OpenLedger ApS

VPLedger blockchain ecosystem - Enterprise first, on every level
Existing blockchain projects provide the user with no guarantees of network stability and offer no
protection of legal rights. Businesses have therefore lacked the practical and legal reassurances they
need to leverage the considerable advantages of blockchain technology.

VPLedger is built from the ground up for enterprise needs, enabling businesses to integrate powerful
peer-to-peer tools and services into their processes within a clear legal framework.

Vision
VPLedger was created to offer businesses the
benefits of blockchain technology and
peer-to-peer financial operations, within a
stable, reliable technical framework and with
the legal and regulatory guarantees that
have previously been absent in the sector.
VPLedger’s ‘enterprise first’ ethos is evidenced
in a number of key features:
● High transaction throughput, suited for the
needs of global business.
● Suite of powerful tools and services,
including smart contracts, a decentralised
exchange, token creation, stablecoins and
other digital assets.
● Mandatory KYC for all users.
● Permissioned network with known
validating nodes, verified through
enhanced KYC.
● ‘Protective democracy’ approach, founded
on a Constitution.
● Clear legal framework for redress in the
event of fraudulent transactions.

VPLedger addresses both the technical and
regulatory shortcomings of earlier blockchains
and decentralised platforms, which have thus far
discouraged businesses from integrating these
new technologies into their processes.

The result is an ecosystem of decentralised
products and services, open to all but
accessible only by individuals and entities
willing to undergo identity verification. Within
this blockchain network, users are free to
undertake any activity they wish, subject to the
regulation in the relevant jurisdiction.

Technical approach
VPLedger is built on Graphene 3.0 , the
technology underpinning the BitShares
network. The use of a permissioned ledger
with a limited number of known, approved
validating nodes enables throughput of 100,000
transactions per second . Consensus is
achieved via the VPG algorithm.

The platform hosts a virtual machine, running
Ethereum-based smart contracts and
decentralised applications (dApps), enabling
businesses to execute complex logic in a
trustless environment.

The native currency and default means of
payment within the VPLedger ecosystem is
Vimples (VPL) : a unified, frictionless currency
for a global single market of blockchain
products and services. Unlike conventional
open blockchains, the task of securing the
network and processing transactions is
separated out from the payment layer; Vimples
are designed to function solely as a means of
accessing software services , rather than as a
speculative asset.

Meanwhile, a separate Governance body ,
consisting of users, will make democratic
decisions about the future technical and
economic directions of development and
activity for the network. This hybrid approach
allows VPLedger to offer a truly ‘enterprise first’
blockchain solution.

Key tools and technical functionality:
● Smart contracts and dApps
● Smartcoins, stablecoins and user assets
● Hierarchical account management system
● Automatic generation of business reports
● Cross-chain operations
● Transparency of team identity and funding
● Decentralised development
● Decentralised multi-wallet
● Block explorer and other blockchain tools

Key ecosystem features:
● Ability to interact with counterparties within
an enforceable legal framework
● Secure, reliable and transparent DLT
● Private transactions
● Up to 100,000 operations per second
● Transaction fees as low as 0.01%
● Free user-to-user transfers and messaging
● Opportunity to influence core economic
decisions and network characteristics
● Sophisticated tools for minimising financial
and counterparty risks
● Ability to work with both fiat and digital
currencies and assets
● Decentralised model of development and
improvement of blockchain protocol
● Well-developed, diverse ecosystem of
services
● Instant response to hacking and malicious
activity against network users via legal
instruments and recourse
● Multi-level user protections to facilitate
effective business operations

Business
VPLedger is designed for the needs of the $21
trillion global SME market.

All platform revenues are collected by
OpenLedger ApS, the technical developer of
VPLedger, to be distributed to stakeholders at
regular intervals. OpenLedger’s chief revenue
stream comes from Vimples purchased as part
of initial platform access, memberships and
top-ups. Vimples can be be purchased against
different currencies and on different AppStores
and e-commerce sites outside of the VPLedger
platform.

Users who purchase membership enjoy
benefits including 60% cashback on all
transactions, plus passive income from referred
users. Lifetime membership is available only
until January 2020. Revenues from transaction
fees will be shared among platform
stakeholders, including members , the
Governance body and validating nodes .
Up to 200 million Vimples will be sold by
OpenLedger ApS. After this, Governance will
decide whether OpenLedger will continue as
corporate head on a branch model, or hand
over the network to a Foundation. A further 10
billion VPL will fund platform marketing and
development.

Constitution
VPLedger is run on the model of a protective
democracy, according to a Constitution.
Validating nodes agree to adhere to the
Constitution. Thus fraud can be addressed
swiftly, but user rights and protections are
maintained and transactions cannot be blocked
or reversed without an appropriate legal order
by the relevant authorities

Team
VPLedger’s CEO is Ronny Boesing, founder of
OpenLedger ApS, the core developer for the
platform. Detailed information about the
activities of the VPLedger team, including the
history of all changes within the blockchain,
current work to improve the platform, the
results of referendums, etc, is all transparently
accessible and constantly updated on the
official VPLedger website.

Conclusion
VPLedger combines the best features of peer-to-peer technology within a legally compliant framework,
offering a bridge between fiat and the blockchain world. This enables businesses to leverage the benefits
of blockchain technology without the regulatory uncertainty that has prevented widespread adoption.
VPLedger is based on the principles of protective democracy, where economic decisions are made
directly by the users themselves. The blockchain is developed and maintained by the legal entity of
OpenLedger ApS, which is responsible for all the obligations undertaken under the VPLedger blockchain
Constitution.