Bit World (BIW) Coin - based on the Ethereum blockchain technology | Hybrid Exchange!
Community-based autonomous economy is the Future
With the explosive market development of the cryptocurrency industry, digital asset exchanges have evolved to be one of the most important and developed parts of the blockchain industry, meeting the increasing market demand for trading and playing the significant role of connecting the primary and secondary markets for all the market participants from those involved in project financing and venture capital to institutional and retail investors, and ultimately facilitating the capital formation mechanism in the cryptocurrency ecosystem. The economic model of blockchain technology is built upon digital tokens and the consensus mechanism- digital tokens unlock the economic value and activate the internal ecosystem of the blockchain; while the distributed consensus mechanism ensures the efficiency of the operating platforms. The incentive system based off interest and profits is the core driver to the development of blockchain projects in the cryptocurrency economy.
The blockchain technology has emerged as the core system and tools in support of autonomous management. After Satashi Nakmoto established a set of general rules in his 2008 white paper “Bitcoin: A Peer-to-Peer Electronic Cash System”, the entire blockchain community has been operating through a decentralized approach, further gradually evolving into a distributed autonomous system. Similar to the traditional market economic system, the distribution of products is dependent upon the quantity and the output of labour; whereas the right of usage, ownership and right to operate together with investors, shareholders, employees, and customers are fully integrated in the blockchain eco-community. As a result, all the participants would share in the benefits of community development and support better mobilisation of resources, in order to create a virtuous cycle of profitability. The recent development and expansion of the blockchain ecosystem has ushered in a new era of the distributed autonomous economy over the traditional economical forms of capitalism and socialism.
The BitWorld team perceives that blockchain technology is improving the efficiency of
organisational collaboration through the usage of a community-based intrinsic value
With this vision in sight, the BitWorld team intends to launch BitWorld, an
innovative next-generation digital asset exchange, in the mission to create a
new type of community-based economy. The BitWorld team hopes that through
building upon a series of open and fair market rules, BitWorld would be able to
bmoaorskte tt,h es ulpiqpuoirdt ittyh eo bf loovckercahlal in structural optimisation and promote equitable resource
allocation. Leveraging on blockchain technology, BitWorld aims to establish an
autonomous platform, and build out a new type of economic autonomy program that
would fundamentally reduce organisational attrition and increase productivity.
Innovative Digital Asset Trading Platform Based on Community-based
Based on the combined Proof of Work (PoW) and Proof of Stake (PoS), BitWorld
completely relies on the endorsement of all its participants to build out the consensus
community with the key features of distributed autonomy within its blockchain
ecosystem. The key features of the autonomous system of BitWorld are summarised below:
Supernodes - Users voluntarily and independently participate in the delivery of tasks
such as transaction mining, project voting, participation in the construction of the mining
pool, and joint ecosystem building.
Collaborative - Users collaborate with each other to achieve value-add and common
objectives. The users can set up the mining pool by themselves and work together on the
building and ecological maintenance of the mining pool.
Co-operative – Users would be able to obtain economic incentives in exchange for their
work: BitWorld would return 50% of user remuneration in accordance with the Proof of
Work (PoW) and Proof of Stake (PoS) mechanisms. Users who participate in the
management and building of the mining pool would receive greater remuneration.
Autonomous - Autonomous agents, intelligent programs, and the future enhancement
of artificial intelligence (AI) and AI algorithms would enable BitWorld to run its
strategic operations on the self-sustainable basis, eventually building out a
ctroumstmedu nity-based autonomous economy with a set of open and fair rules.
Through the network structure, product logic and ecosystem consensus design,
BitWorld intends to utilise the economic model and token incentive mechanism built
the Laws of Economics and drive the momentum of autonomous economic development,
hence incentivising the ecosystem participants
BitWorld Technical Features and Support Model
Openness and Transparency
As the core requirements of a blockchain ecosystem are based off the open
and transparent business rules, BitWorld is launching a high-performance trading
platform that can support real-time settlement and consistent 24-hour trading operations
twraitnhs pcaormenpcleyt eo f all the transaction records upon request.
Institutional-quality trading architecture with advanced in-memory matching algorithms,
asynchronous non-blocking read and write, distributed real-time messaging framework
and other advanced technologies to achieve high reliability, high performance, security,
scalability, and easy maintenance.
Friendly trading environment with strengthened support for FIX protocol and API. With
an initial target of estimated processing speed at 200k transactions per second, the API
interface supports professional transaction types such as high-frequency, GTT, GTC,
FOK, and ICO and provides trading support for quant funds.
The security management system is built in cooperation with a top-tier security firm.
Furthermore, industry experts conduct the review of code and overall architecture design
before the system goes live. Multi-level firewalls will be set up to monitor system data
processing in real time. In the area of digital asset security, multi-signature requirements
and combined hot and cold wallet solutions are implemented to provide security for the
digital assets of customers.
The platform of BitWorld would initially support the crypto-to-crypto and crypto-to-CFD
spot trading model. The future releases would seek to support margin trading, other
advanced order types and account balance management services. When the platform
liquidity reaches a certain level, an anonymous transaction function similar to ShapeShift
would be introduced.
In the early stage of the trading platform setup (Beta testing stage), BitWorld will support
the following currency tokens:
• BIW (BitWorld’ s native token)
Other high-quality tokens would be gradually introduced to the platform of BitWorld. If
you desire to have your token listed and traded on BitWorld trading platform, please
participate in the BitWorld ICM for a better opportunity.
The platform currently does not support fiat currency, such as: USD, RMB, JPY, KRW,
The initial release version of the platform of BitWorld will support both English and
Chinese. Later releases will gradually support other languages such as Japan and South
Korea, etc. Multi-lingual support is critical to building a blockchain digital asset trading
Full-Platform Customer Support
Full-platform client support would include
• Web browser
• Android client, IOS client
• HTML5 Mobile, PC client
• Windows / OS /Linux full node client
What is Bit World Coin?
BitWorld (BIW) Coin is a token, based on the Ethereum blockchain
technology. It is the core asset of the new Bit World Exchange.
The native digital cryptographically-secured utility token of BitWorld (BIW) is a major
component of the ecosystem on BitWorld, and is designed to be used solely as the
ptorkimena ryo n the platform. BIW will initially be issued by the Distributor as ERC-20
standard compliant digital tokens on the Ethereum blockchain.
BIW is a non-refundable functional utility token which will be used as the unit of
exchange between participants on BitWorld. The goal of introducing BIW is to provide a
convenient and secure mode of payment and settlement between participants who interact
within the ecosystem on BitWorld. BIW does not in any way represent any shareholding,
participation, right, title, or interest in the Foundation, the Distributor its affiliates, or any
other company, enterprise or undertaking, nor will BIW entitle token holders to any
promise of fees, dividends, revenue, profits or investment returns, and are not intended to
constitute securities in Singapore or any relevant jurisdiction. BIW may only be
utilised on BitWorld, and ownership of BIW carries no rights, express or implied, other
than the right to use BIW as a means to enable usage of and interaction within BitWorld.
BIW would also function as the economic incentive to incentivise users to participate
in the BitWorld ecosystem. Users of BitWorld and/or holders of BIW which did not
actively participate will not receive any BIW incentives.
The Distributor which issues and sells BIW shall be an affiliate of the Foundation. The
limit of 10 billion BIW is strictly imposed without any further increase.
The users can obtain BIW through the "Trading Mining" model and are eligible to
receive BIW incentives based on the trade volume of their user account. BIW can
also be purchased on the exchange under the pairs of BIW/BTC, BIW/ETH.
BIW Allocation Plan
• 20% of total issuance is set aside for distribution to project (9% - team and
platform, 3% - Advisors, 8% - Developers)
• 30% would be released and distributed to incentivise users daily to participate in
transaction mining, total BIW in circulation = daily mining production of
BIW / 30.
• 50% To the community in ICO (all unsold tokens return to our reward and
Pre-distribution Token Unlocking Mechanism:
• Unlocking Mechanism: The number of tokens distributed as part of
pre-distribution (30% of total issuance) would be unlocked daily according to the
ratio of 30:50 where 30 refers to the day’s mining production output
• Unlocking Priority: The 10% in the private sales portion (Pre-release) would be
first prioritised for preferential unlocking. The rest of the pre-distribution tokens
will afterwards be subject to the Unlocking Mechanism as described above on the
In particular, you understand and accept that BIW:
(a) is non-refundable and cannot be exchanged for cash (or its equivalent value in any
other virtual currency) or any payment obligation by the Foundation, the Distributor
or any affiliate until launching platform;
(b) does not represent or confer on the token holder any right of any form with respect to
the Foundation, the Distributor (or any of its affiliates), or its revenues or assets,
including without limitation any right to receive future dividends, revenue, shares,
ownership right or stake, share or security, any voting, distribution, redemption,
liquidation, proprietary (including all forms of intellectual property or licence rights),
or other financial or legal rights or equivalent rights, or intellectual property rights or
any other form of participation in or relating to BitWorld, the Foundation, the
Distributor and/or their service providers;
(c) is not intended to represent any rights under a contract for differences or under any
other contract the purpose or pretended purpose of which is to secure a profit or avoid
(d) is not intended to be a representation of money (including electronic money), security,
commodity, bond, debt instrument or any other kind of financial instrument or
(e) is not a loan to the Foundation, the Distributor or any of its affiliates, is not intended
to represent a debt owed by the Foundation, the Distributor or any of its affiliates, and
there is no expectation of profit; and
(f) does not provide the token holder with any ownership or other interest in the
Foundation, the Distributor or any of its affiliates.
The contributions in the token sale will be held by the Distributor (or its affiliate) after
the token sale, and contributors will have no economic or legal right over or beneficial
interest in these contributions or the assets of that entity after the token sale.
BIW Holder Rights and Ecosystem
BIW will be used as the unit of exchange for all services and operations offered on BitWorld.
For example, BitWorld will charge a fee in BIW for withdrawals of virtual currencies, as
well as for listing fees. Users of BitWorld may pay BIW for all transaction fees, calculated
based on a percentage of the transacted amount. The usage of BIW to pay transaction fees
(instead of other tokens) would entitle that user to a preferential transaction fee (the system
will automatically convert and deduct the amount of BIW to be paid for transaction fees).
Trading and Mining Mechanism
The user would be able to participate in "mining" on BitWorld through using the platform for
trading – an amount of BIW tokens worth 100% of the quantum of that user's accrued
transaction fees would be issued to that user, as reward for trading on the BitWorld platform.
For example, if the user generates a transaction fee of 1 million today and the market price of
BIW is 1 yuan, the BIW mined today would be valued at 1 million, and the user is
eligible for 1 million BIW.
Distribution of Platform Transaction Fee Revenue for Data
Data on the cryptocurrency market is very important for a platform such as BitWorld. In order
to incentivise users to contribute current data / information on various tokens and coins, up to
80% of the platform transaction fee revenue will be distributed as incentives to encourage
sharing of information. BitWorld will incentivise community members with BIW incentives
for providing high quality information, news and/or research relating to development of
blockchain technologies and DApps. Users which did not share any information would not be
entitled to these incentives.
For example, if the platform transaction fee revenue is 100BTC and 500ETH, 80BTC and
400ETH would be available for distribution.
Voting Rights on Listing
All Supernode members which hold BIW are entitled to vote to submit proposals for
listing of tokens on BitWorld.
Operations and Maintenance of Mining Pool Community
BIW can be used as the incentive for the governance of mining pool and the
recognition of the contributions of individual miners.
The introduction of a stabilisation mechanism would be considered as an option in the
efforts to support token liquidity, minimise potential negative impacts from the token
price adjustment process, and other possible price instabilities that might be caused by
order imbalances in the market.
The design approach for the stabilisation mechanism would incorporate multiple
formulas and parameters such as transaction volume, circulation supply, price movement,
Multiple Mining Mechanism
BitWorld offers multiple mining model options based on the different needs of
different customer and/or user groups. The mechanism is designed to provide different
ilenvceenlst iovfis ation to meet the requirements of diversified markets and customer groups.
Through this multiple mining mechanism, BitWorld allocates different levels of
incentives to different client groups in an effort to encourages teamwork and
icnodlliavbidouraatli ounse rasc rfoosrs m aximum productivity.
BIW token holders can consume a certain amount of BIW for additional benefits
such as membership upgrade, access to special features etc. Holders of BIW would be
entitled to join any exclusive networking circle for sharing of community information on
the latest developments in blockchain technologies, gaining access to exclusive privileges
in the ecosystem on BitWorld
BitWorld Launch and Expansion Roadmap
2019.3. Beta version website public launch
2019.5ʼ Initial trading launch
2019.6 Supernodes voting
2019.7 Initiate platform transaction fee distribution through smart contracts
2019.9ʼ Initiate CFD trading
2019.10ʼ Incubator investment, ecosystem buildout
2019.12 Exchange public chain launch