The blockchain – a continuously growing link of records called blocks which are linked together using cryptography has helped to a great extent to decentralization and building decentralized apps or dapps. From the first blockchain technology (blockchain v1.0) upon which the popular cryptocurrency was built upon, the bitcoin down to recent advancement in the technology leading to the formation of the blockchain v2.0, many projects and organization have sprung up seeking to solve major financial and societal problem to say the least been hampered by centralized unit by running their activities in a decentralized form. It has been quite efficient in solving these problems and some not but having majority of success in this field. Starting up, operating and running a decentralized application on a blockchain can be quite expensive and as such, many firms seek and raise funding using ICOs, although majority failed and led to participants being scammed. Running a start up is risky and requires determination of the project leaders and team to see to the success of the project. Investors wants to make profit and this mounts unnecessary pressure on the team. Statistics have shown that less than 30% of starts up eventually work effective and start to generate income.
The problem New startups face especially the ones with less capital funding that makes them run ineffectively can be linked to several factors. Some of the problems with startups looking to have a global reach includes, inability to fund expenses of a potential team member from abroad, stringent government policies regulating their activities, heavy cost of incorporation, unnecessary bureaucratic process faced in business registration, lack of transparency on the part of the startup experienced by investors amongst others. These problems are all due to the fact that they operate using a centralized model. Over time, there have being campaigns preaching the gospel of running a decentralized autonomous organization (DAO) and for companies to make a paradigm shift and adopt the blockchain technology, although some have but the number is still a fraction of the number of companies we have today and of the number of startups popping up yearly. In fact, statistics has shown that 300 Million entrepreneurs are more likely to launch about 150 million startups annually. This number although quite significantly impressive but only one third eventually succeeds and materializes to benefit the society.
As stated earlier as the reasons most startups fail, the problem of insufficient funding seems to be the biggest. Running a startup till it see fruition is money consuming and most startups barely see a fraction of their proposed take off sum. These problems however can be solved or reduced using the blockchain technology. Most startups running a blockchain and decentralized model are better able to raise funds through offering their tokens as stakes in the organization as initial coin offerings. Although companies existing or operating on the blockchain technology but there is still a huge gap between the number of startups we have now and those that see the light of the day. Crowdfunding and ICOs are the notable means of raising funds for new venture but majority of the end up in Scamming investors. Raising funds these days from Venture Capitalist isn’t easy after the emergence of the internet (the dotcom boom) and most fail leaving VCs and angel investors at a loss.
The EINC solution.
EInc is an online platform which will provides all users/individuals equal rights and opportunity to form, run and establish their own DAO or online platforms. Einc started like every other dapp on the Ethereum blockchain but the slow transaction speed of the Ethereum blockchain and the high gas fees resulted in Einc forking its own blockchain out of the old Ethereum blockchain. Simply put the old blockchain ceased to meet the requirement Einc needed to achieve its aim. The EINC platform is structured thus;
- Dapp: this is a smart contract with built-in protocols that will enable users manage the organization. This will reduce organizational disputes as everything will work according to the smart contracts.
- Grades: This is about giving a voice to each and every member of the organization. It’s about operating a cycle of democracy. Every participants will be able to vote on proposals with voting weight higher according to one’s status in the organization.
- Workflow: Here, an agreement must be reached in making proposals. Such proposals as sending ETI tokens needs to pass an approval before it is executed and the funds sent to the beneficiary’s address.
Meet the Team.
The Einc team shows the highest level of commitment, expertise in the blockchain technology and how it works hence their ability to fork their very own blockchain. They show a high level of professionalism and works well towards accomplishing tasks in their roadmap.
Roadmap
The ETI coin.
The ETI coin will be the official token of the EtherInc blockchain and will be the means of interacting with the EINC platform.
Token Metrics
Coin symbol: ETI
Coin sale: 15 July - 25 July 2018
Initial Coin Supply: 997,528,142 ETI
Mineable Coins: ~ 94,238,438 ETI
Coins for Sale: 450,000,000 ETI
Blockchain: EtherInc Blockchain
Block Time: 6 seconds
Reward per Block: 3 ETI
1 ETI = $0.1 USD
Soft-cap: $1M USD
Hard-cap: $22M USD
Start of Mining Rewards:
Tue, 13 Feb 2018 16:21:28+0000
End of Mining Rewards:
Fri, 07 Feb 2042 16:21:28+0000
Private Sale is Live and you can participate at [https://einc.io/purchase]
Useful Links
Website: [https://einc.io/]
WhitePaper: [https://cdn.einc.io/assets/files/einc_whitepaper.pdf]
Telegram: [https://t.me/eincHQ]
AUTHOR INFORMATION:
Name: Etinosa Peter, Igbinidu-uwuigbe
BTT Username: Romeoetin
BTT URL: [https://bitcointalk.org/index.php?action=profile;u=2093652]
ETI address: 0x72A1aC9F05Ea2F9da3f6530a1EBC446A51c4b57e
ETH address: 0x7173E1c2814d181C8122A4171D7a2583e44FCC39