Minggu, 16 Juni 2019

INVECH

Cryptocurrency Exchange

About Invech

INVECH Group is a partnership put together by an extensive group of businesses and experts from Malaysia, Hong Kong, China, Indonesia and Timor Leste.
We have expertise from raw material mining, logistics, industrial development, renewable energy development, tourism, healthcare, banking and finance, oil and gas, real estate, education and information technology.
Coming together, we realized that the blockchain technology is the future. We envision the blockchain technology with its decentralization is going to be a disruptive force across industries. Governments and businesses have largely functioned via centralization. Someone or some organization sits in the middle, making the rules, and taking a toll (either taxes or fees) for providing a function. We can now leverage on this technology, take out the middleman, and enable highly functional decentralized entities.
Hence, the birth of Invech Group.
Today, we are a blockchain solutions entity that allows traditional businesses to transition to the blockchain. Allowing speed, reduction of wastage, globalization and decentralization.Together with experts from different industries, we want to turn the nation of Timor Leste to become the world’s firstfully functioning blockchain city.
While focusing more on human capital development, social capital development, and the non-oil economy with the blockchain, the duration needed to develop Timor Leste can be cut short significantly compared to a what a normal nation needs to develop.
We believe investing in human capital is essential for boosting productivity, pivotal for economic growth, and vital for democracy. Timor Leste’s most valuable asset is not oil, coffee, or sandalwood, but its people, a potentially unlimited development resource. Investment in human capital is the most genuine and decisive public investment, because the expected returns are quite high and typically materialize over the long period of time. Such investment has underpinned the rise of the Asian tiger economies of the late 20th and 21st centuries.

Invech Cryptocurrency Exchange

Invech Cryptocurrency Exchange is a government endorsed and licensed cryptocurrency exchange. The Exchange will be the foundation of the Blockchain Smart City, spearheaded by Invech Group.
Invech Cryptocurrency exchanges allows users to be able to reach a global platform; better, faster and cheaper transactions, creating jobs, opportunities and etc. Furthermore, a portion of profits from all transactions done at the exchange will be paid to Timor Leste via taxes.
We have our own platform tokens called Invech Coins or IV that is built on the ERC20 platform. As mentioned above, Timor Leste is currently running on a fiscal policy without their own monetary policy. In other words, they do not print their own currency. They are using the US$ since year 2000. Causing inflation and price instability in an already poor country. As such, Invech hopes that Timor Leste will implement Invech Coins (IV) as an auxiliary currency in Timor Leste besides the USD / IDR and Centavo.
As a token of gratitude and good will for increased), to the country of Timor Leste. The 10% of tokens will be channeled to Timor Leste via the Timor Leste – Invech Foundation. Thus allowing them to kick-start the use of cryptocurrency within the nation, alongside the current Fiat currency / legal tender system. The usage of Invech Coin (IV) will be extensive. Ranging from common trading of goods and services, to paying wages and taxes, and even remittance and ecommerce. Below is a table for imaginable usage of cryptocurrency at national level.
With the Invech Coin (IV) in use, we are able to track, influence, manage and easily procure big data which will be of imperative use in the future after the big data analytics and statistics.
Furthermore, we will implement a Loan Management System under the exchange exclusively for Small Medium Enterprises (SMEs) of Timor Leste. This new entity (Loan Management System) will run concurrently with the exchange to fund raise for the SMEs.

Government Blockchain Services

Our goal in 2019 is to create a separate and secure blockchain under Invech where the Invech Cryptocurrency Exchange will migrate over and at the same time, cater to the government of Timor Leste under Invech’s Government Blockchain Services along with the use of cloud computing, decentralized applications and artificial intelligence.
With the adoption of Government Blockchain Services, the government is able to:
  1. Unify all government agencies.
  2. Gain easy access for administrators and citizens alike.
  3. Increase efficiency and productivity.
  4. Add depth to the accountability and transparency of the management of public sector resources.
  5. Improve financial management through complete view of government assets and liabilities.
  6. Empower ministries and agencies to be financially accountable for their respective revenues and expenditures.
At the same time, we are able to introduce an economic model which is inclusive, high income and sustainable.
Invech’s Government Blockchain Services solution will assist the government in managing the government’s budget deficit as well. Addressing these 4 target measures are recommended.
01 COORDINATE
The blockchain will support both cash basis and accrual basis accounting. Including transitional requirements
02 CENTRALIZED
The government blockchain created is a centralized environment, which would enhance data integrity and enabling online, real-time reporting by the Ministries
03 UNIFIED
There would be a single system, which leverages on current government functionalities to improve work processes and produce a lower Total Cost of Ownership
04 UPGRADE
The current government system will be upgraded to the blockchain. Allowing improved functionalities
The application that will be built will incorporate improvements over the legacy system with validations and intelligent screen response to better control the usage by all authorized administrators from the government. The Government Blockchain Services will cover the following scopes: –
In the Government Blockchain Services, there will be blockchain administrative offices across Timor Leste’s 12 districts and 1 Special Administrative Region. Where everything will be integrated, unified, online and can be remotely accessed and controlled anywhere within Timor Leste. To further gain a detailed remote command, we can also set up satellite offices at the administrative posts of Timor Leste which are subdivided into 442 sucos (“villages”) and 2,336 aldeias (“communities”). The main control base would be situated in Dili.
Figure 4 Timor Leste’s 12 districts and 1 Special Administrative Region (Oecusse)
Figure 5 Government Blockchain Services by Invech

‍SOLUTION

Our solution for Government Blockchain Services contains multiple solutions (Refer Figure 5). After the transition of legacy Government systems, we will target 5 key main areas in order to obtain a comprehensive data. 2 of the key areas, Human Resources & Material Management, would also be replicated and used separately for our Invech Consultancy & Invech Global Blockchain Entity.
Figure 6
While monitoring the whole system on the blockchain will be easy and inclusive. Going through a data center is accessible only by authorized personnel (Refer Figure 6).

SECURITY

Building a centralized blockchain for a nation will need a world class security measure. Thus we will be meeting the ISO 27001 security standard. ISO 27001 (formally known as ISO/IEC 27001:2005) is a specification for an information security management system (ISMS). An ISMS is a framework of policies and procedures that includes all legal, physical and technical controls involved in an organization’s information risk management processes. A systematic approach to managing sensitive company information so that it remains secure. It includes people, processes and IT systems by applyinG a risk management process. It can help small, medium and large businesses in any sector keep information assets secure. The ISO 27001 standard will be met across the whole Invech development landscape, including Invech Cryptocurrency Exchange.
KYC or Know Your Client will also be implemented wherever needed. The Know Your Client form is a standard form in the investment industry that ensures investment advisors know detailed information about their clients’ risk tolerance, investment knowledge and financial position. KYC forms protect both clients and company. Clients are protected by having their company know what investments best suit their personal situations. Companies are protected by knowing what they can and cannot include in their client’s portfolio.

‍Roadmap

2017
May
Idea and Core Team Formation
October
CIDA Holdings Limited (HK) Invests
November
BBM Blockchain Indonesia Invests
2018
February
1st Meeting with Timor Leste Government
March
SMID (CN) as Advisor
June
Acquired Cryptocurrency Exchange License from Timor Leste Government.
MOU Signing with BBM Blockchain Timor – MWII (CN), Nasdaq Listed Company to Invest US$ 20,000,000 at Pre-Sales.
July
Roadshow Commencement
October
Signed MoU with MAPEM (Malaysia Economic Development Council)
Publicity Campaign in Hong Kong
2019
April
Commence Hotels and Casino Development
May
Invech Consultancy
Invech Initial Exchange Offering (IEO)
Full Official Launch with Fully Operational Exchange Platform
June
Invech Loan Management System for Timor Leste
Invech Payment Gateway
August
Crypto ATM
Cockpitsonic Collaboration
September
Government Blockchain Services
Dec
Launch Invech Public Chain
2021
Sign up Belt & Road Initiative
2022
Fully Tokenize Timor Leste
Author: Foto lama
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