Solid Business Plan

Every Calculus investor wants to know how valuable Calculus can become. If Calculus succeeds in scaling the Universal Transaction Engine, it is expected that nearly all transactions will flow through this platform.

The value of a transaction engine is driven by multiple factors. Value increases can result from increasing the proportion of the market share, increasing the volume of exchange, optimizing the fees assessed, and/or increasing profit margin.

Exchange facilitation

Calculus charges fees on transaction facilitation. Calculus is dramatically more efficient. Margins

In 2017, the global annual volume of exchange was $7.499 quadrillion. However, Calculus advancements to the core Financial Market Infrastructure allow for near-instant transactions globally with substantially reduced costs and risk which leads to further increases in exchange volume. If you make something better, faster, and cheaper you generally increase the consumption of that thing.

Deals that were untenable because of time delays, cost, or risk are now profitable. Financial systems that were only synchronized daily or monthly can now be synchronized continuously. Payments that were infeasible due to cross-border constraints are now feasible.

In light of these facts, it is reasonable to assume that following the adoption of Calculus UTE, global volume of exchange will experience marked growth as a result of these advancements in the same way that international travel experienced growth after the proliferation of commercial airline services.

There are many components as to why the UTE offers cost advantages including the fact that the currently disparate systems of messaging, clearing, and settlement are brought together in one complete end-to-end process. 

This means sensitive information is no longer at risk through being transferred between messagers, clearers, and settlers as is the case in the current legacy infrastructure. This also means that many processes that are costly in the current system are not required in the future FMI advanced by the UTE. 

This also creates an excellent environment for Calculus and its partners to provide additional profitable services such as reconciliation, collateralization, liquidity management, lending services, and others.

Fees Assessed

Part of assuring widespread adoption is creating a strong incentive through increasing profits for those who use your product or service. Hence, Calculus has taken a corporate position of assessing value exchange fees that represent price reductions such that continued use of the legacy core Financial Market Infrastructure will cost entities between 50% to 99% more than using the future Financial Market Infrastructure advanced by the UTE. This means that entities choosing to use the Financial Market Infrastructure advanced by the UTE will likely make substantially more money and this is a strong incentive for change. However, because Calculus’ UTE bundles what previously were disparate networks and systems, our cost reduction effect to entities is multiplied. For example, an international funds transfer currently costs $25-$35, on average, while Calculus is able to provide a superior service for a cost of less than $0.15. This undercuts existing legacy settlement options by a sufficient margin to assure widespread adoption while maintaining sufficiently high fees for Calculus to ensure a high profit margin that can stand the test of time.

Profit Margin

At 4.5% market adoption, costs to Calculus for a total end-to-end transaction on the UTE average $0.00263 per transaction at an average rate of approximately 3,433 transactions per second which equates to an overall annual cost of $285 million. This compares to average revenue of $0.62 per retail transaction and $0.06 per wholesale transaction. Overall, this equates to a profit margin of 99.6% on retail transactions and 96.2% on wholesale transactions.

While Calculus has decreased assessed fees we have decreased cost structures in comparison to legacy alternatives by an even wider margin. This allows Calculus to both increase profitability and increase market share.

Volume of Exchange

The global volume of exchange was $7.499 quadrillion in 2017, which represents the target market for Calculus. This volume is currently spread over many fragmented networks. Calculus creates universal interoperability and standardization within and between these fragmented networks creating larger markets, economies of scale, and increased competition on a global scale.


In the long term, Calculus’ goal is to be the Universal Transaction Engine for all value exchange, meaning that when almost anything anywhere is bought, sold, or transferred that value will flow through Calculus. This goal will be achieved by financially incentivizing the use of Calculus core infrastructure for all types of transactions, including wholesale, salaries, and investments. Legacy commercial payments revenue totaled $1.9 trillion in 2017 despite the fragmentation and limitations of this infrastructure.


In order to estimate the value of Calculus, we need to estimate the Volume of Exchange on the Calculus Universal Transaction Engine as well as the fee charged on this volume. Computing the total existing global exchange volume in the event of successful market adoption ($7.499 quadrillion) with the respective retail and wholesale rate structures results in a total Calculus valuation of between 9 trillion and 13 trillion dollars.

Simple Return Example 

One of these fragmented networks advanced by the Calculus infrastructure is the card payment network.

Since Calculus allows for faster, less expensive, and safer transactions that markedly increase the retailer’s bottom line, buyers and sellers will prefer it to payment card infrastructure. Understanding that Calculus advances and facilitates nearly all types of value exchange in nearly all geographic areas, this example is meant not to be limiting,  but rather to give an easily understandable example of the value proposition that can be expanded to the larger market.

Global card payments represent over $20 trillion annually, while the United States alone represented 103.3 billion payments and $5.72 trillion in volume in 2016. Current Card fees in the United States average approximately 2.30% for domestic credit and debit transactions and are substantially higher for international transactions. 

Further, current card infrastructure is prone to fraud costing merchants 8% of annual revenues on average, a cost that is mitigated with Calculus. This equates to an overall cost of 10.3% on merchant revenue. In comparison, Calculus has an overall cost of approximately 1.7% on merchant revenue. An 83.5% reduction. Not to mention the fact that Calculus allows for global market reach and near-instant finality creating more liquidity and less risk for merchants.

The Calculus fee on retail transactions breaks down to a fixed percentage fee of 1.45% with a fixed per transaction fee of approximately $0.10. Annual potential revenue from US card payments can then be calculated as $5.72 trillion multiplied by 1.45% plus 103.3 billion multiplied by $0.10. This equates to an annual revenue from US Card payments of $93.27 billion. 

US Card Revenue = ($5.72 trillion (0.0145))+(103.3 billion($0.10)) = $93.27 billion

This may seem like a large number until one considers that this is a substantial reduction from what is currently being paid.

Of the $93.27 billion in top line revenue, approximately 48% is distributed to Rights Securities holders. This equates to 0.8% of card payments volume which equates to $5.72 trillion multiplied by 0.8% equalling $45.76 billion.

US Card Rights Securities Dividend = ($5.72 trillion (0.008)) = $45.76 billion

In this scenario, considering only adoption of Calculus Universal Transaction Engine within the Financial Market Infrastructure supporting US card purchases, a $100,000 investment in Calculus Common Stock in this offering would equate to a Rights Securities distribution equivalent to $13,760,456. With a dividend yield of 4.52% this would equate to market value of $301,764,386 for awarded Rights Securities for this investor.

Nevertheless, it is reasonable to assume that early investors have the opportunity for high returns.

Value: A Cryptocurrency Comparison

An alternative approach to estimating the value of Calculus is by studying the cryptocurrency market, which is an attempt to create a global transaction infrastructure. So far, cryptocurrencies have failed as financial infrastructure. Their focus is on ensuring scarcity (i.e. that no one can easily generate new coins), but they neglect stability of value, ease of use, interoperability, scalability, and transaction throughput. This makes them ill-suited for transaction facilitation, with nearly all activity fueled by speculation (see more about the shortcomings of cryptocurrencies).

Despite these shortcomings, the market value of cryptocurrencies reached nearly $1 Trillion. It is not far-fetched to assume that a platform that is designed to meet the market’s true needs (scalability, ease of use, decreased cost, etc.), and is exclusively coupled to a superior medium of exchange, should surpass this number. 


Modify Chart to read: Global Commercial Payments Revenue

McKinsey Payments Revenue.png

Description of the market


Rights Securities

Description of Rights Securities and member ownership and estimation of value based on distribution and exit strategy of public listing for maximal liquidity.


Projected growth based on current donations


2012 - 2016


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