INTRODUCTION
Organizations have a common organizational framework which controls and regulates all teams and members of the organization. Organizational framework is regulated by regulatory authorities of one jurisdiction. This is not necessarily the way how future organizations will work. Startups have replaced the conventional business organizations. Startups have teams which are not handcuffed by geographies and jurisdictions anymore. Approximately 150 million startups organizations are launched annually. This number seems huge and appealing but in reality, only a third of this number gets converted into business organization and serve the society in one or the other way.
THE PROBLEM
There may be 150 million startups annually but only a small fraction of these materialize. The main reason behind so many startups failing is lack of capital. Budding organizations usually are not able to meet their capital requirements, hence they are not able to sustain even for 5 months. The legal environment of different countries is different and laws keep on changing without any prior notice. Failing to adhere to the laws may lead to penalties up to $50000. These laws are a major roadblock in the path of startups. Incorporation of a new company is a costly and time consuming process. There is a lot of paperwork which is a burden on startups. Startups are vulnerable to conflicts and disagreements because sometimes the opinions of the members collide. This may result in the stakeholders backing out. Startups are unable to raise capital from angel investors and other methods of raising funds like ICO's and crowdfunding are not trusted by investors due to a large number of scams taking place all over the globe.
THE SOLUTION
The intent of einc is to allow the entrepreneurs to create their own organization in minutes. This project is trying to solve the organization creation problem by using blockchain technology. Einc allows for you to create your organization in minutes and removes the need to go to various offices to fulfill the paperwork which takes weeks. Einc uses ETI coins to pay salaries and make payments on the einc platform which uses blockchain technology. EtherInc is a fork of ethereum. Einc provides exclusive contracts for managing, developing and running Decentralized applications and organizations.
The main goal of Einc is to free the world decentralized organizations from restrictions and expensive intermediaries. Etherinc has a comprehensive abstract foundation layer which consists of blockchain. This foundation layer has programming language integrated with it. This basically implies that anyone using Einc can create smart contracts and decentralized applications. The owners of these applications and smart contracts can enforce their own rules, transaction formats and state transition functions.
CONCLUSION
The idea behind the project is innovative and it is backed by a strong team. The team consists of advisors from marketing field as well as technical field. So the team is small but balanced and has development experience. Startups face a lot of hurdles and roadblocks before they materialize, this is problem that Einc aspires to solve. Einc is based on blockchain, which ensures full transparency of transactions and activities that take place on the platform. Entrepreneurs can use this platform to expand their business, to access a diverse team, start secure crowdfunding and voting. The project is promising and will be in demand.
Website – https://einc.io/
Whitepaper – https://cdn.einc.io/assets/files/einc_whitepaper.pdf
Telegram - https://t.me/eincHQ
Author: Adan jumphoih
My profile btt: https://bitcointalk.org/index.php?action=profile;u=1355924