Topic: [OFFICIAL] ETCH TOKEN SALE: REAL-TIME PAYROLL AND REMITTANCE PLATFORM (Read 2150 times)

You guys need better marketing. That's what will generate interest and bring in investors.

I'll tell you this much... When you click 'contribute' and the 'token distribution event document' instead links to an article about converting bitcoins to ethereum (https://coinsutra.com/how-to-convert-bitcoin-into-ethereum-or-altcoins/), it's not a good look.

Not only does it demonstrate a lack of crypto knowledge, but also displays both carelessness and ineptitude when doing IT stuff in general. And you want people to send you their money?

For those interested, here is the actual document: https://app.etch.work/static/files/ETCH_Token%20Distribution_Event.pdf

The only reason that I'm going to send you about 0.2 eth is because of your partnerships with legitimate establishments.

Had you done better marketing and actually verified the links on your website prior to publishing, I would have probably sent 1 or more.

I think it is mostly everywhere, I may be wrong though

Any idea what the first field tests will consist of?

It is different because we stream remittance by the second instead of treating it as a monthly event. Yes, remittances services are slow and expensive. Yes, blockchain technology can reduce the time and cost of the transaction considerably when compared to traditional services. However, that is only one small part of the problem to be addressed.

A migrant worker has moved abroad to find better opportunities to work and support their family. They do not want to send his family money one month after he starts work, minus a few days for processing the transaction and a significant remittance fee. His family needs support now. They need it today and they need it every day. If a worker sends one bulk transaction per month, there is a real possibility of unaccounted for expenditure - an unexpected bill, they get robbed, school uniforms cost more than they first thought. The family can't wait till the end of the next month for the worker to be paid again, they need the money today.

Etch are running a token sale to continue building a real-time payroll system which streams wages to the worker as they have earned it, they can simultaneously stream remittances to their family, providing greater security and flexibility for supporting families with remittance.

 

Returning back to the days of old. Ironic isn't it that we have to get all high tech to revert to a similar model to how wages were done a few centuries ago

what country is your licence issued from and please post a copy!

This would be great for businesses who stay in one location, I can see why large construction projects would be the first industry that you go to. For future businesses would these beacons that you discussed in the interview be transportable so that lets say cruise ships could use them with their employees. I have a friend who had terrible luck working on the cruise ship because they can only withdraw money from on board, however because they only get paid every few weeks he missed out on the last part of his wage. So in this kind of situation this technology where you get paid on a moment to moment basis would be ideal.

How does the remittance service differ from other companies in blockchain?

Here is a youtube link to the Etch Alpha Platform Demo: https://www.youtube.com/watch?v=mlEBmMrEhPU&t=8s

Here is another link to an interview we did yesterday too :-) : https://www.youtube.com/watch?v=Yo8hbuktWkY

Where's the link to the product overview video?

Etch Scalability Requirements

The scalability of Blockchain projects is often criticised and a recurring question. As the
technology is nowhere near the maturity of 'web-scale' applications we have become accustomed to. With restrictions on; the block-size, transaction amount, the often
unrealistic assumptions on Ethereum Gas Price, and a host of other misunderstandings
of the reasons for such restrictions, we often face concerns whether any
Blockchain project or any ICO, can reach production performance.

Evidence Based Blockchain Scalability (EBBS):

To be comprehensively introduced on the technical blog in due time, the EBBS approach, in
a nutshell, is defined as; a functional transformation of cryptographic
evidence, leading to a predictable behaviour that can still be executed
outside of a consensus world (as all inputs into a cryptographic evidence are
of particular interest for a small number of participants) and only a smaller,
reduced set of activities are executed on-chain.

In Etch world, the unilateral statements are cryptographic confirmations of
work performed and wages due. These confirmations are of minimal interest to
the wider consensus, unless a dispute is in effect, and the worker disagrees
over the payment. Otherwise, these confirmations are forwarded to the payer
(which typically would be an employer as well), and cashed in. The act of
cashing-in should be a consensus activity - as it informs the wider network of
the substantial change in balances of participants.

We envision the 'cashing' to take place only when workers' available balance
is insufficient to cover the expected payment - at which point, the worker's
phone automatically collects all the evidence receipts and will attempt to convert
them into underlying fiat tokens. The conversion is intuitively performed
outside the chain (with on-chain processing as a more costly, and thus
undesired, backup) - and the final on-chain payment is made.

Blockchain Agnosticity

A key design criteria of all work performed by our team, is that we remain
flexible with the choice of underlying blockchain technology. This is
important as some environments we envision branching into, have requirements
pointing towards permissioned blockchains, while on the other hand, we remain
optimistic towards both evolutionary progress of scalability of Ethereum and
Bitcoin, divergent progress through forking, and revolutionary progress
through introduction of entirely new principles.

In that light, while we've selected Ethereum as our initial platform of choice
(predominantly due to the understanding of that platform within our pre-launch
backers), we're regularly testing the compatibility and economic rationales
behind operating partially on Ethereum Classic. Due to the teams' prior experience
with Bitcoin (predating Ethereum), as well as Coloured Coins, we also have a
roadmap for Bitcoin-world compatibility and each design decision is consulted
in a way to ensure the possibility of utilising Bitcoin as primary trust
anchor.

The team has come with the background of being able to work and review private
and permissioned blockchains. While no explicit work has been done on R3CEV's
Corda, OpenChain and HyperLedger Fabric, we maintain close ties with the
developer community and are able to assert the feasibility of migration
towards a private chain if a particular commercial partner so desires. The
economics of ETCH tokens will remain the same in that case, as the token is an
entitlement for a particular service, and can be consumed (privately) on the
private chain.

Finally, the work is closely related to the IoT and embedded world. Therefore,
we're keeping a close eye on non-pure systems, to evaluate their feasibility
as far as embedded evidence processing goes. As a security rationale, we also
monitor the progress of ZCash and related technologies in order to provide
additional shielding (current ZCash does not meet our requirements, however,
we encourage development towards a better fit).

Final Remarks

Bitcoin and Ethereum scalability issues are well researched and documented.
Many of these issues are political, as is to be expected in a wide and diverse
community. These can be mitigated unilateraly through technical means, and as
such are unlikely to present a long-term threat to scalability of Etch.

I've been researching Etch and can see you're running your first pilot and are potentially working on more projects within the CBC. If you're potentially rolling this out so soon how will you keep pace with possible growth and continue to scale well on the ethereum blockchain?

Etch will now launch a month long token sale starting 18th September

When do you plan on launching the platform?

Thank you! Our first pilot has begun today so we're excited to be trying this out in a real life environment 

You can view a demo of the dashboard and app on: https://etch.work/media

Wow. This might be interesting  I wish you all the best on this! 

Etch Token Sale is no longer on the 6th September - pushed back and TBA


Timely Innovation from Etch Produces World’s First Real-Time Payroll

Imagine if you could pay your employees and contractors in real time, second by second. This would
be visible via an app on mobile phones, which would also log users’ locations and working hours.

This revolutionary concept is becoming a reality thanks to the UK-developed Etch platform
(https://etch.work) which will be powered by the Ethereum blockchain.

Open distributed ledger blockchain technology is set to streamline business functions across the
globe.

Euros Evans, from London, who is a builder as well as a blockchain technology expert, is the CEO
and driving force behind the soon to be formed Etch Foundation.

Euros Evans (Left) with Aeron Buchanan who worked for the Ethereum Foundation
Euros Evans said, “The building and construction industries are notorious for late payments, which at
times can be due to the complicated payment structure, especially around subcontractors.

“This is unsatisfactory to both workers and to business stakeholders who want to work in the most
efficient way and aim to finish projects on budget and on time.

“Etch makes payments in real time possible so that people can literally be paid by the second. They
can be paid in their currency of choice, even allowing for part payment to a family member abroad in
a foreign currency. This is all thanks to an innovative payroll card that will be accepted in millions of
locations worldwide.”

The concept is being tested at a building site in Oxford due for launch on Tuesday September 5 2017.
Construction Lawyer Stephen Palley said, "Etch's smart construction contract technology has the
potential to be very helpful for industry participants - from owners, prime contractors and
subcontractors of all tiers to individual workers.

“I love the idea of reducing payment friction by providing real time remittance functionality. I am also
quite interested, long term, in the platform’s ability to automate many types of construction payment
and performances functions. It’s a great project and an impressive founding team."

Technology entrepreneur Ross Laurie said, “Payroll is a highly emotive subject and can be a source
of much distress for employees and contractors. This system can work in every industry with every
currency. The Etch system will be aligned to successful and ethical firms whose leaders wish to pay
people in a timely way with minimal paperwork.”

The Etch initiative will start in the £110Billion* UK building and construction industry, which represents
7 per cent of GDP and then roll out to other work streams.

Euros Evans added, “This is a world first and we want to deliver this quickly. The clock is ticking for
us on this initiative and we will move fast.”

Etch is the first approved ‘dapp’ (decentralised application) in the Construction Blockchain
Consortium (https://www.constructionblockchain.org) a group of leading UK champions of disruptive
technologies who are transforming the build environment.

The Etch team includes the CTO Tomasz Mlodchuwoski, a former MIT student of computational
physics, who is on the technical committee for the Construction Blockchain Consortium, blockchain
engineer Joshua Richardson, the inventor of Bitcoin Compact Confidential Transactions, Denis
Lukianov and digital entrepreneur Ben Whyte.

The team at Etch are passionate about governance and compliance and are receiving advice from
Paul Airley, a Partner for the law firm Fladgate LLP (https://www.fladgate.com/).

For further information, please see https://etch.work

Etch White Paper: https://etch.work/static/files/Etch_White_Paper.pdf

*Source: https://www.designingbuildings.co.uk/wiki/UK_construction_industry

Ends

High resolution images available on request. Euros Evans is available for interview.
For further information please contact Tina Fotherby on 0333 344 2341 or 07703 409622 or email
[email protected] or Olly Rolph on 0333 344 2341 or [email protected].
Alternatively, please contact Euros by email: [email protected].

About Euros Evans
Euros Evans spent over 25 years in the construction industry. First, he worked as an apprentice
builder with his father before studying to become an architect. He is registered with the NHBC and
between 2006 and 2014 was an investor in several property developments.

Always having an interest in innovation, in 1993 he co-founded the UK’s first student accommodation
website. Realising the potential of blockchain he set up NOMAN in 2015 and built a community of
800-plus, forging strong relationships with the people who have now become key members of the
Etch team.

Thanks for the feedback I'll do that now!

Its too early and how about the information about your whole summary of this ETCH? Instead of posting the link you should post some images directly so tge people wouldn't ask and accused it as a scam.

Etch first press release: https://app.etch.work/static/files/Etch_Press_Release_August_31.pdf