TimeApp.Foundation Update 08/05/2024
TimeApp.Foundation Update 08/05/2024
Currencies, both virtual and FIAT, can be an excellent speculation tool, but they fail to be truly effective as a tool for storing and exchanging value.
As you can see these days an investment in Crypto can be a more than valid method to speculate, but it carries substantial risks of losing the capital invested.
Time Foudation has created a new storage and exchange system that has no value of its own as it is NOT exchangeable, NOT purchasable and NOT salable.
Time was chosen as the unit of measurement, the only real wealth possessed by every human being, a form of intrinsic wealth.
To get an indication of the value of an hour, Time Foundation has chosen to estimate the minimum value of an hour of work using the minimum hourly wage in force in many states of the USA, for this reason there is an indicative value in the wallet in US $.
Currently, the average minimum hourly wage can be quantified at $ 10.625
There is also an indication of the value of an hour in euros, Time Foundation has chosen to estimate the minimum value of an hour of work using the minimum hourly wage in force in many states of the EU, for this reason there is an indicative value in the wallet in €.
Currently, the average minimum hourly wage can be quantified at € 12.570
Each person can create an account on timeapp.foundation and will receive 10 hours.
Time Foundation will periodically assign new hours to all registered users based on a time frame that can be varied based on the number of users and other management considerations.
Through the TimeApp.foundation wallet each registered user will be able to view their wallet and the operations carried out.
The only possible action is to send "time" in the form of hours and fractions of an hour, to another registered user.
This operation takes place via Steem Keychain, therefore, in order to use timeapp.foundation you need to be a Steemit user and have Steem Keychain installed.
Each operation consists of a transfer of 0.010 Steem to the time.foundation account; the memo specifies a control code, the user to whom "time" is to be sent, the amount of hours and fractions of an hour to be sent.
The transaction fees are used to finance the management and development of the application.
Each operation on the Steem blockchain is combined with what is recorded in the TimeApp.Foundation archives and a control transfer is then written on the Steem blockchain, in this way all the operations carried out can be reconstructed from the Steem blockchain.
Your time, present in your wallet on TimeApp.Foundation, CANNOT be bought, CANNOT be sold and CANNOT be exchanged for other currencies.
It will periodically increase automatically as time passes.
Initially, one hour will be assigned to each registered user on the first day of each month.
May 2024 distribution is done, all users that have registered till now have 1 more hour in their wallet.
Obviously, those who register first will have a greater number of hours allocated, so, don't exitate!
If you want to register you can do it here
If you want more information you can find it here
If you need a 'How It Works Video' you can see it here
Support TimeApp Foundation Development Proposal #1 by voting for this proposal
You can also help us by reblogging this proposal.
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