Octavian Oncescu
@octavonce

Donate to the development of the Purple Protocol

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Statement

Introduction

The funds collected in the campaign will be used in continuing the development of the Purple Protocol .

Imagine a world where you can send or trade any kind of asset with anyone in the world, instantly. A world where anyone in the world can receive funds to jumpstart a project, even if they are in Africa. A world where  central banks do not control the issuance of currency. A world that is fairer for everyone.

What is Purple?

The Purple Protocol is an experimental blockchain protocol that is still under development. Its aim is to provide a digital payment solution that has a speed comparable to the payment processor VISA but in a completely decentralized setting, meaning that no one controls the network or can alter its transaction history. 

Ok, this sounds nice. Is it all it can do?

No. Besides being a payment processor, the Purple Protocol also supports advanced ledger scripting capabilities via smart contracts . These are software programs that run on the blockchain itself. This means that once a smart contract is uploaded to the blockchain, it cannot ever be altered by anyone, including its creator. 

A better explanation would be the following: Think of the blockchain as a kind of public computer that no one owns or controls. Smart contracts are the software that runs on this public computer. Anyone can also see the source code of all uploaded smart contracts. 

In a nutshell, smart contracts are very suited to be used as the building block for digital public infrastructure. They are the software equivalent of the aqueduct.

Ok, smart contracts sound fancy. But what can you effectively do with them?

Decentralized asset exchanges, voting systems that are immune to fraud, news source tracking, quality control that can be performed directly by consumers i.e. supply chain tracking, fast formal qualifications verification, identity systems, etc. 

What is your story so far?

In the beginning the idea was to develop the protocol up until it becomes testable on a network and then organize an ICO in order to get the funding necessary to further develop the protocol.

However, after several months in which regulatory pressure kept increasing, this became less and less of an option. As the project neared the intended goal of network testability, the pressures of hosting an ICO became too great.

Now we find ourselves in a situation where we have a great solution to the problems of today’s blockchain systems, but we do not have the capital necessary to bring it to completion.

Decentralized asset exchanges, voting systems that are immune to fraud, news source tracking, quality control that can be performed directly by consumers i.e. supply chain tracking, fast formal qualifications verification, identity systems, etc.

The development of Purple up until this point has been done without any kind of funding whatsoever. This has been because of the experimental nature of the project combined with the seemingly darker market conditions.

Why we need help

By helping us you will be helping the whole world. If you are the kind of person that wants to change the world but is otherwise unable to do so, this is the time to take action. Help us change the world for the better! 

We plan to use the funds for at least the following things: - Establishing a legal entity. - Pay the salaries for enough developers to significantly speed up the development of the protocol. - Buying infrastructure for testing the protocol code i.e. servers. - Create the design and the user experience of the wallet. - Develop the wallet. - Attend to and host events.

These things will help jumpstart the project and hopefully bring it closer to the anticipated launch. The sooner we receive funds, the sooner the launch will be.

Thank you

By supporting Purple now, you will mean the world to us since it will enable us to bring the project to fruition.

We thank anyone who chooses to support as at this point! Instead if you are kind, please share this post further so that other people might see it.

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History

octavonce joined 4 months ago.

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