TRY BLOCKLITE® AND JOIN THE REVOLUTION.
1 BILLION NET COINS FIXED SUPPLY
TRY BLOCKLITE® AND JOIN THE REVOLUTION.
1 BILLION NET COINS FIXED SUPPLY

WhitePaper





Confidential
 

 

 

VEO SHOP/STREAM & BLOCKLITE
TOKENS
Whitepaper v01.03.01
Platform Details & Token Model

 
 
 
 
 
 
 
 
 
 
www.blocklite.org – shop.veo.do [email protected]  –   Issued 02/05/2022
 

 
 
 
I.                          INTRODUCTION

As of February 5th 2022, crypto
currencies worldwide reached a global market cap of
$1,633,522,510,958.00 with a daily volume of approximately $106,001,053,204.00 according to CoinMarketCap and experts agree that it’s only the beginning. Newer, faster and more powerful Blockchains are emerging every month and the concept of cryptocurrency has evolved from a fringe idea to a globally recognized money making opportunity. 
 
Crypto Outlook 2021

Bitcoin reached $1 Trillion
in market capitalization


El Salvador adopted Bitcoin
as legal tender


SEC proposed relaxed rules
for tokens
 
 
Institutional investment of treasuries into cryptocurrencies and cryptocurrency funds has peaked at US$ 71 Billion while traditional payment processors such as PayPal, Visa, and Mastercard have added cryptocurrency products to their offerings. The technology industry publicly expresses support of the sector as evidenced by statements from C-Suite Executives at Twitter, Uber, and Square.
 
Marketplaces & Streaming Outlook 2021

Amazon’s best year
on record


Alibaba declares revenue
of $31 Billions


Global content spending
reaches $220 Billions
 
 
The Online Marketplace and Content Streaming industries are now some of the most powerful sectors of the world global economy. The public has now accepted and assimilated the concepts of online shopping and online streaming. Virtually every house hold in the world is connected to one or both.
 
 AN ENTIRE MARKETPLACE BASED ON CRYPTO

VeoShop is the Dominican Republic’s very first online marketplace that processes payments for vendors. Blocklite Tokens are the official currency for the ecosystem.

As the Dominican Republic economy is named one of the fastest growing in the Americas by the World Bank and its national banks reach the world’s top 100s, the fact that only 55% of adults have access to a bank account or any form of electronic payment clearly stands out.
 
It is also one of the main reasons why no local marketplace currently exists such as amazon, alibaba or ebay in the country. Dominicans how ever have grown fond of ordering on amazon, local rules exempt purchases under 200 dollars from taxes although the cost of courier services makes everything a bit more complicated.
 
The VeoShop online marketplace was created specifically for Blocklite and Dominicans, it’s our version of Amazon. Local product, local vendors, one single marketplace that processes your payments and guarantees delivery, paid from the customer’s balance in Blocklite’s stable coin; BDOP, based on the Dominican Peso. We are the first, the original, the brand name Dominican Amazon. 

 A STREAMING APP BASED ON CRYPTO

VeoStream is the Dominican Republic’s very first streaming app with its own original content. Blocklite Tokens (SOLANA SPL TOKEN) are the official currency for the ecosystem, for both subscription and content creator payments.

Although virtually every household in the Dominican Republic has a Netflix subscription, the few existing streaming services have limited themselves to pay-per-view outdated movies. Local content distributors have decided not to get into streaming by fear of cannibalizing their theater customers. TV limited themselves to live streaming their feed.
 
VeoStream takes advantage of a local government incentive to produce and offer ONLY curated local original quality content for its platform at 0 cost, from various producers ties to the platform by exclusive contracts, supervised by Tristan Desechenes (Veo and Blocklite Founder), award winning producer and director, widely known as one of the leading content producers in Dominican Republic.
 
VeoStream believes in a more humane workplace and fair opportunity. This is why we redistributes 30% of streaming profits to our approved content creating teams (All the way to the cleaning crew). If they were part of making us successful, they should also be successful. All disbursements to creators are made in Blocklite Net Coins.  
 
VeoStream customers can choose between an ad-based free version or a monthly ad-free subscription of only US$1.75. All subscription payments by customers are paid from customer balances in Blocklite’s Solana SPL stable coin BDOP based on the Dominican Peso.
 
II.                THE PROBLEM

Although the public’s willingness to use crypto currency in its day to day operations has been made more than clear and the all-but-instant adoption of services like Door Dash and Uber Eats have allowed us to see the Dominican public is more than ready for a central online marketplace, no one has taken the lead on making it happen. Dominicans still need to travel physically to stores for any novelty item they wish to purchase locally except for food. 

Problems With The Current System

More than 45% of Dominicans
don’t have bank accounts or
credit/debit card


The forums that currently
mascaraed as marketplaces
are dangerous (Craigslist)


Local television has no
TV Series whatsoever, no
sitcoms, verry little shows.

 
Most Dominican sellers are
offline with no way to process
any type of electronic payment

 
Dominican Banks are prohibited
by law to use, issue or hold
crypto currency. 


No Streaming platform exists with local original content for Dominicans
 

Welcome to the Veo Ecosystem and its
                                                     

Blocklite Coin
                                                                                                                       
III.              THE VEO ECOSYSTEM
 
ECOSYSTEM FEATURES
 
Create Store on shop.veo.do – Merchants
Sellers create and customize their own store, load products and sell on the shop.veo.do marketplace.
 
Concierge Service for Priority Vendors
Concierge service offers priority vendors (Nike, Etc) to have stores and inventory managed by Veo Personel.
 
Streaming Service with Original Local Content
Tax incentives allow VeoStream (www.veo.do) to offer quality content ad-based or ad-free with a premium monthly subscription of US$ 1.75.
 
The Blocklite Payment Gateway
Veo processes payments using its proprietary Payment Gateway using customer balances in Blocklite’s Solana SPL stable coin (BDOP) based on the Dominican Peso.
 
Seemless Crypto Integration
Users use Blocklite seamlessly; when topping up, veo automatically purchases Blocklite Net Coin (BTE) on public markets at current rate and swaps it for Stable Blocklite Peso coin (BDOP).
 
Cash Top Up in 30k+ Points Trhoughout the Country
Veo users can buy Blocklite Tokens in cash at 30k+ reload points throughout the country.
 
Instant Withdrawal to Bank for Merchants
The Blocklite wallet allows Dominican merchants to convert their tokens to fiat in their bank account any time, instantly.
 
WooCommerce Plugin
The Blocklite Payment Gateway is also available as a WooCommerce plugin, allowing any business in the Dominican Republic to take advantage of our network.
 
OPERATING MARKETS

VeoShop and Blocklite’s primary market will be Dominican Republic. It is the market dominated by its founder who controls over 60% of all stars, influencers, publications and tv shows. The aforementioned tax incentives and the fact that the Dominican Republic Central Bank has reaffirmed it does not consider crypto as either legal tender or securities and that trading in crypto is permitted at the user’s own risk also make it the ideal playground to start this journey. 

 TECHNOLOGY AND SECURITY  
 
Veo, Blocklite and their Payment Gateway are powered by The Blocklite Chain.
 
We leverage the power and speed of investors and fintech’s favorite; The Blocklite Chain for our Blocklite Net Coin, Blocklite Stable Dominican Peso Coin and Blocklite Gateway/Wallet guaranteeing investors and users a transparent and robust decentralized ledger. 
 
TECH STACK
 
Blocklite Tech Stack
 
Ruby on Rails BE
Ruby on Rails Back End REST Services
Managed Secured Transactional Backend
Hardened and secured managed hosting
MySQL Managed Clusters
Robust transactional capacity supported by Solana
 
Blocklite Security
 
KYC (Know Your Customer)
AES Excryption
Anti CSRF Token
XSS Clean
Secured HTTP Headers
Managed Email Encryption and Transport Protocols
 
Solana Tech Stack
 
Google Tag Management, Segment, Heap, Google Analytics, Mixpanel
Hosting on Amazon EC2, Heroku, Nginx
Stack Overflow
Google reCaptcha
Grow Surf, Gastsby, Dyn, Vercel, Typeform
Amazon S3
Github, Webpack, Git
Node.js, Mark Down, C++, Rust, Solidity
React, Preact, Lodash libraries
Sentry Monitoring
 
General Security
 
Our security is supervised by Juan Matos, ISO 90027 auditor certifier. Juan Matos supervises airport, bank, police and government cyber security. He is a police general and published author.
 
MARKETING STRATEGY (TRISTAN DESECHENES)
  
THE FOUNDER AND VISIONARY OF BLOCKLITE/ VEO (TRISTAN DESECHENES

Tristan Desechenes is a Canadian born business man dedicated to entertainment, communications, media and technology in the Dominican Republic. He is mainly known for his entertainment companies NYLA Media Group, Pro Capital Film Studios and Desetech Systems, which together manage productions such as The Voice Dominicana, Rambo Last Blood, American Cherry, Buscandole Un Novio A Mama, Up North, La Ultima Esposa, Lemonade and many more.
 
Mr Desechenes also commands a giant network of media, written press and influencers in the Dominican Republic and latin-america/spain. To that effect, his company Scenario Models Agency, in collaboration with tiktok brazil manages Dominican Republic’s hype houses where tiktokers meat to Grow their fan base. He uses that network for marketing of his projects which has allowed him to land No. 1 ratings and trends on every launch and will make Blocklite a global success.
 
Mr Desechenes also owns the code to the Wyse Engine, a powerful crypto trades and fiduciary software.
 
MARKETING STRATEGY (VEO)
Veo Shop/Stream’s Marketing Strategy is an all-round full media assault for 5 months.
 
I.            Social Media
Organic promo by all of our talents, Dominican Republic’s music and tv stars, influencers, artists and magazine publications.
II.            Outdoor Billboards
Outdoor billboards, small and large will be included. Veo/Blocklite will cover the entire country in strategic points.
III.            TV and Digital
Official sponsor of The Voice Dominicana and all shows/movies presented on VeoStream. A google / facebook / Spotify ad campaign will also be in effect.
IV.            Grass Roots
Teams of young promoters will encourage people on the street to download and try the app.
 
MARKETING STRATEGY (BLOCKLITE NET TOKEN)
Our strategic partnership with Applicature will play a crucial role throughout the current and future marketing phases of the Blocklite Net Coin to the crypto world. We will leverage their marketing arm’s executive ability knowledge to drive brand equity and engagement from crypto fans around the world.
  
MARKET SEGMENTATION
Blocklite/Veo’s project is extremely ambitious and aims to become a household name in the Dominican Republic. We pretend to be the Dominican version of Amazon, with payments entirely based on Blocklite crypto with our proprietary payment gateway and cash top up at over 30,000 sites nationwide. Our platforms are aimed at all Dominicans, young, old, with enough diversified video content and physical products to ensure no one is left behind and that the platform is appealing to EVERYONE. 46% of Dominicans are unbanked, with no access to any digital payment. Blocklite will be a first since banks are prohibited from dealing with crypto and hefty minimum balance rules.
Tristan Desechenes has a huge marketing and influencers network (over 500 influencers whom together generate more than 500 million plays weekly on social networks, 20 national news papers and a media tour of more than 150 radio and tv show partners, that is considered the most complete in the country and is used by him and many others such as Red Bull, Pepsi Co, Frito Lays, Kola Real, TCL, Huawei, Ciclon, Caribbean Cinemas, LAM, Generade and many more, his experience is what guarantees the success of this launch and over 2 million users by the end of Q2, 2023.

Dominicans 13-25 (Gen Z)
Gen Z lives in Tiktok and is prone to online shopping. We control Tiktok. Our influencers will make Veo the official site for video/shopping and we expect to onboard close to 30%-40% of Gen Z in the Dominican Republic within year 1. This is based on our usual results with main brands.

Dominicans 26-39 (Millennials)
Millenials will be reached through our VeoStream TV programming and by ensuring our shopping marketplace ecosystem has everything they may need. They will require more evangelization which will be done through TV and Written press presence. We expect to onboard 20% year 1.

Dominicans 40-65
Mature Adults will be reached through our VeoStream TV programming and by ensuring our shopping marketplace ecosystem has everything they may need. We will also target this generation with our referral program with the previous 2 generations. We expect to onboard 15% year 1.
 
ROADMAP
 
THE BLOCKLITE FAMILY OF COINS

TRANSACTIONAL COINS

THE BLOCKLITE DOMINICAN PESO (STABLE COIN)
The Blocklite Dominican Peso (Stable Coin) is a B-Crypt Token, 1 to 1 asset backed and used on the VEO ecosystem and the Blocklite WooCommerce Plugin. It can only be purchased using Blocklite Net Coin (BTE) which is done seamlessly at top up by the system which purchases the Blocklite Net Coins (BTE) on the open market and swaps it to Blocklite Dominican Peso (Stable Coin) in the customer’s wallet, guaranteeing constant offer and demand for the Net Coin.
 
THE BLOCKLITE NOVELTY COINS (STABLE COINS)
The Blocklite Novelty Coins are B-Crypt Tokens that can be minted in seconds by anyone with a simple 3 click process from your Blocklite X Wallet. Create your coin and name it, then click-select one, all or multiple vendors you wish to accept your coin, from our comprehensive list of vendors who accept Blocklite. This will allow mothers to give their kids money they can only use in specific stores, lenders to provide funds that can only be used with specific vendors. The creator of a Blocklite Novelty Coin can set a special transaction fee of their choice to move their coins, 50% of the special transaction fee will be forwarded in real time to the token creator account every time this coin moves.
 
THE BLOCKLITE NET COIN (BTE) & ITS TOKENOMICS

THE BLOCKLITE NET COIN (BTE)

The Blocklite Net Coin (BTE) is the exclusive utility token of the VEO/Payport ecosystems and the Blocklite WooCommerce Plugin. BDOP and all Novelty Blocklite Coins must be bought with BTE. When a vendor or wallet user wishes to withdraw to fiat or crypto, their transactional balance is swapped to BTE and then exchanged for either Fiat or Crypto (BTC, USDT or ETH). For Veo and Payport users, this swap is done seamlessly by the system in the background generating huge, constant offer and demand for the BTE coin. Its value is related to the growth of the system’s cash flow (Demand) and the amount of coins available for purchase at any given time (Offer).

TECHNICAL DETAILS
Name: Blocklite Net Coin               Symbol: BTE
Decimals: 18                                   Total Supply: 10,000,000 (10M Tokens)

TECHNOLOGY
The Blocklite Net Coin (BTE) is a Blocklite B-Crypt Token www.blocklite.org/bcrypt , Blocklite’s community audited token protocol that is used with the Blocklite X Wallet or Veo Simplified Wallet, but can be bridged at any time to the Binance or Ethereum chains if the user desires, making it possible for anyone to hold their BTE in multiple wallets such as Metamask and/or Math Wallets.
 
 
BLOCKLITE NET COIN (BTE) TOKENOMICS
Total Coin Supply        10,000,000.00            
         
                                      Tokens                 Price/Token        Total Raise          TGE             Monthly     Lokin
Angel Around               150,000          $1.20                   $180,000.00       4%              4%              No
Seed Round                  650,000          $1.50                   $975,000.00       4%              6%              No
Post Seed Round         200,000          $2.00                    $400,000.00     4%              8%              No
Pre-IDO Round            150,000          $2.50                   $375,000.00       4%              10%            No
IDO 1 Public Round     350,000          $3.00                   $1,050,000.00    25%            25%            No
IDOs Public Listings     700,000      Market Established                        30%            7%              No
Liquidity                        2,300,000      Market Established                         Only released if needed
Marketing                     2,300,000      Market Established                         0%              3%              6 Months
Operations & Dev        250,000      Market Established                         0%              2%              6 Months
Advisory                       800,000      Market Established                         0%              5%              1 Month
Team Reserve               1,400,000       Market Established                         0%              5%              6 Months
Foundation Reserve     750,000       Market Established                         0%              5%              6 Months

REDISTRIBUTION OF FEES TO HOLDERS (ALL TOKENS)
Our VeoShopping and VeoStream platforms use the Blocklite Payment Gateway which charges a processing fee to vendors (4% – Dominican Standard for Visa and MC). The X Wallet charges a transfer fee between users (0.2% to a maximum of US$1.00) while the tokens are On-Chain (On the Blocklite Chain)

Half of all these fees are redistributed between coin holders in real time prorated to how much coins they hold versus how much coins are in the system at a given moment. This means that Blocklite Coin holders make money on holding Blocklite coins, even Blocklite stable coins (Applies to Off-Chain tokens also, Off-Chain Tokens receive their profit shares daily). This redistribution is system wide, meaning that this happens regardless of whether you hold Net Coin, Stable Coin or Novelty Coin.

INVESTOR OFFERING SCHEDULE

April 2022           Stage 1                Private Sale Round
At the commencement of the private sale, the Blocklite Net Coin (BTE) token is offered at USD$1.50, and exclusively to early stage private investors.

June 2022           Stage 2                Seed & Pre-IDO Funding Round
From May 2022 and until IDO of the Blocklite Net Coin (BTE) in December 2022, 3 additional rounds of the Blocklite Net Coin (BTE) token sales will occur, which will allow Blocklite to fund its customer acquisitions, development, operations, marketing and other business activities.
 
December 2022           Stage 3                Public Trading / IDO Round
Upon the Blocklite Net Coin (BTE) launch, the tokens will be made available for public trading via the Blocklite X Wallet, the CryptoXpress Exchange app and various other secondary markets, including on DEXs and CEXs.

VALUE AND BUYBACK PLAN
The total supply of Blocklite Net Coin (BTE) tokens will never exceed 10 million tokens and over the lifetime of the project Blocklite will repurchase Blocklite Net Coin (BTE) tokens from the public markets and burn them in order to maximize the token’s value through the reduction of its available supply.
The company will continuously buyback tokens on a monthly basis until 20% of the tokens have been repurchased and burnt. This process is expected to take some 48 months.
  
WHAT’S DIFFERENT WITH THE BLOCKLITE FAMILY OF COINS?
 
LIGHTNING FAST AND CHEAP
Since Blocklite Coins are minted on the Blocklite Chain, transactions are instantaneous and cheap, as opposed to traditional crypto.

BRIDGE TO BINANCE
Since some investors may have reservations with the Blocklite Chain at first, all Blocklite Tokens are fully bridgeable to the Binance Blockchain.

INTRINSIC VALUE DICTATED BY A REAL MARKET
The Blocklite Family of coins are the sole currency accepted on the VeoStream / VeoShop platforms and Payport’s Telecom Trading and Fiduciary Services Platform. As all 3 are expected to become market leaders by end of 2022, they will automatically create real intrinsic demand for the coins.

REDISTRIBUTION OF FEES TO HOLDERS (ALL TOKENS)
Our VeoShopping and VeoStream platforms use the Blocklite Payment Gateway which charges a processing fee to vendors (4% – Dominican Standard for Visa and MC). The X Wallet charges a transfer fee between users (0.2% to a maximum of US$1.00) while the tokens are On-Chain (On the Blocklite Chain)

Half of all these fees are redistributed between coin holders in real time prorated to how much coins they hold versus how much coins are in the system at a given moment. This means that Blocklite Coin holders make money on holding Blocklite coins, even Blocklite stable coins (Applies to Off-Chain tokens also, Off-Chain Tokens receive their profit shares daily). This redistribution is system wide, meaning that this happens regardless of whether you hold Net Coin, Stable Coin or Novelty Coin.

INSTANT CONVERSION TO FIAT ON STABLE COINS
Blocklite Dominican Peso (Stable Coin) and Novelty Coins (Stable Coin) are instantly convertible to fiat from your Blocklite X Wallet, 100% free of charge to any Dominican Republic bank account or for a $50.00 fee to any bank in the world. Receive funds and withdraw to your bank in seconds. This makes Blocklite the fastest payment processor around.

30,000 TOP UP LOCATIONS AND GROWING
Blocklite counts with 30,000 top up locations throughout the Dominican Republic, New York, Massachussets, Connecticut and Spain, allowing for instant reload from cash.

MASSIVE LIQUIDITY POOLS
Blocklite will use its IDO funds as follows:
–         20% for Marketing and Customer Acquisition
–         10% for Admin and General Expenses
–         35% for USDT LIQUIDITY POOL
–         35% for FIAT DOMINICAN PESOS LIQUIDITY POOL
This means 70% of the IDO raise and divestment will remain in liquidity pools at all times to guarantee the Blocklite Net Coin is ALWAYS swappable for USDT, BTC or ETH and that the Stable Coins are always convertible to fiat Dominican Pesos, instantly, to their bank account anywhere in the world, any day of the week.
 
WEEKLY AUDIT OF THE LIQUIDITY POOLS
FIdemDD, an AICPA registered CPA firm will audit the liquidity pools weekly and issue a sealed report published to theirs and our social networks in collaboration, ensuring investors’ money is always where it should be.

PROPRIETARY API
Our proprietary API allows users to manage their Tokens on The Blocklite Chain through our simple API for automation.

WHATSAPP PAYMENTS
Easily transfer tokens to any Blocklite X Wallet user through a simple whatsapp message.

QR CODE PAYMENTS
Easily transfer tokens to any Blocklite X Wallet user through a simple QR code scan.
 
LICENSING AND REGULATIONS
 
Europe and Worldwide
The Blocklite Family of coins is fully licensed through our partnership with CryptoXpress under their Estonian Crypto License covering every non-us country other than China and certain minor negligible markets.
 
United States
The coins can be purchased legally by any American using XXXXX’s Instant Crypto Trust technology but we cannot massively advertise the Coins to the US public yet. 
 
THE TEAM

Tristan Desechenes/CEO: President of NYLA Media Group (Rambo Last Blood), Pro Capital Film Studios (The Voice Dominicana, The Men In My Life, Etc) and SMA to only mention a few, Mr. Desechenes is widely recognized for reenergizing the Dominican Republic’s content production industry.

Fernando Ramirez/Chief Legal: As a lawyer, career diplomat and former 100 meters pre‐Olympic and European champion, Fernando brings a wealth of connections and true understanding of the Dominican system, both from the legal and political point of view which has proven invaluable for the company. His presence on the board assures our investors full transparency and legal ethics when it comes the project.

Alfredo Patnella/Chief Technical: With a Masters in business management and processes and two Bachelors in computer science and technology quality control and high level experience with some of the Dominican Republic’s most difficult customers, Banco ADOPEM, BHD Leon, Hospira, etc.., Alfredo oversees our operations and their implementations on a technical level.

Juan Matos/Chief Security: As the chief information security officer of the Dominican Tax Authority, a professor of both the Dominican Institute of Technology and the National Technology University, the technical supervisor of the Dominican aviation institute and the main technical crimes division analyst trainer and the sole Dominican Cisco instructor and ISO 90027 auditor for system penetration, Juan guarantees our APP’s security at all times.

Remphsy DeLeon/CFO: As an AICPA registered certified public accountant and current founder and auditing partner of FidemDD Asesoria Financiera, a prestigious Dominican firm, Remphsy has worked as an auditor for firms such as KPMG, Madera Soriano and Deloitte and brings an unmatchable level of credibility to the project. He is in charge of establishing our accounting principles and processes, supervising our accounting on a day to day basis and overseeing our weekly audits.

Eligio Reyes/Social Media
Eligio Reyes is our social network manager he coordinates all of our influencers and multiple communications platforms.

Mariu Medios/PR
Mariu Medios is our Public Relations manager, she writes and publishes our press releases and maintains coherence is our line of communications. Mariu manages PR for brands like The Voice, Master Chef and more.

Yogesh Patel/Consultant
CEO of CryptoXpress, Yogesh has a consulting contract with Blocklite as part of our licensing agreement with CryptoXpress. His knowledge gathered through CX’s successful USD$2MM+ IDO is invaluable and is the key to Blocklite’s success as well.

Randall Johnson/Legal Consultant
Securities Lawyer from Atlanta Georgia, Randall has written crypto laws in 5 countries and launched multiple IPOs, ICOs and IDOs. As far as the Blocklite project is concerned, Randall consults on all crypto related legal matters.
 
THE BLOCKLITE CHAIN

WHAT IS BLOCKLITE?
Blocklite is what everyone has been waiting for, commercial grade crypto ready for retail business. Blocklite has been through almost 3 years of successful beta testing before launch, supporting Payport’s and other trade platforms.

WHAT IS THE BLOCKLITE CHAIN?
The Blocklite Chain is exactly what its name entails; a lite version of Blockchain. Its super secure, and lightning fast, without mentioning that it is SUPER CHEAP to use. Blocklite uses its proprietary centralized engine to calculate and hash transaction before submitting to a community of nodes that verify and approve the entry to the public ledger.

WHAT IS THE BLOCKLITE API
The Blocklite API is Blocklite’s door to the world. Wallets and Nodes interact with the ledger through the Blocklite API. In order to interact with the API without using a partner wallet, users must have an account created and hold a minimum balance of USD$100.00 in the account.

WHAT IS A HASH ENGINE?
The hash engine is a software that takes account and transaction numbers and converts them into equal length encrypted alphanumerical serial numbers making it possible to post Blocklite’s entire ledger online without revealing anyone’s personal information, allowing users and nodes to audit the ledger in real time, always for pure and true transparency. For sake of respect for the Blockchain industry and the fact that Blocklite is partially centralized, Blocklite calls its Hashes, Linx. Blocklite Linx are 16 digits long with AES 512 bits encryption (Twice the requirement for Millitary Grade).

WHAT ARE BLIOCKLITE NODES?
The nodes verify that each have the same last transaction, initial transaction, verify 10 random transactions across the ledger and 3 sequences of 20 transactions and their positions in the ledger. This allows Blocklite to function at previously impossible speeds, consistently. Anyone can host a node as long as their wallet holds at least USD$100.00 in Blocklite Net Coin (BTE), at which point our API will recognize its private key as authorized to verify the ledger in real time.

NODE TYPES AND THEIR EFFECTS ON CONFIRMATION SPEED
Blocklite is the first Chain to allow its users to choose the level of security they wish to have on their account and therefore how fast they want their transactions to be confirmed (All Blocklite accounts are extremely safe and have NEVER been compromised, the further decentralization option is only available to give further guarantee to the user and a truly transparent experience for those who desire it). At account creation and anytime thereafter, the Blocklite Chain user is able to decide how many confirmations are required and from what type of nodes they must be, to enter a transaction to the public ledger.

NODE TYPES
The Blocklite Chain is community audited by 3 types of Nodes, Blocklite On-Net Nodes, Blocklite Off-Net Nodes and Community Off-Net Nodes. When creating a Blocklite account, you will be required to decide how many confirmations are required and from what type of nodes they must be, to enter a transaction to the public ledger. You may choose one type or combine different types, depending on the level of guarantee vs speed that suit your needs. You can also create your own Community Off-Net Node and require that all transactions with your account MUST be confirmed by your own node, giving you the ultimate level of security (**Note that this can cause your transactions to fail if you are not online but also guaranteed no one can move your tokens if your node is not active). A minimum of 3 Blocklite Hosted Nodes is mandatory on all Accounts.

BLOCKLITE OPERATED NODES
Blocklite manages its own network of hundreds of nodes, hosted on quality, robust, mega-servers hosted in specialized data centers around the world, with guaranteed bandwidth speed and full redundancy. They are managed, safe and extremely fast. The Blocklite system creates and kills nodes regularly making it impossible for anyone to identify and hack a Blocklite node in time. A minimum of 3 Blocklite Hosted Nodes is mandatory on all Accounts.

BLOCKLITE ON-NET NODES
Blocklite On-Net Nodes are hosted are hosted by Blocklite on the same network as the public ledger. They are 100% safe and behind massive amounts of security but some specialized and sophisticated Blockchain savvy users may see the On-Net feature as a weakness. Choosing to use only Blocklite Nodes will guarantee processing times of less than 1 seconds always with a guarantee of 0 transactions failing. A minimum of 3 Blocklite Hosted Nodes is mandatory on all Accounts.

BLOCKLITE OFF-NET NODES
Blocklite OFF-Net Nodes are hosted by Blocklite but on a different network all together and by a different hosting company than the public ledger. They are 100% safe and behind massive amounts of security but a little bit slower than On-Net Nodes for packet travel speeds. Although Off-Net Nodes offer more guarantee than On-Net Nodes, some specialized and sophisticated Blockchain savvy users may see the mere fact that Blocklite hosts these Nodes as a weakness. Choosing to use only Blocklite Nodes will guarantee processing times of less than 2 seconds always with a guarantee of 0 transactions failing. A minimum of 3 Blocklite Hosted Nodes is mandatory on all Accounts.

COMMUNITY OFF-NET NODES
Community OFF-Net Nodes are hosted by Blocklite users on their own network and at their own expense. Community Nodes can run on our open source software or users can develop their own node software for maximum transparency. A VirtualBox image can be restored very easily in any mac or pc computer for retail users to run their own node. Community Off-Net Nodes are less predictable than Blocklite Hosted Nodes and the time that is required to confirm transactions may be slower, it is relative to your node’s bandwidth and server speed. Each Community Off-Net Node must use a different Blocklite account’s public and private keys. Only one channel per node is permitted. A minimum of 3 Blocklite Hosted Nodes is mandatory on all Accounts.
 
THE FUTURE

NFTs
The future is bright for Blocklite. The company will soon be implementing the greatest NFT platform ever (2022 Q4) using its Novelty Coin system, including its Multi-Private-Key system (Multiple private keys have to be entered to transfer the token, very useful for title and/or will applications). The Blocklite NFT platform will be the sole NFT issuer (Lifetime Contract) of Tristan Desechenes and Nicholas Longano’s Dominican Gamers League, soon to launch (09-25-2022) and expected to expand to become the World Gamers League by 2023. The company’s full media apparatus will be out in force to promote this new feature.

THE BLOCKLITE REGISTER
From Q3 2022, Blocklite users who pretend to sell on Veo or use the Blocklite Plugin on their woocommerce sites and would like to be listed on our worldwide register of vendors, will have an option to do so after KYC procedures to authenticate them. This will allow novelty token creators to search for the specific vendors they wish their tokens to be accepted in a simple search box, such as super markets, pharmacies, clothing stores, etc. Vendors will be able to easily create crypto coupons for their stores, instantly, customized to their clients. Parents will be able to choose where they want their kids to be able to spend their allowance with just a few taps on their phone. Lenders will be able to create loans that can only be used to pay specific vendors (Ideal for factoring or working capital loans and for budget specific projects). A corporate customer could for example create a variety of coins, one for each line item in their budget, limiting the employee’s in control of the wallet in their capacity to steal the funds.
 
DEBIT CARDS
Through our contractual relationship with CryptoXpress, Blocklite users will be able to apply for a brand name debit card accepted worldwide and spend directly from their Blocklite balances. This is expected to be implemented by Q4 2022.

EXPANSION
Blocklite and the Veo ecosystem were built with expansion in mind. Our current licensing allows us to install Veo in the majority of major markets, including Europe, Canada, the US and many more. A simple initial push on listings with concierge service at its roots and a brand new market is opened up in a matter of months. Dominican Republic is a simple environment to build the business and get started, it is the smallest population country we will encounter on the way. The future is bright, come on board!

EXIT STRATEGY
Blocklite expects to either sell to a larger private entity or go public on the New York Stock Exchange through reverse merger by 2025. There are no limits for this project, we have come to take over the world of payments and NFTs.