Breakdown of the building blocks and the bigger picture
The RTS Network is building a general purpose framework of smart contracts and front end libraries for the purpose of deploying, operating, and governing marketplaces in Tourism. The network is powered by Ethereum, Sidechains, Smart Contracts, ‘UPort’, ‘Plasma’, ‘Aragon’ governance and the distributed file system ‘IPFS’.
Let’s dive in today in the simple breakdown of the RTS Network.
Everything we’re building is to challenge the current ownership structures of the Tourism communities and marketplaces. We are working to lower the bar of entry so any Tourism related Business can do this as well.
We believe there is a better world within grasp that will create a transparent and decentralised Tourism economy.
How Will We Achieve This?
With each day, we’re progressively building what we call The ROOTS Framework, a standard framework that will power the underlying network. We’re building ROOTS Framework by utilising already established curation market models, utilising distributed marketplace concepts (Uber, Upwork, and Airb&b) and allowing for open modular governance models by using Aragon.
Each ROOT we launch will be a core component of ROOTS Framework:
- ROOTS Travel App : Discovery, filtering, listing, ranking
- RTS Factory [Coming Soon]: Core framework/contracts for the ROOTS Framework.
The Staking Interface
After the Aragon main-net launch, we will deploy a staking interface that allows RTS holders to participate in open control over the ROOTS through an Aragon governance layer for each of the markets that come online. When a ROOT is created, an Aragon entity will also be created that people can interact with through the staking mechanism. After staking you will receive voting rights in that ROOT.
Every ROOT will driven by Artificial Intelligence to make it work as a Decentralised Autonomous Organisation.
- SmartAgentxInfra will couple easily to your ROOT that would make easy and automated bookings for your users.
- DataIngestionxInfra will form the backbone of your ROOT and would clean, structure and summarise travel related info with NLP & Neural Nets.
- BusinessIntelligencexInfra would take smart decision around interoperability to increase conversions.
What is the ROOT Creation Interface?
The creation interface can be described as the WordPress of dApps, the ROOTS we’re launching are like wordpress templates, while auxiliary modules can be seen as WordPress plugins to extend functionality. This will all come together after the core The ROOTS Framework is online. This will dramatically lower the bar of entry for anyone wanting to remove central power structures from any Tourism marketplace they can dream up, even if they aren’t a developer.
Aragon & Governance
Aragon will be utilized as a governance layer and enable the ability to stake RTS tokens to ROOTS. It will also allow us to start building out ROOT-specific governance functions. People will stake RTS tokens in those varying governance models.
Some governance models that we will likely see Time based staking, Futarchy, Stake weighted, Meritocracy and reputation hybrids, Liquid democracy or delegate style governance.
When you stake RTS token to a ROOT you will be granted access to the Aragon entity’s voting rights. Considering the modular nature of Aragon, the benefit of staking will be different depending on the individual ROOT.
Examples of things that governance participants could potentially control ROOT design, Governance structure, Auxiliary modules utilized, Reputation systems Integrations utilised.
The end result will be a world where you can create a market that suits your needs, where market participants have the say as much as anyone else and no central power structure can dictate how the market works. We want anyone in the world to have access to the benefits that decentralisation brings. The RTS Network is yours and we can’t wait to see what you build.