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META1 White Paper
META 1 is a Private Digital Currency Backed by Gold Surety Bonds.
META 1 Coin presently holds a profound asset portfolio in gold and Surety Bond(s) of equal value. These assets are assigned as the financial backing of META 1 Coin. As Coins are purchased, funds are continually reinvested in additional assets assigned to the coin increasing coin value. META 1 Coin Trust will continue acquiring assets increasing values tremendously under this model. Therefore, META 1 Coin will expand in value providing a great opportunity for all participants.
ABOUT META 1 COIN
META 1 Coin is an asset-backed “Smart” Private Digital Currency secured by Humanity’s greatest expressions of life. META 1 Coin is a coin for Humanity, built on the framework of abundance. This currency is designed to track the value of the META 1 asset portfolio using Smart Contracts. Smart Contracts are unbreachable contracts on the blockchain and are designed to ensure appreciation, never devaluation. META 1 Coin has a Private Bank and Private Exchange allowing unencumbered transactions as well as superior liquidity and security. META 1 Coin has a Private Powered blockchain resulting in high-performance global transactions called the “METATRONIC NETWORK”. META 1 Coin has added asset assignment functionality to the META blockchain, allowing monetization of assets such as gold reserves.
OPPORTUNITY STATEMENT AND VISION
The global economic system has changed tremendously over the past hundred years. Paper currency gradually replaced gold, and from 1971 it was the US dollar which was used as their place for gold. The US used the fact that gold is present in a limited amount in the world, and paper money is more accessible to carry and to transfer. The issue with these fiat currencies is that they are centralized and regulated by governments. The value of these currencies is based only on the faith of the people upon the promise of their governments. There is no commodity of intrinsic value at the back of these fiat currencies, not now at least. The arrival of internet banking has reduced the usage of paper money, and now digital currency is used instead of paper which means now states do not even need to print money. Economists, especially from the Austrian school of thought, consider fiat money a socially and economically destructive scheme. There is a need to present an innovative monetary system which is backed by a scalable commodity with intrinsic value. META 1 Coin Trust has the vision to offer a more stable, democratic, decentralized and scalable solution. META 1 Coin Trust is presenting assets as the commodity to back the money in the form of META 1, a Smart, Witnessed and Collateralized coin.
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SAFE & SECURE
META 1 Coin is on the most secure protocols. Your investment in META 1 Coins is safe.
META INVESTMENT BANK is an array of Sovereign Bank charters operating from diverse jurisdictions to transact in cryptocurrencies unencumbered. META INVESTMENT BANK can receive fiat currencies to include the United States Dollar unthrottled for the exchange of cryptocurrencies. META INVESTMENT BANK is the bridge between the legacy banking system and the evolutionary blockchain banking system of the future.
INVESTING IN META 1 COIN
META 1 COIN is still available in the private sale. META 1 COIN is backed by gold assets and is an amazing opportunity. META 1 uses a Smart Coin platform in combination with the utilization of gold bonds to secure current values while providing an inalienable roadmap of future value and performance. META 1 Coin provides participants with high-profit returns and the liquidity of gold. The combination of liquidity with a massive increase in valuations is the best appreciative perspective by design of META 1 Coin.
META Exchange is a decentralized trading platform ensuring liquidity for Coin holders. Behind META Exchange are gateways to other blockchains. These gateways enable access to an array of other digital assets including all top cryptocurrencies by market capitalization. Additional gateways continue to be developed to other blockchains.
CRYPTO-TECHNOLOGY AND ITS IMPORTANCE
Several technologies have stunned the world over the last two decades. These technologies include the World Wide Web, cloud computing, smartphones, and social media. However, there is one technology which has the potential to disrupt the global economic system, and this technology is crypto technology. This technology is still new, and most people don’t have much knowledge about it. The potential of this technology can be realized by the fact that the world’s most popular cryptocurrency, Bitcoin, is based on this technology. This technology gave birth to dozens of cryptocurrencies over the last few years. The best thing about these currencies is that most of them are decentralized; therefore, these currencies received the attention of big investors.
The market capitalization of these currencies reached new heights in 2017. The market capitalization of these currencies was more than $440 billion during the last week of December 2017. This value is still increasing daily, and it is expected to break all records in 2018. The value of these currencies increased dramatically during the last year, and the following figure depicts the top 10 cryptocurrencies as per their performance in 2017. The 36,000% increase in the value of any commodity seems impossible, but Ripple increased by 36,018% in 2017 which made it by far the best investment option of 2017.
META 1 has taken crypto to the next level by not just transforming from a fiat US Dollar to a fiat cryptocurrency, but to a Smart Coin with collateral, and a Market Witness incorporating external market feeds. META 1 is the next generation of Collateralized, Smart crypto.
BOOM IN ICO MARKET
The popularity of crypto technology gave rise to another fantastic business opportunity called Initial Coin offering, (ICO) which is the counterpart of Initial Public Offering, (IPO) in the digital world. Many startups are using this tool to raise a decent amount of funds for their businesses. It is also providing an excellent opportunity for investors because tokens of certain startups rose quite high in a brief period. The potential of this tool, in conjunction with the peoples’ trust in it, is reflected by the fact that more than $3.7 billion was raised through ICO’s. Some companies raised extremely high revenue last year, and the following chart reflects the list of the top 10 companies regarding revenue generated through ICO’s.
The META CARD is the most secure DEBIT card that is available to META Exchange, META BANK account holders.
The META CARD is a typical DEBIT card that is available to META Exchange and META INVESTMENT BANK account holders. Account holders can exchange cryptocurrencies to US Dollars and or EUROs in real time to make non-crypto purchases.
Account holders have a secured application for their smartphones that provide this functionality to ensure “real life” use of funds in a dynamic fiat, crypto multi-currency economy.Account holders can exchange cryptocurrencies to US Dollars and or EUROs in real time to make purchases. Account holders have a secured application for their smartphones that provide this functionality to ensure “real life” use of funds in a dynamic fiat, crypto multi-currency economy.
META SOURCE CODE
META 1 Coin Trust is the publisher of all required systems and wholly owns all source code for the complete Private Digital Currency ecosystem to include the wallet, coin, exchange and point of sales utilities. In-house resources have developed all software. Strategically controlling all system aspects at the most granular level “Source Code” allows META 1 Coin Trust to continue the innovation and proper administration of the blockchain, exchange, and all future system requirements ensuring scalability, adaptability and most importantly Sovereignty. META 1 Coin Trust has guaranteed success due to not having any dependencies on any third parties and will persist in continual performance in a very dynamic environment.
META 1 will use smart contracts for transaction validation. A team of Blockchain engineers is working to develop a smart contract which works quickly and efficiently. Currently, there are also some issues with the Blockchain technology. For instance, the time to verify a transaction can be very high for a long Blockchain. This time can increase further if thousands of transactions happen in one second. It is important to note that a large number of devices with Blockchain (nodes) validate the transaction, but it also consumes significant time. Blockchain of Bitcoin needs validation from 51% of nodes to verify the transaction. This approach for transaction verification is also referred to as Proof of Work (POW). Delegated proof of stake mitigates the potential negative impacts of centralization through the use of witnesses (formally called delegates). A total of 18 witnesses signs the blocks and are voted on by those using the network with every transaction that gets made. By using a decentralized voting process, DPOS is by design more democratic than comparable systems. Rather than eliminating the need for trust, DPOS has safeguards in place that ensure that those trusted with signing blocks on behalf of the network are doing so correctly and without bias. Additionally, each block signed must have verification that the block before it was signed by a trusted node. DPOS eliminates the need to wait until a certain number of untrusted nodes have verified a transaction before it can be confirmed.
This reduced need for confirmation produces an increase in the speed of transaction times. By intentionally placing trust with the most trustworthy of potential block signers, as decided by the network, no artificial encumbrance need to be imposed to slow down the block signing process. DPOS allows for many more transactions to be included in a block than either proof of work or proof of stake systems. DPOS technology enables cryptocurrency technology to transact at a level where it can compete with the centralized clearing houses like Visa and Mastercard. Such clearinghouses administer the most popular forms of electronic payment systems in the world.
In a delegated proof of stake system centralization still occurs, but it is controlled. Unlike other methods of securing cryptocurrency networks, every client in a DPOS system can decide who is trusted rather than trust concentrating in the hands of those with the most resources. DPOS allows the network to reap some of the significant advantages of centralization, while still maintaining some calculated measure of decentralization. This system is enforced by a fair election process where anyone could potentially become a delegated representative of the majority of users. Transaction confirmation time will be carefully addressed in “Satoshi-based” blockchain network of META 1, and the Trust will use DPOS for better performance.
Blockchain can’t store huge amount of data, as large data can reduce speed considerably, therefore an outside the network transaction will be required for quick execution of the transaction. “Satoshi-based” blockchain Virtual Machine (EVM) can help to build such an outside network. The working of these smart contracts with Oracle (outside network) is explained beautifully in IEEE Spectrum as shown in the diagram below. In this example, the user sends a request for plane insurance due to the delay of flight. The request searches the previous data of the flight in Oracle (outside the blockchain) and determines the amount of premium. In the next step, the status of the flight is checked. If the flight is late, then the smart contract verifies the transaction of value equaling the premium amount in the account of the user. If the flight is on time, then a smart contract lets the system have the funds. The old Blockchain is stored outside the main chain, and all nodes can only check new nodes for verification. This mechanism can increase the speed of the transaction.