PETERBOROUGH, HAMPTON VALE, REINO UNIDO, July 7, 2023/EINPresswire.com/ — ExtractoDAO, a pioneering blockchain platform, is poised to transform the global landscape with its innovative solutions for smart contract trading across a range of products that drive local economies. Led by founder and CEO Joel Almeida, the company has gained prominence by modernizing traditional market sectors, forsaking the worn-out tokenization approach and focusing solely on smart contracts in areas such as timeshare, agriculture, and online gaming, fueling economic growth and financial inclusion.
By adopting the issuance of smart contracts between two parties, ExtractoDAO ensures compliance and security in its operations. Through strategic partnerships with financial institutions and technology giants like Microsoft, which supports ExtractoDAO’s market modernization initiative, as well as Huawei, where collaboration on a Proof-of-Concept demonstrates thousands of operations per second between smart contract traders on its DEX set to be launched at the end of July. You can better understand the concept by reading the complete documentation: https://extractodao.com/whitepaper/mini-whitepaper-the-prince-en-2023.pdf
One of ExtractoDAO’s major achievements is the development of its own decentralized exchange (DEX) focused exclusively on smart contract trading as an alternative to token trading. With a small team of just over 20 people, ExtractoDAO is dedicated to relentless innovation and the development of groundbreaking technologies to create a democratic and inclusive market. Their tireless efforts have resulted in the creation of a DEX that enables continuous trading of non-commodity contracts through smart contracts. This innovative solution has initiated a new era of efficiency, transparency, and security in the cryptocurrency trading world.
The DEX will also revolutionize the traditional market that was previously resistant to the trading model proposed by cryptocurrency exchanges operating with tokens and cryptocurrencies. With the DEX, rural producers, entrepreneurs, startups, financial markets, and commodity companies can independently list smart contracts, sell their products in the market, and develop local economies. However, in the case of assets that are securities, they should always register their smart contract issuance offers with the regulatory bodies of their respective countries.
ExtractoDAO is poised to innovate and lead the global timeshare market modernization. The shared tourism model, where buyers can acquire smart contracts with durations of 20, 50, or 10 years, compliant with securities laws in many countries, presents an attractive proposition for builders and entrepreneurs to list their developments for sale through smart contracts, fully managed in the Drawer, where all legal documentation of the issuer and buyer is securely stored and protected by private keys, utilizing blockchain technology, accessible only to the buyer and the issuer. On the other hand, if a buyer has enjoyed their vacation and no longer intends to use the property in the coming years, they can put their contract up for sale on the DEX. When the sell order is executed, all legal data and ID records are transferred to the new buyer, who takes possession of the smart contract and can enjoy the property for the remaining years. If desired, the new buyer can also sell it to others. Through smart contracts, the platform allows for the trading of fractional ownership of properties, which will be sold by developers and not by ExtractoDAO. Unlike the old tokenization of assets, ExtractoDAO issues the smart contracts, receives 100% of the buyer’s funds, and independently manages them without any direct connection to ExtractoDAO, which only receives smart contract issuance fees, similar to Ethereum and other blockchain projects. As a result, ExtractoDAO is providing accessible and flexible investment opportunities for individuals to acquire assets from reputable real estate companies worldwide. With a focus on transparency and security, ExtractoDAO is redefining how timeshare real estate transactions are conducted, ensuring a fair experience for all parties involved.
Through the issuance of smart contracts for agricultural products, farmers can access global markets, eliminate intermediaries, and receive instant payments and capital injections for production. This innovative approach drives sustainable development and creates a transparent supply chain. Small-scale producers and businesses that lack access to capital from banks and other financial institutions, and are unable to conduct an initial public offering (IPO) on the stock exchange, can now have hope for a new future for their businesses through ExtractoDAO’s initiative to modernize economic models and create new markets. The creators of the project aim to fill the gap that tokenization has been unable to bridge in its approximately 10 years of existence. While tokenization has its merits and is essential for the health of the cryptocurrency ecosystem when issued and managed correctly, it has created more problems and mistrust than solutions for companies and entrepreneurs.
In addition, ExtractoDAO offers an operational innovative solution called the “Drawer,” a mechanism for storing and archiving smart contracts from agricultural trades as a validation of the idea. The Drawer is designed to ensure the security and privacy of the information contained within the contracts, obscuring certain details while allowing access to public clauses for transparency purposes.
The Drawer utilizes advanced blockchain technology to create a decentralized structure, where contracts are stored across multiple interconnected blockchains. This ensures the immutability of the contracts and prevents any unauthorized manipulation or deletion.
The decentralized nature of the Drawer is crucial for the reliability and transparency of the stored contracts. By distributing data across multiple blockchains, ExtractoDAO ensures that there is no single point of failure or centralized control over the information. This strengthens the security of the contracts and protects the rights and interests of all parties involved.
Fundamentally, ExtractoDAO has established and will maintain a close relationship with regulators, taking a different approach from traditional cryptocurrency platforms that distance themselves from regulators. This ensures compliance and fosters a trustworthy environment for participants. Through this collaborative approach, ExtractoDAO has positioned itself as a responsible startup innovator. Even at this early stage in the market, ExtractoDAO is working hand-in-hand with regulatory bodies to shape the future of blockchain technology and promote the adoption of regulated decentralized finance (DeFi) solutions.
Official Launch Event – Drawer – ExtractoDAO