Talking about innovative technologies is never easy: perhaps because there are purely technical aspects, or perhaps because there is often distrust of what is unknown.
Blockchain technology is disruptive, there is no doubt. But it is also complicated and remains a mystery to many.
Certainly it is not for Xriba, a project born in 2018, which uses blockchain technology to simplify operations related to a very delicate issue: that of accounting.
After the development phase of artificial intelligence to automate accounting registration – which led to the birth of the XribaBooks platform – today the project is preparing to design new products and, through the Association, to promote its objectives.
What is the Association and what is its purpose?
One of the objectives that cannot be separated from any blockchain project is to create a decentralized governance control system that ensures the active participation of users, token holders and the main actors of a blockchain ecosystem.
The Xriba Association is a non-profit organization that deals with the management of XRA tokens, and carries out coordination and organization activities for Xriba projects involving all the players in the Xriba ecosystem: developers, stakeholders and token holders.
To this end, the association will equip itself with a DAO system that will allow its members to vote and make decisions regarding token development and management objectives.
A DAO (Decentralized Autonomous Organization) system, refers to a revolutionary way of managing organizations, making use of smart contracts and blockchain technology to provide them with transparency, immutability, autonomy and security.
DAOs aim to find practical solutions to have decentralized governance.
The Xriba DAO will allow all XRA token holders, including those who are not members of the association, to propose and vote on changes to the token economy, blockchain development roadmaps, and to propose new features of Xriba services.
To vote, it will be enough to stake your XRA tokens on the appropriate DAO smart contract.
The Xriba association directs the development of the project based on four main values:
Simple and easy
The goal of the organization is to establish an ecosystem in which it is easy to interact and whose services are easy to use, in order to allow the greatest number of users to participate in the activities of the Xriba community and to benefit from its services.
Transparency is everything
Transparency and sharing are two words that come to mind when thinking about the blockchain. The association makes Xriba’s blockchain business transparent, as well as providing regular news and updates on Xriba projects, the XRA token, and new collaborations and initiatives being conducted by its founding members.
Interoperability is the key
There are a multitude of blockchains available today, each with their own ecosystem, potential and users. It is not possible to be limited to being present on a single blockchain, the Xriba Association wants to make the ecosystem as interoperable as possible, so that it can reach the largest number of projects and users, in order to involve them in achieving its goals.
Token holders are in charge
The Blockchain is built on the principle of decentralization. Aware of this, the Association aims to increase the involvement of the Xribers community in the governance of blockchain innovations and the future Xriba sidechain, through the DAO system and its communication activities.
To become a member, there are a number of prerequisites, including XRA staking.
The members of the association are divided into three distinct groups based on the amount of tokens staked: Founder Members, Ambassadors and Supporters.
The Founder Members are all the companies that have signed the articles of association of the association and are directly involved in the development of Xriba software. Ambassadors are organizations and companies that have staking a predetermined amount of XRA. While all other XRA holders who have staked XRA are considered Supporters.
Founder Members and Ambassadors will have the power to promote changes within the Xriba ecosystem in terms of development and token policy, while Supporters will only be able to express their consent or dissent. The weight of the vote will be proportional to the amount of XRA deposited in staking on the DAO.
These are just some of the good reasons to stock up on XRA.
A new policy on the XRA token
The XRA token was launched on the Ethereum Blockchain using the ERC20 standard. A maximum of 275,000,000 XRAs has been established as the total token supply.
The token performs various functions within the Xriba ecosystem:
Allows holders to vote in the Xriba association’s DAO system, placing their tokens in the appropriate smart voting contracts;
It will feed Xriba Sidechain: the notarization fees of the blockchain accounting data will be paid in XRA and the validator nodes will be available for purchase by Xriba token holders.
With the birth of the Xriba Association, a new token economy for XRA also arrives: starting from January 1, 2022, based on the volumes of Xriba software licenses sold, the Founder Members of the association will purchase and burn XRA. The so-called “burning” will be created.
In the case of Xriba dAPP, 15% of the total price will be burned, and in the case of XribaBooks, 15% of the part of the license that covers the development of the AI will be burned.
According to a first estimate, around 18 million XRAs will be burned in three years.
The forecast is segmented by product and based on a growth in the XRA / USD exchange rate and the number of licenses sold per year.
XRA’s new token economy will go into effect on January 1, 2022. All tokens that would have been burned had this new economy been in place from the start, will be burned by December 31, 2021.
The white paper is constantly updated.
Xriba, after having developed the XribaBooks accounting software, and having created a bridge that allows the transition from the Ethereum blockchain to BSC through the conversion from XRA to BXRA, while preparing to launch a new software for the accounting of crypto transactions, has led to end a further objective: that of creating an Association to make democratic decisions that revolve around one’s destiny.
Is this perhaps the future of companies? Is it pioneering or gambling?
One thing is certain: the Xriba team has never stood still since the company’s inception, bringing to light several products and optimal results.