My Place X

The recent drop in the price of Bitcoin from a price of approximately $6000 to $4000, and the subsequent fall in price of all the other coins and tokens, has forced us to re-evaluate our Phase 0 ICO. It is clear that the markets are not mature enough for each coin or token to be evaluated on their own merit and that they are still dependant on the price of Bitcoin. Speculation is still the dominant factor.
With the fall of the price of Ethereum to nearly half of its value, it has put our ICO in jeopardy. The funds required are fixed, but the income is nearly halved. We therefor had a choice of either postponing the ICO or change the rate of our tokens per Ether. Changing the rate per Ether will have a negative effect on the exchange rate during our Main ICO, something which is undesirable, and it might be detrimental to early investors.
We have therefor decided that the best option is to preliminary postpone the Phase 0 ICO until the 15th of January 2019 and then to re-evaluate the markets. If the price of Ether is still the same, we will be forced to change the exchange rate. Hopefully this will not be necessary ....
We apologise for this sudden change and hope you will still support us in 2019. My Place X is a unique application of Blockchain Technology and it will be beneficial to more than half of the world's population.

My Place X provides a system that ALL people can use to pin point their location and residence. The aim of this project is to replace the various forms of the current system with a system that is globally implemented, across nation’s border, in a global uniform address system, something that is long overdue.

The core implementation is blockchain technology, smart-phone technology, access to cellphone communication and the internet. There are various project currently under way to bring the internet and cellphone communication to remote areas in a cost effective and efficient way. With the introduction of digital crypto currencies, payment in a global currency has become trivial.

The basic principle is that users pinpoint the location of their residence in terms of GPS co-ordinates using smart-phone technology. Cellphone connectivity and access to smart-phones, has increased considerably in the past couple of year and will reach near global access in the near future, even in the more remote and poor areas. It is our experience, beyond expectation, that a large number of the poor people in South Africa posses at least one thing, and that is a cellphone.

We have found, from tests, that the average error on GPS co-ordinates is approximately 6 m minimum and can reach up to 20 m. In order to enhance the identification of the residence, the user can include a photo of his residence as well as of passport photo himself. If a street address is available, the better and this information can also be stored.

The system can be extended to include a large number of additional information. Typical information is information required for KYC, Identification Data, Banking details, Next of Kin and a lot more. The system can be integrated with other blockchain system to enhance the usefulness of the system even more.

The system is even suitable for interpreneurs to create services for the users, in the form of crypto currency conversion, GPS co-ordinate pin pointing, issuing of ID cards with crypto keys, Drone Images for areas that have not been mapped, photos of dwellings and users, etc.

Charity organisations and NGO’s can promote the system and bring dignity, an identity and self worth to the people that have been excluded by the more civilised world. It would also provide access to facilities which have been denied to these people for so long. Charities can also distribute crypto currencies for using the system, in exchange for community work and other tasks.

For online shopping companies a new market is opened and together with courier companies and local distribution and postal services, more than half of the worlds population, can be included in the current global economy and uplift the living standards of these people. On the flip-side, products from these people can be collected and distributed to other sectors of the economy.

Come and join us in this endeavour.

Unfortunately nothing is free. Neither is this nor is the postal services for that matter...... Infrastructure must be created, operated and maintained in order to run this system and this is where the business opportunity is. In return for providing this service, the node and server operators receive a fee per transaction. This fee is dependant on the amount of information the user requests to be made available and is paid by the user.

As per our white paper, the user is in full control of the secrecy of his data and what information he would make available. All data on the blockchain is encrypted with the users private key and the user will only provide decryption to the end user of the field he chose. If he so chooses, he can make only a single field available to the end user. The fee, or cost structure, is calculated on the amount of bytes of data to be retrieved and temporary stored. Please note that, in order to promote adoption, initial personal will be free.

The function of the nodes and servers is to retrieve that information from the blockchain, store it on the side chain and return the address of the data on the side chain to the user. All nodes and servers must store a copy of the blockchain, sidechain and all other files required to run the system, even if only single node is available. They also have to process the storage of new data, store additional data on blockchain, e.g. KYC validation, etc. The nodes and servers work in a “Pool of Requests” format and have to process all these requests, schedule and validate all submissions on a scheduled principle. This means ..... basically run the backbone of the system.

There is no mining involved and thus computer equipment is a lot more cost effective. We would prefer it if the nodes and servers are widely distributed across the world in order to improve service reaction time.

All node and server operators will vote on a fee structure on a yearly basis and determine the cost per kbyte. Naturally the fee, or cost of a transaction, has a big influence on the adoption of the My Place X system. 10% of all fees will be stored in a “community” wallet. All node and sever operators will be able to make suggestions on how these funds could be spend. They will then vote and the “community” funds will be spend on that project or not. However, initially focus should be on marketing and adoption increase.

Lets talk some number........... There are approximately 7 billion people on earth. Naturally, we would like to get all on board, but that might only happen over a long time. But lets assume we can get 1 billion people on board. (These numbers are not unrealistic, because Facebook has approximately that amount of users.) Lets assume that each basic transaction costs, in fiat money, $0.10. That would be $ 100 million in income should each user only do one transaction per year.

We believe that this is a good business opportunity or what do you think? Come and join My Place X

More than half of the worlds populations has no physical address. What does that mean for any normal person? For the person that is part of the developed world, having a street address, a suburb, a town or city, a country and a postcode, comes naturally and is taken for granted. He does not even give a daily though to it. It is just accepted as the norm.

However, for those people in the informal sector, rural areas or living in a city in one of those shanty towns, having an address is something which is dearly needed. A person’s residence is that person's castle, a place he is proud off. But having no means of identifying where he lives, denounces his “castle” and places him in the underclass, the forgotten people.

Modern society has so much more to offer than these people even realise. Essential services, such as emergency services, can not be accessed. They do not have access to postal or any other delivery services.

Having no delivery address, they can not enjoy cheap product offers from online shops, e.g. Chinese markets or other Asian markets. Maybe they can not afford the expensive imported product from local suppliers, but they might be able to offord the same products cheaper online?

They certainly have problems applying for bank loans, cellphone purchases, consumer goods credit or any other form of credit, because they can not comply with the requirements of KYC and AML legislation.

When it comes to voting, how do they prove in what suburb or voting district they reside and are allowed to vote? Since voting is one of the core principles of a viable democracy, these people are prevented from taking part in the management of their country. Naturally this also lead to vote rigging and corruption, since these people can be exploited by scruples political parties.

What if they want to run a business? How to they arrange deliveries, How to they gain customers when the customers do not know where to find them. How can they do any effective marketing? How do they even register a business and gain access to financing? How do they operate an import company to sell these products on the local market?

With a global accepted address system, our My Place X project, the dignity of these people can be restored. They can earn recognition from the rest of the population and they can take active part in choosing the right political leaders to represent their interest in governing bodies. They can access basic emergency services. They can access credit. They have access to online shops and cheaper products from Asian countries. They can get the feeling that they are part of something bigger and are not just part of the forgotten people ........

As a Charity Organisation or NGO, you can help spread the word and help with the adoption of the Address system. You can invest indirectly in the system by registering these people on the network. Initial registration of basic personal information on the system is free.

If you are interest you can run a node and server, or pay a separate company to run the software, and physically take part in the project by supporting the required infrastructure in order to provide such a service. You will still receive the income from the transaction fees, but you can redistribute them to users via faucets, hold lotteries, sponsor events, spend it on awareness and promote the system or anything that will benefit the user. The bigger the adoption is the bigger the possibility that the system will be accepted worldwide and thus integrated into existing infrastructure.

Come and join us in making the My Place X project a success, thereby bringing the other half of earth’s population into the 21st century ........

Running a node and server

The My Place X system requires no mining and is based on Distributed Proof of Stake. Therefor the IT infrastructure is not very specialised nor demanding. The objective is not to only have a few select nodes and servers, but to have at least one in each country in the world with multiple nodes in high demand countries.

System adoption ambassadors.

We will be looking for people and organisation in various countries that would go out to these people and promote the My Place X system, thereby increasing adoption. These ambassadors will be paid from our Marketing and Adoption Budget. After we have launched the final Version 2 software and open sourced it, the ambassadors will be paid from the “Public pool funds”.

Supplementary services

The ultimate objective of the project is to change the current address system and become the de-facto global standard. This presents the opportunity for a large number of supplementary services and if you are an interpreneur, the opportunity to create a business, large or small.

The technologies on what this project is based on, are the use of smartphones, GPS coordinates, cellphone networks and Google maps. Payments of the fee is via an existing Cryptocurrency.

On-line merchants

Bringing all the target people online, presents a significant boost in sales opportunity for online merchants. Imagine that you suddenly have access to a pool of clients that is double in size ... wow!

It is our desire that the online merchants join us in our endeavour and make the My Place X system part of their own system. Without our system it will be hard for these merchants to access these new clients.

The online merchants can pay for the transaction fees as part of their marketing campaign and thus draw potential customer to their site.

You can not deny this is a great project with lots of new opportunities.

Come and join the My Place X team and lets make these disadvantaged people part of our global community.

Governments have the responsibility to make all of their citizens inclusive of the nation as a whole. But how can they do it if large parts of their population does not have a physical address, thus denying them basic emergency services, voting rights, access to credit, etc.

There are two causes for the problem, urbanisation and far off rural areas. Developing countries usually do not have the resources to provide housing for all nor are they able to connect every rural dwelling with the road. Unfortunately this is the reality that we live in and we have to find a solution to the problem.

This is where the My Place X project enters.

We have found that even in poor areas, cellphones are widely available and used. That is if there is any connection available. Having a cellphone connection then automatically connects you to the internet. Governments and private companies are rolling out telecommunication networks as far reaching as possible. There is even a project that will float balloons in the air to provide cellphone coverage in very remote areas. With the rapid advancement in technology, it will not take long before the complete is covered.

Government can run their own nodes and servers and thus enhance the quality of service of our network. Having a voting right in terms of fees charged, they can control the cost per kb and thus ensure a cost effective service to the users.

Being part of the My Place X project will also allow them to influence the amount and type of data to be stored on the blockchain. This means they can standardise their internal software and database, and provide additional services, such as voting records, Passport and ID systems, accurate and reliable census information, drivers licences, tax numbers, etc. What the My Place X project does is, give them access to the unknown unrecorded forgotten part of the population and make them part of the national community. By giving them an identity, they give them dignity and a feel of worth ... a feeling of being part of the country.

As an alternative, the Government can elect to outsource the service and subsidise the fees to the user. In many cases the National Postal Services is a governmental owned and run entity. A government, being part of the network, can influence these entities and ensure that the system is adopted by them, a very valuable capability.

As a governmental institute, come and join the My Place X team and eleviate your citizens to become part of your nation.