Topic: [Bounty][Thread] - LITRABIT - Education Decentralized - ERC20 Token (Read 395 times)

What is LitraBit
LitraBit is an ERC20 token, a cryptocurrency based around the successful Ethereum Blockchain. That will replace traditional cash in the educational ecosystem. It aims for a future where most if not all transactions on a college or university campus take place in LitraBits. So students can use their owned tokens to pay their fees or pay cafeteria bills, even make transactions among themselves. We also aim to introduce this system to all the big book/stationary retailers so a student does not need anything more than a smartphone and LitraBit wallet when on campus or anywhere related to his/her education to make any financial exchanges. These transactions can be made through your regular Ethereum wallet

It all starts in a university in Singapore. When the new semester rolled around in Spring 2018, students were handed their fee payment slips once more and almost everyone was angry at the fact that like so many times before the fee prices had surged up because of the inflating economy, and it reflected the global fact that education was going more and more out of reach of the ordinary people. Combine with that the fact that students can’t just survive on air and water alone other expenses count into this over all expense of education as well. So during this
period a few students had a flash of genius when they started to discuss this issue with a dedication to solve this problem. The answer they found came from the recently booming cryptocurrency ecosystem. Why not apply this decentralized currency system to the cost of education? So that students can get quality education reliably without the stress of their assets losing their worth over time because of a troubled economy, and that student can rely on a decentralized universally accepted currency that can be exchanged for education related services. And that brings us here, once the idea was introduced these same students got together, arranged a team from various fields of expertise and got to work.

Benefits of using a cryptocurrency for Education?

 *Assurance
Resource ownership is ensured by the blockchain
innovation, which gives carefully designed decentralized store of
records. Which means there can be no fraud, counterfeiting or
theft of resources that goes undetected.

 *Security
A crypto currency wallet is secure with you and you are the only one
who can give access to others. On the other hand when you use a
Credit card or traditional banking solutions, you are giving access
to multiple 3rd party individuals which can make you venerable to
Identity thefts and frauds.

 *Liquidity
There aren’t major discounts or premiums attached to the buy
or sell of an assets of Cryptocurrency. So LitraBit’s Purchasers and
venders can exchange property tokens without causing significant
changes in resource costs or worth.

 *Changelessness
Once Created Digital Currency exists in a fixed number
which cannot be manipulated or changed later. Which enables it
to sustain its value.

 *Price Discovery
LitraBit assets are Ethereum based and freely tradable on digital
currency exchanges, ensuring price transparency and discovery of
current value.

 *Availability
Cryptocurrency exists on digital platforms which will
allow anyone to make a transaction anytime without the need
to be physically present somewhere which makes it available
24/7 without bank holidays and time limitations.

 *Universality
One of the main benefits for implementing a single
standard in the whole educational ecosystem is universality as
it allows a global standard to exist allowing students or users
from any corner of the world to access any service anywhere
they want. And since ERC20 – the smart contract that LitraBit is based on –
is a widespread standard, this token can be easily exchanged and stored in
any wallet of the choosing.

 *Low Fees
Since multiple 3rd parties will be taken out of the picture
with a decentralized blockchain based currency, which
everyone has access to. This will result in lower cost of services.


What are the key Features and Services provided by LitraBit?

Services Offered:

 -Use in the Education Ecosystem:
We are going to offer the first ever blockchain token system to the educational ecosystem, making it easier and cheaper for students to pay dues and make all the necessary transaction that are required to keep their educational process going. It will include paying the institutional
fees, cafeteria bills, hostel dues, receiving scholarships, buying books and lab equipment, making personal transactions and much
more.

Use in all major Book Shops:
We are also aiming to get all the major book/stationary retailers along with all educational services providers on the
platform, so a LitraBit token is all a student needs to pay for his/her educational needs.

- LitraBit Scholarships:
In the near future after we have the complete system in place, one aim is to create incentive for its use by making scholarship bonuses available to students who are loyal to the system and keep good academic standings throughout their semester who will be evaluated on the basis of their subjective needs. This scholarship will be paid by a certain percentage to the LitraBits revenue after the project has achieved initial success.

- 3rd party Educational scholarships:
To make this a truly universal currency we are not just focusing on educational institutions to accept this currency but to also initiate payments in the form of LitraBits for which purpose we will aim to form contracts with scholarship providers to pay their scholarships in LitraBits. So that a student does not have to go through the hassle of exchanging currencies when he receives a stipend or scholarship.

-Offered as Incentive for academic achievement by the Institutes:
Once live the LitraBit tokens can be offered to teachers to use as incentives for their students to get better grades, based on performance on things like quizzes, assignments and exams. This will increase the need for academic achievement among students along with making a system that more and more teacher and students want to get on. It will also serve the secondary function of taking financial burden off of students who can’t manage dedicating time to either studies or working part time. For This purpose LitraBit will initiate specialized wallet accounts for teachers with
incentives so they can motivate their students.

*1250 LitraBit to translate whitepaper.
* 417 LitraBit to translate Bounty thread.
Price: 1 LitraBit =0.2$

Languages required:
French Reserved
Russian Reserved
Arabic Reserved
Vietnamese Reserved
Indonisian Reserved
German
Spanish  Reserved
Malaysian
Romanese
Thai
Turkish
Italian Reserved
Portuguese
Chinese
Japanese
Korean
Greek
Polish
Filipino Reserved















How exactly will this currency be used ?
Since LitraBit is an ERC20 based token, it can be used as any other Ethereum
based token to get services or traded for other Cryptocurrency. But the main
implementation for its use is going to be in the Educational Ecosystem. The
students will use the token with the help of the LitraBit specialized app/wallet or
any other Ethereum wallet that will allow them to trade from peer to peer or with
an institute wherever a financial transaction is required. They will use this currency
to pay bills at the cafeteria, pay fees and dues or pay for other services such as a
library or a stationary shop. Third party Educational institutes will also be
incorporated into the system e.g. a Scholarship program or major Books /
Stationary retailers so they also perform their transaction in LitraBits and LitraBit
can achieve its goal of truly becoming a universal educational currency. LitraBit will
also implement the LitraBit ATM card and the LitraBit Cash Debit Card.

What’s in it for the investors?
As it is with all opportunity in its primacy an early investment will get you
benefits and profits that one cannot simply achieve after the project has been
made successful and everyone wants a slice of the cake. Even though each
investment should be evaluated and assessed for its profit to risk ratio as you might
know it better than anyone as an investor, regardless following are the listed
benefits that you will achieve if you invest early in LitraBit, because this is going to
be the future of educational industry.

*Discounted rates through ICOs
ICOs are a great opportunity to get hold of assets on much lower price
than when it hits the market on a mainstream level. Through the initial
coins offering you can get very high discounts. These assets can then be
traded by the asset holder for valuable profit.

*Discounted rates for later token buying
For early investors LitraBit will offer discounts in future buying of
LitraBits based on which phase of the ICO they invested in.

- For Private sale investor – 10%
- For Pre-Sale Investors – 7%
- For Stage 1 investors – 5%
- For Stage 2 investors – 3%
- For Stage 3 investors – 2%

Initial Coin Offering (ICO) and its discount rates?
With a total supply of 22 Million LitraBits, 45% or 9.9 Million is designated
for LitraBit initiation, from which 0.5 Million will be used in marketing and 42.7%
or 9.4 Million will be offered for ICO. The ICO stages will allow early investors to
get LitraBit Assets at very high discount rates. Following the Presale, The Initial Coin
Offerings will be divided into 3 stages. The transfer of LitraBits in ICO stages can be
made through payments with Ethers and Bitcoins.

- Pre-sale:
With a target of selling 2.0 Million LitraBit Tokens, each token will be sold at
a discount rate of 0.20 USD allowing a 71.4% discount.
- Stage 1:
After the Pre-sale the stage 1 of ICO will target to sell 2.0 Million LitraBits for
a discounted rate of 0.35 USD allowing a 50% discount.
- Stage 2:
In stage 2 of the ICO will target to sell 2.0 Million LitraBits for a discounted
rate of 0.55 USD allowing a 28.5% discount.
- Stage 3:
In stage 3 of the ICO will target to sell 3.4 Million LitraBits for 0.70 USD.

Total Supply:
- 22000000 Litrabits
- Symbol: LTB
- Decimals: 18
- Contract: Coming soon on 26 April 2018

For more information visit our whitepaper

Team is coming soon and website will be live on 26 April. Don't forget to give us feedback stay in touch with us.