Post on 29-May-2018
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Overview
Now, I would like to talk to you about ORC Tokens. Simply put, with ORC
Tokens, you can establish encrypted payment options for companies all over the
world. This enables our company to combine block-chain technology and real
businesses, and help 500 million companies worldwide to potentially benefit from
encryption.
ORC
(OracleG Token) is a new encryption feature that offers the benefit of new
passwords. The ORC offers advantages (anonymity, accessibility, payable
anywhere) for potential clients (anonymity, limited issuance, open community
management) and in terms of payment systems (accurate calculation, automatic
switching, mobility), while avoiding the "negative" aspects of settlement systems
(slow transaction speed, high mining fees, limited legality, lack of infrastructure
calculations, storage complexity, etc).
OracleG also extends the reach of ecosystems and infrastructures for settlement-
related businesses including prepaid cards, while providing encryption for more
than 500 million businesses worldwide and increasing the scope of encryption at
the same time.
The OracleG paradigm is the product of business-to-business (B2B) and
business-to-customer (B2C) relationships built in order to create new trends in a
globalized economy.
OracleG
www.oracleg.io
The cryptocurrency payments for business
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OracleG
The cryptocurrency payments for business
Unlocking crypto payments for business
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Contents
1. Introduction
2. Vision
3. Business and Market
1. Business
2. Encryption Market
4. Issues & Problems
1. Defining Problems
2. Solving Problems
5. Work Process
1. Users’ point of view
2. How does it work?
3. Principles of OracleG transaction calculations
6. Relevant Technology
1. OracleG Development Process
1_1. Execution of transactions
2_1. Smart contracts
3_1. Multi-thread block chain
4_1. OracleG Tokens
7. OracleG Token Information
1. Phase 1 token sales
2. Phase 2 token sales
3. Token sales period
8. Resume
9. The OracleG Team
10. Our Conclusions
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1. Introduction
Many businesses and customers around the world face a myriad of
inconveniences and problems with transactions and the settlement of accounts,
which stem from high transaction fees and regulations on down payment,
reliability, and time requirements.
With our billing system encryption, businesses and consumers can benefit in six
different ways:
1. Round-the-clock transactions
2. Low transaction costs
3. Access to global markets
4. Great reliability
5. High transaction speed
6. Full control over funds
1. Round-the-clock transactions
You can use encryption to keep your business running 24/7. You do not have to
wait until the banks open, and all transactions can be approved by a single
regulating authority.
This is one of the most significant benefits exclusively available using encrypted
transactions.
2. Low transaction costs
So far, companies have incurred massive transaction costs whenever they interact
or deal with one another. A company's funds go through several middlemen,
banks, correspondents, senders, brokers, SWIFT systems before finally clearing
the banking system. For these transfers, the loss of funds can reach up to 15%.
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3. Access to global markets
Regardless of the transaction type, transactions are subject to a number of
“classic” limitations. To elaborate, transactions have to proceed through the
closing of contracts, processing by the trading organization, and bank controls,
all of which can take several days. That is why businesses and consumers should
be inclined to choose the encryption market. In particular, telecommunication
carriers can replace pre-paid cards issued across the globe with encrypted
currency systems to facilitate efficient transactions.
4. Reliable calculations
The calculation of nominal currencies is unreliable because they can affect the
transactions of several regulators. Cryptocurrency transactions are fixed in the
block chain and cannot be changed. This minimizes the impact of scammers.
5. High speed of transactions
All Inter-code transactions take between 1 and 10 days, while transactions for
potential clients may take only 10 minutes to an hour. In addition, more and more
companies understand that encryption is the safest, fastest, and most reliable
means of transaction.
10 months ago, the OracleG team began developing a platform for transaction
payments and is ready to offer solutions for businesses that can meet growing
demand.
At the moment, we are developing businesses based on block chains and smart
contracts. OracleG Tokens are the only currency available on the OracleG
platform. They offer a variety of options that can affect exchange, commission
and smart contracts in all transactions.
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2. Vision
OracleG's vision is to keep all moneys safe, make them instantly recoverable, and
enable encrypted currency trading with OracleG Tokens anywhere around the
world. OracleG’s hope is to create electronic wallets that can replace prepaid
cards and mobile data payments related to mobile businesses, and wallets that are
compatible with card payment systems. By doing so, it will enable businesses and
consumers to make POS payments with OracleG Tokens at any location across
the globe. OracleG Token will ultimately become a specialized global
cryptocurrency for businesses and consumers around the world paying for mobile,
consumer goods, and online betting through OracleG.
3. Business and Market
1. Business
1_1 Mobile Data
In a “data-sharing economy,” you can freely purchase, sell, and donate
mobile data to all users. OracleG Exchange acts as a horizontal market for
transactions involving mobile prepaid cards and data. OracleG Token will
become the global currency for mobile data between telecommunication
carriers and various user communities.
2_1 Mobile Prepaid Cards
80% of the world's population are using prepaid phones and, on average,
people use 500MB of data per month. We have developed MelonPay to
provide an economical prepaid card option for prepaid wireless subscribers.
Subscribers can use MelonPay to purchase prepaid cards at an affordable
price. Here, payments will be made using OracleG Tokens.
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3_1 On/Off-line Stores
Our goal is to make encrypted currency i.e. cryptocurrency transactions
possible using OracleG applications. Furthermore, we are looking to create
an electronic wallet that is compatible with the card transaction settlement
systems so that OracleG Tokens can be used for POS payments and online
transactions anywhere around the world.
2. Encryption Market
With the growth of the e-commerce market, the encryption market is also
booming. The development of the encryption market is unpredictable, but
estimates clearly suggest that demand for encryption is rapidly rising. Despite
the fact that the market value of each currency is volatile, there is the problem
of using a large distribution network. But, on the other hand, there are several
favorable factors for developing cryptocurrency today.
For the first time ever, the encryption market has been infused with over USD
150 billion in market capitalization. For example, Bitcoin (BTC) has a market
share of more than USD 78.6 billion, meanwhile other coins such as Ethereum
have only recently started to hit the market.
3. Capitalization.
Bitcoin itself is constantly hitting “All Time High (ATH)” levels in terms of price
and market capitalization.
Currently, there are 750 cryptocurrencies around the world. Each have different
names, different protocols, and different implementation agreements. But there is
one feature that unites them all under the name "Altcoin". All cryptocurrencies
require ‘peer-to-peer’ transaction. In other words, they are only available for
dedicated payments. It is regarded as the main obstacle that inhibits the
development of the cryptocurrency market.
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4. Issues & Problems
1. Defining Problems
There are several restrictions on the use of cryptocurrencies in everyday life and
mobile environments. Without solutions to these problems, the cryptocurrencies
market will not be able to grow, and eventually it may die out. Here are five major
problems that can occur in major markets and some suggested solutions.
1_1. Mutual payments
Payment processes employ a classic way of sending funds from wallet
to wallet, therefore the automation of calculations is still a complex and
costly process. This is due to the fact that there is no platform for
automatic cost calculation and the immediate closing of contracts.
2_1. Corporate settlement
Block chains and smart contracts offer solutions to ongoing business
problems. In other words, they can evaluate investment in human
resources and the company. But modern block chain technology is not
suitable for businesses. It is slow and does not have the ability to extend
fast solutions so that the technology can be applied to common tasks.
3_1. Online settlement
Providing an online settlement system between consumers and businesses
is a complex and costly process. Specifically, in order to implement an
online settlement system, the company has to enter into a contract with an
acquisition platform, obtain a security certificate, and integrate the
payment module into the website.
4_1. Offline settlement
Markets with an increasing number of POS terminals require payment
terminals at each branch and retail store. This results in a loss of up to 9%
of the transaction fee from business revenues. All additional costs
associated with processing transactions are transferred to the final buyer,
which results in higher commodity costs.
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2. Solving Problems
OracleG offers largescale solutions that enable users around the world to legally
use virtual currency payments in their daily lives. We provide solutions that can
replace pre-paid phone charging in the telecommunications field, helping
consumers and businesses effectively manage security and costs.
OracleG Tokens are creating new sectors in the economy. Consumers and
businesses can use OracleG Tokens to access more goods and services.
5. Work Process
At OracleG, we want to give OracleG users around the world the opportunity to
purchase goods and services including everyday transactions, mobile data,
prepaid cards, consumer goods, and online betting games instantly. To do so, we
are developing a platform that can combine all business management and
forecasting features.
The diverse range of benefits and functions of the OracleG business system will
benefit both small and large businesses.
1. Users’ point of view
OracleG Tokens (ORCs) provide an environment for the payment of everyday
transactions, mobile data, prepaid cards, consumer goods, and online betting
games. At the same time, all payments will use OracleG Tokens instead of plastic
cards and cash.
2. How does it work?
The introduction of cryptocurrencies requires the development of a platform
capable of accepting payments in the retail and corporate markets. Also,
fundamental support that can help maintain confidentiality and a business system
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for transactions be in place. That system is indeed OracleG. Furthermore, the
system should include a mechanism for receiving funds and a mechanism for
verifying transaction payments. However, virtual currency is a tool for PIN-to-
PIN calculations, and this is the main barrier to the globalization of
cryptocurrency transactions.
The mobile market will be largely divided into mobile data and prepaid cards.
Mobile data involves selling off some of the data that mobile users have,
and prepaid cards involve consumers choosing the rates they want using
MelonPay.
3. Principles of OracleG transaction calculations
1. Select OracleG settlement for OOO (products, mobile prepaid cards,
data, etc.)
2. Open the OracleG application, then scan the QR code. Your payment
will be credited to the supplier’s account. (Suppliers can confirm
payment and receive OracleG immediately.)
3. When the transaction is complete, the commodity is delivered from the
supplier -> customer.
6. Relevant Technology
In terms of potential, the market consists of billions of users, billions of products,
and trillions of transactions. To be able to respond to such market conditions, we
are developing OracleG as a system with an extremely high load capacity.
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OracleG Development Process
1. Execution of transactions
Synchronization of exchange information for existing and past transactions is
implemented based on two independent layers and block chains.
1) A back-end system with all the programming interfaces necessary in
retrieving information needed for the system's current transaction, status,
etc.
2) Smart contract chains are based on smart contracts and have the ability to
ensure transparency as well as reliability of transactions for all
participants.
3) The smart function verifies the presence of events within the platform
(product availability, customer payment capacity, and other parameters
that can be pre-executed within the system).
2. Smart Contracts
OracleG is developing technology to help implement smart contracts. Smart
contracts allow consumers and businesses to implement complex interactions
between users. As such, they need a tool that can simplify the process for end
users in using the contracts. With this interface, consumers and businesses can
finalize contracts in just a few clicks. In a few simple steps, they can set basic
contract conditions with regards to the implementation of required inspections
and sources.
For example, smart contract templates will be developed for purchasing and
selling transactions, and these contracts will consider relevant legal requirements
and fully respect the consumer rights.
The process of writing a smart contract involves completing a web form
and verifying the terms and conditions of the second party involved in the contract.
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3. Multi-thread blockchain
OracleG believes that today’s block chain technology is not suited for modern
businesses.
When developing multi-thread chain technology, we will provide
groundbreaking levels of support to help implement block chain technology in
the real economy.
4. OracleG Tokens
Encrypted OracleG.COM is fixed to a cross-type block which features the
software. Once the Tokens are sold, all participants will receive an ePC240
Exchange OracleG Token from the Ethereum Network. When the major OracleG
networks are launched, the ratio will be adjusted to 1:1 on a one-to-one basis.
All transactions related to goods and services in the OracleG Network will be
made with OracleG Tokens using prices denominated in OracleG Tokens. The
amount of the purchased product will be paid for with OracleG Tokens using
the block chain.
5. Key features of OracleG Tokens
OracleG Tokens are an evolved, decentralized block-chain token network that
executes smart contracts. OracleG addresses many of the problems with today’s
payment systems by providing additional benefits of the block chain foundation.
It also provides an environment that can be used for the payment of everyday
commodities as well as mobile data, prepaid cards, consumer goods, and online
betting games.
OracleG has the opportunity to become the first block-chained application in the
world to be widely adopted without the public having to understand the
underlying distribution technology.
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- Purchasing/selling goods and services with a currency for online and
offline purchases
1. Consumers and businesses can purchase and sell goods and services
using their own OracleG Tokens. 2. At OracleG, we developed applications to make purchasing and selling
goods and services easier and faster.
- Can OracleG Tokens replace the prepaid phone charging service
provided by telecommunication carriers?
1. Under existing prepaid phone charging methods, users had to visit their
telecommunication service carrier or recharge their accounts by phone.
However, in OracleG, users can select the amount they want through
MelonPay and then settle their payments with OracleG Tokens.
- How does mobile data sharing work?
1. Users can register the amount of data they wish to sell from their
current reserves via MelonPay.
2. When the user who needs data proceeds to purchase the data, the seller
will receive OracleG Tokens.
7. OracleG Token Information
Participating in the sale of OracleG Tokens means that the participant understands
that they are contributing to the development of OracleG SmartTickets, a smart
contract system, described in this white paper.
The first token sales event is to create one billion OracleG, which will be the
total supply of OracelG.
Supply will be limited to one billion, and no further OracleG will be issued.
Throughout phase 1 of the Token sales event, 150 million Tokens will be offered
to OracleG contributors. (15% of the total supply)
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In phase 2, 200 million OracleG Tokens will be sold to exhaust all mobile prepaid
cards and mobile data reserves worldwide. Thereafter, up to 400 million Tokens
will be sold, depending on market conditions. When Token sales are complete,
any remaining Tokens owned by the company shall be deposited into a sealed
account for three years.
OracleG is an Ethereum ERC20 Token that extensively applies the functional
properties and execution standards of Ethereum block chains.
Tokens in the Ethereum ecosystem represent replaceable commodities such as
coins, securities, IOUs and SmartTickets.
Because all Tokens apply standard features, OracleG will be compatible with any
Ethereum wallet or other applications that use the same ERC20 standards.
Phase 1 token sales Phase 1 will launch in early-December 2017, and will remain open until OracleG
decides to end its Phase 1 proposal. Any remaining (unassigned) Tokens in Phase
1 will be forwarded for distribution in Phase 2.
Phase 2 token sales Phase 2 will begin when Phase 1 ends or when OracleG decides to give late
participants late an opportunity to acquire OracleG Tokens remaining from Phase
1 before the sales period ends. The specific timing depends on when OracleG
Tokens are applied at actual businesses operating in markets around the world in
order to replace prepaid cards and exhaust all data reserves worldwide.
Token sales period Tokens will be available for sale in Phase 1 and Phase 2 across a maximum of
two months. After that period, the Board of Directors shall decide whether to
distribute the remaining OracleG in a Phase 3 Token sales event or lock the
Tokens in a sealed account for future use.
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OracleG distribution
OracleG will be assigned to users participating in the Token sales as follows:
Phase 1 token sales 150,000,000
Phase 2 token sales 200,000,000
Phase 3 token sales 400,000,000
(determined based on market response)
Maximum Token sales 750,000,000 (75% of total OracleG supply)
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8. Resume
More than 500 million companies around the world are limited by technical
constraints with regards to their rights to execute transactions in
cryptocurrencies. The lack of technical solutions to address such issues means
that the end users are not given the opportunity to select which currency they
wish to choose when paying for various goods and services.
The market depends on the involvement of multiple brokers in banks and
trading centers. Eventually, the participation of these brokers leads to a decline
in consumer capacity and a slowdown in economic growth.Technical solutions
fail to complement current legal frameworks and lack consumer protection do
not give the digital economy a chance to develop at the forefront of block
chains, ciphers, dApps, etc.
Once the OracleG Token and platform is established, consumers and businesses
can take advantage of all the benefits of cryptocurrencies in carrying out their
businesses and transactions. With built-in Tokens and smart contracts, users can
buy, sell, and exchange anywhere in the world with a single click, with no
restrictions. In other words, OracleG will make the cryptocurrency market part
of the real economy.
With OracleG, businesses can quickly enter the marketplace and provide goods
and services to customers around the world, thereby increasing their value.
Furthermore, users will be able to reduce time spent on business operations,
financial management, and shopping costs. This will create new standards for
what is expected to be a multi-billion dollar market economy.
OracleG will work with the general public to develop platforms and interact
with diverse experts and market participants to introduce the cryptocurrency
economy to the global economy. We will also invite all interested Fintech
pioneers, block-chain developers, and prospects to participate in open
discussions over creating our network.
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9. The OracleG Team
Kenneth Malloy Founder and CEO
Dick Borden Web Developer
Carson Bowser Web Developer
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Ben Naylor Software Developer
Karen Wilson Web Designer
Kaylyn Holm Web Designer
Chris Hong Project Manager
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Technical Adviser
Vitalik Buterin
10. Our Conclusions
Our OracleG team believes that OracleG is essential to the current payment
settlement market. Based on this belief, it will continue to nurture and develop
this project, regardless of the contributions and interests from investors. At the
same time, it will continue to pioneer the market where OracleG can be used for
all transactions.
We created OracleG based on the dream that potential consumers will finally
emerge from behind the shadows and become the driving force of economic
development.