Close to a decade now, the world had been marveling at the intricate tendencies of the blockchain technology. The blockchain technology had been pivotal in setting up many platforms and is already making waves in different sectors of the economy such as finance, ecommerce and gaming.
What many fail to understand is that the blockchain technology can be applied to real-life situations and this can be achieved by using Decentralized Organizations (DAOs). There are many start-up companies that are prone to fail if they do not take the right approach.
The current model is centralized and any business or start-up that keeps using this model might find itself in debts within months of floating. It has been posited that about 30% of entire start-ups were able to achieve their goals. So what happens to the other 70%. Flushed down the abyss I guess and this is because there’s a problem and we shall look at that.
The Problem
The problem faced by many start-ups stems from the centralized approach in vogue. The first problem facing new organizations is limited funds. According to financial analysts, these new organizations have enough capital to keep them afloat for the first two quarters of the year after which they hit bankruptcy. Having in mind the huge role funds play in business, it is not encouraging that new organizations lack required funds to run their business.
Regulations are also limiting new organizations. If you’re to partner with a citizen of another country in setting up a new organization, both countries’ (yours and your partner’s) regulations will come to bear. This is apart from the documentations and financial aspects to this.
There is also the problem of incorporation costs being on the high side and in situations when there are conflicting opinions among key members of the organization, the effect if not well-managed, might result in a split in the organization.
Likewise, inclusion or exclusion of partners poses another problem. If your partner in a business withdraws his support, you’ll find yourself in a state of malady. In such situations, other partners and third-parties might utilize such situations for their personal gain.
So with these problems facing start-up organizations, it is pertinent to create a decentralized approach that will allow emerging organizations have a stronghold. There is need to help the start-up and new organization industry with a huge potential of 305 million companies growing by 100 million companies every year.
The solution will also encourage start-up companies and avoid them from going the way of over 100 million start-up companies that were forced to close yearly as a result of challenges rocking the industry and hugely because they were insufficient funds.
A Solution is here
Problems breed solutions and solutions open up new avenues of doing things. The solution we have here is EthereInc (eInc) – a decentralized organization powered by the blockchain technology.
EInc is here to provide a protocol that will be used in running decentralized organizations. It will also be helpful in the development of decentralized applications. The same way Bitcoin recorded massive success in the global digital payment system; eInc is poised to create decentralized organizations that will be transparent.
HOW IT WORKS
It will also solve the above-listed problems and some other problems that face the start-up industry. If you’ve been looking for a way to create decentralized organizations, look no further as eInc got you covered. Through the built-in-Turing programming language on its platform, eInc allows you write smart contracts. This feature is a more efficient way of scripting as opposed to the one offered by Bitcoin.
eInc will make formations easier for decentralized organizations. You can compose your organization’s team at your leisure and the platform provided by eInc makes it possible for the team to work efficiently.
Technology
eInc is hinged on the blockchain. It was developed specifically to run on the Ethereum blockchain but following some issues that were prevalent therein, it sought for an alternative.
eInc was first developed to function as a Decentralized Application (Dapp) on Ethereum’s blockchain. It discovered that the Ethereum blockchain had issues such as low transaction speed and high rate in gas price. This did not augur well for eInc so it sought for alternative blockchains such as NEO and Ethereum Classic. These platforms however, did not measure up to its expectations.
eInc had no other choice but to develop its own blockchain known as the EtherInc Blockchain. The eInc blockchain will be effective in offering decentralized architecture for organizations to perform creditably. It also features a decentralized approach and enough bandwidth to see to the smooth run of organizations. So, eInc is using a Ethereum blockchain for its operations.
Features
eInc will use three components:
⏩ EtherInc dApp: This is a dApp based on the EtherInc blockchain. The eInc dApp is powered by smart contract and it will overlook all transactions on the platform just as it will use its built-in protocols in managing organizations.
⏩ Einc WorkFlow: Einc works using proposals so for your token to be sent to another participant, you have to create a proposal which when fulfilled, will fast-track the fund transfer to the beneficiary.
⏩ Grades: The eInc platform is democratized. Users are allowed to vote as this represents the power they weld. The grades are ranked as either higher or lower. An organization with higher grades has much influence in the platform.
TOKEN ALLOCATION
TEAM
ADVISORS
CONCLUSION
To learnmore about Einc, check out the links belo:
Website: https://einc.io
Whitepaper: https://cdn.einc.io/assets/files/einc_whitepaper.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=3084491
Twitter: https://twitter.com/eIncHQ
Telegram: https://t.me/eincHQ
Writer:* Collinberg
Einc Wallet: 0xA618F44c65a181D3f1822F9fC870eD6A6f68062C