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What is Qubitica?
Qubitica (QBIT) is a network of blockchain and artificial intelligence (AI) experts with the common goal of developing and investing in future tech products. Qubitica can be described as a “democratic, distributed company,” geared towards the promotion of innovations in the field of DAO (Decentralized Autonomous Organization) and other advanced technologies. Unlike classical forms of IT associations, it relies on democratic processes to guide its future development. Its user base is composed of engineers, IT specialists and examiners, all of which interact with one other through channels, guidelines and systems developed via its internal, democratically-driven processes. Among the products offered by Qubitica are blockchain, AI, and marketing services.
History of Qubitica
Qubitica was designed and launched by Daniel Takriti in April 2018. Takriti, a software developer and former director of Infoline Computer Gmbh, describes his project’s team as a “community of blockchain and AI experts developing and investing in products of the future.” Qubitica launched its Mining Project in May on the Hyperledger, Ethereum and 0x platforms. In June, it launched another project based on the idea of “artificially linked intelligence,” otherwise known as ALI, and released a token sale to raise funds for the project that month. By August 2018, the coin was trading on its first major exchange, and surpassed a market cap of $30 million in February 2019. Launched without an ICO, there was a total supply of 10 million tokens created, with 2.8 million currently in circulation.
How Qubitica Works
QBIT is an ERC20 compliant token, native to the Ethereum blockchain. The platform, which is closed-source, uses QBIT as an intermediary token, although services provided by Qubitica members can be paid for using a wide variety of cryptocurrencies and tokens. Qubitica aims to produce benefits from all ventures by offering licenses and administrations which utilize its network, meaning services rendered within it are considered proprietary. All decisions are made by the community in a democratic process, made possible by enforcing governance through smart contracts and recording vote tallies on the blockchain. This allows it to have the necessary transparency and structure typically associated with democratically-determined functions.
As a cryptocurrency-based IT platform, Qubitica has several advantages over more traditional forms of tech associations, as well as other token-based projects. A few of these include:
- Based in democracy. True to the spirit of decentralization, Qubitica is governed by individual holders and not expressly by any third party. This gives every user a vote in the administration of the platform and a participatory role in guiding its future.
- Large community. With a network stemming from over 20 countries and 1,000 software designers, Qubitica’s participants can have access to several IT associations and professionals in order to help further their own projects. In turn, these interconnections can also provide exposure to new investment opportunities and investors.
- Fair distribution. Developers who register with the platform receive QBIT for the successful implementation of projects and thus receive a share in its overall structure. Ergo, QBIT “mining” is accomplished through the power of their programming. QBITs can then be retained or exchanged for ETH or BTC.