FOUNDATION

 

TON Blockchain is built on the idea that the payment industry can benefit tremendously from the democratization brought forward by the blockchain technology, but only when the right technologies are chosen and combined with the accepted industry workflows and systems.

When done correctly, this transition to blockchain-based payments will lead to radically improved credit/debit payment system through the combination of lower transaction fees, tight privacy controls, low rates on credit balances, and connected extra services.

TON Blockchain is a socially responsible organization, introduces a distributed, real-time payment processor and services platform into the global market covering a wide variety of credit and debit payment use cases. It allows merchants to accept small payments and avoid dealing with big banking and government institutions, prevents fears of recourse coming from corrupt societies; it frees consumers from the usurious interest rates on the credit card balances. Finally, it opens up global commerce where the governments are making cross-border transacting difficult.

All the TON software is under an open source license. TON Foundation is a non-for-profit entity, and we intend to operate as such unless we’re forced to change status by the governing laws of the land.

 

Impact

We believe a Blockchain like TON can have a far reaching impact, removing friction from the systems and enabling new use cases. To provide a few examples:

  • Consumers benefiting from lower prices due to merchants fees going down
  • Merchants offering more products and services
  • Consumers and providers benefiting from significantly lowered administrative and transaction processing overhead
  • Commerce and societies in general becoming fairer due to inability to install artificial barriers to commerce that benefit high-power individuals or lobbies
  • Drop in physical and electronic crime due to shift to cashless and secure crypto-currency
  • Consumers benefitting from lower credit card borrowing costs resulting from peer lending

CORE SET OF PRINCIPLES FOR TON

Real Time Authorizations

Real time authorizations are the crux of the modern payment processing. Accomplishing real-time authorizations requires a flexible and scalable architecture and an end-to-end solution

 

Transaction Privacy and Untraceability as the Basis for Payment Blockchain

We believe that complete transaction privacy and untraceability should be at the basis of the payment blockchain. The private network then implements facilities that allow both parties to select the levels of disclosures that are appropriate for any given transaction ​

 

PoW / PoS / PoI working together

We believe that proof-of-work, proof-of-stake, and proof-of-id each have their place in an application specific blockchain implementation like payments. We believe in implementing and using all these various approaches gradually and selectively to accomplish the ultimate security of the network as well as speed and reliability of the transactions. ​

 

Open Platform for Service Brokers

It is difficult to completely automate or/and decentralize some services such as identity verification, credit card processing, or instant currency exchange. While some core features such as real time authorization and untraceability are provided and implemented by the network itself, many important services will be delivered by third party service brokers. It is difficult to completely automate or/and decentralize some services such as identity verification, credit card processing, or instant currency exchange. ​

 

Specialized Blockchains

Complex systems are not stable. We believe in specialization of blockchains vs having bloated one-size-fits all approach that other smart contract based blockchains implement. We will add smart contract features that are relevant to the application, with an eye towards integrity and reliability of the network

 

ORGANIZATION

 

We estimate it will take an organization of 70-80 people to carry out the vision of fully developed TON Blockchain. Having lead a dozen or so large size product development efforts in our careers we believe in the following principles when it comes to building an effective organization that is capable of executing on the TON vision: Organization-wide

  • Decision transparency
  • Ownership culture
  • “Disagree and commit” culture
  • Recognition for “Above-and-beyond” to stimulate constant improvement and ownership
  • Time-driven (bracketed) development
  • Platform / solution division to build in product flexibility
  • Engineers “wearing customers’ shoes” (always or at least from time to time)
  • Clear CPDM funnel
  • Team and personal “thermostats” to avoid burn-outs
  • Hire stars but avoid collisions
  • Always ask 5 Why’s (https://en.wikipedia.org/wiki/5_Whys) (Six Sigma)
  • Put best people on “opportunity”projects ( as opposed to problem projects) (P. Drucker)
  • Re-write piecemeal rather than rewrites from scratch
  • “You’re shipping the org structure” approach

For our Engineering organization we believe should follow these principles:

  • Engineering organization consists of sub organizations (pods) divided by the area of expertise
  • Each engineering pod fosters knowledge and advancement within its own area
  • Each pod allocates engineers to the projects (new feature or new hw product) based on the needs and per roadmap
  • At any given time pods should contain n+1 or n+2 engineers based on the forecasted load to compensate for bug fixing, new employee development, refactoring, and staff churn.
  • PM’s have their own organization which allocates the right PM for the right project and where they share and advance knowledge
  • Releases are time driven and cadenced. The organizations learns how to manage time properly within the cycle to get on a regular schedule.
  • PDLC depends on the project and could be super-agile or “almost waterfall”, depending on the nature of the project
  • People move around between projects and up-and-down in roles, ensuring constant growth

The core organization will be augmented by volunteers and industry players who will want to contribute to the project. We will actively manage the community and ensure that the community is properly motivated to participate and contribute to the project!