TimeApp Foundation FAQ's
How does TimeApp.Foundation work and what is it for?
The currency was born to be a METRO of exchange, in itself it should not have a value, it should serve exclusively to replace the barter, keeping the value of a commodity or service, to be then reused for another commodity or another. service.
Over time, however, coins have assumed an intrinsic value and have become an object of exchange, thus entering into competition with each other.
This fact has generated an instability that makes all currencies currently in circulation, fiat and virtual, subject to sudden changes in value compared to other currencies, favoring speculation and making them unreliable as a means of exchange and storage of value.
The initial purpose of the coins was to know how many pears a kilo of apples is worth and to be able to sell apples today and buy pears tomorrow.
But if the scale used today to sell apples, when you want to buy pears, will no longer be calibrated in the same way, the trading system subjects those who use it to a non-calculable risk.
Time Foudation has created a new storage and exchange system that has no value of its own as it is NOT exchangeable, NOT purchasable and NOT salable.
Time was chosen as the unit of measurement, the only real wealth possessed by every human being, a form of intrinsic wealth.
To get an indication of the value of an hour, Time Foundation has chosen to estimate the minimum value of an hour of work using the minimum hourly wage in force in many states of the USA, for this reason there is an indicative value in the wallet in US $.
Currently, the average minimum hourly wage can be quantified at $ 10.625
There is also an indication of the value of an hour in euros, Time Foundation has chosen to estimate the minimum value of an hour of work using the minimum hourly wage in force in many states of the EU, for this reason there is an indicative value in the wallet in €.
Currently, the average minimum hourly wage can be quantified at € 12.570
Each person can create an account on timeapp.foundation and will receive 10 hours.
Time Foundation will periodically assign new hours to all registered users based on a time frame that can be varied based on the number of users and other management considerations.
Through the TimeApp.foundation wallet each registered user will be able to view their wallet and the operations carried out.
The only possible action is to send "time" in the form of hours and fractions of an hour, to another registered user.
This operation takes place via Whalevault, therefore, in order to use timeapp.foundation you need to be a Steemit user and have Whalevault installed.
Each operation consists of a transfer of 0.010 Steem to the time.foundation account; the memo specifies a control code, the user to whom "time" is to be sent, the amount of hours and fractions of an hour to be sent.
The transaction fees are used to finance the management and development of the application.
Each operation on the Steem blockchain is combined with what is recorded in the TimeApp.Foundation archives and a control transfer is then written on the Steem blockchain, in this way all the operations carried out can be reconstructed from the Steem blockchain.
Your time, present in your wallet on TimeApp.Foundation, CANNOT be bought, CANNOT be sold and CANNOT be exchanged for other currencies.
It will periodically increase automatically as time passes.
Initially, one hour will be assigned to each registered user on the first day of each month.
Why use this new immutable unit of measurement of value?
Precisely because of its immutability, due to its non-negotiability.
The value of an hour cannot, by definition, change its value, for this reason if, for example, you use this system made available by Time Foundation, to pay for a service or to buy a good, whoever accepts your payment will be certain that, in the future, the value of the hours you sent him will remain the same forever and can therefore be used to pay for any other good or service without the fear that it will devalue, so it will be possible to buy the same good or service exactly with the same amount of hours.
Time Foundation "time" is NOT a currency, it is not convertible in any way and, therefore, it does not compete with other FIAT or virtual values, it is a unique and immutable conversion measure to facilitate the exchange of goods and services.
TimeApp.Foundation does NOT use any type of cookies, for this reason it does not ask you to accept their use.
How do I use TimeApp.Foundation?
Requirements needed to use TimeApp.Foundation:
- Have at least one Steem Account (Don't have a Steem Account? Here you can create one).
- Having installed the "Whalevault" extension, if you have not yet installed it you can follow these links:
For Chrome / Brave / Kiwi
In order to use TimeApp.Foundation you must first create a Time Account.
Clicking on the "Time Account" button opens the account management page.
To check if the account you want to create has already been used, enter the desired account in the "Time Account" field at the top left and press "Reload", if the value disappears it means that the account is free.
To proceed with the creation, re-enter the desired account in the "Time Account" field and fill in the correct values in the following fields:
Name -> Enter your Name
Surname -> Enter your Surname
Identification ID -> Enter the Identification Code of a document that certifies your identity (for example: Tax Code)
Passphrase -> Enter a Password or a Passphrase of your choice (there are no restrictions of any kind)
TimeApp.Foundation does NOT register your data in any way, not even locally, these fields are used only to generate a SHA-256 code that is associated with your Account. TimeApp.Foundation CANNOT recover your Account if you forget any of these 4 fields, because it does NOT register them anywhere, either locally or on its own servers.
TimeApp.Foundation, in case of disputes or otherwise, may ask you, in the future, to prove the ownership of your Account, in this case, always without saving anything anywhere, you may be required to show a document that proves the correct association between your Name, Surname and the document that contains your personal data; for this reason we advise you to enter the real data in "Name", "Surname" and "Identification ID".
TimeApp.Foundation DOES NOT perform any type of check on the Passphrase which can contain any type of sequence of characters and can be of any length, for your safety we still recommend a Passphrase with a minimum number of 8 characters.
Currently the "Blockchain" field can only contain the "STEEM" value
In the "Blockchain Account" field you need to enter a valid Steem account that has access to "Whalevault"
Once you have stored "Identification ID" and "Passphrase" by pressing the "Create Time Account (Whalevault)" button, your account will be created and automatically associated with the Steem account you entered as a "Blockchain Account", you will then be asked to authorize, via "Whalevault", a transfer of 0.01 Steem to the Steem user "time.foundation".
At this point you will see your Time user entered in "Pending" status, after about a minute, after checking the association between your Time user and your Steem account, the Time user will be ACTIVE and, in the table below "ASSOCIATED BLOCKCHAINS USERS ", your Blockchain user will appear in" ACTIVE "status.
Can I associate more than one Steem user with my Time account?
Yes, on the Account management page you can associate all the Steem accounts you own, when a Time user has been entered, 2 other buttons will appear that allow the insertion and deletion of the Steem users associated with that account.
For both operations you must enter the following fields with the values you entered when you created the Time account:
- Identification ID
In the "Blockchain Account" field, enter the Steem user you want to add or delete.
This operation involves, like all operations, a transfer of 0.01 STEEM to time.foundation.
How does the Time Wallet work?
The "Time Wallet" page, accessible via the appropriate button from the homepage, has 3 tables, in the first one you need to enter your Time Account and press the "Reload" button.
After reloading the page you will see your time account, the hours in your wallet and the reference value in $.
Below this table is the part to use to send hours to another user.
This is the only "active" part of your wallet, in fact the only possible action is to send hours to another user.
The fields to be exploited are:
- From -> One of the Steem users linked to your account
- To -> Steem user linked to a Time user
- Amount -> Amount of hours to send. Hours are expressed in hh.mmss where minutes and seconds range from 00 to 99 (for example an hour and a half equals 1.5000 in Amount)
- Memo -> Optional, message to add to the transfer
This operation involves, like all operations, a transfer of 0.01 STEEM to time.foundation.
When the operation is "MATCHED" you will see it among the transactions with a negative sign while it will appear among the transactions of the user Time associated with the Steem account that you entered in the "To" field with a positive sign.
At the bottom there is a table with the list of the last 500 transactions linked to your Time Account.
The first transaction in chronological order (so the last in the table if you have fewer than 500 transactions) is the 10-hour credit transaction from time.foundation.
How can I help Time.Foundation?
TimeApp.Foundation has his own Witness on Steem Blockchain, you can help the Foundation voting for this witness
Vote Time.Foundation Witness
TimeApp.Foundation has a Proposal Vote Time.Foundation Proposal
If I need help where I can find it?
Time.foundation has a dedicated Discord server, you can access it using this Link