FIAT, Precious Metals, and Cryptocurrencies
It has become a world where most people cannot fully trust the complex political and economic establishment anymore. Therefore, relying on yourself and the latest technology can be a solution for you. This is why we started to digitize assets such as Gold, Euros, Dollars, and Silver.
Made by The Stars
Precious Metals
Most individuals understand the importance of owning a car, owning a house, having insurance, but have no idea why it’s also wise to purchase precious metals as insurance. Why do they not buy insurance against financial meltdown and/or the disintegration of a FIAT currency? Holding precious metals as an insurance policy isn’t anything new to gold and silver investors, but it seems as if a large percentage of individuals and businesses around the world may have forgotten this critical role. Therefore, Mimble & Wimble Finance commits itself to offer the service of digitalizing such assets on the Mimble & Wimble Chain; allowing anyone to convert their physical precious metals into digital ones or to purchase/swap quickly to precious metal-based assets, making it easy to manage it yourself and to have it protected by decentralization and cryptography. Because if you want to protect yourself against situations like what happened in Venezuela, precious metals should be purchased on an ongoing basis just like most other insurance policies.
PLATINUM
GOLD
SILVER
old-assets
fiat
These are the assets you likely use on a daily basis, to care for yourself, your family and/or your business. Especially in the latter or when "Big Brother" is watching you it can be quite frustrating to make transactions from A to B. By putting these FIAT assets on the blockchain we can give you and/or your business back the comfort in finance you deserve. This because there will be no one interfering with your transactions, and in addition to this it takes only seconds instead of days to make the transaction, unlike with regular banks, especially if you make transactions abroad.
$
DOLLAR
EURO
¥
JPY
INR
¥
CNY
New-Assets
cryptocurrencies
On the 3rd of January 2009, Satoshi Nakamoto kicked-in the blockchain and cryptocurrency era. Ever since Bitcoin has grown into a worldwide phenomenon. Thousands of alterations on Bitcoin, often called “Altcoins” followed in its footsteps. Disappointingly the technology of many prominent cryptocurrencies such as Bitcoin and Ethereum are very slow in processing transactions, their technology just can’t keep up anymore with the latest developed blockchains. Therefore, in order to securely increase the speed of processing these assets, we put these existing cryptocurrencies on the Mimble & Wimble Chain. We do so by creating an autonomous swap mechanism for each of these cryptocurrencies. Thereby, we can establish a financial application that almost instantly process any transaction containing these assets and in a decentralized manner.
  • BTC
    Bitcoin
    Bitcoin (₿) is a cryptocurrency. It is a decentralized digital currency without a central bank or a single administrator, it can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.
  • ETC
    Ethereum
    Ethereum is an open-source, public, blockchain-based distributed computing platform and operating system featuring smart contract functionality. It supports a modified version of Nakamoto’s consensus via transaction-based state transitions.
  • GRIN
    Grin
    The Grin blockchain has no amounts and no addresses. Transactions can be trivially aggregated. To hide where a newly created transaction comes from, it gets relayed privately (a "random walk") among peers before it is publicly announced.
  • BEAM
    Beam
    Beam is a blockchain where all transactions are private. No information about transaction participants is stored in the blockchain. Its prominent “Scriptless Script” technology allows the implementation of a wide variety of transaction types beyond simple transmissions of value; for example, atomic swapping, escrow, and time-locked transactions.
  • LTC
    Litecoin
    Litecoin (LTC or Ł) is a peer-to-peer cryptocurrency and open-source software project released under the MIT/X11 license. Creation and transfer of coins are based on an open-source cryptographic protocol and is not managed by any central authority.
How does it work?
Digital Asset Circulation

1. Lock-up

An MWF Hotspot can either lock-up his or her own physical assets, or that of someone else. This can either be in an MW Vault or in another safe place of choice. In the MW Hotspot section of the MW Account Dashboard, the owner of the assets can determine for how long (s)he likes to lock-up these assets...

An MWF Hotspot can either lock-up his or her own physical assets, or that of someone else. This can either be in an MW Vault or in another safe place of choice. In the MW Hotspot section of the MW Account Dashboard, the owner of the assets can determine for how long (s)he likes to lock-up these assets. To prevent fraud, there can never be brought more assets into digital circulation than the value of what the MWF Hotspot owner and/or asset owner has staked in a smart contract designed for this. To incentivize people to lock-up their assets, each individual or business will be able to claim a portion of the ecosystem profits (the portion size depends on the duration of the lock-up).

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2. Verify

Verifying that someone truly has a certain amount of assets, and keeps these assets locked-up during the chosen period of time, can be quite difficult to manage, especially if we don’t like a centralized entity to interfere...

Verifying that someone truly has a certain amount of assets, and keeps these assets locked-up during the chosen period of time, can be quite difficult to manage, especially if we don’t like a centralized entity to interfere. Therefore, our solution is to distribute these validation tasks containing a video (proof-of-lock-up) to a third party, Effect Force, which is a decentralized entity made by Effect.ai that has a workforce from all over the world. Of course, each worker must qualify to be eligible to do these validation tasks. Validation is required directly after lock-up, before the asset’s digital circulation can be increased on the Mimble & Wimble Chain, upon a successful validation the circulation is increased. A periodic validation is required as well, the duration between validation sessions is based on the number of Reputation Points (RP) the MWF Hotspot owner has. Any disputes will be handled by the Decentralised Autonomous Government (DAG), anyone owning MWC can participate in governing Mimble & Wimble Ecosystem.

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3. Mint

A smart contract linked to the validation process of locked-up assets makes it automatically possible to increase the digital circulation of any asset upon being verified by Effect Force...

A smart contract linked to the validation process of locked-up assets makes it automatically possible to increase the digital circulation of any asset upon being verified by Effect Force. Also, it automatically decreases circulation when assets are said to be unlocked or when a MWF Hotspot fails the (periodic) validation session.

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4. Distribute

Upon completion of minting new digital old-assets on the Mimble & Wimble Chain, these assets are distributed by the smart contract to the corresponding individual or business that...

Upon completion of minting new digital old-assets on the Mimble & Wimble Chain, these assets are distributed by the smart contract to the corresponding individual or business that locked-up his or her assets, either the MWF Hotspot owner or one of its users.

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5. Periodic Verification

Each week, month (5000 RP), quarter (25.000 RP) or year (250.000 RP) an MWF Hotspot is obligated to make a video of the locked-up assets (according to the provided instructions). These videos are verified by Effect Force on authenticity and the amount of locked-up assets. Multiple qualified workers will validate each video. A fee...

Each week, month (5000 RP), quarter (25.000 RP) or year (250.000 RP) an MWF Hotspot is obligated to make a video of the locked-up assets (according to the provided instructions). These videos are verified by Effect Force on authenticity and the amount of locked-up assets. Multiple qualified workers will validate each video. A fee based on the amount of RP and lock-up period is required per lock-up. This fee is used to purchase EFX in order to pay workers on Effect Force.

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