The VTBCommunity Project

Introduction

Digital technologies have propelled our every communication and transaction into a new era of interconnection where data is transmitted rapidly from one part of the globe to another. In that same manner, electronic transactions are gradually replacing the need for tangible bills. Indeed, money has become increasingly virtual and synonymous with mere data transmission, especially with the emergence and expansion of the digital economy.

Having become mainstream nearly around the world, these data transfer technologies now require an expansion of their availed infrastructures, enabling users to move value in a safer, more accessible and utmost convenient manner.

Globally, people are seeking improvements in the current financial system. According to a study conducted in 2015 by Accenture gathering 2000 senior decision-makers around 15 countries, their use of analytics and Cloud-based infrastructure had increased by 34% and 30%, respectively, and in doing so, their primary concerns were security and keeping pace with digital advancements. In another more recent study, because of the surge of digital network use during our global crisis, masses ask for easy access, fast delivery and increased security for everything from bill payments to sending money to loved ones without going to a financial institution.

These necessities have driven the development of online banking and other electronic payment systems; many will show up in web searches. Money, assets, and wealth have been changing, and the next generation of financial instruments and vehicles will likely be built using something like regulated blockchain technology that enforces laws and protects people from fraud.

Meanwhile, a simple internet search will show that banks are starting to adopt blockchain technology globally. Having already proven its effectiveness and given its global demand, the time has come to expand upon its initial design and avail it to the world. In that respect, we believe that our project, VTBCommunity (VTB), cannot only achieve this task but provide other innovative financial opportunities.

VTB is designed to advance the digital money infrastructure by offering a stable and predictable growth asset. It is more straightforward, user-friendly and renders a rich end-user experience while lessening the often-cumbersome cost burden otherwise charged by the current financial systems and some alternatives.

More specifically, the VTB system is based on methodically increasing the asset value, thus progressively increasing users’ net worth while charging a fixed fee within the VTB system. This enables an expanded purchasing power to meet their goods and services requirements. Although its inherent vision may seem somewhat utopian, or as some may think, “too good to be true,” the fact is that its design is meant to transform the financial system’s past four to five decades of macroeconomics (since Simon Kuznets won the 1972 Nobel Prize in Economics) into something new. Take inflation, for instance, even with its annual fluctuations, the cost of living has continuously risen, and this year, 2021, has seen the highest yet (macrotrends.net). In terms of perspective, the CPI inflation calculator estimated that the purchasing power of US$1.00 in 2000 had decreased to 0.60 cents in 2021[1]. That being true, one could also say that similar assets to VTBC already exist, such as “Risk-free Bonds” typically seen as United States Treasury Bonds, but the ROI is far from sufficient to help anyone become financially comfortable let alone independent.

Let’s face it, whatever increase in wages employees have received or sales generated by most Small to Medium Enterprises (SME), their bottom line has flattened due to an equal or sometimes higher inflation rate simultaneously applied on goods and services for at least the last 20 years. This decreased buying power dwindles most people’s potential to live within their means. Home prices, for example, have become unaffordable to most, while the cost of food, another basic need, has substantially risen due to a high rate of inflation across many countries. Unfortunately, this never-ending cycle in a financial system serving its ends, not humankind’s, can only lead to an increasing lack and poorer societies.

The question that begs an answer is, “Why is this happening?”—followed by perhaps an even more important one, “How is it remedied?”. This project has considered these questions and found a way to transform them into remedies. Simply put, the refined and efficient solution is to take the rising cost of living and apply it to a system that works for the VTB users (community members) instead of against them. In this way, such community members can buy goods and services, food, housing, etc., in a safe, secure, and abundant manner using a new infrastructure built on blockchain.

Most debates about money are philosophical, but the real question is, “Are people willing to adopt positive changes?” or “What are they willing to accept in exchange for labor and or products?”. Recently, people in prominent positions are now accepting Bitcoin for their wages. Realizing that fiat money is only backed by debt, would everyone be willing to continue using it, even at a loss? Or would they happily switch to a medium of exchange based on growth and abundance? A brilliant person once said about finance and banking, “These are man-made rules; they are not natural laws, such as gravity.”

It means that humans can create any exchange system for their goods and services. VTB has created a system that will generate abundance for its users and holders.

In short, the VTB contribution to the digital money ecosystem is integrated into existing technologies utilizing a “layer-2” methodology using a sidechain pattern to ensure uncompromised security and stability. Moreover, this innovative system utilizes Ethereum and IPFS technologies to back up its data with transparency. In this manner, VTB provides a secure environment. For those already acquainted with cryptocurrencies, it is similar to an NFT where a token can be seen in a decentralized environment by accessing IPFS addresses through Etherscan. This transformation to the next level of digital money, assets and wealth was inspired by the now renowned giants, such as Bitcoin and Ethereum. Now is a time for the next generation of cryptocurrencies to meet the financial demand of the world with projects like VTBCommunity.

[1] https://www.in2013dollars.com/us/inflation/2000?amount=1

You may consult our White Paper for a complete reference of this whole section at https://bit.ly/vtbwhitepaper