M.I.T or Miao’s International Timechain was dedicated to introducing a time-value based network for transmission. They appreciate the time value for money for every person. The degree to which a person’s time is valued will depend upon the extent to which he is needed by the others. This means that when a person is more helpful; it is likely that he will be needed more. To express this better and match time demanders with time exporters, the TNB or Time New Bank was introduced. The TNB is also a digital currency that is founded upon the blockchain technology. It aims to set up a time-value transmission system that offer decentralization, transparent pricing, payment flexibility, proof-of-stake and strong rights protection.
The M.I.T seeks to deliver standardized systems which can fully express values of time commodities on the basis of how the time exporters have been recognized. In the process for transmission of commodity values the TNB is going to be adopted as settlement currency. This will show the existing and future values of time commodities. The M.I.T platform is able to connect many asset operators, high-end time exporters and investors and time demanders. It is designed to integrate the industry resources. It can deliver value and establish trust. The M.I.T platform has an underlying blockchain ledger, the M.I.T commodity exposition or entry portal platform, M.I.T commodity issuance or primary market, the commodity exchange or secondary market, the M.I.T time-asset exchange market, enterprise service middle ware, DAPP, APP, and API etc.
When the M.I.T platform has been created it can successfully cater to regular time exports along with high value entrepreneurs. So long as the individual power to serve can be recognized, he can monetize the time. So, this platform will ensure that time is valuable for everyone. This will allow the M.I.T to better serve its users and cooperative partners. It can also promote user habits for using the TNB. The application of this platform will allow TNB to include more consumption scenarios. It can bring in greater numbers of potential partners on this platform. Demands for TNB are expected to grow further. The TNB trade prices will shoot up and this in turn will make the secondary market more active and promote enthusiasm for the third market too.
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