Totem is building the world's first peer-to-peer accounting consensus protocol. It’s not just a first in the blockchain space – it’s a first in the accounting world too.
We use the peer-2-peer connectivity and real-time consensus properties of blockchains to ensure that all parties to a transaction have their accounting records updated at the time of the event in a way that leaves no room for fraud, corruption or manipulation. The global nature of the network defies politically motivated bad actors from restricting trade between consenting parties whilst preserving goals of personal and business privacy.Our main target market is the ever-expanding decentralized economy. As businesses employ less, and contract freelancers more, we are all moving towards a future where our accounting will be at the atomic level of our own Identities.
We are looking towards a future where we only need to share a Totem Identity, and all the book-keeping will be taken care of, automatically, silently and without an accountant in sight.Theoretical & technical research. Original Whitepaper published and reviewed by Prof. Emin Gün Sirer.
Evaluation blockchain L1 protocols against Totem’s requirements. Selected Substrate & Polkadot for build. Proof of Concept completed Dec 2018.
Launched the Totem Meccano CanaryNet on Substrate v1 in April.
Major engineering & development.
Totem Meccano UI, p2p messaging, faucet, BONSAI decentralised off-chain storage, Activities, Teams, Timekeeping, Archiving.
Continued major engineering & development.
Accounting Engine, intrinsic Chart of Accounts, Totem Economics, Orders, Prefunding with escrow account, Invoicing, Archiving & more.
Continued major engineering & development. Migration to Polkadot Substrate v4 Frame 2. Preparation for Polkadot Parachains and Mainnet.
Chainlink price feed integration and partnership. Polkadot, Bitcoin and Ethereum integration with microservices, Crowdloan preparation.
Kapex wins Parachain slot on Polkadot!
Partnership with Deloitte Partnership with EDR Partnership with Sandermans
Continuation of the roadmap, and migration of Meccano to Kapex.
Migrate Kapex Parachain to Polkadot Coretime
Completion of beta roadmap and milestones, grow the team and community. Product launch, end-user adoption.
Continued growth through loyalty program launch and more...