Over the past few years, many ICO projects have cropped up and managed to raise billions of dollars. However, only a few projects have been successful and managed to gain mass adoption – Ethereum, EOS, Tron, and NEM, to name a few. Most projects remained at the POC stage and failed to deploy after raising funds. Worse still, many were scams where the tokens created were just empty digital currency with zero value, aka air coins. Besides that, many were ponzi or money games.
E3T is different. We have designed E3T to be an engine that will power the world’s largest Digital Economy Platform for entrepreneurs. We believe that E3T will help build a vibrant token economy for our closed-loop ecosystem. Although ours is a closed-loop system, we will have a sizable community that spans multiple countries. As all of them are entrepreneurs, they can create huge economic value that might constitute a portion of the national GDP of many countries. The introduction of E3T will accelerate the digital transformation of business processes such as financial services, HR management, product development, marketing, e-commerce, and more.
With respect to financial services, E3T can be used as an internal currency that drives all economic activities within the E3 Digital Economy Platform. These economic activities include E2E transactions, payment for training classes and workshops, payment in the E3 digital decentralized marketplace, payment for mentoring and incubation services, and more. In addition, E3T can also be used to conduct cross-border transactions among members from different countries. To ensure ease of payment, we are developing a mobile digital wallet that has multiple functions and a mobile POS that can allow merchants to accept payments in E3T and other cryptocurrencies.
Another area of finance that can utilize E3T is P2P lending. What blockchain can bring to the table for the peer-to-peer lending platform is building more trust and transparency into the system. Companies like SALT Lending, Lendoit, and Jibrel Network have already launched a peer-to-peer lending platform using blockchain and smart contracts. Similarly, the E3 tech team will develop a blockchain-powered P2P lending platform where entrepreneurs in E3hubs can have easy access to funding via debt financing. The P2P lending platform shall enable the creditors to lend E3T to the borrowers, and borrowers can use E3T to fund their projects, thus increasing the utilization of E3T.
Crowdfunding has become an extremely useful alternative to venture capital. However, traditional crowdfunding platforms charge a high fee for services provided. For example, Kickstarter charges a 5% fee on all funds raised, and their card processing partner also charges a 3% cut and tacks on an additional 20 cents per pledge. On the other hand, blockchain-powered crowdfunding platforms can leverage smart contracts to lower their own costs and pass those savings along to the recipients of crowdfunding by decreasing transactional fees. As the E3 vision is entrepreneurs empowering entrepreneurs, we will develop a blockchain-powered equity crowdfunding platform so that entrepreneurs in the E3 Digital Economy platform can raise funds from entrepreneurs at a lower cost than traditional ECF platforms. To encourage the utilization of E3T, entrepreneurs can invest using E3T and recipients of the funds can use E3T to kickstart their projects.
The good news is that Fundedbyme, a licensed equity crowdfunding and p2p lending company in Malaysia, has agreed to collaborate with E3 Digital Economy Platform to enable E3T to be accepted on their platform. By leveraging Fundedbyme’s expertise and experience, we will be able to build robust blockchain-powered P2P and ECF platforms to serve entrepreneurs in the E3 Digital Economy Platform. This synergy will greatly boost the value of E3T.
Human resource management has undergone tremendous changes in recent years, particularly with regards to the digitalization of human resources. The emergence of blockchain technology could further transform the world of HR. We will design a payroll and HR services platform on top of our E3 Digital Economy Platform powered by E3T. It will be a global outsourcing platform that serves the freelancers and employers within the E3 community. On this payroll and HR services platform, employers can hire remote freelancers from other countries and use E3T to pay them.
The supply chain is a highly complex and broad ecosystem involving manufacturers, suppliers, sellers, and retailers. Current supply chains face many issues including difficulty in product tracking, theft, counterfeiting, data fraud, and more. Maintaining a level of consistency and error-proofing, to ensure that the right products get to the right location in time, is a huge challenge for any supplier. On the other hand, blockchain-powered SCM can improve traceability and trackability that will greatly reduce the pain points of SCM. Therefore, we will develop a Supply Chain Management system based on blockchain technology specifically for the entrepreneurs in our closed-loop ecosystem. Channel members can be incentivized with E3T to host nodes on the supply chain networks and use E3T to pay for the transaction and transportation fees.
One of the most ambitious projects of E3hubs is to build a decentralized e-commerce marketplace where members can set up shops to buy and sell goods and services. All transactions can be paid with E3T using our desktop app or from our mobile wallet. This will greatly increase the value and utilization of E3T.
In a nutshell, E3T is designed to be the engine behind the world’s largest digital economy platform for entrepreneurs. It will be the main driver that will power all business activities in the E3 closed-loop digital ecosystem. In this way, E3T will attain mass adoption and could challenge the mainstream cryptocurrencies in the future.