Global Parity Valuation Engine

For an engine to record basic human need transaction's data the world over to create an index, a measure to be used as a baseline of value.

Vast international experience in direct trade, commodities, natural resources and spawned the first global parity valuation engine.

https://odysee.com/@ItemBanc:2/Information-Currency-New-Valuation-Technology:2?r=C3ctC4CYymukE5aLPXsqa99PxbWJ7kFN

https://www.itembancindex.io/

MVP
dApp where anyone in the world can create a profile based on their geographic location and Decentralized Identity (DiD). Once they have an account can upload price data, inventories of a list of 100 Basic Human Needs items (BHN).
These are the products that without we would perish; when push came to shove we would trade our cash, gold or ADA for them to save our lives. How much is water worth when one is stranded in the desert?
An example of how it will function is after someone buys a pair of shoes, anywhere in the world, they can open our dApp, select "Shoes'' from list, then they could scan the bar code or enter the information such as price, inventory, brand, location, a picture of the receipt if purchased, and submit the price data to our index. They would receive our token as a reward for providing price data to our index. Others who are interested in accessing the price indexes for certain items can buy our token to use for accessing the price index. Our dApp acts as an oracle providing price data on 14 and soon 100 Basic Need Items from all over the globe to those interested in that data, and it rewards consumers throughout the world with the same token rewards for providing valuable data to the index.
By recording and publishing BHN transactions the Item Banc Engine will analyze the data used to create a basket, an index, a measure that examines the weighted average of prices of basic human needs. It is calculated by taking price changes for each item in the predetermined basket of the five categories (food, shelter, medical, clothes, and paper goods) of BHN and averaging them. Comparing the transactions of a basket of BHN will provide an accurate valuation of currencies (precious metals, services, etc.) or whatever product is used in the procurement of them.
By making the value of BHN items known with comparisons and publication of their transactions they are no longer differentiated products. The Item Banc Engine categorizes basic human need products into units that are the same. This uniformity permits BHN to become logically traded. BHN's known valuations allow them to be bought and sold freely. As commodities BHN will be traded on a futures markets, in bulk on an exchange or spot market.
The commoditization of BHN allows these items to be traded in bulk as commodities on exchanges and for a futures market to be spawned for them. Item Banc has a specific plan for the values to be used with the blockchain as a Financial Services Marketplace that will provide an immutable, transparent, cost effective medium of exchange where producers can trade their products or credits on a shared distributed ledger, informatively educated with data from the Item Banc Engine. The market will have confidence that standardized prices for BHN commodities are accurately established. Producers can use the Item Banc Engine's data to determine where the most profitable markets are to export their products, to properly hedge their production and inventories. The financial markets will have a better way to value currencies.
By averaging the indexes of every country Item Banc will provide the baseline of value the market has been yearning for.
The marketplace will develop a multitude of ways to utilize Item Banc Engine's data and valuations.
BUDGET
$35,000 estimated for the development of Minimal Viable Product, which may centralized some aspects of the project but would allow interaction with Cardano blockchain, and MVP would included the create of a Native Asset on Cardano that would be used to provide rewards to people submitting price data, and others would use to pay for access to that price data.
Contract 1
ITEM (Item Banc)
Token issued to a Vadidated* address for current price data on ITEMS
Validated is a bool Yes/No derived from Contract#2
Data feed to hosted cloud with API Key access
Contract 2
Validated*
Yes/No
Yes with API Key after ITEM Price Data Set Entered
Until Contract 3 Turned on
Contract 3
Automated Oracle ITEM Data Specifications related to Validation:
Items
Country specifications
Decisions for Validation based on:
Percentage of price variance entered