The QBaan Advantage

The QBaan has the following advantages when compared to the existing currencies.

  • The QBaan system is promoted and advanced by a nonprofit organization, called the QBaan Federation, that provides full transparency to all of its customers. It is therefore not subject to political expediency. 
  • The QBaan Federation has a vested interest in keeping the QBaan stable. It does not, it goes out of business.
  • There are specific checks and balances that inhibit the ability of individuals or cartels from destabilizing or taking control of the system.
  • Those participating in the Qbit economy do not experience significant inflation or deflation regardless of whether prices in all other currencies are stable, inflating, or deflating. The QBaan system monitors the buying power of the QBaan and takes action to stabilize it.
  • Because the QBaan system applies free market principles to money itself, it creates an economic ecosystem in which banks, non-profit organizations, and even individuals can start their own competing currencies. In the event that an individual or cartel was able to gain control of the QBaan system and corrupt it, customers would flee the currency immediately and thereby collapse the QBaan system. In other words, the free market picks the winning currency and therefore protects the economy from tampering and subversion.
  • The infrastructure put in place for the QBaan system can also be used by other systems to assist in the creation of competing or complementary digital cash systems. Other currencies that use the QBaan infrastructure are directly convertible to QBaans at all times.
  • The infrastructures used by the current monetary systems, such as banks, credit card companies, PayPal, and so forth, can readily participate in the QBaan system.
  • The QBaan system uses only hardware that is currently available, and in most cases the hardware is inexpensive.
  • QBaan are designed to have the “feel” of using cash, which people are familiar with.
  • QBaans are as private as physical cash. QBaans do not require that either the buyer or the seller disclose any personal information at all in order to complete the transaction because the seller receives the expected value from the transaction just as if physical cash was being used.
  • QBaans cannot be spent multiple times. That is, a buyer cannot pay a seller with QBaans and then pay another seller with the same QBaans.
  • QBaans cannot be forged.
  • QBaans can be backed up so they are not lost when hardware failures occur.
  • QBaans are more efficient and significantly less costly than moving physical money around.
  • As with physical cash, possession is ownership. The QBaan system guarantees that the seller obtains valid QBaans if the transaction completes, so sellers never to need worry about receiving value for products and services.
  • QBaans enable microtransactions that are difficult or impossible for current digital money systems to process. Therefore, QBaans can be used as the currency in games, for ad-hoc network resource contributions, and so forth.
  • QBaans can be used by anyone with even rudimentary computer hardware. For instance, a person in a developing country with a so-called “dumb phone” can use the system just as well as anyone with the latest hardware in a developed nation.
  • The QBaan system requires downloads, but almost all of them are free.
  • QBaan software is largely open source, which means that anyone can download the source code and improve the system.
  • People who modify the open source QBaan software can contribute the modifications to the system, or they can use them to create their own digital monetary system.
  • QBaans are based on rock-solid cryptographic technology that is currently in use and well proven to be reliable.

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