The Big Future of Small Nations
XENTAVO is a White Label blockchain framework coined to consciously structure purposeful, efficient and sustainable Sovereign digital solutions and cryptocurrencies for Small Countries.
WHITE LABEL SOVEREIGN DIGITAL CURRENCIES FOR SMALL STATES
Small States are ordinarily defined as nations with a population of 1.5 million citizens or less. More than a quarter of all World Bank members are such type of nations. Globally, banking institutions have tightened controls by imposing dramatic limitations boxing in Small States financially.
Impelled by financial meltdowns and regulatory abuses, almost all Small Countries are being shut off from global financing. In simple terms, if a local bank in a Small State doesn’t have millions in assets, very few banks are willing to conduct business with them. The Caribbean region for example, is continually losing correspondent banking in the US. Small Countries have long faced problems easy to understand.
Small Nations struggle to become economies of scale. It is hard to imagine trying to provide public services in the Federated States of Micronesia for instance, where over 600 islands are spread across one million square miles of ocean. The nation’s inadequate economy results in expensive, sub-standard public services.
Trade is very challenging for Small Countries. Take almost all of the Caribbean countries which have to import fuel to generate electricity; reason why electricity is so expensive there. These types of problems have unfortunate mounting consequences for these countries and their people.
Compared to big countries, high fixed costs in the public sector mean elevated spending-to-GDP ratios for Small States. Also, professional resources are significantly limited. Large countries benefit from giant knowledge pools their governments can always tap into to develop reliable solutions. Small Countries do not have a large quantity of educated professionals with niche expertise they can rely on.
With the emergence of digital blockchain solutions and cryptocurrencies, Small Countries are now able establish their own FIAT digital monetary sovereignty. The mechanics and the tools are currently available from XENTAVO.
Today, there are over 1,200 cryptocurrencies. The first one, Bitcoin, was launched in 2009. Although it is very unlikely that Bitcoin, or any other of the existing cryptocurrencies can be adopted as a government controlled monetary currency.
These platforms have opened the door to Distributed Ledger Technology (DLT), which makes it possible for Small Nations to start thinking about Sovereign digital currency solutions. Russia and the City of Dubai recently announced that they are creating state-regulated digital currencies and many others are following suit by trialling these new global monetary instruments.
XENTAVO FIAT CRYPTOCURRENCY BENEFITS FOR SMALL STATES
XENTAVO will design and implement a Sovereign distributed-ledger-technology (DLT) digital platform destined to be controlled by the Central Bank of any particular Small Country. Depending on the specific characteristics and requirements of each government, XENTAVO’s modular digital infrastructure can be easily expanded over time.
Each FIAT digital system includes the creation of a bespoke token (which will not be traded on public cryptocurrency exchanges) with practical and secure features like: deposit, withdrawal, transfer and exchange. The main characteristics of the XENTAVO White Label blockchain framework are simplicity and security.
XENTAVO TARGET MARKETS
WORLD BANK LIST OF 50 SMALL STATES: (More than a quarter of all World Bank members are countries with a population below 1.5 million)
Antigua and Barbuda
Micronesia, Fed. Sts.
Sao Tome and Princi
St. Kitts and Nevis
St. Vincent & The Grenadines
Trinidad & Tobago
XENTAVO VALUE PROPOSITION:
The main objective is to implement a Sovereign digital cash system that enables a Small Country to digitally run the nation’s monetary policy, provide and maintain an efficient and sustainable payments system, and supervise and regulate financial operations.
Sovereign: Controlled directly by the government / Central Bank.
Tradable: Balances are internationally tradable 24 hours a day.
Availability: The system will be available 24 hours a day.
Secure: The platform is built with cryptographic security, protecting balances even in economic meltdowns.
Scalable: Digital frameworks offer great opportunities to scale up access to local and global financial services.
Inclusive: Digitizing reduces both costs and physical barriers expanding financial inclusion initiatives.
Modular: The XENTAVO platform has been designed to implement existing and new fiscal policy and management applications.
THE XENTAVO DIGITAL FRAMEWORK CONSISTS OF FOUR ESSENTIAL LAYERS:
Authorization • only authorized users will be able to use the platform. The extent will be linked to local and international regulations (if required).
Modules • layers in the platform are customized to create and / or trade custom digital assets and currencies. They are software layers built on top of a blockchain. The utility of each module is integrated to all the other components depending on their purpose in the system. This platform layer will also contain a wallet function.
Currency Platform • a layer that enables exchange between currencies.
Blockchain • The main advantages of using a blockchain as a digital platform is its durability, reliability and longevity. For data integrity and distribution, the system will use a cryptocurrency which has no scaling limitations on transactions. Through this technology the infrastructure will transmit and secure data in a tamper-proof environment. The entire end-to-end verifiable audit trail and management of all the information occurs in real time, ensuring full transparency of provenance and meta data. Having a complete data audit trail, with cryptographically ensured integrity, will be vital for the success of all XENTAVO applications adopted by any Small State. Additional modules developed in the future will address specific objectives and goals.
The concept of cryptocurrencies is very new for many Small Countries. The implementation of a XENTAVO digital infrastructure will work together with local authorities, lawyers, tax authorities, accountants, and universities to optimize the use of cryptocurrencies.
XENTAVO BLOCKCHAIN SYSTEM IMPLEMENTATION
The XENTAVO digital solution is easy to integrate into new or existing government-controlled systems of Small States. The XEN infrastructure is configured according to the local banking rules, regulations and requirements. XENTAVO does not try to implement a decentralized unregulated digital currency. The currency solution is decentralized but controlled by the country's Central Bank. The currency will be separate from all other cryptocurrencies, controlled exclusively by the government/central bank and it will not be traded on any exchanges.
XENTAVO OFFERS THESE BENEFITS:
Reduced cost of operation
Reduced risk of fraud
Greater financial inclusion
Exchange to other currencies
New fiscal instruments
XENTAVO FINANCE PLATFORM:
The XENTAVO finance platform will be adapted to the needs of each country. The matrix module of the XENTAVO digital platform includes the creation of the Sovereign digital currency on a blockchain, with national and international Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. The matrix module also offers the possibility to transfer of money between users easily.
The concept of cryptocurrencies is very new for many Small Countries. The implementation of a XENTAVO Sovereign digital infrastructure will work together with local authorities, lawyers, tax authorities, accountants, and universities to optimize the use of cryptocurrencies.
XENTAVO SECURITY GUIDELINES FOR THE DEVELOPMENT OF ITS DIGITAL INFRASTRUCTURE:
Cyberspace, and its underlying infrastructure, is vulnerable to a range of risks, cyber threats, and hazards. Cyber professionals exploit vulnerabilities to steal information and money, and are constantly developing capabilities to disrupt, destroy, or threaten the delivery of essential services. In addition, a variety of traditional crimes are being perpetrated through cyberspace, including banking and financial fraud.
The IT integrity and security of the XENTAVO platform are first priority, which will be under constant vulnerability scrutiny, since the system will be handling currencies that are legal tender.
XENTAVO will only employ IT specialists and developers that have been thoroughly screened. The platform will be created, developed and maintained by organizations that have a proven reliability track record, are already operating in the finance industry, and have many years of experience in the industry.
Item 12017/01 Research on the impact of blockchain technologies and cryptocurrencies on economies of Small Countries
Item 22017/06 Development of technical proof of concept
Item 32017/11 Development of whitepaper
Item 42018/03 Initial coin offerings (ICO) crowd funding
List Item2018/05 XENTAVO 1.0 (finance portal including wallet, exchange, transfer, and token)
List Item2018/06 First roll-out
List Item2018/12 XENTAVO 2.0 (migrate the XEN token to its own chain; FIAT tokens will be migrated to be part of the new XEN digital ledger)
The XENTAVO platform will undergo exhaustive research, development, testing and auditing over the next year, to reach important milestones benefiting the XEN clients, users, developers, and the XEN digital blockchain ecosystem overall. The following process will apply before every module is implemented:
Research and Development • Gathering of all requirements and government regulations important for planning, designing and implementing a scalable, robust, decentralized digital currency.
Test and Audit • The XEN system is only as good as the software is secure. Testing and auditing will be taken very seriously
Implementation and Expansion • XENTAVO will create and release a beta version of every system, including the mobile application, API, and, if applicable, its web application. The rollout will start with only a selected number of known users, like a field test. Once this phase has been successfully completed, XENTAVO will continue adding users to the system.
This ground-breaking XENTAVO framework and its FIAT token can revolutionize the world of Sovereign currencies for Small Nations and their people.
XENTAVO FOUNDING TEAM AND ADVISORS GROUP
• FOUNDER CEO: Business Startups Specialist, Leadership in New Technology Development and Applications.
ROBERTO ALVAREZ VELA
• CFO: Business Development, Corporate Strategy and General Business Management.
• CCO: Corporate Communication Strategy, Marketing and Media Development and Production.
HON. ERWIN CONTRERAS
• Belize Minister of Trade Investment, Private Sector Development and Consumer Protection, Economist at Government of Belize.
• Dominican Republic Ministry of Agriculture, Executive Director INAZUCAR, Executive Director FEDA.
• US House of Representatives Member, US Florida Senate Member, Representative to the General Assembly of the United States. Appointed to the NATO Parliamentary Assembly
• Technical Design of the XENTAVO Platform.
CONNECT WITH XENTAVO
Call us: +1 305 809 7447
THE XEN TOKEN
Security is the most important deliverable of the XENTAVO endeavor. A two-phased approach is needed to guarantee safety for two main reasons:
First, few experienced developers are available to work on a DLT protocol and starting with second-tier developers is not an option when dealing with Sovereign or national currencies.
Second, successful, stable, and widely used DLT digital technologies are already made available, ready to be customized. XENTAVO will start with these proven protocols by building a non-crypto layer on top of such a protocol.
PHASE 1: XEN FEES
The XEN Token is the backbone of the XENTAVO DLT system. All fees will be paid across all client platforms with XEN.
XEN is built on the premise that charges are only incurred when a customer “does something” with his or her money, thus there is no charge for depositing funds. Fees are only incurred for sending and receiving funds.
The following fees will be available to select from:
Monthly Fee / Initial Registration
These can be linked to transaction volume (absolute or percentage) and / or limits.
PHASE 2: XEN DLT PROTOCOL
Once the first phase has been successfully implemented, XENTAVO will expand the platform to become the protocol of the Sovereign digital solution. Most likely, this stage will be done through forking one of the existing DLT protocols.
XENTAVO will release 385,000,000 XEN Tokens for sale to the public during both the pre-token and the main token sales. The regular selling price of 7,500 XEN Tokens is 1 ETH. The release is subject to several conditions:
No XEN Token creation, minting, or mining will occur after the end of the ICO period.
XEN Tokens will be transferable once the ICO is completed.
Upon reaching its target, the ICO will last for no more than 7 extra days.
Upon reaching its hard cap, the ICO will end immediately.
1.3 SMALL CONTRIBUTORS:
XENTAVO has been conceived to help Small Countries, so it makes perfect sense to have a special offer for small contributors too, who make contributions of less than 0.5 ETH per address. These contributors will receive the same bonus as our large contributors. The bonus for small contributors will be 80%. XENTAVO has allocated 57,000,000 XEN Tokens for this group.
The total supply of XEN Tokens that will ever be created is 700,000,000. All XEN Tokens will be generated and distributed according to the chart below. The provided information on token creation, processes, allocation, and use of sale proceeds reflects the current plan, but is subject to change at XENTAVO’s discretion.
The XEN Tokens allocated for the company will be vested for 12 months. The XEN Tokens for investors and advisors will be vested for 6 months. Unsold tokens will be vested for 6 months.
1.5 FUND ALLOCATION:
XENTAVO plans to use the funds raised during the ICO in accordance with the outlined roadmap schedule.
1.6 AUDIT OF THE SMART CONTRACT SYSTEM:
The Smart Contract System has been, on a reasonable effort basis, audited and approved by technical experts. These technical experts have confirmed that the Smart Contract System has been structured (regarding both accuracy and security) according to the most current state-of-the-art specifications.
However, smart contract technology is still in an early development stage and its application is experimental in nature, which carries significant operational, technological, financial, regulatory, and reputational risks. Accordingly, while the audit conducted raises the level of security and accuracy, the audit does not amount to any form of warranty, including direct or indirect warranties, that the Smart Contract System and the XEN are fit for a particular purpose or do not contain any weaknesses, vulnerabilities, or bugs which could cause, inter alia, the complete loss of ETH and / or XEN.
1.7 ERC-223 TOKEN STANDARD:
XEN, built on the Ethereum network, will adhere to the ERC223 standard:
XEN, built on the Ethereum network, will adhere to the ERC223 standard, which holds three primary improvements: (
It eliminates the problem of lost tokens, which occurs during the transfer of ERC20 tokens to a contract (when people mistakenly use the instructions for sending tokens to a wallet). ERC223 allows users to send their tokens to either wallets or contracts with the same transfer function, thereby eliminating the potential for confusion and lost tokens.
It allows developers to handle incoming token transactions and reject unsupported tokens, which is not possible with ERC20.
It offers energy savings. The transfer of ERC223 tokens to a contract is a one-step rather than a two-step process, as is the case for ERC20, which translates to two times less gas and no extra blockchain bloating.
1.8 AML / KYC CRITERIA & REQUIREMENTS:
XENTAVO will be KYC / AML compliant to ensure data protection and for transparency reasons. XENTAVO will be using a professional third party to verify private information. For this purpose, identity verification will be outsourced to a law office.
1.9 SECURITIES REGULATION:
The XEN Token private sale will be conducted based on Simple Agreement for Future Tokens (SAFT) guidelines to ensure a compliant token sale.
The SAFT Project is a forum for the discussion of a compliant framework for token sales. Its goal is to develop an industry standard that protects the interests of network creators, investors, and users. The framework set forth in the SAFT white paper is the best tool currently available for navigating US law. It does more than just define successful legal structures; it seeks to respect the policy goals that drive the law.
US investors who participate in the XEN Token sale need to qualify as accredited investors. By law, XENTAVO is required to only allow accredited investors in the XEN Token sale.
1.10 LEGAL & REGULATORY REMARKS:
These projections are forward-looking; subject to significant business, economic, regulatory, and competitive uncertainties and contingencies, many of which are beyond the control of XENTAVO and its management; and based upon assumptions with respect to future decisions, which are subject to change. Actual results will vary, and those variations may be material. Nothing in this whitepaper should be regarded as a representation by any person that these objectives will be achieved, and XENTAVO undertakes no duty to update its objectives as circumstances change.
The XEN Token sale represents a voluntary contribution toward the execution of this product vison by its current and future team, as it is described in this whitepaper. The XEN does not grant any direct equity stake or profit sharing. It does not represent an ownership right or claim in the XENTAVO platform, revenues, or intellectual property, either present or future.
Despite the XENTAVO team’s best efforts and diligence to bring this project forward, all contributors should be aware that their contributions are not refundable and should accept the inherent risk of project failure at any stage of development. This implicit risk is associated with any and all uncertainty of backing cutting-edge technologically-focused entrepreneurial projects and can be affected by either internal or external factors that are out of the control scope of the team. Additionally, contributions may be subject to any applicable compliance regulations (including KYC, AML, and others, where applicable).
The XEN can be used in the XEN platform with a corresponding utility value inside such ecosystem and will not provide any redemption rights. We believe that the XEN Token does not qualify as a security and does not provide a contributor equity share in the legal structure of any of the XEN entities. As a preventive measure of caution, and due to new regulations promulgated by the US Securities and Exchange Commission (SEC), XENTAVO currently does not accept contributions from US citizens. US citizens may not expect to have access to the ICO under the same terms and conditions as residents or citizens of other countries or jurisdictions. In the event the ICO is open to US citizens, different terms and conditions may apply.
ENTER SECURE XEN TOKEN SALE
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