Financial Services

TimeTicket GmbH has concluded a basic agreement with BitForex, a major exchange in Asia

TimeTicket GmbH, a wholly-owned Swiss subsidiary of TimeTicket Inc., has concluded a basic agreement with BitForex regarding an IEO.

TimeTicket GmbH, a wholly-owned Swiss subsidiary of TimeTicket Inc., has concluded a basic agreement with BitForex regarding an Initial Exchange Offering (fund-raising with crypto tokens administered by an exchange) called Turbo (Premier Token Offering Launchpad).

TimeTicket Inc. is a subsidiary of Global Way, Inc., which is listed on the Tokyo Stock Exchange.

TimeCoin (TMCN) which is a cryptocurrency will be issued by TimeTicket GmbH and will function as a means of payment in the project “TimeCoinProtocol”. The project aims to build a decentralized sharing economy service platform on the EOS blockchain.

In 2019, the token was assessed (classification / category) by FINMA (the Swiss Financial Market Supervisory Authority) and we have been preparing for Turbo.

Problems in the oligopolistic sharing economy market

The sharing economy is an economic model in which people share, exchange and benefit from underutilized assets such as goods, space, services, time, etc.

A typical example is a service to mediate lending of underutilized assets held by individuals (including intangible assets such as skills).

The lender can earn a profit from underutilized assets while the borrower can use those assets without owning them.

In today’s sharing economy market, some companies (including Uber, Airbnb, Getaround, WeWork, Fiverr, Upwork) are dominating the market with centralized control and earning extravagant profits by collecting high transaction fees from users.

Solutions for democratizing the sharing economy market

A centralized sharing economy service cannot establish an ecosystem in which users can efficiently share and benefit from underutilized assets.

The wealth created by the sharing economy must be fairly allocated to users, service providers, community contributors, and the wider society.

In order to achieve this, we are planning to build a decentralized sharing economy service platform “TimeCoinProtocol”.

TimeCoinProtocol, which runs on the EOS blockchain, is a platform where third parties can develop and operate decentralized applications (dApps), allowing users to trade skills, financial assets, goods, space, transportation services, etc.

By utilizing blockchain technology, we aim to enable users, contributors and dApp providers participating in the TimeCoinProtocol community to run the protocol autonomously while receiving TimeCoin token rewards.

By offering TimeCoinProtocol, we aim to provide the following value prepositions:

• Users can trade with low fees.

•  Users can utilize cross-service data such as past transaction activities and reviews.

• Users can receive token rewards according to their transaction activities and credit scores.

• Service providers can offer services to users with low development/operation costs.

• Community contributors can receive token rewards.

Development plan of decentralized applications using TimeCoinProtocol

TimeTicket GmbH is planning to develop a sharing economy service that is equivalent to the existing TimeTicket’s model with dApps by utilizing TimeCoinProtocol.

We are planning to expand our services/dApps globally, mainly in China and Asia.

We also envision in the future that the existing model of TimeTicket and TimeCoinProtocol will work seamlessly together so that the user transaction activities and reviews can be shared across dApps.  We aim to make the TimeCoin token available as a means of payment in Japan after permission is granted by the Japanese authorities.

In addition, we are planning to release our first dApp “eSports Dojo”, a service to support the development of eSports professional players.

With eSports Dojo, you can not only play against professional eSports players around the world, but also get advice on your game from your opponents. You can also challenge professional players even if you are not a professional.

BitForex exchange

https://www.bitforex.com/

BitForex is Asia’s leading global crypto exchange with the world’s sixth largest trading volume. It has operation teams in Germany, Estonia, Hong Kong, Malaysia, the Philippines, etc. with users in more than 86 countries.

TimeCoinProtocol related information

TimeCoinProtocol Telegram Channel in English:

https://t.me/TimeCoinProtocol

TimeCoinProtocol Telegram Channel in Japanese:

https://t.me/TimeCoinProtocol_JP

TimeCoinProtocol Project Website:

http://timecoinprotocol.com/

Global Way, Inc.

https://www.globalway.co.jp/

TimeTicket, Inc.

My front page

https://timeticket.co.jp/embed/#?secret=Sqd5KvySYp

Related previous press releases

2019.09.25 TimeTicket GmbH’s Blockchain Project Kicks into Gear for IEO(English)

2019.09.25 TimeTicket GmbH’s Blockchain Project Kicks into Gear for IEO(English)

https://www.globalway.co.jp/news/2019-09-25-news_1/embed/#?secret=8z44NwiS1N

2019.09.25 Acquired All the Shares of TimeTicket GmbH and made TimeTicket a Subsidiary (English)

2019.09.25 Acquired All the Shares of TimeTicket GmbH and made TimeTicket a Subsidiary(English)

https://www.globalway.co.jp/news/2019-09-25-acquired-all-the-shares-of-timeticket-gmbh-and-made-timeticket-a-subsidiary/embed/#?secret=dM6aCtrrIL

Inquiry on this matter, please contact:
IR Representative
Email: gw-pr@globalway.co.jp

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