Categories: EducationFAQ

What Is Time New Bank Cryptocurrency?

Even though one would assume a project by the name of Time New Bank has something to do with a new computer font, that is not the case. Instead, this is a brand-new cryptocurrency and blockchain project which focuses on developing an accurate time-value-based transmission network.

The Concept of Time New Bank

It is quite interesting to take note of a precision time-value transmission platform using blockchain technology. The goal of this particular venture is to create a network of three-tiered markets for time-commodity exchange. Building such a standardized system from the ground up will not be easy by any means, yet it will open up some interesting opportunities.

The Technology Under the Hood

While this concept sounds pretty confusing to novice blockchain enthusiasts, how it works is actually pretty simple. Time New Bank wants to build a standardized system to fully express the value of time commodities by leveraging a decentralized value transmission platform. The ultimate goal is to use TNB as the settlement currency to tell both current and future values of time commodities on the market.

As one would expect, such a network cannot operate without a steady “supply” of time exporters, mature time asset operators, and investors. At the same time, there needs to be a genuine demand for these time commodities as well. With blockchain technology, Time New Bank aims to deliver the value needed to make all of this happen. Bringing additional trust to this particular industry will not be easy whatsoever, but the team is confident they can make this happen in the future.

Related Post

The ecosystem itself will have a few different aspects. First of all, there is the underlying blockchain ledger, combined with a time commodity exposition platform, a time commodity issuance platform, the exchange, and a time asset exchange. On top of all that, we will also see support for DApps, enterprise service middleware, APIs, SDKs, and more.

The TNB Currency Explained

The Time New Bank ecosystem would not be complete without its own currency. In this case, TNB aims to become the standard settlement currency for both current and future time commodities. The big question is whether or not the project can succeed in achieving this goal moving forward, as it is ambitious. TNB is also the go-to instrument for transaction and settlement, yet monetizing it will prove challenging.

The Road Ahead for Time New Bank

For the time being, the main focus lies on building up the massive ecosystem which the Time New Bank team has envisioned. It is evident there is still a lot of work to be done, which also means there is no strict timeline for development. Right now, the project is still in the R&D phase, with a demo version to be tested during the next few months. Later this year or in early 2019, the first version of this platform should come to market.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Best Altcoins to Invest in Today: Qubetics Sets the Stage for Blockchain’s Future as Bitcoin Hits $108K and Litecoin Soars

The cryptocurrency world has always been a hotbed of innovation, attracting both seasoned investors and…

2 hours ago

Dogecoin Millionaire Predicts This Undervalued Altcoin Could Match DOGE’s 2021 Gains

Dogecoin's 2021 rally was a historic one, turning ordinary investors into overnight millionaires. This magnificent…

3 hours ago

Qubetics Presale Skyrockets to $7.5M as XRP and Arbitrum Lead Best Altcoins for Exponential Returns

The crypto market is always evolving, with big names like Bitcoin and Ethereum leading the…

3 hours ago

Over 300K Users Actively Mine Crypto On BlockDAG’s X1 Miner App While BNB Bulls Eye $3K; What’s XRP’s Price Target?

The crypto market is ablaze with excitement as altcoins like XRP and BNB make major…

4 hours ago

Best Crypto Presale To Buy Now: Rollblock Delivers For Holders With New License, Record Sign Ups and 7000+ Games

Rollblock is quickly becoming the best crypto presale to buy, delivering unmatched value for its…

7 hours ago

Polkadot And Uniswap Gearing For Post-Christmas Jump As Rollblock Raises $7.4 Million in Presale

While Rollblock's continues its crypto presale, with its value increasing regularly, Polkadot (DOT) and Uniswap…

8 hours ago