What is Time New Bank (TNB)?
Future of TNB Cryptocurrency and know how to buy TNB

#1 - What is Time New Bank

Time New Bank is one of the younger class of cryptocurrencies with a unique proposition that commoditizes time. It is gaining interest amongst investors because it is the first ever crypto-based marketplace for time demanders & time exporters, a new concept that we’ll discuss down below.

Time New Bank: The Basics

  1. Time New Bank is a settlement token for the transmission of time-value itself on the Miao'A International Timechain (M.I.T) network. The decentralised network is based on Grid blockchain technology, and seeks to commoditise people’s time.
  2. The Time New Bank cryptocurrency is denoted by the symbol TNB. Its total supply is 6 billion TNB.
  3. The Time New Bank ICO was released from 18 November 2018 to 23 November 2017. The mainnet was launched on 30 June 2018.
  4. Time New Bank is a utility token which uses Proof of Work & Proof of Stake consensus engine for the transaction, commoditization of time & the exchange of time asset which is powered by blockchain technology.

Time New Bank Development

  1. The M.I.T Foundation has 4 core developers: Vincent Lim. Andrew Wong, Chris Weilacker & Best Liang. They are seasoned executives with years of experience who work closely with Investment Board & Advisory Team for expanding the M.I.T network.
  2. M.I.T boasts of a robust team that has experience in IPO, investment banking, future trading, etc. with expertise across various operation roles. This balances supply and demand relationship of the products in different phases for a sustainable development of the platform’s ecosystem while ensuring that investors’ interests.
  3. It is backed by large Chinese investors like Aplus Capital, Everest Capital, etc. who work together with the foundation to expedite & evolve the project & the M.I.T community.

 

#2 - Time New Bank Technology

  1. TNB has a detailed network which consists of a primary, secondary and third-party market for the exchange of time as a commodity. It reorganises time exporters’ (the sellers’) commodities via an organized scientific analytical model. These sellers can then sell commodities dependent on time, and can include anyone whose time is valuable - such as celebrities, entrepreneurs, or even lawyers, doctors and physicians.
  2. Time New Bank (TNB) will be used as the currency to settle accurately any transaction by leveraging its decentralized value transmission platform. Time demanders can purchase ‘time’ from sellers who put up their time for sale - such as celebrities, journalists, or more, and transfer it to a secondary market.
  3. The platform records the transactions of the time commodity exchange and time asset exchange markets in the underlying blockchain ledger. This prevents manipulations during the operation process.
  4. The Grid public blockchain technology is used for the application of middleware, with a well-sealed SDI (Software Development Kit) and API (Application Program Interface) which offers business services to third parties through a simple access and convenient transplantation.
  5. This enables cross-industry and cross-border service capacity of the platform. It is also used for consensus mechanism and side-chain isolation packaging functions which makes the blockchain capable of dealing with high concurrent requests.
  6. M.I.T uses a To-C business model which gives the platform high-concurrent computing and large data processing abilities. Its fast proof-of-stake capacity optimizes the systematic design of the blockchain once applications for the multiple business scenarios have exhausted.

Transaction Processes

  1. The M.I.T network is used to sell time through Miao A Apps. Time exporters (those who trade their time-sensitive products or their professional services in the market) to gain more more fans and followers.
  2. Services bought can also be reserved once they have been bought, and sold on the public platform if they are no longer needed on M.I.T platform.
  3. MIT then transforms time to time assets before investing them in the time asset exchange platform. This is called commoditization of time. Time bought can be held by time demanders for appreciation of its value & may be sold again. Simply put, you could buy a celebrities time and hold it, to sell it later if/when it becomes more valuable.
  4. The TNB token can be used for booking appointments for face-to-face interviews with celebrities, professionals for whom their time is the most important asset. Their time is converted into time assets by the M.I.T network.
  5. The more a person’s time is needed by people or the greater their impact on lives around them, higher is their value in terms of TNB. M.I.T then connects time exporters and time users using TNB.
  6. Time New Bank (TNB) will accurately settle these transactions and also show the present and the future value of their commodities. Time demanders can instantly position & purchase the exact time commodity from an exact time exporter.
  7. After the purchase has been made, time demanders have 2 options, viz., they can either choose to materialize the commodity or transfer it to a secondary market.

Features

  1. TNB can be used to monetize time between time demanders & time exporters by digitizing time assets through smart contracts. It makes every individual’s time valuable.
  2. The M.I.T. platform integrates entities with high value of time & those with a large demand for time. TNB is used to for the valuation of time & as a conveying instrument within the platform.
  3. The blockchain is secure since it uses an asymmetric encryption mechanism, distributed data ledger, smart contracts and has tampering resistance.
  4. The Transparency of trading partners is ensured by a data-sensitive multi-signature, which combines public ledgering to ensure transparency for all the trading participants.
  5. M.I.T offers a standardised system to deliver the value of time exporters & lets time demanders easily retrieve this time value, which can be invested on commodities via the third market. This fulfills multiple layers of demand.
  6. Service transaction commissions are levied during the retrieval of TNB tokens. This amount is used by the platform for daily operations and maintenance of M.I.T network and never released back in the system. This will gradually reduce the total supply of TNB coins.
  7. The M.I.T blockchain maintains the accuracy of ownership rights and proceeding transitions because the ownership of commodities and assets is distinguished clearly and definitely. This is done by the underlying blockchain ledger which secures the transaction information on the platform and prevents forged records by human conducts. Thus, it makes the transaction environment is transparent.

 

#3 - How to Buy and Store Time New Bank ?

How to buy Time New Bank / How to buy TNB

Time New Bank is available on multiple exchanges like Binance, Bitfinex, OKex, Bibox, etc. But with the TNB cryptocurrency being available over many exchanges, it can get difficult to get the best price for your transactions. This is where CoinSwitch steps in.

  1. While cryptocurrency exchanges provide you with a platform to buy or sell the Time New Bank cryptocurrency, CoinSwitch, the largest cryptocurrency conversion platform, comes in to help you make the right decision by providing the prices for TNB. This way you can choose the best deal for you!
  2. You can also buy, sell and trade over 300 cryptocurrencies for the TNB crypto. It offers interchangeability and unified experience for all cryptocurrencies with a wide offering from all major exchanges.

Time New Bank Storage

TNB coins can be stored in the following wallets:

- MyEther Wallet

- Ledger Wallet

- Trezor

 

#4 - What is the future of Time New Bank?

Also Read: Complete Analysis of Time New Bank | Live Time New Bank (TNB) Price Charts And Predictions

  1. As of June 2018, its market capitalisation stands at $46 million USD .

  2. With its increasing network & scope for scalability even for the most state-of-art business application requirements, TNB may be ripe for a strong run in the markets. Time New Bank prices rose sharply in January to achieve an all time high of $0.28 in January 2018 as compared to just $0.02 in December 2017.

Many analysts suggest it will eventually grow to $0.31 by 2023 & is being predicted to be a stable long-term investment.

Price History

Date

Open*

High

Low

Close**

Volume

Market Cap

Jul 01, 2018

0.022964

0.027383

0.021180

0.024736

5,032,230

54,233,800

Jun 01, 2018

0.036687

0.037650

0.036154

0.037244

4,200,890

86,643,400

May 01, 2018

0.059542

0.064899

0.053295

0.064457

20,307,700

140,618,000

Apr 01, 2018

0.027465

0.028362

0.024993

0.026997

2,991,660

62,116,200

 

#5 - How is Time New Bank different from other cryptocurrencies?

Time New Bank has multiple standout features making it unique from most other cryptocurrencies.

  1. M.I.T offers decentralization, internationalization, payment flexibility, pricing transparency, and strong protection of rights and proof-of-stake. This combination makes it an effective matching tool for the time suppliers & demanders.
  2. M.I.T has a robust buy-side market to facilitate the transaction of time commodities and TNB.
  3. The network can be used to buy time from prominent people like Warren Buffet, Donald Trump , etc, using TNB.
  4. M.I.T platform can also be used for crowd-funding & lets TNB carry the premium generated self-promotion of time exporters to be delivered to the end users. TNB can also be circulated on third party digital currency exchanges.

 

#6 - Should you invest in Time New Bank / invest in TNB ?

  1. The M.I.T platform has the capacity to capture all levels of time exporters - like celebrities, businessmen, etc. M.I.T will thrive making each individual’s time valuable. At this stage, M.I.T may rapidly push for mass adoption of TNB as their method of transaction.
  2. TNB honestly has wide business applicability, which should boost its demand. TNB price may increase accordingly as activity on the Secondary Market and the Third Market increases.
  3. M.I.T can be used to enlarge the scope of cross-border business & achieve high-efficiency transactions with cost-effective settlements using TNB from third party exchange platforms. This could create synergies and attract more investors which can push for a bull run in the long term.
  4. Its main value proposition is the unique ability to integrate solid offline resources and generate strong traffic traction power. This will further develop the M.I.T network & thus, the multi-layers of businesses which will smoothen TNB buy-side market.
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