EtherInc (also referred to as eInc in short) is making DAOs a reality. eInc organizations are borderless and decentralized, just like Bitcoin, that are not limited by geographies, intermediaries and, other such artificial restrictions. The concept of distributed teams collaborating from all over the world, has gained momentum over the past few years. Working as distributed teams opens up new possibilities and avenues. The existing organizational system work reasonably when all the parties are a part of and governed by a common organizational framework which is regulated by regulatory bodies of
one jurisdiction, and are located in one jurisdiction. However, this is not the direction where the future of organizations is headed. Traditional businesses are being replaced by resilient startup organizations where teams are no longer shackled by geographies and jurisdictions.
The intent of EtherInc is to create an alternative protocol for running decentralized organizations and building decentralized applications, providing a different set of trade-offs that we believe will be very useful for a large class of decentralized applications, with particular emphasis on situations where rapid development time, security for small and rarely used applications, and the ability of different applications to very efficiently interact, are important. EtherInc does this by building what is essentially the ultimate abstract foundational layer: a Blockchain with a built-in Turing-complete programming language, allowing anyone to write smart contracts and decentralized applications where they can create their own arbitrary rules for ownership, transaction formats, and state transition functions.
Project Risk and Risk Management
At present, although some governments, such as Japan, hold a positive attitude towards Blockchain technology and cryptocurrency, and have established favorable policy to support the growth of the industry, there are still many uncertainties at the regulatory level due to conflicts between the decentralized nature of public Blockchains and the policies of existing centralized governments. Governments adverse to the proliferation of the use of cryptocurrencies in local commerce could issue laws and regulation deeming the use of cryptocurrencies a regulated activity. e.g. In recent months, countries such as China have issued regulations or statements prohibiting token sales, while other countries like the U.S. have sought to bring the sale of tokens within the same regulatory oversight as securities offerings. This could render holders of ETI incapable of using their coins in the future without further regulatory compliance.
The ultimate goal of eInc is to enable organizations and individuals to run businesses on the Blockchain. However, since the Blockchain industry is still in its infancy, the project will face a variety of market risks in the future.
The Operations team will use the following ways to mitigate the market risks:
• eInc Operations team will attend industry meetings regularly and hold press releases on project progress from time to time to communicate and discuss with relevant businesses regarding current market needs and prospects. This can ensure that the project is able to promptly respond to queries of the community and the market.
eInc Name Service (eIncNS)
eIncNS is works same like WHOIS where every eInc organization will be registered with their contract address and other metadata of that eInc organization. eIncNS will launch in Q3, 2018. The main purpose of eIncNS is to make eInc organizations more decentralized so that trustless systems can be built truly, instead of the EtherInc company acting as the trust company.
How does eIncNS work ?
eIncNS is a singular smart contract which contains the eInc organization’s metadata like: eInc organization name, contract address, renewal data, registrar etc. where people can register as registrar and can register new eInc or renew eInc on eIncNS by sending transactions to eIncNS smart contract.
What is the need of eIncNS ?
In the world of decentralized applications no one wants to/should have to trust a single entity. Since the eInc organization’s name will be unique worldwide and the need for a process of registering and renew eInc transparent w started creating eIncNS smart contract which will allow anyone to check eInc organizations and because all details will be in Blockchain so that even EtherInc cannot manipulate any data.
eInc Marketplace will consist of dApps, which will give eInc organizations a wide range of applications to run their eInc as and how they want. One example of Marketplace dApps is the Payroll dApp which allows eInc owners to manage their employees and pay their salaries automatically, without the need of passing multiple proposals.
The different layers of the eInc Platform
- EtherInc Blockchain
EtherInc Blockchain was created as a fork of Ethereum on block 5078585. ETI (EtherInc) Coins are the driving facilitators of EtherInc, and are used to pay transaction fees.
- EtherInc Protocol
Peer-to-peer communications between nodes running eInc clients run using the underlying eInc Protocol.
- eInc dOrg + Utility dApps
eInc dOrg lets you create and implement DAOs on the “eInc framework”. One can use other utility dApps or create their own dApps on top of it, for example, HR Bot dApp, Payroll dApp, etc.
Web3.js is a collection of libraries which allows one to interact with a local or remote eInc Blockchain node.
- eInc UI
eInc Organization Explorer (etherinc.org) lets a user manage eInc, create proposals, take actions on the eInc Organization, and keep a record of all the transactions.