Adel ▲ White Paper ▲ Managing the Ecosystem

▲ Management Series

By:   Gabriel Dusil, Co-founder & Board Member, Adel
By:   Michal Vavrek, Founder & Board Member, Adel

Abstract

This document frames the procedures established by Adel for community projects. We discuss the guidelines for proposal submissions, reviews and approvals, as well as management and operational oversight. We also outline fund allocation to approved projects and reward distribution to stakeholders.

Proposals

Project proposals are created and prepared by either the Adel R&D team or submissions from community members, known as Innovators. These will mostly concentrate on blockchain projects that favor global reach and potential. When the proposal originates from the R&D team, the recipients of the rewards will always involve the entire community. Submissions will need to follow the following business planning guidelines to ensure an efficient and streamlined review of the idea:

  • Executive Summary ▲ Presentation that summarizes the project for the Project Review Committee (e.g. PowerPoint, Prezi, or other canvas).
  • Invention Overview ▲ Product, solution, or service.
  • Marketing Strategy ▲ Strategic, tactical and operational goals, market landscape overview, competitive analysis, and unique selling proposition (USP).
  • Sales Strategy ▲ Strategic, tactical and operational goals, monetization possibilities, channels to market, regional focus, and vertical or horizontal market focus.
  • Capital Costs ▲ Research and development, production, and launch costs for the first three years of operation.
  • Operational Costs ▲ Staffing, expertise, operations and management, and a draft organization chart.

In order to stimulate new proposals, the Project Review Committee will manage an idea incubator where all members of the community can enhance their business plans. The R&D team will also be a source of ideas as a service to the community.

If a project idea comes from an individual member of the community, and if the inventor would like their idea to be public, then the project will be treated as if it had been submitted by the Adel R&D team (Figure 1). However, if they wish to maintain ownership of their idea, then it will become an Innovator Project. All the documentation stated above is still required for Innovator Project submissions. Once a project is successful and reaches its targets, or if the project is sold, then the distribution of funds will be divided among shareholders according to the proportion of their Adelshare (ADS) purchases. These rewards may be distributed back to stakeholders in ADL.


Figure 1: Idea Submission to Project Launch

The Project Review Committee will monitor a project’s progress and success metrics. This will include the management of individual project managers who will report to the committee on a weekly or bi-weekly basis. The Project Review Committee reports to the Adel Board on project progress, and community participation will occur on a monthly or bi-monthly basis. The community will see a summary of these activities in the Project Module.

Ethical, moral, and legal standards will be monitored throughout the operation of projects. Violation of the Adel Code of Conduct will be addressed by a committee consisting of staff, Board members and legal experts. If a project is ongoing and successful, then rewards are distributed to holders of Adelshare (ADS) in a particular project.

Approvals

Final approval for every project is based on a community voting result. Members decide if the project will be funded from community funds or passed on to individual funding and become a Group Project. The Board serves as a curator of the community in order to remove unacceptable activities due to legal concerns, impracticality, or if the project violates Adel’s philosophy.

Part of the approval process is the Project Review Committee’s review of all relevant documentation necessary for approval. Cost analysis will be reviewed to determine whether there are sufficient funds necessary for the initial project’s capital, as well as ongoing costs for the first three years of operation. Business plans that are voted on and approved by the community will include acceptance of the business plan, including all costs involved. Funds released for each project will be approved by the Adel Board.

  • Human Resources ▲ With regards to the appointments of responsibility, the security of community funds prevails. Therefore, the members of each project will be identified according to Adel’s Anti-Money Laundering (AML) procedures.
  • Mentoring ▲ Mentoring for each project and its management will be provided by the Board and the project management team in order to maximize the return on capital utilized.
  • Participation ▲ Members will participate in the entire Idea to Project Supply Chain. They can present ideas, help improve on the market viability of the idea, help create the business plan, and solicit their expertise in the employment of a project.
  • Motivation ▲ Motivation for members of the project team will be in the form of rewards and salaries. Some members will also be stakeholders in the project, so this is added motivation to ensure their contribution is successful in the form of project rewards paid to the member in Adelphoi (ADL).
  • Employment ▲ The project team will be selected from knowledgeable experts within the community who have demonstrated expertise in the project’s respective area(s). If expertise cannot be sourced within the community, then the role will be filled by an external candidate.
  • Project Management ▲ Management of the overall project portfolio will be monitored by a Project Manager who will report to the Project Review Committee.

About the Authors

Gabriel Dusil

Gabriel is a seasoned sales and marketing expert with over twenty years of experience in senior level positions at companies such as Motorola, VeriSign (part of Symantec), and SecureWorks (part of Dell). His strengths lie in international business development and strategic partnerships, as well as the unique ability to translate complex ideas and technologies into language that decision makers can easily understand. Gabriel has a Bachelor’s degree in Engineering Physics from McMaster University in Canada and possesses expert knowledge in cloud computing, IT security, and video streaming technologies (Over the Top Content, OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages two blogs: https://dusil.com/ and https://gabrieldusil.com/.

Michal Vavrek

Michal is an entrepreneur with international experience specializing in global business development and project management. He graduated from Indiana University’s Kelley School of Business with a degree in Finance and International Business and worked in various capacities in New York, Zurich and Prague. Michal is an active cryptocurrency entrepreneur with an extensive background in Forex algorithmic trading strategies and is always seeking new opportunities that maximize blockchain technologies.

Adel ▲ White Paper ▲ Protecting the Community

▲ Management Series

By:   Travin Keith, Marketing and Blockchain Advisor, Adel
Gabriel Dusil, Co-founder & Board Member, Adel

Abstract

In this paper, we outline established procedures to mitigate risk to Adel’s ecosystem while protecting its brand, infrastructure, and the integrity of blockchain solutions.

Risks

This section will go over some of the risks that Adel faces from a community perspective and how it plans to face them.

  • Collusion ▲ While it is impossible to fully remove the chance of unethical collusion, Adel has taken measures to mitigate this risk. For example, any suspected collusion or other nefarious behavior will result in the community member being blacklisted. Stakeholders that collude to damage Adel in any way only serve to damage themselves as they also have a vested interest in the community’s success. The paradox is this: in order to have a significant impact on the community voting system, this individual would require a sizable amount of Adelphoi to influence the voting outcome, thus increasing their exposure and risk.
  • Fraud ▲ A certain level of trust is necessary within the community in order to approve, launch, and operate projects. This is especially true since every action is not on the blockchain itself. As stated under Fiduciary Integrity in the next section, steps will be taken with project leaders and staff to ensure that all projects are carried out efficiently, legally, and profitably. However, the risk of members behaving fraudulently still exists. For this reason, Community Code arbitration will be established with the board’s assistance.
  • Manipulation ▲ Voting fraud and manipulation will be eliminated by only revealing voting results after the voting window has closed. In addition, only stakeholders with a minimum amount of Adelphoi will be invited to the community to become community members. Furthermore, community members will vote based on the proportional weight of Adelphoi they hold. This will prevent fraudsters from creating multiple accounts in order to sway the community vote.
  • Abuse ▲ Moderators will maintain order to prevent spammers from taking over a discussion for specific projects or in the Adel community’s general discussion area. These moderators will be selected in terms of their incentive to keep their respective forum discussions free from spammers, as well as their ability to do so. If an abuse of power has been demonstrated by the moderator, then the issue will be reviewed in order to determine an appropriate course of action. Community members may be blacklisted if forum rules are not met or moderator warnings are not obeyed.
  • Confirmation Bias ▲ A confirmation bias is where people remember something in a way that confirms their own pre-existing belief. However, that belief may still be wrong. This can become an issue throughout the various decision processes in Adel where a community argument ensues because of a past decision or event. To avoid this issue, there will be a log of important events in the ecosystem, as well as a logged chat room. Furthermore, all voting decisions will be logged on the blockchain.
  • Money Laundering ▲ This refers to income with no regulation to maximize profits for as little cash outflow as possible. Money is accumulated through illegal means and flows into socio-economically productive industries. Adel’s philosophy is to follow regulatory compliance around Anti-Money Laundering (AML), and to ensure that community participants adhere to these procedures. It is of the utmost importance that the team, the community, and the Adel brand are protected.
  • Terrorism Financing ▲ Adel’s compliance to AML will mitigate risk to Counter-Terrorism Financing (CTF) by requiring all members of the community to be identified through AML guidelines. The exchange of financial information under CTF rules ensures the protection of the Adel ecosystem and assists law enforcement in their fight against terrorism.

Security

In this section, we will outline procedures created by Adel to mitigate harm to the integrity of its ecosystem, to Adel as a brand, and to the infrastructure created, all in order to realize Adel’s project goals.

  • Code of Conduct ▲ The Project Review Committee will ensure that projects comply with Adel’s Code of Conduct, which includes its ethical and integrity framework, together with the Adel Board. In addition, the distribution of salaries or capital gains cannot be fully automated and will require manual actions. Where people are involved, some trust will always be necessary. Trust is inherent in the operational oversight of each project. A level of trust is established with project leaders, experts, and operational staff, in order to successfully deliver on the project’s goals. Community members will not be anonymous in an effort to mitigate risk. They will be required to reveal their identity when they enter the Adel community.
  • Leadership ▲ The board will adhere to the Code of Conduct at all times. Any breach of the code will be dealt with a review procedure conducted by an impartial team. The results of the procedure will determine the proper course of action. All reviews will be handled on a case-by-case basis while taking into consideration previous decisions made. In more serious cases, the board can decide to suspend or remove a member. All board members and staff are required to sign and adhere to the Code of Conduct.
  • Technology ▲ The blockchain used by the Adel ecosystem will initially be the Nxt platform, and will move to Ardor once it is deemed suitable. Because of this, the security of projects and the ecosystem itself will be dependent on the security of Nxt. To ensure platform resilience and integrity, Adel will maintain a strong relationship with Jelurida, the Nxt and Ardor core development team, as well as the community itself. In cases where Adel can be of assistance to the platform, Adel will contribute resources to protect the integrity of the platform.
  • Community ▲ Adel will establish an open and productive communication channel with the community. Integrity will be established through a Community Code that will be agreed upon by each member as soon as they join the community. Abuse, negligence, or any unethical behavior will be investigated and may result in the community member being blacklisted from the forums, voting, or project participation.
  • Fiduciary ▲ While Adel is working to eliminate the need for trusted third-party authorities, there are some cases where trust is necessary – especially with actions external to the blockchain. For example, the approval of projects will be initially submitted to a Project Review Committee. This will include members that have expert oversight in venture capital investments, as well as legal, operational, and technical expertise.
  • Know Your Customer, KYC ▲ Project managers, the board, and staff members will demonstrate due diligence to the best of their abilities to ensure projects comply with legal and regulatory requirements. If further legal advice is required, the community will be solicited for their expertise and will have their credentials assessed. If none are available, then assistance outside of the community will be sought and brought in. Projects that do not satisfy legal and regulatory requirements will either be rejected or modified during the assessment process.

Protection

Integrity is one of Adel’s most important values. At Adel, we are dedicated to delivering a secure and trustworthy platform for community members so they can safely participate in the ecosystem. It is important that the actions we take as leaders of the community deliver on that goal. Adel’s staff will contribute their time and expertise to continually manage and improve the ecosystem. We are committed to helping our community succeed by operating legally and ethically in accordance to any applicable laws and regulations. Adel believes that in adhering to these principles we not only protect the Adel brand, community and its members, but also serve to protect the integrity of “blockchain as a brand”, as well as innovative projects that will be introduced to society and leverage this new technology.

About Adel

Adel is a technology incubator for blockchain innovation.

  • Adel is a global cryptocurrency community that is self-sustained and offers its own economic ecosystem with the Adelphoi token. Our community focuses on creating, developing and implementing use cases involving blockchain technology that covers a wide range of digital and physical industries. Supported projects are developed, discussed and decided by community members.

About the Authors

Gabriel Dusil

Gabriel is a seasoned sales and marketing expert with over twenty years of experience in senior level positions at companies such as Motorola, VeriSign (part of Symantec), and SecureWorks (part of Dell). His strengths lie in international business development and strategic partnerships, as well as the unique ability to translate complex ideas and technologies into language that decision makers can easily understand. Gabriel has a Bachelor’s degree in Engineering Physics from McMaster University in Canada and possesses expert knowledge in cloud computing, IT security, and video streaming technologies (Over the Top Content, OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages two blogs: https://dusil.com/ and https://gabrieldusil.com/.

Travin Keith

Travin is a seasoned marketer who specializes in web and international marketing. He has worked with over a hundred businesses around the world spanning a wide range of industries. Since 2013, Travin has been involved with cryptocurrencies as a trader, investor, marketer, and community member. He joined the Nxt Foundation as a board member in 2016, serving as its Marketing Director and a Blockchain Consultant, as well as the representative to Hyperledger, a Linux Foundation Project.

Adel ▲ White Paper ▲ Inspiring Innovation

▲ Management Series

By:  Jan Lamser, Co-founder & Board Member, Adel
Gabriel Dusil, Co-founder & Board Member, Adel

Challenges in Contemporary Economics

In most of the developed world, people enjoy improved health, relatively stable economics, unrestricted access to information, and a dynamic increase in personal freedom. However, as the force of globalization has increased over the past decades, we have paradoxically created a gap between individuals and communities, as well as between personal and social identities.

This is particularly the case where money is an underlying driver or motivational factor. The control of monetary policy and national budgeting, as well as project-specific investment allocation and respective yields, are confined to licensed experts who are largely regulated and centralized. These professionals are attuned to the prevailing globalization paradigm. Some of these authorities, by attempting to portray stability and growth, generate gigantic budget deficits which have the paradoxical effect of creating market volatility and instability in the longer term. By trying to mask the issues, they ignore real economic problems and create new instability. The Greek public debt resolution[i] and Jean-Claude Juncker’s (European Commission President) plans of exorbitant public spending[ii] are just two examples. The regulatory framework for banking, investments, and the economy as a whole is nominally aiming at maintaining stability. However, such protection can be seen as little more than a precursor to control, exclusion, and the formation of a technocracy[iii]. As a result, financial resources are deployed through the complex hierarchical structures of stock exchanges, banks, and fund management. This system is caught in a prevailing technocratic paradigm with very little opportunity for individuals to influence out-of-the-box thinking and FinTech proposals. As a result of this rigid structure, many entrepreneurial initiatives have limited access to institutionalized investment funding. Spontaneity and creativity is impeded by a heavily formalized process, established by sizeable institutions that have evolved over the last couple of centuries. Because of this, innovation is impeded as entrepreneurs are required to follow an arduous, compliance-based paradigm.

There is currently a lack of flexible investment options that allow a new project to pool enough resources to gain critical financial support and, at the same time, establish constructive influence and involvement over how they are deployed. A good idea, or successful project outside the mainstream, may not be able to access the funding opportunities that a more traditional, less disruptive project will have access to. Furthermore, projects that threaten monopolies in established markets run the risk of being trampled by large companies with seemingly endless legal resources or lobbying influences. This has resulted in many innovative or disruptive ideas being disqualified from investment consideration. The oil industry’s efforts to stifle electric car innovation throughout the second half of the twentieth century is just one example[iv]. Another is the systematic destruction of urban rail systems in the US at the beginning of the 20th century. As a consequence, the ability to borrow or invest is compromised or restricted for some projects. The adage “Neither a borrower nor a lender be”[v] rings true in regards to this particular form of exclusion. The choice, therefore, is not between the innovator or investor, but between risk management policies and/or political affiliations.

There are a number of attempts to circumvent these obstacles, such as crowdfunding websites like kickstarter.com which launched in 2009, as well as P2P lending schemes[vi]. Nevertheless, systems that can pool resources to finance viable, innovative projects on a larger scale and redeploy these resources gradually have not been created thus far.

Opportunities for a Distributed Ledger

A distributed public ledger using blockchain technology in combination with cryptocurrency fills an opportunity gap in today’s investment environment. Adel provides such a platform and is underpinned by a community-based scheme that combines elements of:

  • Venture Capital
  • Collective Intelligence
  • Participatory Economy
  • Co-working Entrepreneurship
  • Code of Ethics and Integrity
  • Cryptocurrency Technology

Adel will be built on the Nxt platform and will move to Ardor when suitable. This provides a robust infrastructure for this ecosystem. Adel allows stakeholders to pool financial resources using cryptocurrency. This eliminates traditional intermediaries and focuses momentum on projects decided by the community. At the same time, this model allows a majority consensus to co-exist with projects supported by only a minority of the community. With the decision power in the hands of the community, activities and decisions related to business, both analytical and operating, are controlled within the ecosystem. However, external professionals and associations outside of the ecosystem will be solicited to improve performance where necessary.

Distinctive Features of Project Funding

Adel provides a dynamic platform of entrepreneurship, freedom, management, communication and technology. The team has experience and expertise across multiple areas of business, as well as backgrounds and successful track records in various industries. As a community-based ecosystem, Adel will create an open architecture for joint entrepreneurship and challenge contemporary business principles. The unique structure of Adel is as follows:

  • Open Economic Interactions ▲ This allows certain roles that have been standard in classic investment vehicles to be eliminated (i.e. fund managers, brokers and auditors). Thanks to the distributed ledger system, many of these roles are no longer necessary as many administrative tasks can be automated through the use of the secure Nxt blockchain system. Administration overhead is thus decreased, leading to a much higher degree of agility and versatility. There is individual and community supervision on resource deployment, while maintaining a high standard of compliance and fiduciary accountability. Individual expertise and responsibility is also solicited for specific contributions without agency intervention.
  • Scrutinizing Outdated Assessment Processes[vii] By facilitating collective deliberations, Adel has the agility to filter social biases, political ideologies, and traditional economic beliefs. These are deeply ingrained preconceptions that could negatively influence the viability of new ideas. In some cases, they severely undercut innovation and the resources available to support them. Resource pooling with Adel is designed to be free of such indoctrinated ideologies. Adel institutionalizes the evaluation and relevance of ideas based on a pool of engaged individuals and their perspectives. This collective accountability allows for the funding of initiatives that may be legitimately rejected by a majority, but agreed upon by a select minority who may choose to maintain a vested interest in the project.
  • Cryptocurrency Roots ▲ Rooted in the distributed ledger, as well as blockchain and cryptocurrency communities, Adel does not derive its value from fiat currencies. While not rejecting the concept of fiat value, Adel´s approach is more nuanced and versatile. Adel allows for a larger set of funding possibilities for a given project proposal, including large or smaller group contributions[viii]. Adel opens up opportunities for new ideas and projects and potentially enhances their chances of success through intense interaction and community wisdom, all while securing communal or sub-communal resources and support.
  • Collective Intelligence ▲ The formula that Adel subscribes to is People, Process, and Technology. This contrasts with prevailing beliefs that technology alone leads to success. It is human nature to be suspicious of individual motivations and personal agendas, but project resources require human engagement, both in selling the business case and in the launch and operational functions of the project. At Adel, the experience and involvement of individuals is subject to communal approval and will be monitored by the Project Review Committee.
  • Expert Knowledge ▲ Cognitive science has shown that combined schemes which engage both experts and collective groups are the most effective. This has proven to be superior to alternatives that give full authority to an expert or leader or the community alone[ix]. Adel combines effective managers, individual experts, and a participative community. In an entrepreneurial context, this provides a balance of analytics, integrity and prudence, all of which contribute to the success of the ecosystem.
  • International Community ▲ Adel is a global platform that aggregates disparate parties interested in joint innovation. Participation is set by the Code of Conduct which is entirely non-discriminatory. Its main purpose is to ensure legal and regulatory compliance. This not only protects the Adel brand, but the integrity of the blockchain initiative and its reputation as well.

While Adel is driven by a team with European roots, its ambition is global. Project participation may involve contributing as an analyst, technology expert, fiduciary enforcer, manager, developer, or back-office participant, to name but a few. This community model enables participation from individuals who have local cultural experience and/or industry expertise. Adel enables innovation through resource placement in all phases of project development, encouraging experts, project leaders and controllers to both invest and participate in the community in a role that advances the development of a particular project.

Built for Innovation

Adel is inspired by the social structures that have evolved from a distributed public ledger and related blockchain applications. This community is relatively independent of collective governmental bodies by design. If certain jurisdictions become involved, the community can call on parties with appropriate skills and expertise to act on its behalf when there are none in the community who are capable or willing. Adel will have a constantly open dialog with the community while relying on its wisdom and expertise.

Adel represents a number of unique funding features. While associated with cryptocurrency, venture capital, startup incubation, and a cooperative platform, Adel is, above all, a technology-driven means for experts to collaborate. There are support systems in place to assist with successful project execution while acting as a distributed ecosystem in terms of process, procedure and power.

About Adel

Adel is a technology incubator for blockchain innovation.

  • Adel is a global cryptocurrency community that is self-sustained, and offers its own economic ecosystem with the Adelphoi token. Our community focuses on creating, developing and implementing use cases involving blockchain technology that covers a wide range of digital and physical industries. Projects are chosen by the community and successful ventures are either re-invested in for further growth or issued as rewards to Adel’s stakeholders.

About the Authors

Jan Lamser, Co-founder

Jan served for twenty years as a Senior Executive Officer and Board Member at Československá obchodní banka, a.s. (part of the KBC Group), the #1 commercial banking institution in the Czech Republic. He is one of the best business strategists in the region with a reputation for visionary talent and abilities. Jan is a FinTech entrepreneur and leading spokesperson for blockchain innovation in Central and Eastern Europe. He is also an associate of the Czech FinTech Association (CEFTAS), Deputy Chairman of the Institute of Computer Science, and has authored several articles on distributed open ledger technologies.

Gabriel Dusil

Gabriel is a seasoned sales and marketing expert with over twenty years of experience in senior level positions at companies such as Motorola, VeriSign (part of Symantec), and SecureWorks (part of Dell). His strengths lie in international business development and strategic partnerships, as well as the unique ability to translate complex ideas and technologies into language that decision makers can easily understand. Gabriel has a Bachelor’s degree in Engineering Physics from McMaster University in Canada and possesses expert knowledge in cloud computing, IT security, and video streaming technologies (Over the Top Content, OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages two blogs: https://dusil.com/ and https://gabrieldusil.com/.

Resources

[i] “Explaining Greece’s Debt Crisis”, 16th June, 2016, http://www.nytimes.com/interactive/2016/business/international/greece-debt-crisis-euro.html?_r=0

[ii] “Germany plans €10bn extra public spending”, By Stefan Wagstyl, 6th November, 2014, http://www.ft.com/cms/s/0/a973366a-65dd-11e4-898f-00144feabdc0.html#axzz4JHxgV7MT

[iii] The self-referencing nature and overwhelming power of technology – oriented rationality as predicted in mid-20th century by Horkheimer, Adorno, Heidegger and others – is about to come true in contemporary global finance.

[iv] “Who Killed the Electric Car?”, Wikipedia, https://en.wikipedia.org/wiki/Who_Killed_the_Electric_Car%3F

[v] Act I, Scene III of William Shakespeare’s play, “Hamlet”.

[vi] “30 Peer-to-Peer Lending Experts Reveal Their Top 3 Investing Tips”, by Warren Lee, http://thelendingmag.com/peer-to-peer-lending/

[vii] Paraphrasing Adorno´s key book on contemporary rationality, Adel promotes “negative economic dialectics”. This means that Adel stands against ideologies embedded in contemporary economic global frameworks.

[viii] As opposed to mainstream economic frameworks dwelling on the ideology of economic equilibrium, Adel is inspired by Schumpetrian thinking which underscores the creative power of free innovation. Destructive and outdated business concerns portraying instability as a natural state of the economy are avoided.

[ix] http://www.nasa.gov/centers/goddard/about/organizations/OCKO/casestudies/#.V8CH0Zh97uo

https://en.wikipedia.org/wiki/History_of_banking

https://en.wikipedia.org/wiki/General_Motors_streetcar_conspiracy

Adel ▲ Motion Graphics ▲ Infographics

Adel has released its third motion graphic video, showcasing a selection of our infographics. We have also published several white papers on our website outlining our vision for a community-based incubator for blockchain innovation. Join our Initial Coin Offering (ICO) on the 1st of May 2017, and participate in the creation and ownership of cutting-edge blockchain solutions that will change the world.

Checkout our website at www.adelphoi.io, and our other videos in the “Why Us” section.

 

Home - Signature, Gabriel Dusil ('12, shadow, teal)

Gabriel Dusil
Co-Founder & Board member, Adel

Adel ▲ White Paper ▲ Maintaining Integrity

adel-white-paper-icons-v2-3_6

▲ Identity Series

By: Gabriel Dusil, Co-founder & Board Member, Adel
By: Travin Keith, Marketing & Blockchain Advisor, Adel

Abstract

This white paper outlines the principles of a community-based ecosystem and how this can be sustainable and profitable using cryptocurrencies as its foundation.

Manifesto

Adel

Adel is guided by a transparent and open economy. This ideology gives control back to the community and allows for any member to audit, scrutinize, and improve the ecosystem. This economy protects against negligent behavior as transactions, decisions, and the lifecycle management of projects are visible and auditable by the entire community.

A Community-based Funding Platform

Adel believes in the future of cryptocurrency and blockchain technology. We believe in connecting this technology to projects both inside and outside the digital world. Our goal is to increase and sustain the value of cryptocurrencies by deriving value from the ownership and management of businesses and projects. This will be achieved by creating a secure platform where projects can be proposed, evaluated, and approved by community members. These projects will take the form of technology projects, blockchain innovation, or cutting-edge businesses. Adel’s projects will create opportunities for employment, participation, and innovation. Project teams within the community will work together to sustain the value of Adelphoi through profitable projects that benefit all members within the community.

The State are the People & the People are the State

As a self-sustaining macroeconomic ecosystem, Adel will utilize the benefits of a decentralized technology and community. The decision-making process will capitalize on the community’s knowledge to collectively make the best decisions possible while maintaining strong integrity, ethics, and business principles as overseen by the Adel Board. In this ecosystem, the Adel Board will act in an advisory role, providing services that protect and care for its community, while enforcing the rules that protect the Adel brand and the integrity of its blockchain. The ecosystem will be self-sustaining and efficient in economic terms. Leaders will be appointed in a way that maximizes resources, i.e. with the highest level of expertise, integrity, and due diligence. Profits will either be reinvested or paid back to community members, thus enhancing the economy and providing incremental value to its community. Socialization and collective responsibility are basic principles that will help stimulate success.

Nxt

After extensive research, which included the evaluation of different cryptocurrencies and blockchain technology platforms, Adel decided to build on the Nxt platform – a blockchain with features that expand the functionality of pioneering cryptocurrencies such as Bitcoin. These features include Shuffling, Voting, Aliases, and Phasing. The source code for Nxt has also been publicly disclosed, optimized, and perfected using (among other techniques) the Error Propagation Method, where the investigation and awarded discovery of deliberately inserted errors serves to help audit the source code itself.

Adel will move to Ardor, the multi-chain development of Nxt, in late 2017. Like Nxt, Ardor will have features that enhance the functionality of blockchain technology, making it an ideal platform for future projects.  The Ardor child chain architecture will allow for the easy creation of a dependent blockchain that will be connected to and secured by the main Ardor blockchain. Ardor also solves scalability issues with a pruning feature so that future nodes will only download and keep transaction records on the main chain, as well as child chain transactions from the past 24 hours. However, it is still possible for child chain transactions to be kept, if so desired, with the use of an archival node that keeps all of the transaction records. This scalability is one of the ‘Holy Grails’ of cryptocurrency and blockchain development.

Nxt has already revolutionized the world of blockchain technology platforms by providing groundbreaking cryptocurrency features, as well as a powerful, modular toolset to build innovative business opportunities. All of Nxt’s functionality will be present in the Ardor platform, in addition to the advanced features (such as global scalability) that the Ardor multi-chain architecture will provide.

Philosophy

The following guidelines represent Adel’s philosophy regarding the operation of its community and projects. This philosophy ensures consistency of thought across the Adel ecosystem, as well as within the wider blockchain ideology and principles.

Decentralized

Our philosophy is global, so it applies to all levels of management and all geographic locations. We expect partners who are acting on our behalf to also adhere to equally high standards. We will continue to seek out business partners that share our beliefs. In addition, the Adel Board has a special responsibility to lead with integrity in ways that reflect positively on Adel’s overall project.

  • International ▲ Adel is a decentralized global ecosystem, proudly employing staff and serving customers all over the world. Our Code of Conduct applies to all of Adel. It embraces diversity and respects cultural differences.
  • Community ▲ All community members must follow our policies and ethical principles as soon as they accept our Community Code upon registration.

Transparent

We value openness and transparency. We keep our commitments to each other, our community, and our partners. Our Code of Conduct is signed by all members of the Adel staff. This code outlines the policies of Adel and includes our ethical principles.

Trusted

Adel will endeavor to programmatically minimize or otherwise remove the possibility of individuals manipulating the voting module to their advantage and compromising the integrity of the Adel community and its projects.

  • Trust is not Assumed ▲ The community will be able to audit the platform and projects, as well as create applications that can programmatically audit activities.
  • Restrictions ▲ The Adel Board and staff cannot vote on projects. Once a project has been approved by the Project Review Committee, only the community can vote on its approval. This is to remove any bias of the Adel staff from the community’s decision.
  • Safeguards ▲ To avoid voting manipulation, results will only be available after the voting deadline. In addition, voting weight will be established at the time of the voting deadline. This way, voters trading their Adelphoi during the voting window will not have any voting influence since their vote will only be weighted at the date and time of when the voting window has closed. Also, it will not limit new community members who have joined during the voting window and wish to vote on a specific project.
  • Blacklist ▲ A blacklist of community members will be established. In cases of suspected fraud or manipulation of the voting system. Those community members will be added to the blacklist, resulting in future voting restrictions and other limitations in community activities. Arbitration procedures will be established for those that dispute their addition to the blacklist.

Efficient

  • Mitigating the Need for Trusted Third Parties ▲ Adel will provide a platform that can be auditable by anyone who is a community member. In environments, such as healthcare, insurance, IT security, banking, and others where user data is concerned, some data protection, and privacy compliance will be necessary. For these projects, encryption, data anonymization, and other technical solutions will be utilized to meet regulatory requirements.
  • Mitigating Intermediaries ▲ Adel supports minimum transaction fees as part of the Ardor platform architecture. Adel will minimize the need for “middle men” in order to simplify the platform architecture where possible and minimize unnecessary transaction fees or skimming

Open Source

Where possible, systems will be free of proprietary solutions such as patents and other forms of intellectual property protection. The overall business processes and structures will be transparent to community members. The core Adel development code will be available under an open source license.

Distributed

Control will remain with the community and not a governing power. The Adel Board will act as a curator by providing leadership and filtering projects that violate Adel’s Code of Conduct. Adel’s Project Review Committee (PRC) will also provide guidance, options and suggestions, but the final decision will be made by the community. The PRC will also evaluate and approve projects, as well as participate in forums to discuss projects with the community.

  • Mitigating Centralized Control ▲ Adel will have a decentralized organization and platform of voting, project submission and project execution.
  • Mitigating Single Point of Failures ▲ Adel supports a distributed system architecture with high availability and redundancy where a Cost versus Risk balance is justifiable. Since Adel will run on the Nxt blockchain, all of the information pertaining to Adel will be secure. Blockchains have a massive amount of redundancy as one of its key traits, thus eliminating the need for an external backup system.

Private

Adel will be designed from the ground up to prevent external parties from collusion, fraud, extortion, or the manipulation of Adel and its community. Adel will continue to protect its community from activities that violate its Code of Conduct.

  • Mitigating Violation of Privacy ▲ The Adel community, will maintain privacy of its clients, partners and members where possible, while meeting regulatory compliance to Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF) and Know your Customer (KYC).

Principled

We use our values and ethical principles as decision filters to guide our behavior. We will turn down any business that is illegal, unethical or otherwise violates our philosophy.

  • Partnerships ▲ We expect all of our business partners to hold themselves to an equally high standard. We choose partnerships that share our values and high standards regarding legal and ethical business practices. We won’t let anyone damage our reputation or our brand by acting illegally or unethically in Adel’s name.

Ethical

Integrity is one of Adel’s most important values. At Adel, we are dedicated to delivering a secure and trustworthy platform for community members so they can safely participate in the ecosystem. It’s important that the actions we take as leaders of the community deliver on that goal. Adel’s staff will contribute their time and expertise to continually manage and improve the ecosystem.

Adel is committed to helping our community succeed by operating legally and ethically in accordance with any applicable laws and regulations. Adel believes that in adhering to these principles we not only protect the Adel brand, community, and its members, but also serve to protect the integrity of blockchain as a brand, and the innovative projects that will be introduced to society.

About Adel

Adel is a technology incubator for blockchain innovation.

  • Adel is a global cryptocurrency community that is self-sustained, and offers its own economic ecosystem with the Adelphoi token. Our community focuses on creating, developing, and implementing use cases involving blockchain technology that covers a wide range of digital and physical industries. Projects are chosen by the community and successful ventures are either re-invested in for further growth or issued as rewards to Adel’s stakeholders.

About the Authors

Gabriel Dusil

Gabriel is a seasoned sales and marketing expert with over twenty years of experience in senior level positions at companies such as Motorola, VeriSign (part of Symantec), and SecureWorks (part of Dell). His strengths lie in international business development and strategic partnerships, as well as the unique ability to translate complex ideas and technologies into language that decision makers can easily understand. Gabriel has a Bachelor’s degree in Engineering Physics from McMaster University in Canada and possesses expert knowledge in cloud computing, IT security, and video streaming technologies (Over the Top Content, OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages two blogs: https://dusil.com/ and https://gabrieldusil.com/.

Travin Keith

Travin is a seasoned marketer who specializes in web and international marketing. He has worked with over a hundred businesses around the world spanning a wide range of industries. Since 2013, Travin has been involved with cryptocurrencies as a trader, investor, marketer, and community member. He joined the Nxt Foundation as a board member in 2016, serving as its Marketing Director and a Blockchain Consultant, as well as the representative to Hyperledger, a Linux Foundation Project.

Adel ▲ White Paper ▲ Differentiation In the FinTech Revolution

adel-white-paper-icons-v2-3_5

▲ Identity Series

By: Travin Keith, Marketing & Blockchain Advisor, Adel
By: Gabriel Dusil, Co-founder & Board Member, Adel

Abstract

In this paper, we will discuss some of the existing cryptocurrencies available today, provide an overview of the marketplace, and establish how Adel is positioned within these contexts. Nxt is the platform that Adel will use for their digital marketplace. Adel will migrate to Ardor, the multi-chain development of Nxt, once it is deemed suitable.

Market Overview

Blockchain 1.0

The first iteration of blockchain was invented by Satoshi Nakamoto in 2008 and simultaneously introduced the first application of this technology with Bitcoin, a token intended to be used as a form of currency.

  • Bitcoin Bitcoin continues to maintain its position as cryptocurrency’s most popular coin despite a number of new tokens which have entered the industry. This is largely due to its status as the first genuinely decentralized cryptocurrency, as well as the first mover advantage it had. After its coverage in mainstream media, numerous 3rd party systems emerged to utilize its underlying blockchain technology for purposes beyond a form of currency.
  • Litecoin[i] In addition to the faster average transaction time of 2.5 minutes (compared to Bitcoin’s average time of 10 minutes), Litecoin uses the Scrypt algorithm[ii] instead of the SHA-2 hash[iii], thus allowing memory resources to be valued over processing power. As a result, readily available Graphic Processor Units (GPUs) are used for mining rather than the significantly more expensive Application-Specific Integrated Circuits (ASICs)[iv] used by Bitcoin miners, and are resistant to these customized processors being created specifically for Litecoin. Aside from this difference, Litecoin is very much a copy of Bitcoin, though, as its name suggests, it represents a lighter version.

Blockchain 2.0

These platforms came into focus around 2013 with the launch of Nxt[v] which used blockchain technology for various applications beyond having its native token serve as a form of currency. While the tokens themselves are also traded on exchanges, they are not intended to be used as a form of currency outside the network.

  • Ethereum[vi] Promoted as a “World Computer” and designed as such, Ethereum intended their token to be used within their blockchain as a form of payment for processing. By enabling Smart Contracts (essentially a protocol that allows the execution of a command when certain conditions are met) Ethereum turned the entire blockchain into a computer as users were now able to put these transactions into the blockchain itself. These Smart Contracts use Solidity[vii], a programming/scripting language created specifically for Ethereum.
  • LISK[viii] This platform promotes decentralized applications and side chains while using JavaScript as its development platform. LISK focuses on providing developers a platform to build, publish, distribute and monetize applications. Projects are suggested and voted on by the community.
  • Ripple[ix] Ripple focuses heavily on the world of FinTech by having their system used by banks around the world for cross-border payments. They are currently working with large banks to provide customers with international transfers at a lower cost.

Adel Differentiation

In our forth white paper entitled “Creating Value with Cryptocurrency”, we reviewed the value of Adelphoi as a token within the Adel ecosystem and outlined similarities in the ways which other projects on Blockchain 2.0 platforms work. There are, however, a few key differentiators that set Adel apart from existing platforms. Those are:

  • Nxt & Ardor▲ Adel is built on the Nxt platform which has numerous features that will be extended to the Adel ecosystem. It will move to the Ardor platform, a separate blockchain created by Jelurida (a corporation of Nxt’s core developers), once it is deemed suitable. This provides projects with a wide range of features that have been thoroughly tested. The platform also utilizes templated smart contracts, known as smart transactions, in order to bring greater levels of security. Implementations of these and other features include phased transactions (i.e. multi-signatory authorization), assets that can represent either digital or physical products, decentralized voting, decentralized trading through asset exchange, and shuffling, otherwise known as mixing, which can be used to increase anonymity levels. The core developers of Nxt have been working on these features since its introduction in 2013. With this foundation of advanced blockchain features, the Adel ecosystem can focus on project development, best-in-class business practices, and an efficient and self-sustaining community. Adel will continue to capitalize on the features of Nxt and Ardor as both evolve. Other blockchain platforms can only be used if it is not possible or ideal to use the Nxt or Ardor platforms.
  • Board & Staff Support ▲ Adel will leverage the expertise of the board and staff. With a wide range of expertise both inside and outside of blockchain-related ventures, this team will act as public leaders for Adel, as well as actively contribute to its growth and development. Unlike other projects, the board and staff will be available for advice, consultation, and support to further the success of their projects before they are submitted to the community for voting, throughout the Project Review Committee process, and after the project has been launched. Innovator and Group projects will also benefit from the expertise of the Adel board and staff while maintaining their confidentiality.
  • Community & Participation ▲ Adel believes that a community-based ecosystem will be a strong differentiator in its funding platform. This follows the decentralized ideology of blockchain, while creating and maintaining efficiency in the decision-making process. Community members also have the option to participate as expert advisors and employees of projects and will have priority before the general public. This enhances accountability and inclusiveness to the success and profitability of new businesses, applications, or inventions.
  • Integrity & Conduct ▲ The values established by Adel will help legitimize the ecosystem it represents. Adel’s Community Code will be adhered to equally by Adel’s leadership, staff and community members. This applies to, though is not limited to, forum participation, project submission and approvals, as well as the operation of the projects themselves. Adel will also follow local and regional laws and regulations in its community activities and projects.
  • Security & Stability ▲ With the security and stability of Nxt and Ardor, Adel will have a robust platform to work with on top of the latest security features. Our staff will continue to enhance the platform to mitigate against fraud, collusion, and manipulation. IT security experts in the Adel and Nxt/Ardor community will be continually consulted for their support in vetting the Adel platform, as well as to aid in minimizing new threats as they become visible to the development team. High availability, security, and stability will be built into the community portal where a cost versus risk balance justifies the investment in IT best practices.

About Adel

Adel is a technology incubator for blockchain innovation.

  • Adel is a global cryptocurrency community that is self-sustained, and offers its own economic ecosystem with the Adelphoi token. Our community focuses on creating, developing, and implementing use cases involving blockchain technology that covers a wide range of digital and physical industries. Projects are chosen by the community and successful ventures are either re-invested in for further growth or issued as rewards to Adel’s stakeholders.

About the Authors

Travin Keith

Travin is a seasoned marketer who specializes in web and international marketing. He has worked with over a hundred businesses around the world spanning a wide range of industries. Since 2013, Travin has been involved with cryptocurrencies as a trader, investor, marketer, and community member. He joined the Nxt Foundation as a board member in 2016, serving as its Marketing Director and a Blockchain Consultant, as well as the representative to Hyperledger, a Linux Foundation Project.

Gabriel Dusil

Gabriel is a seasoned sales and marketing expert with over twenty years of experience in senior level positions at companies such as Motorola, VeriSign (part of Symantec), and SecureWorks (part of Dell). His strengths lie in international business development and strategic partnerships, as well as the unique ability to translate complex ideas and technologies into language that decision makers can easily understand. Gabriel has a Bachelor’s degree in Engineering Physics from McMaster University in Canada and possesses expert knowledge in cloud computing, IT security, and video streaming technologies (Over the Top Content, OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages two blogs: https://dusil.com/ and https://gabrieldusil.com/.

References

[i] Litecoin, https://litecoin.org

[ii] Scrypt algorithm, https://en.wikipedia.org/wiki/Scrypt

[iii] SHA-2, https://en.wikipedia.org/wiki/SHA-2

[iv] Mining hardware comparison, https://en.bitcoin.it/wiki/Mining_hardware_comparison

[v] https://bitcointalk.org/index.php?topic=303898.0

[vi] Ethereum, https://www.ethereum.org

[vii] Solidity, https://solidity.readthedocs.io

[viii] LISK, https://lisk.io

[ix] Ripple, https://ripple.com

Adel ▲ White Paper ▲ Creating Value with Cryptocurrency

adel-white-paper-icons-v2-3_4

▲ Identity Series

By: Gabriel Dusil, Co-founder & Board Member, Adel
By: Michal Vavrek, Founder & Board Member, Adel
By: Travin Keith, Marketing & Blockchain Advisor, Adel

Abstract

This white paper outlines Adel’s advantages from three vantage points: a) Blockchain technology, b) the Nxt (and soon, Ardor) platforms on which Adel is built, and c) additional business processes Adel has introduced into its ecosystem to provide effective, community-based development and funding.

Ecosystem

Since the inception of Bitcoin in 2009 by Satoshi Nakamoto, there have been numerous developments into blockchain technology. Adel will further these developments by creating an ecosystem to promote the use of blockchain technology and create solutions in various industries. The ecosystem will leverage the expertise of the Adel Board, the R&D team, the Project Review Committee, and members of the community, while at the same time creating a supportive environment for innovative projects. Adel’s token, known as Adelphoi, will be used as a basis for distributing rewards from these projects. The success of these projects will thus directly influence the intrinsic value of Adelphoi.

Legitimizing Cryptocurrency

All members of the Adel community will work for the benefit of the ecosystem. Projects have the potential to span profitable industries such as IT, banking (Financial Technology, FinTech), insurance and healthcare as well as supporting humanitarian initiatives. Participation in these projects will be possible by holding the Adelphoi token. Each project will thus create unique opportunities for community members through the creation of new business and employment opportunities.

Advantages ▲ Blockchain & Cryptocurrency

Bitcoin is a decentralized, distributed application that uses a public ledger – the blockchain – to store and transmit cryptographically secured tokens. Representation of wealth is recognized when both the sending and receiving parties mutually agree on this premise. The blockchain paradigm requires mandatory publication of the source code under established open source licenses. This has resulted in a vibrant community of developers who have created many variations of the original protocol, ranging from simple copies of the code to truly evolutionary improvements.

Blockchain v2.0: Utility Beyond Money

The widely-known blockchain evangelist, Andreas Antonopoulos, has likened Bitcoin to ‘money being the email of the blockchain’. He was comparing the invention of blockchain to the introduction of the internet in the early 1990s, when people could not differentiate the internet from its first application: email. Once a second application of the internet was introduced – the World Wide Web or WWW – it became clear that email and the HTTP protocol were applications that ran on top of the internet. Likewise, this explains the confusion of Bitcoin and cryptocurrencies in general to the blockchain, where currency is the first use case of blockchain technology. With this realization, there has been an emergence of innovative applications that plan on taking advantage of decentralized open ledgers, i.e. the blockchain.

There are several well-documented advantages related to using blockchain technologies for financial and administrative purposes. These advantages are listed below in order to demonstrate the unique suitability of emerging blockchain technologies for the administration of economic systems:

  • Resilience ▲ Blockchain technology has a high level of redundancy and high availability which is unrivaled in the corporate world. The computers that manage the Bitcoin blockchain are collectively over 43,000 times more powerful than the top 500 supercomputers on the planet combined[i]. One cannot feasibly compromise these networks without acquiring a large amount of computing power to compete with the rest of the network.
  • Mobility ▲ Cryptocurrency users do not need to carry credit or debit cards. All they need is access to their online wallet to initiate a transaction. However, cryptocurrency credit or debit cards are slowly becoming mainstream.
  • Privacy ▲ Any participant of the ICO will have to identify themselves to meet minimum Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF) and Know your Customer (KYC) requirements. Aside from regulatory requirements, Adel will maintain privacy of client data where feasible. In fiat transfers, the sender’s and the recipient’s personal details are captured by all transfer intermediaries. These details can be used for invasive marketing purposes or more dangerous purposes such as ever more prolific identity theft.
  • Cryptographic Proof ▲ With blockchain technology, one does not rely on the trust of a third party. Thus, blockchain networks are usually called “trustless” systems. Preventing duplicate transactions or improperly generating coins is achieved through the use of an electronic payment system based on cryptographic proof and an open ledger which is auditable to anyone.
  • A Better Financial System ▲ Two and a half billion people on the planet do not have a bank account. Cryptocurrencies are perfect for extending financial services to remote locations and for helping to modernize developing countries by bringing them further into the global economy.
  • Serving Digital Society ▲ Blockchain has the potential for much more than just cryptocurrencies. New functionalities are being explored that utilize an open and auditable public ledger with the use of smart contracts, such as the Russian Central Securities Depository voting feature on the Nxt blockchain.
  • No Permissions ▲ No permission is needed to send or receive cryptocurrencies, whether this be from banks, intermediaries, governments, or other trusted third parties. The transfer of coins is agreed upon only between the sender and the recipient, and the owner has full control of his/her funds at all times. No authority can freeze a cryptocurrency account and seize its funds.
  • Lower Transaction Fees ▲ Credit card companies charge up to 3% per transaction, and in some cases even more. With some remittance systems, fees can be as high as 10% – 30% of the transferred amount. Cryptocurrency fees, if any, are several orders magnitude smaller.
  • Account Security ▲ Account control lies with the user via their private key. This private key can be kept offline (i.e. cold storage) for security purposes. Cold storage ensures that funds are not easily accessible to hackers.

Advantages ▲ Nxt & Ardor

Satoshi Nakamoto set out to create a decentralized digital currency that does not rely on centralized trust. He set out to programmatically remove the need for centralized trust by creating a decentralized and distributed ledger solution for monetary applications that prevents duplicate transactions and uses an open ledger that could be audited by anyone. Blockchain technologies are widely perceived as providing fiduciary integrity in the present macro-economic climate that is fraught with moral hazard, corruption, and systemic risks.

Since the launch of Bitcoin in 2009, several observations can be made with the benefit of hindsight: the blockchain is revolutionary in its design and has successfully proven its resilience in the goals it set out to achieve. However, weaknesses have surfaced in the services that complement Bitcoin. These services are mainly those that allow secure storage and trading of Bitcoin. These services have become susceptible to attacks from criminal individuals and organizations across the world who seek out flaws in the systems associated with the cryptocurrency with the goal of exploiting these weaknesses for their own benefit.

Since the launch of Bitcoin in 2009, significant developments have been made to the code. As of today, only around 15% of the code initially created by Satoshi remains in the core software. As is the nature of open source software, some developments have soon started outside Bitcoin, such as Litecoin and Namecoin. Eventually, as more attention was drawn to Bitcoin, especially due to the price spike to over $1000 in 2013, more clones were made. These new systems either proposed significant changes to the technology or just had minor adjustments as a clone of Bitcoin or another system. Nxt was also being created during this time. Unlike most of the platforms, Nxt was developed from scratch in Java, though it contained some of the same principles that Bitcoin introduced and built on them. The platform introduced a wide range of features to the wider community such as colored coins, later known as Assets, which can be created and transacted on top of the Nxt blockchain. This feature, along with many others, has made Nxt the pioneering platform of what is now called Blockchain 2.0. In 2017, Nxt’s core developers will be releasing Ardor, a blockchain platform that utilizes Nxt technology and allows users to create their own blockchains known as child chains, which are secured by the Ardor main chain.

Here we present the most salient features of the Nxt and, soon, Ardor platforms. This second-generation blockchain is utilized to implement different modules in the Adel ecosystem. A community that wishes to establish a viable economic ecosystem needs to address these issues and implement measures to mitigate risk. The following cutting-edge monetary and administrative features illustrate why the founders of Adel have chosen these platforms:

  • Proof of Stake ▲ This is a method used by Nxt (and subsequently by Ardor) to gain network consensus and prevent double spending. In this system, the active node (a device running the Nxt client and actively contributing to the network by forging the next block, thereby processing the pending transactions and acquiring the transaction fees), is determined by assessing the NXT balances of all nodes actively forging and gives a higher chance to forge to those that own a larger amount of NXT (i.e. their stake in the network). In this manner, each unit of NXT is akin to that of a mining rig for the purposes of determining who mines the next block in a Proof of Work system, where a higher level of hashing power gives a greater chance of mining the next block and claim its rewards. Since the determining factor is the balance of NXT and not computing power, the amount of energy used by all forgers is much less than that of a Proof of Work system. This makes it possible to forge NXT even with a Raspberry Pi.
  • Phased Transactions ▲ With Nxt, a set of conditions can be set in order for transactions to execute. For example, one party can set up future transactions on the platform (i.e. set to execute at a particular time) which is perfect for enterprise workflow scenarios and scheduling future payments. Users can also choose to have transactions processed only when another transaction has occurred, or when approved by other accounts. This latter implementation is otherwise known as a multi-signature, or multisig as multiple signatures.
  • Monetary System ▲ With Nxt, users can create their own currencies for their specific needs. This could be used for special events that give out event tokens to be used for redeeming certain products or services, or for online shops that give out special credits to be used within their store.
  • Decentralized Voting ▲ Decentralized polling for secure voting is possible with Nxt and will be used for various Adel projects, as well as for voting on the community itself.
  • Decentralized Marketplace ▲ While not directly implemented into the Adel ecosystem, the ability of the Nxt platform to have a decentralized marketplace could be utilized for future projects.
  • Assets ▲ Nxt allows for the easy creation of assets on the platform which are representations of certain products, be they digital or physical. An asset will be used to represent the contribution of a user in Adel projects to allow users to exchange these tokens with other users, as well as a determining factor of the amount of rewards they receive.
  • Asset Exchange ▲ Traditional cryptocurrency exchanges require the use of a centralized platform, as is the case with BitFinex, Kraken Poloniex and others. However, such centralized exchanges are always exposed to an inherent risk of failure, as was the case with Cryptsy[ii] and Mt. Gox[iii]. Nxt has developed a peer-to-peer internal exchange that offers decentralized trading, thus eliminating a single point of failure, as well as intermediary trading fees beyond the transaction fees.
  • Speed ▲ The average transaction time of Nxt is approximately 60 seconds per block. However, for Ardor, the transaction time can be delayed per child chain in cases where a slower transaction time is desired.

Advantages ▲ Adel

The Adel ecosystem is relatively independent of governments, international or domestic politics, as well as fiat economies. Its value is in leveraging Nxt and Ardor’s state-of-the-art blockchain technology, as well as the Adel ecosystem, and combining these technologies with best-in-class business practices. The Adel ecosystem is designed to implement the latest security features while also adopting best practices in business services. In creating a legitimate business on top of blockchain technology, Adel will demonstrate innovation and leadership with an organizational structure that is both sustainable and profitable. Here are some of the advantages of the Adel ecosystem.

  • Collaborative ▲ The establishment of a Project Review Committee which not only ensures that Adel will launch profitable businesses, but also represents legitimate, legal, and ethical projects. This is fundamental to the integrity of Adel and is vital to further legitimizing cryptocurrencies. Successful projects launched on Adel will help prove sustainable, long-term growth, as well as global monetization potential for blockchain technologies. After a project has been launched on Adel, whether it be from a proposal by the R&D team or an innovator from the community, the project manager will be adequately supported by the Adel staff, as well as community members participating throughout the lifetime of the project. This can either be in the form of expert advisory services, finding employees, or even assistance with securing additional external funding, such as with venture capitalists. Adel believes in utilizing expert decision makers to guide decisions made by the community. Once options have been authorized by the leadership, they are then submitted to the community for consensus, enhancement, and further decisions. This way, Adel establishes efficiency in the decision processes that guide the ecosystem, while also utilizing the experience and expertise of the community.
  • Resilient ▲ By leveraging the emergence of blockchain-as-a-service, Adel’s ecosystem was created so that participants have a collaborative platform to initiate, develop, showcase, and fund their innovations. Auditable financial transactions for all projects provides the foundation for a collaborative community capable of making important economic decisions. Adel provides a dynamic platform of entrepreneurship, freedom, management, communication, and technology. As a community-based ecosystem, Adel will create an open architecture for joint entrepreneurship while challenging contemporary business principles.
  • Prospective ▲ Community members will enjoy benefits such as access to the community portal which consists of a wide range of modules to collaborate, vote, and view the status of their account and projects. Members are also eligible for employment in any of these businesses and will receive first right of refusal before the general public.
  • Flexible ▲ Adel will have four types of projects that will be possible in its ecosystem:
    • If a project is introduced by Adel’s R&D team and it receives a majority of the votes, then it becomes a Community Project.
    • If a majority vote is not achieved, then it can become a minority or Group Project, if funded by members who support the project.
    • If a project is introduced by a community member or group of members (designated as the Innovator) and it receives a majority of the votes, it will become a Community Innovator Project.
    • If a majority vote is not achieved, then it can become a minority or Group Innovator Project, if funded by community members who support the project.
  • Exclusive ▲ Becoming a member to Adel’s community during the ICO requires a minimum investment of 1 bitcoin. After the 1st ICO this minimum will be increased to 2 BTC in equivalent Adelphoi (ADL). The voting system establishes the opinion of the majority (according to the amount of Adelphoi held by the respective community member). Social forums allow for open and constructive communications between community members who can ask questions, make comments and offer suggestions.
  • Principled ▲ As outlined in our white paper entitled “Maintaining Integrity in Equity Funding”, Adel’s integrity is the foundation of our success and for the sustainability of a profitable ecosystem. This integrity applies to all of Adel’s staff, as well as its community members.

About Adel

Adel is a technology incubator for blockchain innovation.

  • Adel is a global cryptocurrency community that is self-sustained, and offers its own economic ecosystem with the Adelphoi token. Our community focuses on creating, developing, and implementing use cases involving blockchain technology that covers a wide range of digital and physical industries. Projects are chosen by the community and successful ventures are either re-invested in for further growth or issued as rewards to Adel’s stakeholders.

About the Authors

Gabriel Dusil

Gabriel is a seasoned sales and marketing expert with over twenty years of experience in senior level positions at companies such as Motorola, VeriSign (part of Symantec), and SecureWorks (part of Dell). His strengths lie in international business development and strategic partnerships, as well as the unique ability to translate complex ideas and technologies into language that decision makers can easily understand. Gabriel has a Bachelor’s degree in Engineering Physics from McMaster University in Canada and possesses expert knowledge in cloud computing, IT security, and video streaming technologies (Over the Top Content, OTT). Gabriel also runs his own company, Euro Tech Startups s.r.o., and manages two blogs: https://dusil.com/ and https://gabrieldusil.com/.

Michal Vavrek

Michal is an entrepreneur with international experience specializing in global business development and project management. He graduated from Indiana University’s Kelley School of Business with a degree in Finance and International Business and worked in various capacities in New York, Zurich and Prague. Michal is an active cryptocurrency entrepreneur with an extensive background in Forex algorithmic trading strategies and is always seeking new opportunities that maximize blockchain technologies.

Travin Keith

Travin is a seasoned marketer who specializes in web and international marketing. He has worked with over a hundred businesses around the world spanning a wide range of industries. Since 2013, Travin has been involved with cryptocurrencies as a trader, investor, marketer, and community member. He joined the Nxt Foundation as a board member in 2016, serving as its Marketing Director and a Blockchain Consultant, as well as the representative to Hyperledger, a Linux Foundation Project.

References

[i] “World Bank: 75% of poor don’t have bank accounts”, By Anne Renzenbrink, 19th April 2012, cnn.com, http://www.cnn.com/2012/04/19/business/poor-bank-accounts/index.html

[ii] “Court Takes Control of Digital Currency Exchange Cryptsy”, By Stan Higgins, coindesk.comApril 4, 2016. http://www.coindesk.com/cryptsy-assets-frozen-as-florida-court-appoints-receiver/

[iii] “The Inside Story Of Mt. Gox, Bitcoin’s $460 Million Disaster”, By Robert McMillan, Wired.comMarch 3, 2014. http://www.wired.com/2014/03/bitcoin-exchange/

Adel ▲ Motion Graphics ▲ Launch

adel-get-your-adelphoi

We’re proud to release our second motion graphic video, introducing Adel to potential investors in advance of our Initial Coin Offering (ICO), launching on May 1st, 2017. We are also showcasing this video on our website, adelphoi.io, in the “Why Us” section. Also check out our white papers and our first announced project: P2P ATM.

Home - Signature, Gabriel Dusil ('12, shadow, teal)

Gabriel Dusil
Co-Founder & Board member, Adel