Time and Blockchain
Time is the natural measurement for the human labor value. Labor creates value. Labor value is measured by labor time, and manifested by labor remuneration. Therefore, the individual is value, namely time is money.
In the meantime, usage of individual time is the main reflection on social relations: the usage of individual time in slavery means a lifelong possession, in feudalism means a permanent buyout, and in capitalism means the contract of employment. Such as, hourly wages, monthly salaries, and annual salary are commonly used in the modern society.
Blockchain is an emerging technology that uses cryptographic algorithm and the feature of decentralization to maintain a reliable distributed database. More and more people believe that blockchain is going to lead the transformation of the production relations in the future smart society, because it has shown great value in three aspects:
1. Distributed ledger brings trust and prevents tampering or deleting information with centralized feature, make up for the deficiency of traditional credit system, and save social trust cost.
2. It is possible to generate a digital token, which can confirm the value of contribution and incentivize contributors. Thus a new way of decentralized community collaboration will be formed.
3. Transaction circulation of digital token can also bring the trusted value transmission network.
Technically speaking, time and blockchain share the essential feature of irreversible, tamper-resistant, transparent, and trust machine, the blockchain naturally conforms to the definition of time in the universe. Functionally speaking, time and blockchain are both powerful tools to promote transformation of distributed relationships among people. Therefore, when time meets blokchain, the future time usage of co-creation and co-sharing will be generated.
Blockchain Promotes Individual Time Co-creation and Co-sharing
TNB is the first innovative project that utilizes blockchain technology to improve individual time usages. TNB team calls the new model of “co-create and co-share of individual time value” as “Time New Bank”, and the commercial application of MiaoA Dapp has been introduced, the technology development for the M.I.T time chain is launched. Currently TNB is a blochchain project that owns an actual mainnet and application.
Before the M.I.T mainnet launched,TNB has worked with MiaoA, attempted to do service e-commerce trading via individual time. MiaoA has launched five digital products of individual time (Kim Joon Kook, Laomao, Maldini, etc) the exercise period is relatively short, exercise contents are limited and heavy on the consumer attributes of Fan Economy.
Service e-commerce is one field. TNB aims to use blockchain to promote individual time co-creation and co-sharing. Another field is to solve talent cultivation problems with “individual time crowdfunding ”, the individual can share the cost risk of their growth period and investors share the returns when maturation stage comes. After M.I.T mainnet activated, TNB will start to explore on applications of “ individual time crowdfunding”, the listed individual time products are digital tokens with long exercise duration, rich exercise contents and more on investment attributes, TNB Team calls it “NASDAQ for individual time”.
NASDAQ for Individual Time
Talents are everywhere, however, seldom can they be recognized. The important reason is the lack of the Investment-Return mechanism. The long-term investing period for talents and the returns depends on the soft constraints of moral, which lead to the scarcity of talent scout.
Meanwhile, individual time is the natural investment goods, with scarcity and high value-adding capacity. Invest on time means invest on individual, which is the best investment, because:
1. The time of aspirants like Maotai. The longer it is stored, the more valuable it is.
2. Projects of quality entrepreneurs may fail, but their ability grows.
“NASDAQ for individual time” aims to solve the problem of “talents cannot be found ”. Specifically speaking:
1. Turn individual time into credible public investment goods. TNB will transform individual time to digitized and identified time tokens based on M.I.T time chain, and record the process of time value verification, storage, transaction, exercise, repurchase through transparent tokens.
2. Build an effective return mechanism of talent investment. TNB will draw on the system of rules from listed companies, and establish a series of guidelines standard supervision for individual time digital token issuing, transaction, exercise and repurchase, etc.
Based on the above work, TNB team will open up technology platform and business model to stimulate the cooperation of TNB global communities via token economy, and promote the global development of “NASDAQ for individual time”.