> So I take a picture of a $100 U.S dollar, send it to your contract app, and I will get quant tokens? Which quant tokens are a cryptocurrency that I can sell on a exchange?
Yes. You take a photo of your any supported banknote and you get the equivalent in quants. We will be working with exchanges to have them listed.
> If this is true, you pretty much built a system were I can duplicate money because all I had to do is take a picture and send it? I didn't physically give you the money, I took a picture and you gave me money, while I kept the original money.
A banknote submitted and processed will no longer be usable on Ellcrys. It is simply a model for fair distribution of the digital currency such that everyone can claim what they are worth (cash) in quants. After the "blood fire" event and the total supply is claimed, no new banknotes will be accepted or processed. The initial value is derived from this conversion process; a banknote processed is considered "burned".
Most digital currencies gain their value from the utility of the platform they are native to. The Quant will be used to pay for resources allocated to contracts and could serve as a payment method for services offered by contracts.
I hope I answered your questions well. Happy to explain further if you need me to.