XOVERCOIN_FIRST CENTRAL BANK FOR THE BLOCKCHAIN

XOV is providing the world’s first Central Bank for the blockchain

If there’s something that annoys investors and merchants about the current state of cryptocurrency, its the volatility of the markets. Extreme fluctuations in the value of their investment, provide little reassurance or security in any long term investment position. Bitcoin, despite its successes was never designed to be a stable cryptocurrency, and the altcoins market with all of its volatility relies on Bitcoin as a price benchmark. This situation is set to become worse, as more capital is introduced into the markets. XOV aims to provide solutions to these problems by stabilising cryptocurrency and reducing price volatility.

Providing the world’s first Central Banking infrastructure for the blockchain is no easy task; that’s why XOV has approached their project with
some rigour. XOV is consulting with leading economics and blockchain specialists, including academica to produce a solution that works to stabilise currency markets based on solid research. One of the leading cryptocurrency economics researchers include Demelza Hays.
The project team has just published its Lite Paper detailing the approach and is in the process of assembling its Advisory Board.
As with the traditional banking world, the XOV Bank will hold capital reserves and be involved in currency stabilisation through a mechanism of financial controls (‘the toolbox’). This is technically delivered through a a bank branch network that provide financial services to its customers, that hang o the XOVnet backbone, and via a panel of experts who will operate transparent monetary policy. This hybrid control model brings together the best real and artificial intelligence available.
XOV is promising to provide a range of banking services to its customers with the underpinning support of a stable currency. These include a Private Bank for high net worth customers, and current and savings accounts for anyone wanting to hold their cryptoassets in a secure place with currency value protection.
This has to be one of the most exciting cryptocurrency projects in some time that has the potential to seriously disrupt the markets. No longer will investors have to risk extreme falls in the value of their crypto, and will be able to earn interest on the stabilised crypto they hold with XOV.
XOV currently has a token sale in operation with a 30% bonus. To participate, visit www.xovercoin.com. For more information on the project, please see the XOV Lite Paper.

Key Features
• Price stabilisation and currency value protections
• Private banking facility with long term interest rates
• Current and savings accounts
• Supported by solid economics research

The need for currency stabilisation
in the cryptocurrency ecosystem
The cryptocurrency markets are still in their infancy, with increasing numbers of ICOs every year. This will result in the ecosystem becoming fragmented, to the point that in the future many of these projects will fail as liquidity is moved to those with solid fundamental values, rather than being used as a speculative investment based on price. Because of this investment speculation, currencies fluctuate in what is known as a ‘pump and dump’, sometimes using price manipulation on a co- ordinated scale.
The markets may start to rationalise in the future when projects
merge or are acquired. It is di icult to define the intrinsic value of a cryptocurrency without any underlying asset base, and di icult to pin it against FIAT currencies as these are valued on GDP.
Blockchain solutions can add real value when they have ‘real world’ applications. Obstacles to mass adoption of cryptocurrency in mainstream markets, as an acceptable form of payment for goods and services is its volatility in price. This is a barrier to progression. Price volatility is also a risk to currency holders in retaining value.
When Bitcoin was hard forked in 2010, its value was 7 cents. More recent values place it at between $8,000 and $17,000, with frequent fluctuations. Bitcoin tends to be the fallback position for many investors a er making profits in the altcoin markets, or as a safe
haven for large amounts of cryptocurrency assets because according
to historical performance, it has usually increased in price in the long term. There is no guarantee that this will continue. Because Bitcoin has the largest market capitalisation and is the fallback position for many, it is used as a value benchmark for other currencies.
Bitcoin, whilst enjoying the most market capitalisation, and having the most stability in the markets, is a poor currency to use for constant price stabilisation or for benchmarking. Bitcoin was not designed for this purpose.
The XOV project aims to solve these problems by design, providing a currency network with financial controls that stabilise the currency, and reduce the volatility. Only by achieving this can we begin to convince mainstream merchants to adopt cryptocurrency as a stable form of payment for goods and services, and to have real world value.

Problems that XOV fixes
• Price volatility in cryptocurrency
• Extreme trading conditions
• Loss of confidence in the market
• Links to the real world by creating intrinsic value.

The XOV vision
The XOV project will produce the world’s first cryptocurrency Central Bank for the blockchain by using a range of financial controls that control the circulating supply of currency.
This will provide a stable currency that everyone has the confidence in using, that retains an intrinsic value and provides a platform for global merchants, Governments and other currency networks to connect with. Our project goes further than being a bank.
The need for currency stabilisation is now, but this need is becoming more urgent as the cryptocurrency ecosystem expands.
Project deliverables
The XOV Central Bank concept has been developed and a project team has been assembled. The project team have been consulting with academics, and have received some support for the merits of this concept and its feasibility. Little did we realise that our project was originally undervalued due to its potential as a major market disrupter, due to its groundbreaking nature. Following this we undertook a revaluation of the project and identified the following steps for its progression.
Research and Development
This phase of our project is about working with the world’s finest economics, financial and blockchain consultants, to produce a blueprint for the success of our project. We have a hybrid model utilising economics and technical expertise to deliver our world class product. Once our blueprint is ready, we will undertake protection of our solution so that this can be licensed in the future. This phase has already begun with engagement with consultants and academia.
We have appointed Demelza Hays as part of our research project. Demelza is qualified in Economics and is a Researcher at the Imperial College London Centre for Global Finance and Technology working under the supervision of Dr Michael Hanke and Professor Kirilenko. She is currently researching in the field of cryptocurrency.

Ground-breaking
• The world’s first Central Bank for the blockchain ecosystem
• The potential of this project has been identified as a ‘market disrupter’
• Underpinned by the finest aca- demic research and consultancy to ensure its success
• Ability to connect to merchants on a mass adopting scale
The role of a Central Bank
• An independent authority that conducts monetary policy, and provides financial services includ- ing economic research
• Determines interest rates, and directs money supply to achieve

Project deliverables
Development of our White Paper
This phase of our project is about publishing the results of our research, and providing details of the central banking infrastructure concept in more detail. This document provides the platform for the ongoing development of our solution.
Advisory Board
Once the White Paper is completed, we will appoint a number of experts to an Advisory Board. These will comprise academics and consultants. The Advisory Board will play an integral part in the running of the XOV Central Bank.
To minimise any potential for currency manipulation, the Advisory Board will operate according to clear accountability and operational protocols. These protocols will be developed as part of XOVnet.
Development of XOVnet
The development of our solution comes together with XOVnet. This is the technical aspect of our solution and the backbone of the Central Banking infrastructure that will provide the currency regulation and facilitation of payment transfers and financial products.

Hybrid control model
• •
The fusion of the Advisory Board and XOVnet creates an unparal- leled solution to market Connects economics and block- chain technical knowledge bases together.

Banking services (front-end delivery)
XOV’s primary role as a Central Bank is to regulate the circulation of currency, but the Bank will also o er traditional banking facilities as part of its service, and some of these will be delivered in partnership with other projects.
The provision of our bank accounts will be in the form of a secure XOV wallet application available in Windows, Linux, Mac and Web. We will be o ering a self-serve account application process through the wallet application.
Branch network
XOV will be operating a decentralised branch network that is governed by the XOV Central Bank. These branches will deliver a vital role in the circulation of the XOV currency.

XOV will be o ering a private banking service to high net worth individuals as a place to keep their cryptocurrency assets in safe storage. This will provide a ‘vaulting’ service, an arrangement to pay interest on the currency, value stabilisation, and payment card and credit facility.
Current accounts and savings
XOV will provide a current account to individuals with a savings account for those who wish to earn interest on their XOV currency for instant access. For higher interest rewards, our customers can agree to deposit their currency for a longer period of time with our branch network.
Loans
XOV will provide a loans facility to its customer that is transacted via the wallet application.

Digital banking for the digital

• Secure wallets and transaction security
• Ability to use traditional banking services
• Earn interest on your money with- out loss of crypto-value

The XOVnet backbone
The technical specification of the XOVnet backbone cannot fully be disclosed due to intellectual property rights issues.
Coin supply notes
XOV will be operating as a Central Bank and therefore the coin supply and circulation will operate in a di erent way to conventional cryptocurrency networks. This is a design feature of the backbone.
A high coin supply s required for futureproofing given the scale of the use of XOV currency with merchants and customers, and the high pre-mine will be used to provide the Central Bank with its XOV reserves, required to support the circulating supply.
Masternodes
Tier 2 Masternodes will be operated by the XOV Masternode community, and Tier 1 Masternodes will be operated by the XOV Central Bank. The entry level for Tier 2 Masternodes will be released at the time of release.

Currency Symbol XOV
Currency Name. Xovercoin
Xovercoin Hashing Algorithm
Neoscrypt Tier 2 Masternode interest
Fixed by agreement Tier 1 Masternode Interest
Fixed by agreement Wallet applications
Windows, Mac, Linux, Web, To

Centralised/decentralised hybrid network

• XOV utilises a centralised/decen- tralised network model with XOV owned and community owned assets
• The XOVnet backbone powers the Central Banking system

Digital banking in an uncertain global regulatory environment
The requirement for a Central Bank and its customers to comply with regulatory requirements vary according to where the service
is based and used. This will be an evolutionary feature of the cryptocurrency ecosystem. Regulation is used to protect the interests of customers and investors.
XOV has undertaken to make its account application process fully transparent by requiring our customer to voluntarily apply their data according to their own legal jursidiction. This means that where a customer is legally required to provide information, they will be required to provide it. For those customers who are not legally required to provide information, their account will be anonymous.

Security

XOV Reserves

XOV will hold a large amount of capital reserve at its disposal. This will comprise a mix of hot and cold wallets to ensure security of the XOVnet. The vault will include security features that are developed by leading security engineers. Our security protocol will not be released to the public.

Tier 1 Masternodes (XOVernode network)

The Tier 1 Masternode is controlled by the XOV Bank to ensure that a high level of security is maintained at all tmes. The Masternodes will be hosted on mutliple servers across the globe and be protected against DDOS attacks and have regular o site wallet backups. The XOVernode is also able to vault its collateral to the XOV Central Bank as and when needed.

Wallet
The XOV wallets will be protected with leading security standards that protect our customer. For best protection the customer will be advised to secure their own devices used for wallet interactions.

Security by design

• Multi-tiered security network to protect funds
What is a Masternode?

• Masternode is simply a cryptocur- rency full node or computer wallet that keeps the full copy of the blockchain in real-time
• Some of the special functions that these nodes perform are: increas- ing privacy of transactions, doing instant transactions, participating in governance and voting, and enable budgeting and treasury system in cryptos.

A plan for the future of stable digital banking

Q1 2018

Project commencement
Central Bank concept created and proved in principle Seed Funding Round - Token Sale
Release of Lite Paper.

Q2 2018

Research and Development Release of White Paper
ICO Pre-Sale Round

Q3 2018

Advisory Board appointments Development of XOVnet
ICO Main Sale

Q4 2018/Q1 2019

XOVnet Release:

• Full banking services
• Wallet applications
• Tier 1 and Tier 2 Masternodes

Q2-Q4 2019 - XOVnet 2.0

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#ico #token #airdrop #altcoin #cryptocurrency #crypto #eth #bitcoin #ethereum #giveaway #erc20 #btcusd
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