Meteor Games: INVECH REVIEW

INVECH HOPES TO BE THE CHANNEL FOR THE PEOPLE OF TIMOR LESTE TO ENHANCE AND TRANSFORM THE ECONOMY STATUS. THUS, CREATING A SUSTAINABLE ECONOMY, AND AT THE SAME TIME A TECH SAVVY AND ADVANCE, BLOCKCHAIN NATION

ABSTRACT
Overview
Invech Cryptocurrency Exchange is a cryptocurrency exchange spearheaded by Invech Group. We have our own platform tokens called Invech Coins or IV which runs on the ERC20 platform. Licensed and endorsed directly from the Timor Leste Government, our license covers the whole blockchain and cryptocurrency framework, including cryptocurrency exchanges, ICOs, mining farms, blockchain solutions and etc. It is also the first blockchain / cryptocurrency service coming out of Timor Leste.

Insufficient Human capital
Human capital is the collective skills, knowledge, or other intangible assets of individuals that can be used to create economic value for the individuals, their employers, or their community: Education is an investment in human capital that pays off in terms of higher productivity. The concept of human capital recognizes that not all labour is equal and that the quality of employees can be improved by investing in them; the education, experience and abilities of employees have economic value for employers and for the economy as a whole.

Unequal distribution of wealth causing severe poverty or income inequality
Income inequality is the unequal distribution of household or individual income across the various participants in an economy. It is often presented as the percentage of income related to a percentage of the population. For example, Overview PAGE 4 INVECH IEO WHITEPAPER a statistic may indicate that 70% of a country’s income is controlled by 20% of that country’s residents.

Absence of a national currency
Timor Leste is known to have adopted the US$ as its legal tender. Together with the US$, they also accept Indonesian Rupiahs (IDR) and their very own coins called Centavos (in the denomination of 1C, 5C, 10C, 25C, 50C, 100C and 200C; Every 100C is equivalent to US$1). After the occupation by the Indonesian forces, Timor-Leste adopted the US Dollars as its official currency in year 2000 due to many inevitable factors

INTRODUCTION
The need for an advance, up to date, user friendly and most importantly, safe exchange platform is growing every day. As traders/ crypto investors tends to have multiple accounts across multiple exchanges to prevent keeping all their eggs in 1 basket.

As of August 2018, many cryptocurrency exchanges globally are still struggling to register a cryptocurrency exchange/ ICO issuing license. As countries around the world start to regulate cryptocurrency, in compliance to AML act, with the inclusion of bank’s pressure, we believe very soon every exchange/ ICO will need to be licensed. With this thought in mind, our first approach is to get the license first instead of launching first. Enabling the cryptocurrency exchange to be in line with any regulatory body or laws that follows. While paying tax to assist the license issuing country as well (Timor Leste)

VISION, MISSION & CORE VALUES
Our Vision
Improving lives through blockchain and technology to create a stable and thriving digital econom

Our Mission
a. To introduce an alternative currency through the creation of Invech Token
b. Bringing in foreign direct investment & decreasing unemployment rate.
c. Regulating crowdfunding through controlled processes.
d. To fully tokenize tourism and agriculture in Timor Leste.
e. Improving human capital and capabilities of the local people of Timor Leste
f. To provide advice and consultancy to the government on blockchain and technology related matters
g. To provide education and training to improve livelihood.

Our Core Values

PROBLEMS

Overview

In line with any other cryptocurrency exchange, we will also look into a user friendly, multiple features, advance and up to date system, with advance security measures. However, our main concerns would be:

1. • Increasing regulations

With the growing scrutiny from banks and Timor Leste, different countries will have different regulations enforced, depending on the insight of different Timor Leste. As such, we chose to be licensed in Timor Leste, while our main office will be situated in Hong Kong. As per our intro, we hope to stay on par with the government for a win-win situation where the people of Timor Leste and our exchange users will benefit.

2. • High taxation for withdrawal

With the license in hand, we hope to be able to negotiate a low/ minimal tax rates for any withdrawals from the Timor Leste government. Thus, allowing exchange users to benefit from paying less tax. Furthermore, we hope to help the government of Timor Leste to negotiate a Double Taxation Avoidance Agreement (DTA) guideline with other countries. As a result, stimulating more foreign direct investments and brain gain into the country.

3. Withdrawal issues

We plan to have ATMs (Automated teller machines) installed in Timor Leste first, followed by other countries depending on our users’ demography. We will be working closely with the Central Bank and government of Timor Leste to prompt this process as soon as possible. At the same time, we will be looking to integrate fiat currency into our system as well. Mainly: USD, HKD and IDR. Hence, kick starting the crypto – fiat pairing. Fiat integration is significantly important to us as an exchange platform.

4. Poor customer service

Traders are a different breed when it comes to users. Understanding the trader mentality is vital for running a successful exchange. Money is literally on-the-line. Many exchanges service traders as if they were running a social media platform. A 3-second delay in seeing your friends’ status update would hardly be noticed, but on an exchange, the same would be unacceptable, resulting in a torrent of user complaints and monetary loss.

5. Internationalisation and language

The blockchain has no borders. Most exchanges focus only on one language or one country. Our international multi-lingual team has extensive working experience in North America and Asia, and we are able to smoothly support the global market. The main languages that we plan to support are English, Mandarin and Indonesian, Portuguese language. More languages will be added on later.

6. Absent / unproductive / poorly allocated platform tokens

There is a fundamental problem with IEOs (Initial Exchange Offerings). Namely, a high percentage of coins are held by a small number of people. After listing on an exchange, if the price goes up, then a small number of people would have made far more profit than the rest. If the price goes down, that means the small number of holders are selling heavily (potentially taking profit or stop-loss or what we call a ‘dump’), and all the new investors (buyers) are at a loss. Either way, a small number of people benefit at the expense of a large number of retail investors.

EXCHANGE

Exchange Features

a. Providing matching orders between buyers and sellers at best price available

b. Supporting multiple currency wallets, allowing centralized, easy implementation of several different cryptocurrencies. All cryptocurrencies will be automatically secure via a multi signature cold storage allowing security and preventing external access.
c. Full order book providing necessary liquidity to instantly buy and sell cryptocurrencies with tight spreads.
d. All cryptocurrency funds will be automatically managed by our integrated wallet software. All funds including cryptocurrency and fiat (which will be implemented accordingly)
e. We will support but not limited to: English, Chinese, Indonesian, Portuguese, Japanese and Korean on all of our user interfaces. (The very initial release will be in English, Chinese and Indonesian, Portuguese only.) More languages will be added over time

PLATFORM TOKEN - INVECH TOKEN

IV token is the fundamental token used by Invech in all of its project. As a start it can be used as a platform token for Invech Crypto Currency Exchange, and later be used on all of Invech licensed businesses. 500,000,000 unit of IV tokens have been created on the ERC20 platform, and the amount would never increase nor decreased. IV will run natively on the Ethereum blockchain, ERC20 platform.

These are the list of coins / pairs that will be listed first

a. BTC / Bitcoin
b. ETH / Ethereum
c. USDT / Tether
d. IV / Invech Token

LISTING ON INVECH CRYPTOCURRENCY EXCHANGE

If you have a coin/ token that you wish to be listed on Invech.io later, participating in our IEO (Initial Exchange Offering) will help. At the moment, we encourage ICOs to wants to list with us to reach out to us directly as different ICOs has different needs with different terms

Nevertheless, we will screen through all ICOs thoroughly before listing with us according to our listing SOP. You may also check out our website for our listing criteria once available.

USABILITY AND BENEFITS OF IV (WITHIN EXCHANGE)

You can use IV to pay for any fees on our platform, including but not limited to:

a. Transaction fees
b. Withdrawal fees
c. Listing fees
d. • Any other fee (TBA)

SECURITY

Invech takes security seriously. If you are wondering “Is Invech safe?”, the website and exchange is also on par with Crypto Currency Security Standard (CCSS) to protect Invech and all its users. CCSS is an industry standard for major exchanges and companies with ISO 27001 Information Security Management System (ISMS)*

INVECH Token (IV)

What is IV token?

IV token is the fundamental token used by Invech in all of its project. As a start it can be used as a platform token for Invech Crypto Currency Exchange, and later be used on all 9 of Invech licensed businesses. 500,000,000 unit of IV tokens have been created on the ERC20 platform, and the amount would never increase nor decreased.

How is it used?

IV Tokens can be used within the exchange to pay for transaction fees or outside the exchange where IV is a recognized mode of payment particularly in Timor Leste.

Mission

a. To introduce an alternative currency through the creation of Invech Token

b. Bringing in foreign direct investment & decreasing unemployment rate
c. Regulating crowdfunding through controlled processes
d. To fully tokenize tourism and agriculture in Timor Leste
e. Improving human capital and capabilities of the local people of Timor Leste
f. To provide advice and consultancy to the government on blockchain and technology related matters.
g. To provide education and training to improve livelihood

Benefits of IV token

1. Multi-Platform

Invech Token will be used on all platform of Invech Group’s business.

2. Exchange Discount

Get up to 60% discount on transaction fee when trading with IV Token.

3. Peer-to-Peer Payment

Ability to use it as P2P payment for business and individual. Mobile wallet to be released.

4. Early Bird Discounts

IEO participants can own IV Tokens at a discounted rate and enjoy token appreciation upon completion of IEO.

5. Crypto-Fiat

Platform for conversion of IV Token to Fiat to be launched in 2019.

6. Recognized

IV Token is recognized as a legitimate crypto currency by the government of Timor Leste.

7. To be widely accepted

The main mode of transaction for all Invech's development

8. Low Risk Investment

Invech is a licensed body from the Government of Timor Leste to conduct and regulate crypto related businesses.

Why participate in IV token sale?a. Established and strong ties with blockchain/crypto friendly government of Timor Leste.

b. LICENSED to implement Fiat – Crypto – Fiat.
c. All exchange users will have discounts up to 60% when they use IV to transact within the exchange.
d. Invech CRYPTO – FIAT ATMs.
e. Wide platform token usage – Over 9 licensed crypto and online businesses.
f. Active traders will reap rewards ranging from cryptocurrency bonusses, platform discounts, merchandises or a trip to Timor Leste.
g. Invech will be listed on the Nasdaq OTC Stock exchange by end of 2018 which will further increase exposure, reputation and confidence from the market. While at the same time, having token value appreciation.