UnitedCoinCC is a commodity coin (UCC) that utilizes smart contracts between peers on a distributed ledger (DLT) held by nodes with equal consensus. We, at RēPUBLIK, are of the belief that currency, whether fiat or crypto, is a utility for the transfer of money between entities and should not be considered a product in and of itself.
This white paper is intended not to incite investment or to announce an initial coin offering (ICO), but instead to express to the token holder of its utility of use and scope of function. The inherent value of the coin is predetermined by the price of the respective commodity to which it is tethered. The RēPUBLIK ecosystem and United Coin wallet use UCC backed by gold (XAU), as the reserve currency. The physical gold is stored at United Vaults, located in 5 of the safest cities in the world, the main vault is in Toronto, Canada. More coins will be added for liquidity when gold becomes scarce. For now, United Coin Sterling (UCS) – backed by sterling silver XAG, and United Coin Crude (UCR) – backed by crude oil (OIL) are ready for future use.
The goal is to tokenize all non-blockchain assets including Stocks, Commodities, ETFs and other equities and allow efficient exchange between each security, minimizing fees, reducing turn around from 2 days to 15 seconds.
The equivalent of UCC has been allocated to the RēPUBLIK team for their initial investment of $200,000USD to develop the existing marketplace, fulfillment, wallet apps and mAPPS. Compensation and opportunities for future development will be listed on forums and the WantList Marketplace. This includes management, coding, and design for contractors, employees, and eventually open-source development. Remuneration will be paid not by issuing new UCC coins, but from the fees (troy) earned during transactions and administration.
In the coming paragraphs we will discuss the current landscape and the challenges we face for both crypto and fiat as a globe and how RēPUBLIK will address these difficulties to create an environment that is free and open for equal wealth generation opportunities, regardless of one’s past or current stature. We will outline the roadmap for open source, self regulated governance, and a global decentralized peer-to-peer free market. Independent from the control of self-proclaimed authorities; immune from volatility caused by speculation; and guarded against manipulation by the corporatocracy. The people are the authority and are capable of self-reg. Righteousness is inherent. The crowd governs itself and determines right from wrong. The tokenomics too are determined by the market. There is no central authority that decides the coin release or burn rate. Coins are created upon wallet loads and removed from the ecosystem on wallet redemption. The exchange rate for each coin is pegged to the respective commodity it represents, with minimal transfer fees called a Troy. Troys cover the cost of physical gold storage and bank transactions. Physical gold bullion can be redeemed in 400 Troy oz bars. To provide daily audits, we keep costs low by storing gold in one denomination. United Coin is purchased/redeemed for USD, CAD, or EUR in increments of 1 grain of gold. Grains can be infinitely divided for exact transactions. 1 Troy oz is 480 grains of gold. 1 UCC = 1 grain of Gold = 1 XAU/480.
Development of the WantList.cc peer to peer, market
ecosystem App. A classified listing of product and service offerings by users.
The app uses GPS to match local buyers and sellers of various goods and
services ranging from consumer goods, hand crafted food and items, electronics,
toys, home/garden, construction, accommodations, and services such as
freelancers, contract trades, hair/beauty, technicians/repair, and events such
as personals, gatherings, dining, entertainment, and virtual goods such as digital
assets, virtual discord, and the metaverse. Users are encouraged to verify
their accounts to unlock age restricted categories that list products like
handcrafted beer, cannabis products and sensual massage or personal
companionship. 18+ categories are hidden to guests, unverified users or
verified users that do not meet the age criteria. Age verified users have the
option to toggle on/off restricted categories from view. All transactions are
made using United Coin UCC. Wallet limits are determined by user type. Basic
users and guests can not load their wallet or list items, and can only view unrestricted
category listings. Pro users can list unrestricted items and load small amounts
to their wallets for nominal transactions. To adhere to KYC and AML
regulations, a tier system is implemented to limit wallet loads. Higher tiers
are unlocked base on user types: Basic (guest) – 0, Pro –
verified – U10000, Pro age verified – unlimited.
The WantList Viewer app is available for download on the Google Play Store or WantList Pro App from WantList.cc.
Development of DecoX.cc a fulfillment utility that provides rideshare and delivery of goods by partner pilots and drivers using various UAV and MRV methods including drone, bicycle, motorbike, passenger car, rickshaw, pedestrial, truck, tow, and even ultralite quadcopter if applicable. Partners can add multiple vehicles. The algorithm dispatches requests based on vehicle payload and capabilities. Partners are paid in UCC and can redeem for fiat or can create an account on wantlist.cc to purchase goods and services.
The DecoX App is available for download on the Google Play Store or from DecoX.cc.
Development of the United Coin Wallet: a web2.0 peer to peer
transaction utility with private key and 2fa encryption tied to the WantList
market ecosystem. Users can load/redeem fiat to their wallet in exchange for
UCC using interac etransfer, and real time direct bank transfer. Users can also
load UCC using any major credit card. A loadable credit card, tied to your UCC wallet, to use for in person transactions is under consideration for future updates. The symbol for United Coin is UCC or
derived from the letter Upsilon, the 20th letter of the Greek alphabet. In the
system of Greek numerals, uʹ has a value of 400. It is derived from the
Phoenician letter waw and the Persian letter Vaav.
UnitedCoin Wallet can be downloaded from the Google Play Store or from UnitedCoin.cc
The WantList marketplace categories that are most unique and popular are featured as micro apps, or mAPPS. These can be developed by third parties that want to tap into the existing user database and become part of the free-market ecosystem utilizing UCC for transactions, local GPS matching algorithm, and partner pilot/driver fulfillment platform DecoX. Current mAPPS include ChefYou.cc, the worlds first foodshare app. ProLancer, the freelancer and contract trades marketplace for the peer-to-peer service industry. OnlyIndys.com, a companion app that connects independent service providers with clients. WeedDrops.cc, a drone delivery marketplace for home hydroponic cannabis growers and related products. SubLet.cc a bed/room/apartment hoteling and short-term rental app. SitTobi.com a pet boarding and dog walking app that matches sitters and owners. AugMall, an augmented reality where shop owners can rent virtual spaces, design experiences and sell tangible goods and services that are delivered by partner pilot/drivers. mAPPS are white label products that can be branded and customized for a licensee.
This is where we are today...
The next step in our development is to further decentralize UnitedCoinCC by integrating the delegated proof of stake system with distributed ledger technology. The key criteria are to maintain low to zero fees while offering high interoperability with present and future fintech systems without compromising speed or security.
Utilizing decentralized distributed ledger technologies (DLT) and smart contracts between multiple nodes including the buyers, sellers, fulfillment partners, and banks with equal consensus rights, that act as delegated proof of stake (dPOS) endpoints.
Development of intraLedger for interoperability that still allows complete decentralization of dPOS blockchain. Going open source will lead fintech away from central authority to an era of equal wealth opportunities with ease, speed, low fees, and emerging technologies in new digital landscapes. Open source and Web3.0 are the ways of the future and should be the goal of any currency whether digital or fiat.
Algorithm – The logic for the ecosystem’s user experience.
Anti-Money Laundering (AML) – The responsibility of platforms to ensure money acquired from illicit revenue streams are not loaded into the ecosystem to wipe clean its origins.
Blockchain – A cloud of nodes connected for processing and validating exchanges of data, typically transactions.
Commodity – Tangible securities that are staples of life and commerce. Typically precious metals, farming products, and energy sources in the raw form that it's procured from the earth.
Crypto – An encrypted digital currency with a public key for exchange on the blockchain and a private key that holds transactional data and holdings balance.
Delegated Proof of Stake (dPOS) – Transactions are validated by consensus on multiple nodes, confirming network data by majority vote, before processing.
Distributed Ledger Technology (DLT) – A record of transactions copied to all parties involved in the transaction.
Exchange-Traded Funds (ETFs) – A basket of securities that are traded at the same frequency as stocks.
Fiat – Currency issued by member state central banks of the United Nations in accordance with the International Monetary Fund and the world bank. Including cash and electronic representations of legal tender.
IntraLedger – A cloud-based transaction consensus protocol that is interoperable with fiat through the commodities’ exchanges, giving inherent value to digital currency.
Know Your Customer (KYC) – The responsibility of platforms to hold users accountable for activities that are deviant or not conducive of the rules of a region.
Micro Apps (mAPPS) – Branded white label apps highlighting specific categories which access the user cloud, payment system and fulfillment utility of the ecosystem and deployed as a stand-alone product.
Node – Devices or endpoints that are connected on the cloud by users or autonomously to and through one another.
Open Source – A development structure where coders and designers can add to or change programs based on the project manifesto without direct contract. Rarely for remuneration and often just to see the projects success, or merely for bragging rights and just because they can.
Stocks – shares in a company.
Wallet – A digital bank account app that you can load/redeem/exchange digital currency by/for fiat currency to use for transactions on the market ecosystem.
Web2.0 – The internet’s second generation and current version of the way we use the web as an exchange of information.
Web3.0 – The future of the internet, an immersive ecosystem that houses our commerce, social and, leisure realities, whether augmented, virtual, or open world.