Introducing E3T

E3hubs, the largest incubation hub in South East Asia, is embarking on a grand blockchain project by creating a global digital economy platform that is powered by its native token, E3T. The platform will enable E3hubs entrepreneurs to perform all forms of economic activities that will create economic value that might rival the GDP of some countries.

E3T can be used in the following areas, but the list is not exhaustive.

E3T as An Internal Cryptocurrency of E3 Platform

E3T will be used as an internal cryptocurrency to pay for events, mentoring services, training courses. It is borderless because all the aforementioned transactions can happen on a global scale. For example, a coach can create an online mentoring service on E3 platform and members from any part of the world can pay for the service using E3T. Another example is a trainer can organize a webinar and members from any country can pay with E3T. Besides that, E3T can be used for E2C transactions and E2E transactions. It happened when members buy goods and services from physical outlets owned by members.

E3T as Payment for O2O Marketplace

E3T can be used as payment for the O2O marketplace. Members can buy things on the e-commerce marketplace and pay by COD mode via E3 mobile POS terminal.

E3 Global marketplace

E3 blockchain platform is not only minting tokens but also include a global E3 marketplace that allows members to trade digital and non-digital products and services and pay by E3T via E3 payment gateway. Transfer of asset ownership will be done based on smart contracts and it can be tracked and traced using E3T block explorer to avoid dispute.

Cross-border Money Transfer and Payment

E3 digital platform will facilitate cross-border money transfer and payment. Cross border money transfer can be conducted using E3T by reducing many intermediaries, thereby saving cost and time. We will make the cross-border money transfer seamless using E3 mobile POS app, just need to scan the QR code and pay. This will further enhance E2E trading among members of different countries。

E3 Dapps

By leveraging on the E3T PoA network, members can create all kinds of dApps using smart contracts and trade them on the E3T platform and transact using E3T. Besides, the E3T tech team will develop a dApps builder in the future so that members can create any dApp without having to learn how to code smart contracts. Therefore, the usage of E3T can be further enhanced through dApps creation and trading.

Sharing economy powered by E3T

Sharing business models such as Airbnb style office space sharing, ride-sharing, carpooling, etc all can be done using E3T.

E3T Tokenized asset trading platform

Expensive assets like property can be tokenized and sell on E3 tokenized platform using E3T as a medium of exchange.

Using E3T for P2P lending

A member can request a microloan in the form of E3T from another member on E3 P2P lending platform and approval of the loan can be executed based on the smart contract.

Using E3T for equity crowdfunding

E3hubs will set up an ECF platform by partnering some ECF players like FundedbyMe and CrowdPlus.Asia for members to raise funds via the platform using E3T. Matching is done automatically using the smart contract based on some terms and conditions.

E3T Multifunctional wallet

E3hubs will develop a multifunctional mobile wallet that comes in IOS and Android versions. It can perform the following functions:

  • Create an account(keys+address) and store them securely, transfer funds and make payment. Can accept different type of cryptocurrency or token
  • Token swap function
  • Market watch function
  • Friend get friend reward
  • Airdrop
  • Advertisement
  • Announcement

E3hubs is committed to making E3T one of the top utility tokens in the world and strive to build E3 into the world’s largest digital economy platform for entrepreneurs.

References

https://medium.com/@robin8/why-is-trading-digital-assets-via-blockchain-the-best-solution-6897db75faff

https://hackernoon.com/bitmark-how-to-use-the-blockchain-for-property-rights-ecf9f5e67e77

https://dappbuilder.io/builder

https://dgaming.com/media/what-is-poa-and-how-is-it-unique/

Tokenization Explained

What is Tokenization?

Tokenization has become a buzzword today due to its adoption in the payment industry and blockchain. However, Its usage is not limited to the aforementioned industries. It can be applied to many other industries such as healthcare, stock trading, gaming and more.

The primary purpose of tokenization is to ensure data security. It is used for handling sensitive data such as payment, medical record, personal ID and more.

According to Wikipedia,

“Tokenization, when applied to data security, is the process of substituting a sensitive data element with a non-sensitive equivalent, referred to as a token, that has no extrinsic or exploitable meaning or value. The token is a reference (i.e. identifier) that maps back to the sensitive data through a tokenization system. The mapping from original data to a token uses methods which render tokens infeasible to reverse in the absence of the tokenization system, for example using tokens created from random numbers.

The tokenization system must be secured and validated using security best practices applicable to sensitive data protection, secure storage, audit, authentication and authorization. The tokenization system provides data processing applications with the authority and interfaces to request tokens, or detokenize back to sensitive data.”

In short, Tokenization is the process of substituting sensitive data with non-sensitive identification symbols known as tokens. Tokenization retains all the essential information of the data without compromising its security.

A Short History

According to Wikipedia, the concept of tokenization has existed since the invention of the currency system centuries ago. It was adopted as a means to reduce risk in handling financial instruments by replacing them with surrogate equivalents.

In addition, coin tokens have a long history of use replacing the financial instrument of minted coins and banknotes. In more recent history, tokens are used in mass rapid transit payment, casino chips and more.  The adoption of the above systems is to replace physical currency and cash for reducing risks such as theft.

In the digital world, tokenization techniques have been used since the 1970s. They were meant to isolate real data elements from exposure to other data systems(Wikipedia, 2018). In databases, surrogate key values have been used since 1976 to isolate data associated with the internal mechanisms of databases and their external equivalents for a variety of uses in data processing.

More recently, these concepts have been extended to consider this isolation tactic to provide a security mechanism for the purposes of data protection. For example, in the payment card industry, tokenization is one means of protecting sensitive cardholder data in order to comply with industry standards and government regulations.

Definition in Blockchain

In blockchain, tokenization is a method that converts rights to an asset into a digital token. Thus, we can take an asset, tokenize it and create its digital representation that lives on Blockchain. Blockchain guarantees that the ownership information is immutable.  The tokens created in this way is also known as crypto tokens.

For example, you can tokenize an asset such as a book that you authored. The book is kept somewhere while the book token is uploaded to the blockchain network. The book crypto token is a representation of the book ownership. You can specify how many tokens need to be transferred to your crypto wallet before you can transfer the book ownership to a buyer by means of a smart contract.

One of the actual use cases is https://stamp.io , a platform where you can store your tokenized documents on the block and certify it, as shown in the following figure:

Cryptokitties is a brilliant example of the crypto token that allows users to acquire an adorable collectible by transferring some cryptocurrencies to the owner. The owner will then transfer the digital collectible to the buyer. The transaction occurs automatically via the smart contract.

Another use case is we can create a crypto token that represents some customer loyalty points on a blockchain. This type of token is also known as utility token. It can be used to manage customers’ reward schemes for the retail chains. Other examples include the crypto token that gives entitlement to the token holder to view certain hours of video streaming on a video-sharing blockchain. A house owner can sell his house by transferring the tokenized house deed to the buyer. Last but not least, a crypto token may even represent another cryptocurrency.