Quark Hashrate Bank Landing Point

Hashrate Banks strive to construct self-financing application ecosystems with a credit structure at its core, using community networks and data to support developers in constructing all types of self-financing apps through a safe decentralized computing technology. Hashrate banks will fully become a self- regulating ecosystem, widely used in all sorts of financial systems. 

1.  Savings Interest

NBP is Nebula Plan’s base token. Any user with NBP can directly earn long-term interests given by hashrate banks. Users can deposit their NBP into their personal hashrate bank account, and the hashrate bank would professionally manage it and regularly give out interest to users. At the same time, users who deposit NBP in hashrate banks would be recognized as account holders and can be certified to purchase actual hashrates. Users could also regularly check on the hashrates that correspond to their NBP, and the projected profits from NBP within a fixed time period. The bank would use NBP as interest currency, and deposit them directly into users’ accounts.

Users can make use of the earned NBP to purchase all types of valued digital assets (such as Bitcoin, ETH) and NBP financial management products (such as supply-chain financial products), or to continue to earn interests with their NBP tokens.

2.  Applications in Global Commercial Transactions

An effective payment system must be put in place for hashrate banks to operate properly. A distributed “banking” system could be achieved through blockchain distribution technology. Anybody could save, distribute, or exchange related assets in a distributed banking system. Hashrate banks distribute NBP and use it as its base currency. The bank also uses NBP digital currency system as its base layer mechanism, to push out services on the application layer, such as encrypted NBP wallet, other online digital currency leasing products and services. This allows users to deposit digital assets

securely, transact, make payments, or to purchase hashrates. It also provides mainstream PoW digital currencies (such as Bitcoin and ETH) with certification. With blockchain technology at its base layer, NBP allows PoP consensus mechanism to become a decentralized credit system, with applications in decentralized cross-chain technology, smart contract, encryption technology and digital currency technology.

3.  Transfer and Transact

Through the Quark hashrate platform, NBP token owners can perform transactions involving Bitcoin, Ethereum and other mainstream currencies with ease. When hashrate banks supports the exchange of NBP and fiat currency, hashrate bank will first open up such services to hashrate bank personal accounts. In addition, if users deposit a certain amount of NBP in hashrate bank and use NBP to perform top-up or exchange transactions, they would stand to enjoy a discount in admin and service fees.

4.  Credit Mortgage

Credit mortgage is an important application scenario for hashrate banks. It is mainly used in scenarios where mines require credit borrowing and futures contract. Users that possess mining hashrate resources can hedge against risks for the hashrate bank. With verification from the hashrate bank to certify the mine ’ s credibility, users who have their own hashrate resources can submit a fixed amount of digital currency as a security bond to the smart contract, and draw up a futures contract to receive NBP for functions such as trading, investment, or encashment. If the security deposit amount is insufficient in withstanding NBP price fluctuations, the smart contract would be able to automatically repossess released NBP to eliminate market risks.

5.  Asset Reinvestment

Hashrate banks currently use NBP as base currency. Users who possess NBP can use their tokens to conduct a series of digital currency related financial transactions online.

Users can deposit and save their NBP in the “bank” to earn base interest, and can purchase “ hashrate bank ” financial management products to make higher profits with a correspondingly greater risk. Hashrate bank will increase the types of digital currency products and services. In its early stages, the hashrate bank would open up basic real- time mainstream currency transaction channels. With a greater variety of users, the hashrate bank will further open up to allow users to self-issue tokens and then consign them to the bank platform to perform more complex and more digital currency related financial functions.

6.  Other Financial Activities

With NBP as its foundation, the hashrate bank has built a universally accessible and easy-to-use financial platform through smart contracts. Hashrate bank users can use NBP to complete asset mortgage lending, create betting contracts, register and declare digital assets, issue new digital currency investment portfolio products and so on.

Hashrate bank will also achieve traditional functions such as stock market, bond market, futures market, trading platform, savings bank etc, in the field of digital currency.

7.   Use case: Financialization of Hashrate through Decentralised Blockchain Banking 

This partnership agreement is to establish the guidelines for collaboration between the both parties in functions and services of Hashrate Banks. JPMorgan Chase Bank, N.A. is looking forward to integrating and setting up applications in global commercial transactions, such as transfer and transact, credit mortgage, asset reinvestment and other financial activities. In their respective countries, each party will be acting as an exclusive representative of the other party in respective country (countries) of operation.

JPMorgan Chase Bank, N.A. will be at the same time sharing US stablecoin licensing with Quarkhash Alliance.

About QuarkHash Alliance

The Alliance was founded in 2016 by two large scale mining facility operators in the Middle East. The Alliance had set up a comprehensive set of governance which aimed that connecting users and mining facility. This results in cheaper and fairer environment for users to participate in the crypto mining market, and thereby promotes a sustainable growth of the industry.

The mining facility will first provide the necessary infrastructure and subsequently provide a reliable source of hashing power. The Alliance will help balance the relationship between different agents within the market and move away from the usual centralised mining facilitate operations. Through contracts executed and transacted in a decentralised manner, this will help create a fair hashing power trading market.

Elina is New York based writer and media consultant. Currently she is involved as an advisor in several ICOs. In addition to her professional interests, she loves jazz, modern art, coffee, and yoga.

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