After careful investigations, ITMF has identified Nano cryptocurrency's underlying open source technology to fulfill many of the functional requirements for the ITCO network. ITMF will leverage and build on NANO's technology to suit ITMF and ITCO's purposes.
Nano differs from earlier blockchain technologies such as Bitcoin and Ethereum. Rather than having a single continuous blockchain, Nano utilizes a “Block Lattice.” Under this system, every address has its individual blockchain and provides its proof of work for each block that is generated. Another major difference is that Nano uses “Proof of Stake,” rather than the more commonly used “Proof of Work,” as a mechanism for validating blocks.
This manner of implementation means that NANO can overcome many common problems among traditional cryptocurrencies. Transactions of any size can be broadcast instantly without any fees. The total block lattice size is efficient and requires substantially less power to validate, which strengthens the integraity of the system at any scale.
ITMF will hold 50% of the starting total supply of ITCOs in the beginning. The remaining 50% will be sold through private sales and an Initial Coin Offering.
Traditional shares held in the company do not add to the total vote count. The shares will be represented by ITCO held by shareholders. ITMF reserves will not be able to be used for voting.
Due to the public company-style of governance ITMF has elected to adopt, the starting total supply is not the final supply of coins.
ITMF's method of crypto-corporate governace provides for the decentralization of ownership to anyone that holds ITCO, and running the ITCO nodes that keep the network healthy is a completely voluntary service.
ITMF will ensure that the network is kept running in optimal condition regardless of the number of volunteer nodes to ensure fast and reliable transactions across all users and regions.
ITCO Wallet Apps
ITCO wallet apps will be available on all major platforms for desktop and mobile usage.
ITCO Smart Contracts Platform
Crypto-corporate governance gives traditional companies new opportunities to reduce the cost of governance and management while providing a new means of financing strategic expansion and growth with investors. ITMF will also explore a second layer smart contracts platform to provide ITMF with new opportunties to create products and services on its network, such as allowing traditional businesses to seek financing in exchange for equity ownership through the ICO network instead of taking out a business loan.