Reality Code was born in Los Angeles, CA and incorporated in Delaware as a Public Benefit Corporation to match and balance the expansive business and social missions of the Company. It’s the creator of the Reality Code Platform and the initiator of the Reality Code Alliance.
A digital asset, in essence, is anything that exists in a binary format and comes with the right to use. Digital files that do not possess a right to use are not considered digital assets.
Blockchain is a decentralized, immutable distributed ledger that records transactions and tracks assets in a business network. Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all actors involved.
The Reality Code Alliance is an industry consortium committed to the broad adoption and promotion of the digital asset Economy.
See more about Reality Code Alliance here.
By registering an asset, participants have total control and protection over their IP while clearly documenting the ownership, royalties and agreements associated with each asset/project.
Your asset will be tokenized in Reality Code Platform’s blockchain technology and you will have total control and protection over their IP while clearly documenting the ownership, royalties and agreements associated with each asset/project. The idea or asset though, won’t be publicly available.
Once your asset is registered and you want to make it visible to other users, you will be able to publish it into the public digital library within the Reality Code Platform.
Perhaps the greatest attribute of the Reality Code Platform is its ability to tokenize assets/projects. Each individual asset/project can be registered on the Reality Code Platform and can then sell or issue Asset/Project Tokens (APTs) representing rights to royalties or other distributions, based on the performance of the asset or project. Together with the smart contracts, this allows for more transparent investment opportunities in individual projects and instantaneous accounting and distribution of proceeds as they’re earned.
The difference between both states of the Digital Asset is it’s visibility to the rest of the community within the Reality Code Platform. While registering the assets will provide you with all the benefits of tokenizing the asset on the blockchain, the visibility to other users with potential to transact with the asset will only be provided once it’s effectively published.
A distributed ledger is a database that is consensually shared and synchronized across multiple sites, institutions, or geographies, accessible by multiple people. It allows transactions to have public “witnesses” that will validate those transactions. The participant at each node of the network can access the recordings shared across that network and can own an identical copy of it. Any changes or additions made to the ledger are reflected and copied to all participants in a matter of seconds or minutes.
The Reality Code Platform represents the first industry adopted ledger to register and manage digital projects, assets and agreements among all the actors. This has only become possible with the absolute transparency and democratic governance needed with recent advances in blockchain technology.
The Reality Code Platform consists of an end-to-end development solution where protocol, network and product layers work alongside one another. In order to fully focus on industry growth, the solution is built as a private blockchain, where consensus is achieved through a Proof of Authority (PoA) mechanism based on a Master-Node structure. Each Master-Node stands for the vote of each of the participants, guaranteeing voting equality and total distribution among peers.
The Reality Code Platform is developed in Blockchain. Due to Blockchain’s nature and its subset of applications with its mechanisms for consensus, decentralization, cryptography and immutability, it adds new layers of trust and security to the metadata management world. With Blockchain Distributed Ledger technology, metadata can now be stored and contained directly within the file it refers to as well as independently from it.
Smart Contracts are the agreements between parties directly written into lines of codes which are self-executing across a distributed, decentralized blockchain network.
A Reality Token (RLT) is an ERC-20 compliant stablecoin used as a medium of value exchange for payments and royalty distribution among the actors on the Platform.
A Non-Fungible token represents the unity of each asset and project registered in the ledger; and a subdivision of the NFT, the Reality Code Asset/Project Token (APT), which represents the unique composition of each NFT/asset, clearly mapping and defining its ownership and associated business rules.
The Reality Token wallet, although independent from the Reality Code Platform, it works only with Reality Tokens (RLT). Regardless, it works just like any other cryptocurrency wallet storing a private and a public key to enable users to buy, send, receive, cash out and monitor balance of RLTs.
Stablecoins are cryptocurrencies designed to minimize the volatility of the price of the stablecoin, relative to some “stable” asset or basket of assets. In Reality Code Platform’s case given the initial permissioned and private nature of the platform, the RLT will be a stable token, and will be pegged in value to the US dollar. This will allow the token to behave as a pure stablecoin that provides price stability, liquidity, and access to the Reality Code Platform.
Creating an account on Reality Code is free. Registering an Asset on Reality Code is free. If you wish to publish your Asset (make it available for search and Transactions) we charge a $10 fee per Asset plus a $1.50 administrative fee each time you exchange fiat for tokens or vice-versa. If you complete any Transaction, we charge a success fee equal to 1% of the total Transaction amount plus the full amount of what our payment partners collect for administering the transaction (which fees may vary slightly based on your location). If our fees ever change, we’ll announce that on our Site.