Futira Coin is planned in the first six months of 2022

Maret 11, 2022

We plan to issue the Futira Coin within the first six months of 2022. The Futira Coin will be on the Futira Chain, a private and permissioned blockchain that will not be anonymous. To allow for faster implementation of the project of Futira, we are deployed the Futira Token on the Tron network on January 1st, 2022 The public trading of the Futira Token will start on February 25th, 2022.

A Futira token can be exchanged with a coin when the coins are available publicly. The proceeds of the sale of the token and the coin will go to finance building mobile operator networks in poor countries. Sadly, around one third of the population of the world does not have access to mobile communications nor internet. Futira plans with the Inovatian Group of companies to bridge this digital divide through a unique blend of 4G and mesh WiFi intermingled with blockchain to reduce the costs of the infrastructure. The token/coin will be the means of holding credit on the network; this will build demand for the coin. Given that the pool of customers is around three billion, this can be huge.

BLOCKCHAIN HISTORY

Contrary to common belief, the blockchain technology was invented in 1974 to solve the problem of moving data over a public network and ensuring its confidentiality and authenticity. To do this, files were encrypted, time-stemped and hash tagged. Hash tags are like fingerprints of files. A hash is a function where a file, however large, is mapped into a smaller set of data, for example, 256 bytes. Of course, many files can have the same hash-tag. Given the time-stamp, the final receiver of the file will have a good idea of how long the intermediate servers kept the file and if they had a chance to manipulate it. With normal servers, it would take a very long time to find a single file that has the same hash-tag. To find another file that has the same hash-tag that is useful to the intermediate server (like makes the new data beneficial to the intermediate server) is practically impossible. A block is then made of the first file to be hash-tagged. The block contains the file and the hash-tag. This is the genesis block of the chain. The next block formed will have a reference to the genesis block with the genesis block’s hash-tag and the new block’s own hash-tag. This makes a chain of blocks that cannot be altered. The blocks are then saved on the net in a manner that ensures that multiple copies are stored. Blockchains evolved so that they check the blocks saved against each other and in the case of a discrepancy, they go to a vote whereby the block getting the majority of the votes is declared to be the authentic one.

Blocks cannot be modified or deleted. Also, users have their unique encryption keys. A user cannot deny their contribution to a block or a transaction since it will be signed with their key. Block data is backed up many times. All these are great features lead to the statement: BLOCKCHAIN IS THE FOURTH WAVE OF COMPUTING (after servers – desktops – the internet).

Blockchain gained publicity with the introduction of the Bitcoin cryptocurrency in 2009. Again, contrary to common thinking Bitcoin was not the first cryptocurrency. It was preceded with a few unsuccessful cryptocurrencies such as BitGold.

Bitcoin has a number of features: it is anonymous. Anyone can open an account if they have access to the internet. There are no lengthy know your client procedures like banks. This made it popular for illegal activities such as terrorism financing, money laundering, tax evasion and ransom collection. Bitcoin has received a lot of attention recently because of its wasteful mining strategy known as proof of work.

Fraud in the Crypto World

A 2019 report to the EU suggested that 78% of all cryptocurrency offering are fraudulent scams. This is a staggering amount. Out of the remaining 22%, 7% are successful and 3% are promising whilst 7% fail or die, 4% dwindle as seen in the figure to the side. (Group, 2019) However, out of the successful 7% users have seen profits that should they have invested in all currencies equally, they would have still made money.

Finance and Accounting:

Alnamaa Accounting and Bookkeeping LLC, Dubai

Incorporated in Dubai since 2011. ALnamaa has excelled in all financial auditing, review, and consulting.

+971 4 259 5670

Legal:

Heba Ahli Advocates and Legal Consultancy,

+97143358885

Cybersecurity:

Wedge Networks is a cyber security software vendor specializing in Real-time Threat Prevention.

+1-888-276-5356

further information

WEB : https://futiracoin.com/