Editorial Note: The following content does not reflect the views or opinions of BeInCrypto. It is provided for informational purposes only and should not be interpreted as financial advice. Please conduct your own research before making any investment decisions.
Since 2017, when the crypto market began to show its first global growth, thousands of crypto projects have been launched around the world, more than 90% of which have not survived to the present time.
All these projects, without exception, had one similarity – the main option they offered their users was speculation in the coins or tokens offered for purchase – “buy for a dollar, sell for two.”
The choice of this option is obvious – most users around the world want to get rich here and now! None of the top projects at the current time offers the most important thing – stability and predictability for 3-5 years. Arllecta team will try to launch the world’s first digital business sense-to-sense network based on economic principles. its main settlement and payment asset is based on hours – the spent life time of its users.
Egger Mielberg, Founder & CEO at Arllecta, mathematician, bioengineer, software developer.
How is it possible to manage and lead software development alone in your global startup-company Arllecta?
When you love your job and most importantly understand what needs to be done, then the colossal load that falls on your shoulders every day is not a big burden, since you perceive new tasks as a challenge, first, to yourself as an entrepreneur with great ambitions.
Second, no less important in achieving daily progress in such a complex task as developing several complex software applications in the field of AI is the presence of a personal background in the relevant field. So, for example, I started working as a math and IT teacher at a European state university. Then I started programming and after a couple of years I had my own project in the IT field.
Software development management is like managing a medical laboratory, where you, as the head of this laboratory, know exactly and have sufficient competence to formulate tasks and describe how to implement them in practice.
Undoubtedly, to implement all the above, one thing is necessary – daily painstaking work studying new material in different areas.
Why did you, having been doing complex mathematics in the field of AI for many years, decide to come to the crypto industry?
First, the crypto industry is based on basic technologies directly related to mathematics, or more precisely, to some of its sections. Thus, many current protocols in the crypto industry use cryptographic hash functions for various types of tasks, including crypto transactions and crypto wallets.
Second, one of the main articles in the crypto industry, namely the article on Bitcoin, describes a digital crypto currency that solves one of the problems in the monetary system such as double spending.
At the same time, the current global financial system is extremely weak and ill-conceived due to several social factors.
Third, the idea of decentralization of the entire global business process inspires me against the backdrop of the fact that the big giants in the IT industry have long crossed the line of what is permitted in terms of managing user data on the Internet. In addition, they have become a big barrier to new, high-tech, and highly competent startups that offer innovative approaches to solving problems in many areas of business.
Do you believe that it is possible to completely replace the current global financial system with crypto industry technologies and realize the highest level of security and safety of the assets of Internet users?
In 2018, I published my first article about digital banking. The uniqueness of this article lies in several aspects. The first aspect is that we have proposed an approach to implementing a decentralized digital bank with such important economic characteristics as providing the opportunity for its clients to earn money. That is, it is not the bank that collects money from clients and makes money on it, but the clients, using the digital infrastructure of this decentralized digital bank, earn money.
The second aspect is the capital structure of the digital bank. Namely, in the ability of clients of a given bank to form the digital capital of the bank through their active participation. Participation, in this context, consists of spending one’s own time, hours, with each client of a given bank. The main asset of a digital bank is the hours spent by its clients on fulfilling their obligations.
The third aspect of a decentralized digital bank is that it does not go bankrupt. In comparison to the traditional bank, digital banks cannot be bankrupted or liquidated at all. The capital as well as digital bank itself belong to participants of digital network. In other words, digital banks are the private property of participants. Digital banking appears at the same time when a bank service demand appears on digital network.
What crypto projects or crypto currencies do you think have a future?
Only and only those projects that implement real economic instruments. Here I exclude a speculative instrument as a parasitic surrogate that, apart from profiting from the difference in the value of the transaction object over time, does not carry any economic value for the development of a healthy digital economy.
It is important to understand here that when we talk about a decentralized economic digital network, all its participants, without exception, should be able to earn money, regardless of the presence of large initial capital. Also, it should be remembered that any activity of network participants in executing, say, sense contracts in a network such as SenseChain must be paid.
That is, the main asset in the economic activity of any business should be time, or rather the hours, the life hours spent by its participants. This is the only asset in any person’s life that is not renewable. What could be more valuable in the life of any person on our planet than the time of life and how we spend it! It is this asset that is limited in nature.
It is especially worth noting that the quality of any project largely depends on the type of protocol that the project uses. For example, the Proof of Stake Protocol is a direct implementation of a corrupt approach in the traditional financial system, where a group of unknown people enforce the legality of work within the network in which this protocol is implemented.
The protocol used must provide, first, equality in the maintenance and development of the network in which it is implemented. Since it is the users of this network who form its economic liquidity.
What is SenseChain technology? And what is its main difference from blockchain technology?
SenseChain is a sense-to-sense algorithm based sense network. We described SenseChain technology in our article called: Senschain: Sense Contracts, Sense Currency. Our SenseChain technology is based on two fundamental proprietary technologies – the Proof of Participation Protocol and mathematical theory algorithms for AI, Sense Theory.
The main but not the final four characteristics of SenseChain:
A new digital economic model implemented based on sense business contracts.
A sense-to-sense paradigm
A new financial digital model based on a digital coin secured by the time spent by network participants.
Native coin (SC) – equivalent to job hours (JH). Stability of the native coin rate (minimum job rate): 1SC = 1JH = $10
The uniqueness of each issued coin.
The above characteristics solve many problems of the current traditional financial system. Among which:
100% anti-money laundering protection.
100% influence only from SenseChain network participants.
100% guaranteed earnings for all active participants of the SenseChain network.
For example, the SenseChain network has implemented a full-fledged system of economic and financial funds, which includes operating, reserve, and investment funds. Each fund is responsible for its own economic activities. The issue of a native coin is strictly regulated by the economic status of the network and does not allow it to depreciate using several tools.
The main and fundamental difference between SenseChain and any other crypto projects based on blockchain technology is the implementation of its own paradigm of the main asset in the form of user hours spent and the realized economy.
Also, it should be especially noted that SenseChain is not a pure crypto project, it is primarily an IT business project with partial implementation of crypto characteristic of the crypto industry. Finally, SenseChain uses its own main network with own native coin – SenseCoin (SC).
Why did you start the longevity project?
As a research engineer who has always loved the most difficult unsolved problems of humanity, the task of creating the elixir of youth in my opinion is one of the most difficult tasks in the entire history of mankind.
Because just imagine that the number of possible biochemical reactions in the human body in one second is in the millions. Yes, yes, not in tens, not in hundreds, or even in thousands, but in millions. Almost every single molecule in the human body has its own homologues, that is, substances that are similar in structure but different in composition and, accordingly, in functionality.
The task of building rockets to launch to Mars or even further seems very simple compared to the task of understanding and, most importantly, predicting, say, for the next month, a chain of biochemical reactions consisting of billions of heterogeneous and sometimes mutually exclusive reactions inside the human body.
Moreover, such a task really appeals to me because solving it requires knowledge from different, not always related, sciences. This is a real challenge for the most inquisitive and patient minds of our humanity. I just want to check if I belong to this cohort of people.
Is it possible to implement medical projects in the crypto industry?
Absolutely! The current medical business industry has similar problems that the IT industry has. And first, this is due to large companies in this market. However, in the medical sector things are even worse and more complex. First, pharmaceutical giants lobby for their activities at the legislative level.
Second, entering the medical market is like going to the moon. Not everyone has it, right? Third, most medications in the world now do not fight the true causes of diseases, they only suppress the symptoms of these diseases that do not go away. It’s just that the brain of a person with a certain disease does not transmit pain, much less heal the organ that is affected.
The implementation of medical projects in the crypto industry lies in the implementation of new approaches to interaction between people, their needs and no one else.
In other words, the creation of a drug can be carried out through the parallel interaction of tens or even hundreds of different research groups around the world where each result of such research cannot be hidden or erased from the blockchain database for the benefit of a single large pharmaceutical company.
Another advantage of implementing medical projects in the crypto industry is that a remote group of researchers can be located on the other side of the world in relation to their investor. That is, the large visa barrier can be lifted immediately.
An equally important advantage of implementing medical projects in the crypto industry is the obvious benefit of using crypto currency for mutual settlements. Thus, the time from planning on project financing to the first transaction and the start of work on the project can take no more than a few hours.