Blockchain technology has such a wide range of important and transformational use, from creating financial freedom in the most regions of the world to influencing big industries with its decentralized features that encourages transparency in organizations. While analyzing technology growth and development of the last 20 to 30 years, from microprocessors to mobile phones, to the internet, it is clear that with blockchain technology we have an magnificent opportunity to create real economic revolution and freedom in the world.
Blockchain and crypto currency innovation has created a whole new concept of decentralization. This does not just pose a tends to displace the traditional wsy organization are operated but also focuses on
Eliminating the loopholes attached with the previous system. This goes to prove how improved and advanced the blockchain technology has gone, and also how it has been able to minimise global boundaries by offering a chance at having an alternate and improved future for the whole world. Though the blockchain technology is still at its early phase, and sometimes encounters several hitches in terms of service quality, ease of use, and
Mode of operation, every generation of Blockchain is classic, which makes it a better choice. The main force behind the Blockchain technology is how it
has been able to utilize a decentralized system.
The Concept of Decentralized Autonomous organisation and Blockchain
A decentralized autonomous organization, known as DAO, is an organization whose plan execution are made electronically by a written computer algorithm or through the vote of its members. In essence it is a system of hard coded rules that define which step an organization will take. The idea of DAO plays down to when blockchain innovations were being developed, the driving forces behind the idea of a DAO organization were given the necessary toolset to transform their thoughts into a certifiable undertaking. Blockchain innovations presented the idea of a safe advanced record, which could track all connections of its individuals over the Internet and subsequently give a sheltered and secure condition to produce a decentralized autonomous organization.
The use of DAO can not be be overemphasized as it will be able run a business model more effectively.
Presently a DAO well articulated structure could completely improve the functions of organizations such as Dropbox, Uber and Amazon and many more and get rid of their “inefficient” human managers. This will inturn boost the efficiency and profit yielding capacity of the organizations
But just like any other structure DAO is faced with its own various challenge of which some are listed below;
2 Technical know-how
Setting up and running a DAO is quite the work of an expertise in the field and demands high level technology. Which might be cost intensive to some extent this might be another limiting factor.
But for every problem there is always a way out all we need to do is to figure it out. That is why the group of enic team has come together to develop a platform that will help promote the use and adoption of DAO in today's society.
EINC PLATFORM
Einc platform is an Organization is a smart contract with a defined framework that runs on EtherInc blockchain, which is uniquely designed to fix organization issues. Many start uo still encounters many challenges like cost implication, legal issues, and interference of third parties. With blockchain outstanding decentralized feature einc will be able leverage on that to provide a seamless decentralized autonomous organization.
Conclusion
We hope to see einc live up to the expectation. Though they will suffer some bottleneck at the initial stage but i due time i hope to see them thrive well.
EtherInc: THE MAIN GOALS OF ETHERLNC
osakuni (30) in blockchain • 2 hours ago
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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
The einc project allows teams from around the world to produce, manage, and manage decentralized firms that are considered sustainable and more reliable. This makes it possible to effectively develop a value that will not have boundaries, limitations and expensive intermediaries or third parties. This system is very similar to what bitcoin could achieve in the payment space.
EtherInc or eCinc is meant to make decentralized programs and exclusive methods for developing, handling and operating companies. The aim of this blockchain solution is to enhance business entrepreneurs around the world to develop and function decentralized companies from the restrictions of cost and range. This collaborative strategy will help add more value to the product and increase their believe in and adaptability. EtherInc is meant to be available globally to business entrepreneurs wherever they need this essential service
EtherInc has succeeded in building what can be called a comprehensive abstract foundation layer comprising a blockchain network with an inbuilt programming language. This means anyone in the ecosystem will be able to create smart contracts as well as other decentralized applications where they can set their own ownership rules, state transition functions and transaction formats. This platform will be very useful for making decentralized apps, especially in situations where employers are looking for a fast development time and also different application capabilities interact efficiently.
In the case of collaboration, EtherInc offers a voting platform in which business owners can create a company proposal for voting. The voting process is done in a very secure way that is not possible to forge. Proposals received can then be entered into smart contracts, with payments triggered only after all conditions in the contract have been met.
My imagination, however, had not come to terms with the technology of the blockchain.
Although futuristic, the EtherInc project offers the possibility of creating decentralized businesses on its own blockchain. It takes two minutes to set up a business like this. Just click on Create eInc and add the necessary information,
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Once the company has been created, a basic smart contract is created that can manage a series of dedicated applications. In fact, it is possible to add new employees and assign them voting power, create company shares to assign to investors, start an own ICO for the allocation of quotas, define dividends relating to quotas, insert a CEO or fire him, set up a system of automatic payment of payroll envelopes, change the legal name of the company or close the same.The blockchain eInc, unlike that of Ethereum, has a maximum number of coins eligible for 94,238,438 ETI, sufficient to cover around 24 years of activity. Miners, on the other hand, will see the commission drop down on each block over time, in relation to an increase in the value of the project
For more information kindly visit
Website: https://einc.io/
Whitepaper: https://drive.google.com/file/d/1Wxv9Puib_zA0FF2ePWqfOPbNllaQyQHq/view
Twitter: https://twitter.com/eIncHQ
Facebook: https://facebook.com/eincofficial
Youtube: https://www.youtube.com/channel/UCuXo10jvemdXWeROA1lc9Uw
Medium: https://medium.com/einc
Telegram: http://t.me/eincHQ
Author Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1266433
