Blockchain technology, currently the underlying architecture of most cryptocurrencies, allows the automatic processing of online operations in a decentralized non-mediated manner via smart contracts.Onthe grand scale,smart contracts can easily and phenomenally improvethe current efficiency of online relationships in terms of speed, security,and cost,while also reducing complexity.However,adopting blockchain technology and smart contracts is currently a challenging task due to several integral problems,namely comprehensibility, resource allocation, and smart contract development, among others.
The Fabric Token (FT) ecosystem aims to empower individuals and businesses with easy access to blockchain technology and smart contracts by providing a bundle of user-friendly software. The products within the FT ecosystem will focus primarily on helping people of any background to create and deploy their decentralized application (DApp), without the specialized computer programming knowledge that they would usually need. Visit to Official Website https://fabrictoken.io/
PROBLEMS IN DEVELOPMENT
Accessibility & Financial Inefficiency in Blockchain Adoption & Smart Contracts Blockchain technology and smart contracts are still mostly misunderstood and difficult to adopt.
The Technical & Financial Challenges of Developing Smart Contracts Developing smart contracts, even with Solidity, presents an array of challenges, both financial and technical.
The Current Challenges of Intra & Inter-Organizational Business Processes Business process management, in its current state, has several flaws unnecessarily complicating the workflow.
The solution to the problems listed above as well as the rest listed in the White Paper is the Fabric Token ecosystem, which will consist of four main components the Fabric Token itself,TokenGen,DApp Workbench,and the Fabric Store.
Fabric Token
The payment utility within the FT ecosystem.One of the fundamental parts of the FT ecosystem will be the Fabric Token itself. It will be used as a utility to pay for products and services within the platform. For example, if someone wants to generate token and fundraiser smart contracts for their project, they will have to, in the end, pay a small fee in Fabric Tokens in order to get access to their code.
Fabric Store
A decentralized marketplace for smart contract components.The Fabric Store will allow third-party developers to earn tokens and build their reputation by complementing TokenGen and DApp Workbench with their custom-built software components. Strictly digital in nature, it will provide a lucrative opportunity for talented programmers, while helping the FT ecosystem expand and provide even more possibilities for businesses and individuals.
TokenGen
A simple web application for smart contract generation. TokenGen will allow users to generate smart contracts for their token and fundraiser by going through a simple step-by-step process – selecting token and fundraiser functionality, filling out details such as token name and symbol, paying in FT, before finally getting the fully tested and secure smart contract code as specified by the user.
DApp Workbench
The business application platform for incorporating smart contracts and blockchain into BPM.DApp Workbench will help organizations develop smart contracts through business process modeling. The application features a drag-and-drop interface, which will make use of the BPMN 2.0 standard, enabling the import and reuse of diagrams created using other BPMN-compatible tools.
DESCRIPTION OF TOKEN
Symbol : FT
The name : Fabric Token
Type Token : ERC-20
Platform : Ethereum
Total number of tokens : 100 million FT
Available for purchase : 80 million FT
The maximum target : 22,829 ETH
Price Token : 1 ETH = 2,700 FT
Methods of purchase : ETH
Begins on January 15, 2018 and ends on February 29, 2018
Token Distribution
80% will be available for sale to the general public.
12% will go to the Fabric Token core team and will be released after 12months.
7% will be allocated to advisors and released after 6 months.
1% will be used for the bounty program.
Budget Allocation
Product Development: 55% of the budget – allocated to the core Fabric Token team. This financing will allow the development of the DApp Workbench product, including the necessary adjustments and improvements to the already existing TokenGen tool.
Marketing: 14% of the budget allocated for expanding awareness and adoption of the Fabric Token ecosystem.
Contractors: 11% of the budget allocated for third-party service providers offering engineering, marketing, growth hacking,PR,partnerships, and other necessary services.
Legal: 9% of the budget allocated for legal costs.
Contingency: 6% of the budget allocated for unforeseen costs.
Administration: 5% of the budget allocated for security, accounting and other associated administration costs
