community
2. ​ ​The​ ​Bitquence​ ​Token
2.1 Token​ ​Sale​ ​and​ ​Distribution
2.2 Funding​ ​Development
2.3 Value​ ​and​ ​Liquidity​ ​Network
2.4 Long-Term​ ​Roadmap
2.5 Legal​ ​Hurdles
3. ​ ​Looking​ ​to​ ​the​ ​Future
3.1 Linking​ ​to​ ​the​ ​Fiat​ ​Economy
3.2 Cryptocurrency​ ​Services​ ​and​ ​Mass​ ​Adoption
3.3 Balancing​ ​Decentralization
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3.
Vision
Bitquence’s​ ​vision​ ​is​ ​to​ ​create​ ​a​ ​people-powered​ ​new​ ​economy​ ​services​ ​company​ ​that​ ​makes
the​ ​cryptocurrency​ ​market​ ​accessible​ ​and​ ​trustworthy​ ​to​ ​the​ ​average​ ​user,​ ​accelerating
adoption​ ​of​ ​blockchain​ ​technology​ ​and​ ​democratizing​ ​ownership​ ​of​ ​cryptocurrencies.
Team
While​ ​this​ ​is​ ​a​ ​massive​ ​vision,​ ​Bitquence​ ​has​ ​an​ ​experienced​ ​and​ ​enthusiastic​ ​team​ ​and
community​ ​who​ ​are​ ​ready​ ​to​ ​make​ ​this​ ​vision​ ​a​ ​reality.​ ​​ ​The​ ​Bitquence​ ​team​ ​brings​ ​together​ ​a
unique​ ​collection​ ​of​ ​experts​ ​across​ ​cryptocurrency,​ ​financial​ ​services,​ ​distributed​ ​computing
systems,​ ​mobile​ ​technology,​ ​​ ​and​ ​broad​ ​scale​ ​consumer​ ​app​ ​development​ ​that​ ​has​ ​built
multiple​ ​award-winning​ ​applications​ ​and​ ​collectively​ ​powered​ ​over​ ​$1​ ​billion​ ​in​ ​mobile​ ​micro
payments.
Problem
The​ ​Bitquence​ ​platform​ ​is​ ​designed​ ​to​ ​tackle​ ​specific​ ​problems​ ​in​ ​the​ ​world​ ​of
cryptocurrency:
- Choosing​ ​between​ ​an​ ​ever-growing​ ​array​ ​of​ ​crypto​ ​currencies
- Understanding​ ​attributes​ ​across​ ​different​ ​crypto​ ​assets
- One-click​ ​diversification​ ​into​ ​multiple​ ​crypto​ ​assets
- A​ ​safe​ ​and​ ​secure​ ​mobile​ ​wallet​ ​that​ ​handles​ ​multiple​ ​keys
- Being​ ​able​ ​to​ ​easily​ ​transfer​ ​value​ ​across​ ​digital​ ​assets
The​ ​$4​ ​Trillion​ ​Financial​ ​Services​ ​Industry
The​ ​S&P​ ​500​ ​in​ ​the​ ​United​ ​States​ ​is​ ​worth​ ​$20​ ​trillion.​ ​​ ​20%​ ​of​ ​the​ ​S&P​ ​500​ ​is​ ​made​ ​up​ ​of
financial​ ​services​ ​companies​ ​or​ ​$4​ ​Trillion.​ ​​ ​For​ ​the​ ​cryptocurrency​ ​industry​ ​to​ ​go
mainstream,​ ​it​ ​will​ ​have​ ​to​ ​ultimately​ ​become​ ​more​ ​user​ ​friendly​ ​and​ ​enable​ ​a​ ​safe​ ​and
secure​ ​way​ ​to​ ​invest​ ​in​ ​cryptocurrencies​ ​and​ ​alt​ ​coins.
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4.
Solution
The​ ​Bitquence​ ​team​ ​has​ ​mapped​ ​out​ ​a​ ​multi-year​ ​approach​ ​to​ ​building​ ​a​ ​scale​ ​platform​ ​that
will​ ​tackle​ ​these​ ​problems​ ​in​ ​a​ ​way​ ​that​ ​builds​ ​a​ ​powerful​ ​new​ ​ecosystem.​ ​​ ​Bitquence​ ​will​ ​be
building​ ​services​ ​and​ ​tools​ ​that​ ​will​ ​accelerate​ ​user​ ​understanding​ ​and​ ​interaction​ ​of​ ​what​ ​is
right​ ​now​ ​a​ ​confusing​ ​and​ ​dangerous​ ​industry.​ ​Bitquence​ ​will​ ​build​ ​a​ ​bridge​ ​between​ ​the​ ​new
economy​ ​and​ ​the​ ​old​ ​by​ ​unifying​ ​crypto​ ​and​ ​traditional​ ​assets​ ​on​ ​a​ ​consolidated​ ​platform..
Background
Over​ ​the​ ​past​ ​several​ ​decades​ ​there​ ​have​ ​been​ ​a​ ​number​ ​of​ ​macroeconomic​ ​events​ ​that​ ​have
fundamentally​ ​changed​ ​the​ ​way​ ​that​ ​society​ ​operates.​ ​The​ ​Digital​ ​Revolution​ ​changed​ ​the
way​ ​we​ ​treat​ ​data​ ​and​ ​computation.​ ​We​ ​saw​ ​the​ ​rise​ ​of​ ​the​ ​modern​ ​internet​ ​in​ ​the​ ​dot.com
boom​ ​and​ ​more​ ​recently​ ​we’ve​ ​begun​ ​to​ ​experience​ ​the​ ​Internet​ ​of​ ​Things.​ ​Cryptocurrencies
and​ ​blockchain​ ​technology​ ​are​ ​now​ ​making​ ​way​ ​for​ ​the​ ​“Internet​ ​of​ ​Value”​ ​and​ ​Fintech
companies​ ​are​ ​paving​ ​the​ ​way​ ​to​ ​a​ ​decentralized,​ ​unencumbered​ ​financial​ ​future.
Cryptocurrencies​ ​have​ ​skyrocketed​ ​in​ ​recent​ ​years,​ ​rapidly​ ​reaching​ ​huge​ ​valuations.
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5.
Cryptocurrencies​ ​are​ ​often​ ​not​ ​very​ ​accessible​ ​to​ ​the​ ​average​ ​user​ ​due​ ​to​ ​technical​ ​or
expertise​ ​barriers.​ ​So​ ​while​ ​digital​ ​assets​ ​such​ ​as​ ​PIVX​ ​offer​ ​eye-popping​ ​returns,​ ​it​ ​is​ ​also
extremely​ ​difficult​ ​and​ ​mystifying​ ​for​ ​even​ ​sophisticated​ ​participants,​ ​let​ ​alone​ ​the​ ​average
consumer.
The​ ​market​ ​cap​ ​of​ ​these​ ​new​ ​generation​ ​of​ ​cryptocurrencies​ ​still​ ​pale​ ​in​ ​comparison​ ​to​ ​the
U.S.​ ​economy,​ ​let​ ​alone​ ​global​ ​markets.​ ​Valuations​ ​of​ ​the​ ​global​ ​stock​ ​markets​ ​are​ ​over​ ​​ ​$70
Trillion,​ ​dwarfing​ ​the​ ​total​ ​cryptocurrency​ ​market​ ​capitalization​ ​of​ ​$100​ ​Billion​ ​at​ ​the​ ​time​ ​of
writing.​ ​There​ ​is​ ​massive​ ​room​ ​for​ ​expansion​ ​if​ ​more​ ​investment​ ​begins​ ​to​ ​flow​ ​into​ ​the
sector,​ ​safety​ ​and​ ​security​ ​can​ ​be​ ​strengthened,​ ​and​ ​useful​ ​services​ ​are​ ​built​ ​on​ ​the​ ​disruptive
blockchain​ ​technology.
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6.
Wall​ ​Street​ ​and​ ​big​ ​banks​ ​are​ ​beginning​ ​to​ ​take​ ​notice​ ​of​ ​the​ ​huge​ ​potential​ ​of​ ​the​ ​blockchain
and​ ​the​ ​latest​ ​cryptocurrency​ ​returns.​ ​While​ ​we​ ​welcome​ ​their​ ​participation,​ ​the
decentralized,​ ​trustless​ ​nature​ ​of​ ​the​ ​blockchain​ ​needs​ ​to​ ​be​ ​preserved.​ ​Cryptocurrency
represents​ ​a​ ​fundamental​ ​threat​ ​to​ ​the​ ​way​ ​that​ ​many​ ​financial​ ​institutions​ ​operate​ ​and​ ​it
would​ ​be​ ​foolish​ ​to​ ​think​ ​there​ ​won’t​ ​be​ ​resistance.
“Rather​ ​than​ ​justice​ ​for​ ​all,​ ​we​ ​are​ ​evolving​ ​into​ ​a​ ​system​ ​of​ ​justice​ ​for​ ​those​ ​who​ ​can​ ​afford​ ​it.
We​ ​have​ ​banks​ ​that​ ​are​ ​not​ ​only​ ​too​ ​big​ ​to​ ​fail,​ ​but​ ​too​ ​big​ ​to​ ​be​ ​held​ ​accountable.”
―​ ​Joseph​ ​E.​ ​Stiglitz
That’s​ ​why​ ​Bitquence​ ​aims​ ​to​ ​create​ ​a​ ​people-powered
cryptocurrency​ ​services​ ​company​ ​for​ ​the​ ​blockchain.
Bitquence’s​ ​Mission​ ​is​ ​to​ ​make​ ​the​ ​cryptocurrency​ ​market
accessible​ ​and​ ​trustworthy​ ​to​ ​the​ ​average​ ​user,​ ​accelerating
adoption​ ​of​ ​blockchain​ ​technology​ ​and​ ​democratizing
ownership​ ​of​ ​cryptocurrencies.​ ​This​ ​is​ ​a​ ​key​ ​part​ ​of​ ​the
philosophical​ ​mission​ ​established​ ​by​ ​Satoshi​ ​Nakamoto.​ ​By
allowing​ ​the​ ​average​ ​participant​ ​to​ ​easily​ ​purchase
cryptocurrency​ ​in​ ​pre-diversified​ ​basket​ ​arrays​ ​of​ ​their​ ​choice,​ ​participate​ ​in​ ​consensus
quality​ ​and​ ​risk​ ​ratings​ ​and​ ​potentially​ ​send​ ​value​ ​anywhere​ ​quickly​ ​and​ ​easily,​ ​Bitquence
helps​ ​make​ ​the​ ​new​ ​economy​ ​easy,​ ​safe​ ​and​ ​secure​ ​and​ ​accessible​ ​to​ ​everyone.
Bitquence​ ​is​ ​the​ ​first​ ​cryptocurrency​ ​services​ ​company​ ​to​ ​synthesize​ ​many​ ​of​ ​the​ ​needs​ ​of​ ​the
new​ ​economy.​​ ​T​he​ ​Bitquence​ ​Universal​ ​Wallet​ ​will​ ​enable​ ​rapid​ ​diversification​ ​into​ ​multiple
digital​ ​assets​ ​quickly,​ ​easily​ ​and​ ​cheaply.​ ​​ ​This​ ​will​ ​pave​ ​the​ ​way​ ​for​ ​the​ ​Bitquence​ ​Digital
Liquidity​ ​Network,​ ​which​ ​will​ ​facilitate​ ​global​ ​digital​ ​​ ​payments​ ​instantly​ ​between​ ​any​ ​crypto
and​ ​fiat​ ​currency.​ ​​ ​While​ ​this​ ​is​ ​a​ ​massive​ ​vision,​ ​Bitquence​ ​has​ ​an​ ​experienced​ ​and
enthusiastic​ ​team​ ​of​ ​financial​ ​and​ ​mobile​ ​experts​ ​who​ ​are​ ​ready​ ​to​ ​make​ ​this​ ​vision​ ​a​ ​reality.
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7.
Bitquence’s​ ​vision​ ​is​ ​to:
● Make​ ​purchasing​ ​cryptocurrencies​ ​and​ ​digital​ ​assets​ ​as​ ​easy​ ​and​ ​safe​ ​as​ ​possible
● Leverage​ ​a​ ​community​ ​to​ ​reward​ ​experts​ ​for​ ​assisting​ ​in​ ​the​ ​education​ ​of​ ​newcomers
● Launch​ ​a​ ​variety​ ​of​ ​diversified​ ​cryptocurrency​ ​investment​ ​baskets​ ​making​ ​it​ ​simple
and​ ​painless​ ​to​ ​buy​ ​in​ ​with​ ​crypto​ ​and​ ​fiat​ ​currencies.
● Enable​ ​a​ ​universal​ ​mobile​ ​Bitquence​ ​wallet​ ​to​ ​provide​ ​a​ ​safe​ ​and​ ​secure​ ​way​ ​to​ ​buy,
trade​ ​and​ ​hold​ ​a​ ​variety​ ​of​ ​cryptocurrencies.
● Create​ ​a​ ​Bitquence​ ​token​ ​to​ ​pay​ ​for​ ​platform​ ​services​ ​while​ ​generating​ ​liquidity​ ​for​ ​the
entire​ ​network
● Eventually​ ​integrate​ ​Bitquence​ ​into​ ​existing​ ​crypto​ ​and​ ​fiat​ ​systems​ ​to​ ​create​ ​a
powerful​ ​all-in-one​ ​portal​ ​to​ ​the​ ​new​ ​economy
We​ ​are​ ​going​ ​to​ ​bring​ ​the​ ​financial​ ​future​ ​to​ ​you.
Are​ ​you​ ​ready?
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8.
1.​ ​The​ ​Bitquence​ ​Platform
There​ ​are​ ​hundreds,​ ​if​ ​not​ ​thousands,​ ​of​ ​different​ ​wallets​ ​out​ ​there​ ​for​ ​all​ ​of​ ​the​ ​different
digital​ ​assets​ ​and​ ​managing​ ​lots​ ​of​ ​wallets​ ​for​ ​each​ ​of​ ​your​ ​currencies​ ​is​ ​difficult.​ ​Here​ ​at
Bitquence​ ​we​ ​wanted​ ​to​ ​create​ ​a​ ​platform​ ​that​ ​could​ ​provide​ ​a​ ​powerful​ ​single​ ​point​ ​of
interaction​ ​with​ ​the​ ​new​ ​economy.​ ​This​ ​Next-Generation​ ​Digital​ ​Wallet​ ​will​ ​be​ ​the​ ​backbone
for​ ​our​ ​asset​ ​management​ ​and​ ​cryptocurrency​ ​services​ ​platform.​ ​The​ ​universal​ ​wallet​ ​will
allow​ ​us​ ​to​ ​bulk​ ​transactions​ ​together​ ​in​ ​order​ ​to​ ​increase​ ​liquidity​ ​and​ ​keep​ ​costs​ ​down​ ​for
consumers.​ ​This​ ​infrastructure​ ​also​ ​allows​ ​us​ ​to​ ​create​ ​a​ ​universal​ ​mobile​ ​payment​ ​system​ ​for
users​ ​who​ ​wish​ ​to​ ​transact​ ​in​ ​any​ ​currency​ ​instantly​ ​breaking​ ​down​ ​barriers​ ​towards​ ​mass
adoption​ ​in​ ​the​ ​industry.​ ​In​ ​this​ ​section​ ​we​ ​will​ ​outline​ ​the​ ​pieces​ ​of​ ​the​ ​Bitquence​ ​Platform
that​ ​will​ ​make​ ​it​ ​the​ ​most​ ​user-friendly​ ​way​ ​of​ ​buying​ ​cryptocurrency​ ​on​ ​the​ ​market.
The​ ​Bitquence​ ​platform​ ​has​ ​three​ ​main​ ​components:
● Bitquence​ ​Universal​ ​Wallet:​ ​​This​ ​includes​ ​a​ ​decentralized​ ​wallet​ ​management
system​ ​which​ ​links​ ​to​ ​the​ ​Bitquence​ ​Settlement​ ​Layer​ ​and​ ​allows​ ​for​ ​the​ ​easy​ ​transfer
of​ ​value​ ​anywhere​ ​in​ ​the​ ​world.
● Bitquence​ ​Settlement​ ​Layer:​ ​​This​ ​system​ ​handles​ ​diversification​ ​and​ ​settles​ ​value
transfers​ ​between​ ​Bitquence​ ​users​ ​and​ ​exchanges.​ ​The​ ​BSL​ ​simplifies​ ​diversifying
across​ ​wide​ ​varieties​ ​of​ ​assets.
● Social​ ​and​ ​Community:​ ​​The​ ​Bitquence​ ​platform​ ​seeks​ ​to​ ​connects​ ​novices​ ​and
experts​ ​and​ ​reward​ ​those​ ​who​ ​help​ ​to​ ​educate​ ​others.​ ​The​ ​platform​ ​will​ ​be​ ​a​ ​friendly
place​ ​to​ ​learn​ ​and​ ​begin​ ​interacting​ ​with​ ​cryptocurrencies.
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9.
1.1​ ​The​ ​Bitquence​ ​Universal​ ​Wallet
The​ ​Bitquence​ ​Universal​ ​Wallet​ ​is​ ​a​ ​wallet​ ​management​ ​system​ ​that​ ​allows​ ​users​ ​to​ ​quickly
and​ ​easily​ ​interact​ ​with​ ​their​ ​coins.​ ​The​ ​Universal​ ​Wallet​ ​will​ ​allow​ ​users​ ​to​ ​view,​ ​send​ ​and
receive​ ​balances​ ​of​ ​any​ ​supported​ ​cryptocurrency.​ ​The​ ​wallet​ ​manager​ ​is​ ​decentralized
meaning​ ​that​ ​consumers​ ​have​ ​complete​ ​control​ ​over​ ​their​ ​private​ ​keys.​ ​Bitquence​ ​manages
only​ ​encrypted​ ​versions​ ​of​ ​keys​ ​so​ ​that​ ​users​ ​don’t​ ​have​ ​to​ ​manage​ ​them​ ​on​ ​their​ ​own,​ ​and
Bitquence​ ​can’t​ ​access​ ​the​ ​coins​ ​without​ ​user​ ​authorization.​ ​All​ ​changes​ ​in​ ​balance​ ​are
completely​ ​user-directed​ ​and​ ​there​ ​are​ ​no​ ​locks​ ​or​ ​limits.​ ​The​ ​goal​ ​is​ ​to​ ​create​ ​a​ ​safe​ ​and​ ​easy
wallet​ ​that​ ​operates​ ​utilizing​ ​the​ ​complete​ ​user​ ​autonomy​ ​and​ ​control​ ​that​ ​cryptocurrencies
afford.​ ​The​ ​Bitquence​ ​Universal​ ​Wallet​ ​operates​ ​much​ ​like​ ​a​ ​password​ ​vault​ ​making​ ​key
management​ ​much​ ​easier​ ​than​ ​before.
The​ ​Bitquence​ ​Universal​ ​Wallet​ ​offers​ ​users​ ​a​ ​variety​ ​of​ ​features​ ​not​ ​afforded​ ​by​ ​other​ ​wallets,
leveraging​ ​the​ ​unique​ ​capabilities​ ​of​ ​the​ ​Bitquence​ ​platform.​ ​Mobile​ ​support​ ​is​ ​a​ ​priority​ ​for
Bitquence​ ​so​ ​that​ ​consumers​ ​can​ ​have​ ​access​ ​to​ ​their​ ​coins​ ​wherever​ ​they​ ​go.
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10.
1.2​ ​One-Click​ ​Diversification
One-Click​ ​Diversification​ ​enable​ ​users​ ​to​ ​diversify​ ​coins​ ​across​ ​a​ ​variety​ ​of​ ​cryptocurrency
assets.​ ​The​ ​value​ ​of​ ​your​ ​allocations​ ​will​ ​track​ ​precisely​ ​to​ ​the​ ​underlying​ ​assets.​ ​​ ​Bitquence
will​ ​have​ ​a​ ​range​ ​of​ ​preset​ ​allocation​ ​arrays​ ​that​ ​users​ ​can​ ​replicate,​ ​and​ ​can​ ​adjust​ ​the
percentage​ ​of​ ​asset​ ​allocations​ ​to​ ​their​ ​preference,​ ​assuming​ ​liquidity​ ​of
the​ ​underlying​ ​asset.
​ ​When​ ​you​ ​build​ ​your​ ​personalized​ ​basket​ ​using​ ​a​ ​Bitquence​ ​Allocation
array,​ ​you​ ​will​ ​be​ ​given​ ​an​ ​estimated​ ​cost​ ​and​ ​amount​ ​of​ ​underlying​ ​assets
securing​ ​your​ ​investment.​ ​All​ ​investments​ ​are​ ​secured​ ​1:1​ ​by​ ​underlying
assets.​ ​The​ ​benefits​ ​to​ ​Bitquence​ ​Allocations​ ​are​ ​as​ ​follows:
Risk​ ​Diversification:​ ​​Spread​ ​funds​ ​across​ ​​ ​dozens​ ​of​ ​crypto​ ​currencies​ ​or​ ​tokens,
making​ ​it​ ​less​ ​risky​ ​than​ ​purchasing​ ​an​ ​individual​ ​currency.
Accessibility​:​ ​Cryptocurrencies​ ​become​ ​easier​ ​to​ ​purchase,​ ​enabling​ ​average
participant​ ​and​ ​consumers​ ​to​ ​experience​ ​the​ ​benefits,​ ​and​ ​raising​ ​liquidity​ ​for​ ​all
market​ ​participants.
Community​ ​Expertise:​​ ​Bitquence​ ​aggregates​ ​information​ ​on​ ​different​ ​tokens​ ​and
provides​ ​insightful​ ​data​ ​through​ ​community​ ​predictions​ ​so​ ​that​ ​you​ ​know​ ​what
you​ ​are​ ​buying.
Low​ ​Cost:​ ​​Bitquence​ ​allocations​ ​will​ ​have​ ​low​ ​transaction​ ​fees,​ ​ensuring​ ​that​ ​the
power​ ​and​ ​freedom​ ​of​ ​crypto​ ​currency​ ​remains​ ​intact​ ​as​ ​“wall​ ​street”​ ​and
professional​ ​venture​ ​participants​ ​start​ ​to​ ​enter​ ​the​ ​market.
Time​ ​Savings:​​ ​Bitquence​ ​allocations​ ​will​ ​enable​ ​people​ ​to​ ​simultaneously​ ​invest
in​ ​multiple​ ​currencies​ ​instead​ ​of​ ​having​ ​to​ ​own​ ​and​ ​manage​ ​multiple​ ​wallets.
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11.
We​ ​imagine​ ​Bitquence​ ​Allocations​ ​to​ ​be​ ​like​ ​“coin​ ​collections”​ ​or​ ​“coin​ ​baskets”​ ​-​ ​diversified
baskets​ ​of​ ​new​ ​economy​ ​tokens​ ​that​ ​can​ ​be​ ​easily​ ​purchased,​ ​held​ ​and​ ​reallocated​ ​as
needed.​ ​One-Click​ ​Diversification​ ​is​ ​built​ ​on​ ​top​ ​of​ ​the​ ​Bitquence​ ​Universal​ ​Wallet
architecture​ ​giving​ ​you​ ​full​ ​control​ ​over​ ​all​ ​allocations​ ​and​ ​funds.
1.3​ ​Bitquence​ ​Settlement​ ​Layer
The​ ​BSL​ ​is​ ​a​ ​settlement​ ​engine​ ​that​ ​will​ ​handle
the​ ​trades​ ​for​ ​one-click​ ​diversification.​ ​Buy​ ​and
sell​ ​orders​ ​will​ ​be​ ​pooled​ ​and​ ​executed​ ​every
hour​ ​to​ ​lower​ ​transaction​ ​costs.​ ​Bitquence​ ​is​ ​not
a​ ​day-trading​ ​site,​ ​but​ ​rather​ ​an​ ​easy​ ​way​ ​to
diversify​ ​and​ ​hold​ ​funds​ ​across​ ​multiple
currencies.​ ​As​ ​Bitquence​ ​and​ ​cryptocurrencies
reach​ ​higher​ ​volume​ ​and​ ​liquidity,​ ​we​ ​anticipate
that​ ​this​ ​settlement​ ​period​ ​may​ ​become​ ​shorter.
The​ ​settlement​ ​engine​ ​settles​ ​offsetting​ ​orders​ ​in
the​ ​Bitquence​ ​platform​ ​and​ ​will​ ​use​ ​API
integrations​ ​with​ ​exchanges​ ​to​ ​settle​ ​any
additional​ ​trades.​ ​Using​ ​the​ ​BSL​ ​with​ ​One-Click
Diversification,​ ​you​ ​will​ ​be​ ​given​ ​an​ ​estimated
conversion​ ​rate​ ​and​ ​bounds​ ​under​ ​which​ ​the
trade​ ​will​ ​be​ ​executed.​ ​As​ ​BQX​ ​(The​ ​Bitquence
Token)​ ​gains​ ​additional​ ​liquidity,​ ​we​ ​anticipate
that​ ​the​ ​BSL​ ​could​ ​utilize​ ​BQX​ ​creating​ ​a​ ​digital
liquidity​ ​network​ ​allowing​ ​the​ ​easy​ ​transfer​ ​of
value​ ​through​ ​the​ ​Bitquence​ ​Token.​ ​Simplicity​ ​and​ ​transparency​ ​for​ ​novice​ ​users​ ​are​ ​critical
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12.
to​ ​the​ ​vision​ ​of​ ​Bitquence​ ​and​ ​hope​ ​that​ ​the​ ​BSL​ ​drastically​ ​simplifies​ ​cryptocurrency
experiences​ ​for​ ​many​ ​people.
1.4​ ​Social​ ​and​ ​Community
The​ ​Bitquence​ ​platform​ ​will​ ​also​ ​be​ ​a​ ​social
platform​ ​for​ ​users​ ​to​ ​share​ ​expertise​ ​and​ ​get
rewarded​ ​for​ ​helping​ ​newer​ ​users
understand​ ​the​ ​confusing​ ​cryptocurrency
space.​ ​Bitquence​ ​Predictions​ ​allow​ ​users​ ​to
guess​ ​the​ ​future​ ​movement​ ​of​ ​a
cryptocurrency​ ​and​ ​generate​ ​reputation​ ​as​ ​a
trusted​ ​and​ ​experienced​ ​member​ ​of​ ​the
Bitquence​ ​community.​ ​Experienced​ ​members​ ​will​ ​be​ ​able​ ​to​ ​advertise​ ​portfolios​ ​and​ ​get
users​ ​to​ ​“follow”​ ​them​ ​and​ ​gain​ ​access​ ​to​ ​their​ ​trades​ ​and​ ​any​ ​content​ ​they​ ​share.​ ​Followers
will​ ​pay​ ​BQX​ ​which​ ​will​ ​go​ ​towards​ ​rewarding​ ​the​ ​users​ ​who​ ​are​ ​followed.​ ​The​ ​goal​ ​is​ ​to​ ​build
a​ ​community​ ​of​ ​likeminded​ ​individuals​ ​educating​ ​and​ ​collectively​ ​navigating​ ​the​ ​new
economy.​ ​The​ ​Bitquence​ ​community​ ​is​ ​very​ ​important​ ​and​ ​special​ ​to​ ​us​ ​and​ ​we​ ​hope​ ​to
channel​ ​the​ ​community’s​ ​enthusiasm​ ​into​ ​every​ ​release.
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2​ ​The​ ​Bitquence​ ​Token
The​ ​Bitquence​ ​Token​ ​(BQX)​ ​is​ ​essential​ ​to​ ​the​ ​function​ ​of​ ​the
Bitquence​ ​platform.​ ​BQX​ ​is​ ​an​ ​Functional​ ​Token​ ​that​ ​will​ ​be​ ​used​ ​on
the​ ​platform​ ​to​ ​access​ ​various​ ​features​ ​and​ ​fees.​ ​Furthermore,​ ​as
BQX​ ​becomes​ ​more​ ​liquid​ ​over​ ​time,​ ​we​ ​anticipate​ ​it​ ​could​ ​be​ ​used
to​ ​rebalance​ ​individual​ ​portfolios.​ ​In​ ​other​ ​words,​ ​liquidity
generated​ ​by​ ​BQX​ ​from​ ​fee​ ​conversions​ ​and​ ​BQX​ ​trading​ ​pairs​ ​can​ ​be
used​ ​in​ ​a​ ​“liquidity​ ​network”​ ​that​ ​would​ ​enable​ ​users​ ​to​ ​shift
allocations​ ​between​ ​various​ ​currencies​ ​quickly​ ​and​ ​easily.
In​ ​short​ ​BQX​ ​Tokens​ ​will​ ​:
● Be​ ​the​ ​payment​ ​mechanism​ ​for​ ​accessing​ ​and​ ​using​ ​services​ ​on​ ​the​ ​Bitquence
platform
● Pay​ ​for​ ​transaction​ ​fees​ ​and​ ​API​ ​calls
● Enable​ ​liquidity​ ​to​ ​help​ ​with​ ​changes​ ​in​ ​user​ ​asset​ ​allocations
However,​ ​BQX​ ​Tokens​ ​will​ ​NOT​ ​:
● Pay​ ​dividends​ ​or​ ​profits​ ​of​ ​any​ ​kind
● Enable​ ​holders​ ​to​ ​vote​ ​on​ ​company​ ​matters,​ ​or
● Control​ ​the​ ​company​ ​in​ ​any​ ​way
In​ ​the​ ​future,​ ​Bitquence​ ​Tokens​ ​may​ ​be​ ​used​ ​to​ ​send​ ​value,​ ​similar​ ​to​ ​PayPal.​ ​This​ ​is​ ​where
we​ ​hope​ ​to​ ​get​ ​to​ ​and​ ​believe​ ​that​ ​it​ ​will​ ​require​ ​navigating​ ​technical​ ​and​ ​legal​ ​solutions​ ​with
care​ ​and​ ​expertise.
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2.1​ ​Token​ ​Sale​ ​and​ ​Distribution
Bitquence​ ​launched​ ​a​ ​token​ ​sale​​ ​​to​ ​distribute​ ​30%​ ​of​ ​the​ ​token​ ​supply​ ​to​ ​the​ ​public.​ ​30%​ ​of
the​ ​tokens​ ​were​ ​allocated​ ​to​ ​Bitquence​ ​for
development​ ​and​ ​expenses.​ ​The​ ​remaining​ ​40%​ ​of
the​ ​tokens​ ​are​ ​reserved​ ​to​ ​provide​ ​liquidity​ ​on​ ​the
Bitquence​ ​platform​ ​as​ ​we​ ​begin​ ​to​ ​move​ ​towards
the​ ​Liquidity​ ​Network.​ ​We​ ​wish​ ​to​ ​be​ ​as
transparent​ ​as​ ​possible​ ​about​ ​token​ ​ownership
and​ ​our​ ​development​ ​roadmap​ ​to​ ​dispel​ ​concerns
about​ ​vaporware​ ​or​ ​“pump​ ​and​ ​dump”​ ​scams.​ ​We
believe​ ​in​ ​the​ ​power​ ​of​ ​cryptocurrencies​ ​and​ ​are​ ​committed​ ​to​ ​building​ ​high-quality​ ​services
around​ ​that​ ​philosophy.
We​ ​took​ ​a​ ​unique​ ​approach​ ​to​ ​our​ ​sale​ ​and​ ​wanted​ ​to​ ​be​ ​fair​ ​to​ ​any​ ​participants.​ ​Final​ ​token
supply​ ​was​ ​dependent​ ​on​ ​the​ ​amount​ ​of​ ​ETH​ ​raised.​ ​Any​ ​tokens​ ​that​ ​were​ ​not​ ​sold​ ​during​ ​the
token​ ​sale​ ​were​ ​burned.​ ​This​ ​unique​ ​approach​ ​meant​ ​that​ ​the​ ​community​ ​gets​ ​to​ ​decide​ ​how
much​ ​this​ ​project​ ​is​ ​worth.
2.2​ ​Funding​ ​Development
Bitquence’s​ ​priority,​ ​first​ ​and​ ​foremost,​ ​is​ ​building​ ​a​ ​platform​ ​that​ ​delivers​ ​a​ ​useful​ ​service​ ​to
members​ ​of​ ​the​ ​cryptocurrency​ ​community.​ ​To​ ​build​ ​this​ ​service,​ ​Bitquence​ ​will​ ​be​ ​using
funds​ ​raised​ ​in​ ​the​ ​token​ ​sale​ ​and​ ​will​ ​leverage​ ​BQX​ ​tokens​ ​allocated​ ​for​ ​operating​ ​expenses
of​ ​the​ ​company​ ​to​ ​reach​ ​this​ ​goal.​ ​As​ ​such,​ ​some​ ​tokens​ ​will​ ​begin​ ​to​ ​enter​ ​circulation​ ​later
than​ ​others​ ​and​ ​we​ ​want​ ​to​ ​disclose​ ​that​ ​publicly.​ ​Circulating​ ​supply​ ​will​ ​slowly​ ​increase​ ​over
time​ ​as​ ​tokens​ ​are​ ​used​ ​in​ ​the​ ​course​ ​of​ ​development​ ​from​ ​the​ ​operating​ ​expenses​ ​pool.​ ​By
utilizing​ ​BQX​ ​as​ ​payment​ ​with​ ​vendors​ ​and​ ​employees,​ ​interests​ ​are​ ​aligned​ ​in​ ​making​ ​the
ambitious​ ​vision​ ​of​ ​Bitquence​ ​a​ ​reality.
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2.3​ ​Value​ ​and​ ​Liquidity​ ​Network
Tokens​ ​were​ ​issued​ ​on​ ​the​ ​Ethereum​ ​Network​ ​using​ ​ERC20​ ​standards​ ​so​ ​that​ ​they​ ​could
leverage​ ​the​ ​full​ ​security​ ​and​ ​capability​ ​of​ ​an​ ​established​ ​blockchain.​ ​By​ ​utilizing​ ​the
Ethereum​ ​network​ ​it​ ​offered​ ​BQX​ ​easy​ ​exchange​ ​integration,​ ​enhanced​ ​liquidity​ ​and​ ​the
ability​ ​to​ ​leverage​ ​existing​ ​technical​ ​infrastructure​ ​that​ ​many​ ​users​ ​are​ ​already​ ​familiar​ ​with.
Bitquence​ ​will​ ​be​ ​using​ ​the​ ​40%​ ​liquidity​ ​network​ ​pool​ ​to​ ​stake​ ​initial​ ​liquidity​ ​on​ ​the
platform.​ ​All​ ​initial​ ​counterparty​ ​risk​ ​will​ ​be​ ​absorbed​ ​by​ ​the​ ​BQX​ ​used​ ​to​ ​stake​ ​the​ ​network
which​ ​will​ ​encourage​ ​the​ ​Liquidity​ ​Network’s​ ​use​ ​and​ ​adoption​ ​as​ ​a​ ​value​ ​transmission
standard.
2.4​ ​Long-Term​ ​Roadmap
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Our​ ​vision​ ​is​ ​to​ ​make​ ​cryptocurrencies​ ​easy​ ​and​ ​safe​ ​to​ ​use​ ​and​ ​send​ ​anywhere​ ​in​ ​the​ ​world.
It​ ​is​ ​a​ ​simple,​ ​yet​ ​ambitious​ ​vision,​ ​but​ ​we​ ​believe​ ​that​ ​our​ ​roadmap​ ​can​ ​lead​ ​us​ ​to​ ​achieve
this​ ​vision.​ ​Below​ ​we​ ​have​ ​outlined​ ​names​ ​for​ ​the​ ​releases​ ​and​ ​what​ ​they​ ​entail.
Bitquence​ ​Release​ ​1:​ ​“Amber”
Predictions​ ​and​ ​Social
The​ ​first​ ​release​ ​we​ ​anticipate​ ​is​ ​Amber​ ​which​ ​includes​ ​Bitquence​ ​Predictions​ ​and​ ​some​ ​of
the​ ​social​ ​features​ ​of​ ​the​ ​platform.​ ​This​ ​release​ ​will​ ​be​ ​limited​ ​to​ ​the​ ​Bitquence​ ​Product
Council​ ​and​ ​some​ ​select​ ​members​ ​of​ ​the​ ​Bitquence​ ​Community.​ ​This​ ​release​ ​will​ ​include
Bitquence​ ​Predictions​ ​which​ ​will​ ​generate​ ​valuable​ ​data​ ​and​ ​intelligence​ ​on​ ​market
sentiment​ ​and​ ​social​ ​features​ ​which​ ​will​ ​help​ ​many​ ​of​ ​the​ ​newer​ ​users​ ​interface​ ​with​ ​experts.
We​ ​hope​ ​to​ ​refine​ ​the​ ​product​ ​and​ ​gather​ ​valuable​ ​data​ ​in​ ​this​ ​stage​ ​before​ ​we​ ​move​ ​onto
Onyx​ ​which​ ​is​ ​our​ ​second​ ​release.
Bitquence​ ​Release​ ​2​ ​-​ ​“Onyx”
Bitquence​ ​Universal​ ​Wallet
The​ ​second​ ​release​ ​is​ ​Onyx​ ​which​ ​includes​ ​the​ ​Bitquence​ ​Universal​ ​Wallet.​ ​In​ ​this​ ​stage​ ​we
hope​ ​to​ ​release​ ​the​ ​first​ ​iteration​ ​of​ ​the​ ​Universal​ ​Wallet​ ​as​ ​well​ ​as​ ​a​ ​companion​ ​mobile
application​ ​to​ ​manage​ ​all​ ​of​ ​your​ ​funds​ ​in​ ​one​ ​place.​ ​The​ ​Universal​ ​Wallet​ ​will​ ​be
decentralized​ ​(user​ ​owned​ ​and​ ​managed)​ ​giving​ ​users​ ​complete​ ​control​ ​over​ ​their​ ​funds.​ ​This
release​ ​will​ ​be​ ​open​ ​to​ ​Bitquence​ ​Token​ ​Holders.
Bitquence​ ​Release​ ​3​ ​-​ ​“Alexandrite”
One-Click​ ​Diversification
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The​ ​third​ ​release​ ​is​ ​Alexandrite​ ​which​ ​includes​ ​One-Click​ ​Diversification​ ​and​ ​the​ ​Bitquence
Settlement​ ​Layer.​ ​In​ ​this​ ​release​ ​users​ ​will​ ​be​ ​able​ ​to​ ​diversify​ ​their​ ​funds​ ​on​ ​top​ ​of​ ​the
Universal​ ​Wallet​ ​architecture.​ ​This​ ​is​ ​a​ ​powerful​ ​feature​ ​since​ ​it​ ​allows​ ​novice​ ​market
participants​ ​to​ ​quickly​ ​become​ ​exposed​ ​to​ ​variety​ ​of​ ​cryptocurrencies​ ​instantly.
Bitquence​ ​Release​ ​4​ ​-​ ​“Palladium”
Fiat​ ​Integration
The​ ​fourth​ ​release,​ ​Palladium,​ ​will​ ​be​ ​fiat​ ​integrations.​ ​To​ ​begin​ ​accepting​ ​fiat,​ ​it​ ​will​ ​require
analysis​ ​of​ ​many​ ​legal​ ​and​ ​regulatory​ ​hurdles.​ ​We​ ​will​ ​have​ ​to​ ​comply​ ​with​ ​AML/KYC​ ​and
ensure​ ​the​ ​platform​ ​is​ ​highly​ ​secure​ ​before​ ​allowing​ ​any​ ​fiat​ ​in​ ​or​ ​out.​ ​We​ ​anticipate​ ​that​ ​this
will​ ​require​ ​a​ ​great​ ​deal​ ​of​ ​legal​ ​and​ ​regulatory​ ​analysis​ ​which​ ​is​ ​why​ ​we​ ​are​ ​pushing​ ​it​ ​out​ ​in
our​ ​timeline.​ ​This​ ​is​ ​a​ ​high​ ​priority​ ​for​ ​us​ ​and​ ​we​ ​believe​ ​we​ ​have​ ​the​ ​expertise​ ​required​ ​to
tackle​ ​U.S.​ ​markets.
2.5 Legal​ ​Considerations
The​ ​introduction​ ​of​ ​Bitquence​ ​involves​ ​many​ ​legal​ ​and​ ​regulatory​ ​complexities.​ ​​ ​In​ ​fact,​ ​these
intricacies​ ​were​ ​the​ ​determining​ ​factors​ ​in​ ​our​ ​decision​ ​to​ ​restrict​ ​access​ ​to​ ​our​ ​Token​ ​Sale
from​ ​those​ ​residents​ ​located​ ​in​ ​both​ ​Singapore​ ​and​ ​the​ ​United​ ​States​ ​where​ ​public​ ​policy
was​ ​extremely​ ​fluid.​ ​Although​ ​an​ ​analysis​ ​of​ ​BQX​ ​Tokens​ ​found​ ​our​ ​tokens​ ​to​ ​be​ ​of​ ​the​ ​pure
Functional​ ​Token​ ​class​ ​bearing​ ​no​ ​resemblance​ ​whatsoever​ ​to​ ​the​ ​more​ ​controversial
Tokenized​ ​Securities,​ ​we​ ​felt​ ​it​ ​more​ ​prudent​ ​at​ ​that​ ​time​ ​to​ ​proceed​ ​with​ ​these​ ​restrictions
as​ ​a​ ​matter​ ​of​ ​extreme​ ​caution.​ ​However,​ ​these​ ​restrictions​ ​have​ ​subsequently​ ​been​ ​removed
to​ ​ensure​ ​we​ ​can​ ​service​ ​both​ ​Singapore​ ​and​ ​United​ ​States​ ​residents​ ​as​ ​we​ ​move​ ​forward​ ​on
our​ ​development​ ​path​ ​and​ ​ultimate​ ​launch​ ​of​ ​the​ ​Bitquence​ ​Platform.
Legal​ ​considerations​ ​include:
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● Compliance​ ​with​ ​Know​ ​Your​ ​Customer​ ​(KYC)​ ​regulations​ ​and​ ​requirements
● Implementation​ ​of​ ​Anti-Money​ ​Laundering​ ​(AML)​ ​regulations​ ​and​ ​requirements
● Applicability​ ​of​ ​Jurisdictional​ ​Investment​ ​Company​ ​Laws,​ ​including​ ​Investment
Company​ ​Act​ ​of​ ​1940,​ ​to​ ​Bitquence​ ​services
● Applicability​ ​of​ ​Jurisdictional​ ​Adviser​ ​Laws,​ ​including​ ​Investment​ ​Advisers​ ​Act​ ​of​ ​1940,
to​ ​Bitquence​ ​services
● Applicability​ ​of​ ​Jurisdictional​ ​Securities​ ​Laws,​ ​including​ ​Securities​ ​Exchange​ ​Act​ ​of
1934,​ ​to​ ​Bitquence​ ​services​ ​(Broker​ ​Dealer​ ​/​ ​Exchange​ ​/​ ​ATS)
● Applicability​ ​of​ ​Jurisdictional​ ​Securities​ ​Laws,​ ​including​ ​Securities​ ​Act​ ​of​ ​1933,​ ​with
Token​ ​Classes​ ​made​ ​accessible​ ​on​ ​the​ ​platform​ ​(Securities​ ​Classification)
These​ ​issues​ ​should​ ​be​ ​considered​ ​by​ ​users​ ​considering​ ​advanced​ ​purchase​ ​of​ ​Bitquence
tokens.​ ​​ ​The​ ​fundamental​ ​role​ ​of​ ​the​ ​Bitquence​ ​token​ ​is​ ​to​ ​act​ ​as​ ​“gas”​ ​for​ ​the​ ​Bitquence
platform​ ​where​ ​users​ ​having​ ​BQX​ ​can​ ​access​ ​services​ ​on​ ​the​ ​platform​ ​including​ ​those
enabling​ ​portfolio​ ​construction,​ ​asset​ ​allocation​ ​rebalancing​ ​between​ ​various
cryptocurrencies​ ​and​ ​the​ ​Universal​ ​Wallet.​ ​​ ​However,​ ​depending​ ​on​ ​the​ ​above​ ​legal​ ​analysis,
the​ ​Bitquence​ ​service,​ ​either​ ​in​ ​whole​ ​or​ ​part,​ ​may​ ​not​ ​be​ ​available​ ​in​ ​certain​ ​countries.
Prospective​ ​token​ ​holders​ ​in​ ​the​ ​Bitquence​ ​Platform​ ​should​ ​consider​ ​these​ ​facts​ ​prior​ ​to
purchasing​ ​any​ ​Bitquence​ ​tokens.
3 Looking​ ​to​ ​the​ ​Future
The​ ​Bitquence​ ​application​ ​is​ ​designed​ ​to​ ​be​ ​developed​ ​and​ ​deployed​ ​as​ ​quickly​ ​as​ ​possible.
Initially​ ​Bitquence​ ​will​ ​run​ ​on​ ​cryptocurrencies​ ​and​ ​will​ ​be​ ​thoroughly​ ​scale-tested​ ​prior​ ​to
the​ ​integration​ ​of​ ​any​ ​fiat​ ​currency​ ​gateways.​ ​​ ​The​ ​core​ ​priorities​ ​of​ ​the​ ​application​ ​are::
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Security:​ ​​Rock​ ​solid​ ​cold​ ​storage​ ​technology​ ​and​ ​protocols.
Scalability:​ ​​The​ ​capacity​ ​to​ ​handle​ ​scale​ ​transactions.
Accessibility:​ ​​Making​ ​the​ ​platform​ ​fast,​ ​easy​ ​and​ ​mobile-friendly
But​ ​Bitquence​ ​has​ ​bigger​ ​plans​ ​beyond​ ​launching​ ​a​ ​convenient​ ​asset​ ​management​ ​platform.
We​ ​want​ ​to​ ​position​ ​Bitquence​ ​in​ ​the​ ​market​ ​to​ ​be​ ​the​ ​leader​ ​in​ ​secure​ ​value​ ​management​ ​in
the​ ​new​ ​economy.
3.1 ​ ​Linking​ ​to​ ​the​ ​Fiat​ ​Economy
Bitquence’s​ ​ambitions​ ​include​ ​the​ ​introduction​ ​of​ ​a​ ​hybrid​ ​solution​ ​where​ ​crypto​ ​and
traditional​ ​assets​ ​co-exist​ ​across​ ​a​ ​dynamic​ ​platform​ ​that​ ​enables​ ​consumers​ ​to​ ​monitor,
manage​ ​and​ ​access​ ​all​ ​of​ ​their​ ​financial​ ​assets​ ​across​ ​a​ ​uniform​ ​platform.​ ​Delivering​ ​a
uniform​ ​solution​ ​for​ ​crypto​ ​and​ ​traditional​ ​assets​ ​will​ ​be​ ​a​ ​critical​ ​tool​ ​in​ ​a​ ​consumer’s
toolbox​ ​over​ ​the​ ​next​ ​decade​ ​as​ ​the​ ​natural​ ​progression​ ​of​ ​what​ ​began​ ​as​ ​the​ ​“paperwork
crisis”​ ​in​ ​the​ ​late​ ​1960’s​ ​shifts​ ​away​ ​from​ ​the​ ​movement​ ​of​ ​physical​ ​stock​ ​certificates​ ​to
book-entry​ ​form​ ​(dematerialization),​ ​to​ ​a​ ​complete​ ​digitization​ ​of​ ​assets​ ​of​ ​all​ ​types.
While​ ​this​ ​transition​ ​occurs,​ ​the​ ​Bitquence​ ​Platform​ ​will​ ​provide​ ​consumers​ ​with​ ​essential
technology​ ​that​ ​allows​ ​diverse​ ​financial​ ​holdings,​ ​both​ ​digital​ ​and​ ​traditional​ ​assets,​ ​to​ ​be
made​ ​readily​ ​accessible​ ​across​ ​a​ ​unified​ ​platform​ ​that​ ​enables​ ​consumers​ ​to​ ​better​ ​diversify
risk​ ​and​ ​manage​ ​assets​ ​of​ ​all​ ​kinds.
3.2 Cryptocurrency​ ​Services​ ​and​ ​Mass​ ​Adoption
Bitquence’s​ ​vision​ ​is​ ​to​ ​be​ ​the​ ​standard​ ​for
cryptocurrency​ ​services​ ​in​ ​the​ ​New​ ​Economy.​ ​By
bridging​ ​the​ ​gap​ ​between​ ​the​ ​old​ ​and​ ​the​ ​new,​ ​we
intend​ ​to​ ​offer​ ​a​ ​safe​ ​and​ ​easy​ ​way​ ​for​ ​anyone​ ​to
interact​ ​with​ ​the​ ​future​ ​of​ ​finance.​ ​Global
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remittance,​ ​instant​ ​payments,​ ​localized​ ​payment​ ​portals​ ​and​ ​so​ ​much​ ​more​ ​are​ ​possible​ ​with
the​ ​Bitquence​ ​Infrastructure.​ ​Furthermore,​ ​the​ ​Bitquence​ ​model​ ​can​ ​create​ ​a​ ​cryptocurrency
services​ ​company​ ​whose​ ​interests​ ​align​ ​with​ ​those​ ​of​ ​the​ ​people​ ​that​ ​it​ ​serves​ ​with​ ​Bitquence
Tokens.
3.3 ​ ​Balancing​ ​Decentralization
Ripple​ ​started​ ​as​ ​a​ ​centralized​ ​service​ ​that​ ​intended​ ​to​ ​decentralize​ ​in​ ​the​ ​future.​ ​Bitquence
will​ ​decentralize​ ​pieces​ ​as​ ​it​ ​makes​ ​sense​ ​in​ ​development.​ ​A​ ​big​ ​issue​ ​that​ ​cryptocurrencies
have​ ​been​ ​facing​ ​is​ ​that​ ​there​ ​is​ ​no​ ​“support​ ​line”​ ​that​ ​you​ ​can​ ​call​ ​if​ ​something​ ​goes​ ​wrong
with​ ​your​ ​money.​ ​While​ ​autonomy​ ​and​ ​control​ ​are​ ​key​ ​to​ ​the​ ​philosophy​ ​of​ ​cryptocurrencies,
mass​ ​adoption​ ​is​ ​impossible​ ​without​ ​proper​ ​consumer​ ​protection​ ​and​ ​services​ ​in​ ​place.​ ​This
is​ ​why​ ​we​ ​decided​ ​to​ ​decentralize​ ​(self-manage)​ ​the​ ​Bitquence​ ​Universal​ ​Wallet​ ​to​ ​preserve
the​ ​ideals​ ​of​ ​the​ ​cryptocurrency​ ​system,​ ​but​ ​at​ ​the​ ​same​ ​time​ ​building​ ​a​ ​technical
infrastructure​ ​that​ ​supports​ ​and​ ​protects​ ​consumers.​ ​Not​ ​all​ ​pieces​ ​of​ ​the​ ​Bitquence​ ​platform
need​ ​to​ ​be​ ​decentralized​ ​and​ ​centralizing​ ​many​ ​pieces​ ​of​ ​it​ ​will​ ​result​ ​in​ ​a​ ​better​ ​end-user
experience.​ ​We​ ​believe​ ​that​ ​this​ ​process​ ​will​ ​involve​ ​carefully​ ​preserving​ ​cryptocurrency
ideologies​ ​while​ ​enabling​ ​mass​ ​adoption.
We​ ​are​ ​incredibly​ ​excited​ ​about​ ​the​ ​huge​ ​potential​ ​of​ ​Bitquence.​ ​​ ​Thank​ ​you​ ​for​ ​reading​ ​our
Whitepaper,​ ​and​ ​please​ ​visit​ ​​www.bitquence.com​​ ​to​ ​follow​ ​us​ ​on​ ​social​ ​media​ ​and​ ​interact
with​ ​our​ ​community-driven​ ​project.
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www.bitquence.com
This​ ​is​ ​not​ ​an​ ​offer​ ​or​ ​to​ ​sell​ ​or​ ​a​ ​solicitation​ ​to​ ​buy​ ​any​ ​digital​ ​assets.​ ​​ ​The​ ​cryptocurrency​ ​space​ ​is
volatile.​ ​​ ​Please​ ​be​ ​careful​ ​and​ ​thoughtful​ ​​ ​when​ ​purchasing​ ​any​ ​cryptocurrency​ ​token,​ ​digital​ ​asset​ ​or
token​ ​sale.​ ​This​ ​paper​ ​can​ ​be​ ​changed​ ​at​ ​any​ ​point​ ​with​ ​no​ ​prior​ ​notice.​ ​​ ​You​ ​are​ ​responsible​ ​for
complying​ ​with​ ​local​ ​jurisdictional​ ​laws​ ​and​ ​regulations.​ ​​ ​We​ ​encourage​ ​and​ ​support​ ​reporting​ ​and
paying​ ​taxes​ ​on​ ​your​ ​cryptocurrency​ ​gains.
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