Study by Global Entrepreneurship Monitor shows that 150 million startups are launched by more than 300 million entrepreneurs worldwide with only 50 million thrive and stand the test of time. Although they may not exhibit the features of traditional businesses which is limited by common regulatory bodies and geographic location, but there are much more reasons for their failure, insufficient capital being the major issue. Establishment of an organization require a lot of funds to cater for the paper work, incorporation cost, finance management and so on which is exhorbitant and can be burdensome for startups dt have not started making profits. Generating funds through mechanisms such as crowdfunding and ICO have not been so much fruitful due to investors' skepticism so as not to fall victim of scam ICO. Secondly, different countries have changing regulations that affect startups n the case of collaboration of distributed teams. Others are risk of partner inclusion and exclusion, conflict resolution among team members, lack of organizational framework amongst others.
Following the crumble of brilliant ideas due to the aforementioned challenges, eInc saw the need to support the startup of organization based on cryptographic proof not limited by restrictions like geographical location or intermediaries.eInc also known as EtherInc can further be described as a platform that help in creating and managing decentralized applications (dApps) and organizations(dOrg) that will develop rapidly and efficiently bearing in mind the consensus of stakeholders in a transparent manner. eInc aims to achieve this by blockchain technology with a built -Turning complete programming language.
Furthermore, eInc came in place to remedy the inefficiencies of the existing Ethereum blockchain which include low transaction speed & bandwidth, high gas fee, compromised decentralization by creating the core eInc dApp that support any Ethereum-based apps as well as eInc organizations. It was created as Ethereum fork on block 5078585 with added improvements in transaction confirmation speed, miner reward, network transaction time increased 2.5 times with no uncle reward.
All transactions are expressed as a monetary unit of ETI which is used to interact and complete all transactions within the system. There are two wallet options offered by eInc, both are open source code of existing MEW and Metamask to ease users because they are accustomed to them already. To send ETI to another ETI address, proposal need to be created and passed to enable the transaction. Proposal can be categorized into two broad groups : Voting based proposal and Grade based proposal. The former is passed if the organization can have positive votes that is greater than 'Quorum voting percentage' while the latter requires a higher grade than the proposal grade. By Q4, eInc will provide a marketplace containing dApps like payroll dApp that will enable eInc organizations have access to a wide range of applications to run their eInc without passing multiple proposals.
EtherInc (ETI) token sale starts on 25th June and ends 25th July, 2018 with 450M put up for token sale out of 997, 528,146 ETI. Out of the funds generated during ICO, 9.78% will be distributed to those who had Ethereum in their wallet during the fork, 10.02% set aside to support eInc organizations. Others are in the preview below
The team consist of industry experts with several years of working experience with Delloite and Swiss Re. brands, Tarun Malik is the CEO, Suryansh Kumar (CTO), Anant Mendiratta CMO) with other team members and advisors.
In conclusion, EtherInc will empower teams to create a democratic, borderless, permissionless organizations and applications with financial backing. ICOs can be conducted transparently using EtherInc blockchain, investors can participate without fear and the need for costly intermediaries.
For more information about this project click on any of the following links:
Website: https://einc.io/
Whitepaper: https://cdn.einc.io/assets/files/einc_whitepaper.pdf
Telegram: http://t.me/eincHQ
Facebook: https://facebook.com/eincofficial
Twitter: https://twitter.com/eIncHQ
Bitcointalk ANN thread: https://bitcointalk.org/index.php?topic=3780435
Information about the author:
Bitcointalk username: Anike01
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1565368
eInc wallet address: 0x5b38fB1E0494507Ed6994A132E07e0861a6D891c
