Qubitica is a distributed enterprise, or a community of AI and blockchain experts and enthusiasts who are both developing and investing in a wide plethora of products “of the future”.
The name Qubitica comes from their own token QBIT. It both represents the participation in the project and serves as a utility token. Holders of the token prerequisite the allocation of projects.
Once there was a group of talented developers who’ve asked themselves a question, “what would happen if it was the employees of the company who owned the business?”
And there was no answer.
Obviously, there are one-man businesses or startups who have the CTO and CEO as the only employees, but on a grander scale of things a democratic distributed company is unprecedented. Or should we say that in past tense, because we have Qubitica now?
You see, blockchain has made it possible for such a concept to see life as it can serve as the company’s backbone enforcing transparency and trustless compliance.
According to Qubitica’s whitepaper, every member of their community contributes his personal achievements to the community. These achievements are then distributed between every member. So, in simpler words, we are talking about a mining pool-like concept but designed to run a business and reward everyone fairly for their work.
Qubitica is currently experimenting with the concept of a distributed democratic company, but they’ve already established their goal – development of smart contract mechanism designed to support new infrastructures similar to their own.
We can’t help but notice that, at least on paper, a model like that should work astonishingly well thanks to the flexibility of what is basically a large cluster of one-man companies united under one banner.
That said, we still have doubts about a community being able to get somewhere (think strategic goals) without a permanent leader with a single vision.
QBIT is an ERC-20 token that serves as both a currency and a membership token. In simpler words, developers working for (or with) Qubitica are being paid in QBIT tokens. This works like mining, but instead of hardware, developers use their skills to gain coins.
Investors who are willing to hold to the token are free to purchase it from both the developers and the holder.
Qubitica is not planning to hold any ICO events to gain capital. The value of their coin is only gained through trading. The company is also willing to regularly buy the tokens back to create demand.
One more thing that’s important to notice that Qubitica chose the Ethereum network because of its established smart contract mechanisms. They do not hold any Ethereum nor does it directly affect the price of QBIT. Additionally, the company has stated that new tokens might be developed if they will serve a purpose in new projects.
