The White Paper
Version 5.0 (24 September 2023)
Commercio.network is a public permissionless eIDAS compliant blockchain born and raised in the EU. The network started operating as a NON PROFIT CONSORTIUM but recently PIVOTED to a Commercial venture becoming a INC (Società per Azioni) Its 90+ members include leading European IT companies, Qualified Trust Service Providers and TSPs.
Commercio.network enables companies worldwide to perform two things:
- DIGITAL TRANSFORMATION: create SSI identities, electronically sign, exchange and archive documents.
- ASSET TOKENIZATION: KYC/AML , SEPA payments, Issue Utility, ART and NFT Tokens , Exchange them on a DEX
Commercio.network was created with the aim of supporting companies in their own process of digital transformation and later Asset Tokenization through a growing library of ready made smart Contracts and solutions for all business problems by offering a public permissionless blockchain 100% focused on enterprise applications.
Commerc.io srl starts developing the Digital Transformation Blockchain testnet and raises close to $1 million with 25 Co-Founders.
The Commercio Consortium Non Profit is founded; the Commercio.network test-net 0.5 starts with 4 Nodes ; Commerc.io srl Selected among 118 start-ups participating in Block.IS, a European acceleration programme.
The Commercio Consortium Non Profit launches the blockchain Commercio.network main-net 1.0 starts with 36 Nodes; Var group , Namirial SpA and Corvallis (Infocert) along with other IT software companies with a focus on digital transformation.
The Commercio Consortium Non Profit grows the blockchain Commercio.network main-net 2.0 starts to 48 Nodes ; Zucchetti and INAZ and enter. Commerc.io srl releases Commercio.app Digital Transformation API for Commercio Consortium Non Profit. At the end of the year Commerc.io srl PIVOTS from being an “in-house” Software development company for the Non Profit consortium only and switch its focus on Asset Tokenization to outside customers. Commerc.io srl becomes Commercio.network S.p.A.
Having reached it ojective to launch a blockchain, The Commercio Consortium Non Profit is dissolved and all its shareholders becomes Commercio.network S.p.A. shareholders. Commercio.network S.p.A in one year doubles the main-net to to 96 Nodes At the end of the year finally Commercio.network S.p.A FINALLY Launches Commercio.network main-net 3.0. with the of 4 Asset Tokenization new protocols KYC, PAY, MINT and DEX and is open to business
Commercio.network S.p.A. after completing the network, and following the approval of the MICA regulation regulating virtual assets in the EU market in MAY 2023 starts its GO-TO-MARKET phase starting with education with 4 parallel training initiatives reaching thousands of prospect companies in the European union.
COMMERCIO NETWORK FEATURES , ADVANTAGES AND BENEFITS
Commercio.network was initially Focused on DIGITAL TRANSFORMATION (Create identities, sign, exchange and archive documents) following the Commercio Consortium NON PROFIT mandate , but recently PIVOTED to focus on ASSET TOKENIZATION (KYC/AML , SEPA payments, issue Utility ART and NFT Tokens , Exchange them on a DEX) focus.
The DIGITAL TRANSFORMATION stack is essential for enabling the ASSET tokenization stack because the foundational infrastructure required for Asset Tokenization necessitates a robust, secure, and legally compliant digital identity and document management system. By establishing a unique digital identity, companies can confidently transact and interact within a blockchain environment, ensuring the authenticity and integrity of the entities involved.
- Secure SSI Digital Identities: Commercio.network’s blockchain self-sovergn Identity infrastructure provides a secure environment for creating and managing digital identities, making it a trustworthy platform for Asset Tokenization.
- Legally Compliant Document Exchange: With eIDAS compliance, Commercio.network ensures that all document exchanges on its platform meet the legal standards required within the European Union, thereby promoting a conducive environment for digital transactions and asset tokenization.
- Smart Contract Library: A comprehensive library of ready-made smart contracts facilitates the smooth execution of asset tokenization processes, reducing the technical barriers for companies looking to tokenize their assets.
- Open Source and Permissionless Architecture: Being 100% open source and permissionless, Commercio.network encourages innovation and inclusivity, allowing for a wide range of enterprise applications to be developed and deployed.
- Ease of Adoption: Companies looking to embark on digital transformation and asset tokenization journeys will find Commercio.network a user-friendly and accessible platform. The ready-made solutions and smart contracts significantly lower the entry barriers.
- Reduced Operational Costs: By automating various processes through smart contracts and facilitating digital document exchanges, companies can significantly reduce operational costs.
- Enhanced Security and Transparency: The blockchain technology underpinning Commercio.network ensures a high level of security and transparency, which is crucial for asset tokenization and digital transactions.
- Legal Compliance: Operating within a legally compliant framework reduces the risks associated with digital transformation and asset tokenization, ensuring that all activities on the platform are in line with regulatory requirements.
- Market Reach: With its focus on informational marketing initiatives, Commercio.network is poised to reach thousands of companies, creating a large ecosystem of potential collaborators and customers.
- Innovative Revenue Streams: Asset Tokenization opens up new avenues for revenue generation by allowing companies to tokenize and monetize their assets, including art and NFTs.
- Enhanced Trust: The trust engendered by a secure and legally compliant platform will attract more enterprises to Commercio.network, further enriching the ecosystem and creating more opportunities for collaboration and innovation.
- Accelerated Digital Transformation: By offering a one-stop solution for digital transformation and asset tokenization, Commercio.network accelerates the digital transformation journey of companies, allowing them to quickly adapt to the evolving digital economy.
In conclusion, Commercio.network’s pivot to focus on Asset Tokenization, while building upon its Digital Transformation stack, positions it as a holistic solution for enterprises in their digital journey. The integration of secure digital identities, legal compliance, and a comprehensive smart contract library provides a solid foundation for companies to explore innovative business models and revenue streams in the emerging digital economy.
Our Competitors are second generation Blockchains and their Layer2 add-on, like Ethereum, Polygon and Algorand.
We have 8 substantial competitive advantages over second-generation blockchains and their add-ons:
- Scalable Blockchain We can scale. Commercio.network can handle millions of transactions, serving rapidly growing companies.
- Affortable Blockchain One simple transaction price: a few cents. We are currently the most cost-effective blockchain in the world.
- Sustainable Blockchain We consume in one year what the Bitcoin blockchain consumes in one second. We use a PoS, Earth-friendly Cosmos consensus.
- Instant Blockchain We have a consensus algorithm that certifies blocks in 5 seconds, unlike the probabilistic algorithms used by Bitcoin and Ethereum.
- Interoperable Blockchain We use an IBC interconnection protocol, allowing us to transfer tokens between all Cosmos chains and Ethereum.
- Redundant Blockchain We have built a network of 100 validator nodes run by companies certified with a KYC/AML process that guarantees 100x redundancy.
- Compliant Utility Token We have submitted an inquiry to the Revenue Agency regarding the VAT treatment of our utility token, which is defined as a generic supply of services.
- Legally Binding Blockchain Our blockchain follows eIDAS directives,making transactions legally binding between the participants of our network.
COMMERCIO.NETWOK $16 Trilion MARKET BY 2030
Commercio.network’s potential to become a significant player in the $16 trillion asset tokenization industry by 2030 lies in addressing the prevailing challenges of asset illiquidity and traditional asset fractionalization while leveraging blockchain technology. Here’s a summarized evaluation based on the provided data:
- Addressing Illiquidity:
- Commercio.network’s platform facilitates the tokenization of a variety of illiquid assets such as real estate, art, and private equity, among others. By converting these assets into tradable tokens on a blockchain, it addresses the core issues of illiquidity, making these assets accessible to a wider range of investors.
- The platform’s ability to fractionalize high-value assets addresses the issue of high ticket sizes, allowing for smaller investments and thus, broader participation.
- Overcoming Traditional Fractionalization Limitations:
- Unlike traditional asset fractionalization methods like REITs and ETFs, Commercio.network’s blockchain-based tokenization doesn’t confine itself to public markets alone but extends to private markets as well, which are often seen as manual, slow, and opaque.
- The platform can streamline the process of capital matching to investment opportunities, potentially offering a more efficient, cost-effective, and enhanced user experience compared to traditional methods.
- Technological Innovation:
- Commercio.network offers a scalable technological solution to unlock liquidity in illiquid assets, which is a fundamental need for asset tokenization.
- Its library of ready-made smart contracts and secure digital identities create a conducive environment for both individual and institutional investors to partake in asset tokenization, while also ensuring legal compliance and trust.
- Regulatory Compliance and Legal Framework:
- Being a legally binding eIDAS compliant blockchain within the European Union, Commercio.network has a favorable positioning to navigate regulatory hurdles that typically accompany asset tokenization and investment.
- This legal framework could potentially facilitate smoother custody transfer of assets and foreign investments in restrictive geographies, making Commercio.network a reliable platform for global asset tokenization.
- Market Education and Outreach:
- Through its informational marketing initiatives like BlockchainWorkshop.it, AmlWorkshop.it, TokenWorkshop.it, and NftWorkshop.it, Commercio.network is reaching out to thousands of companies, educating the market, and creating awareness about asset tokenization, which is crucial for widespread adoption.
- Open Source and Permissionless Architecture:
- The open-source nature of Commercio.network encourages innovation and inclusivity, which are critical for evolving with the industry’s needs and fostering a large ecosystem of developers, investors, and enterprises.
By addressing the market needs for asset liquidity, overcoming traditional fractionalization limitations, and leveraging technological innovation within a robust legal framework, Commercio.network is well-positioned to tap into the burgeoning asset tokenization market estimated to reach $16 trillion by 2030.
Commercio.network has two types of native tokens issued by the protocol:
- Commercio Token (COM) is a Fungible Utility Token that can be used on Commercio.network and is Blockchain’s fuel with a value that will be determined by the market.
- Commercio Cash Credits (CCC) is a fungible Fee Coin usable on Commercio.network. It is a token sold at 1 €+vat and can be used by companies to purchase services on the network
We describe in detail the two native tokens:
Commercio.network has its own native crypto currency called Commercio Token with an issue limited to 60 million units.
- Commercio Token is a Utility Token of a sovereign Blockchain, has as Symbol COM, with value determined by the market.
- The currency is divisible in millionths (6 decimals) and this fraction of token is called uCommercio (pronounced miu Commercio) This utility token may be freely exchanged for fiat currency or any CEX or DEX that lists it.
- The main purpose of the Token will be to be a unit of value that can be placed on stake to secure the network of Commercio.network.
- The Token, with a minimum quantity of 50,000 units and for a minimum period of 21 days, if put in Stake by a validator node allows accumulating other Tokens through two mechanisms of Reward: Validation fees(FEE) and Validation Block rewards (VBR).
- Validation Fee (FEE) are commissions that are issued by the system to those who perform the work of validating transactions during the consent process. The commissions collected during each block are distributed EQUALLY among the Validator Nodes that have validators for these transactions.
- Validation Block rewards (VBR) is a mechanism that distributes a reserve of 12.5 million tokens that are distributed to all validator nodes for each Validated Block, regardless of the number of transactions contained in it. These rewards are PROPORTIONALLY distributed among the Validator Nodes according to the number of tokens they have staked.
- If the validator node is not active, does not participate in the voting or does not behave honestly validating two transactions, it will suffer progressive losses of its stake assets according to the rules (Slashing Conditions) established by the consent protocol.
The Blockchain Commercio.network has a second native token called Commercio Cash Credits (CCC) which can be used to make transactions on the Blockchain. The cost of a transaction is defined in CCC and initially is quantified in 0.01 .
- CCC Commercio Cash Credits are unlimited and are generated on Commercio.network by providing Commercio Tokens in exchange.
- The Commercio Cash Credits is a Fee Coin because it has the objective of be used only for transactions
- 1 Commercio Cash Credits is currently sold a 1€+vat
- CCCs were created to make life easier for companies that do not want to face exchange rate risk or do not want to hold floating value cryptocurrencies for business reasons.
- If a company, for example, sends a document to one of its customers, it will spend 0.01 CCC to transfer a document
- Commercio Cash Credits can be used ONLY on Commercio.network and are considered a Value unit for on -chain transactions. No Other CCC Use is Permitted.
- When a company uses a Commercio Cash Credits the Validating Nodes will accept them as an alternative payment to the Tokens
- A company may be able to use the Blockchain Commercio.network without ever having to buy Tokens but only Commercio Cash Credits by purchasing them at 1€ + vat.
- A company can initially buy Commercio Cash Credits by paying them in Fiat Currency from anyone who has them.
TOKEN GENERATION EVENT
During the launch of Commercio.network in 2019 a Token called Commercio Token (COM) was created.
The Blockchain Commercio.network has a fixed supply of 60 million tokens and then will be minted exclusively 60 million tokens on the Blockchain Commercio.network. This number is written in the genesis Block and can never be changed, just like BITCOIN.
|%||receivers||Purpose||# Token (type)|
|4,17%||Commerc.io srl||25 Co-Founders||2,5 Millions (locked)|
|4,17%||Commerc.io srl||Development projects||2,5 Millions (locked)|
|5,83%||Commerc.io srl||Technical and Marketing Advisors||3,5 Millions (locked)|
|2,5%||Commerc.io srl||External Security Team||1,5 Millions (locked)|
|16,66%||Commercio Consortium||Secure transactions||10 Millions (locked)|
|25%||Liquidity Block Reward||Liquidity pool incentives||15 Millions (LBR)|
|20,83%||Accreditation Block Reward||Invite new members||12,5 Millions (ABR)|
|20,83%||Validation Block Reward||Block validation||12,5 Millions (VBR)|
|100%||TOTAL (maxCoin)||60 Millions|
- During the Token Generation Event (TGE) 60 million tokens have been minted by commerc.io srl and distributed as follows:
- 10 Million tokens reserved for commerc.io srl. These tokens will be Locked to encourage all the people in the team to contribute to the realization of the project.
- The 25 million tokens reserved as Validation Block Rewards and for Accreditors are kept in two smart contracts
- The 25 million tokens are distributed to all Commercio.network partecipants.