XYZ99 (OP)
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July 01, 2018, 05:26:40 AM
Last edit: July 06, 2018, 12:38:22 AM by XYZ99 |
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A smart contract is a computer protocol intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract.
Smart contracts allow the performance of credible transactions without third parties.
These transactions are trackable and irreversible.
Smart contracts were first proposed by Nick Szabo, who coined the term, in 1994.
Proponents of smart contracts claim that many kinds of contractual clauses may be made partially or fully self-executing, self-enforcing, or both.
The aim of smart contracts is to provide security that is superior to traditional contract law
and to reduce other transaction costs associated with contracting.
Various cryptocurrencies have implemented types of smart contracts.
[Source: Wikipedia]
Application of Smart Contracts
Insurance
A highly-populated area was hit by a calamity and a lot of people were affected.
Insurance companies, instead of waiting for people to file their claims, can initiate the process through their smart contract.
Every eligible insurance clients residing in the affected area will be determined by the smart contract
and the insurance company can start the claims process.
Copyright
Books, songs, movies, documentaries or anything that can be copyrighted can take advantage of smart contracts.
The smart contract monitor will everything and will calculate how much each collaborator is entitled to.
No more miscalculation on royalties. No more hidden sales record.
Everything is now transparent, thanks to smart contracts and the blockchain technology.
Exchange
Want to exchange cryptos or fiat with someone across the globe?
It is now possible with a smart contract.
Once the smart contract receives both fiats or cryptos to be exchanged, it would continue executing the next action included in the contract.
Delivery
Tracking cargo containers would be a lot easier with smart contracts monitoring the location of the ship, train or plane.
Since they are computerized, smart contracts can provide the last known location of the cargo container
every hour or every minute without human intervention.
Employment
Smart contracts can record the exact number hours an employee worked to properly track performance and also to facilitate wage salaries.
Employment contract, NDA and other agreements can also be recorded
without the need of notarized physical documents.
Mortgage
Mortgage loan is a very complicated process and requires a lot of documents to be filled out and signed.
Smart contract can make the entire process simpler, easier and cheaper for both parties.
Supply Chain Management
Supply chain management is about the flow of goods from raw materials to a finished product like car production.
Smart contract can monitor who is responsible for a certain batch number of raw materials, what time was it processed
and other things necessary to keep track of the productivity and efficiency of the entire manufacturing process.
Others
There are still more applications of smart contracts that were not mentioned here.
And other application that no one has thought of yet.
As we go along, people will keep finding ways to apply this amazing technology.
Introducing Ethereum Limited
Smart contracts can change the entire world.
Not only it is applicable in the business world, it is also beneficial to how consumers interact with service providers and merchants.
Imagination is the only limit to what smart contracts can be applied to.
What hinders the mass adoption of smart contracts is lack of programming skills.
Not everyone knows how to write a smart contract because it requires extensive programming knowledge and not everyone is a programmer.
Ethereum Limited is a platform residing in the Ethereum blockchain.
It is a smart contract creation and execution platform.
Users can create their own smart contracts by answering a few questions from the bot.
If a template is not available in our platform, users can go to our marketplace where they can look out for templates other users are selling.
If they still cannot one that they would suit their needs, they can ask other users to create a custom smart contract specifically for their needs
for a fee that they would agree upon.
On the other hand, smart contract writers can earn cash selling or creating custom smart contracts on our marketplace.
The platform will require payment for creating and executing your smart contract.
Testnet would be free to use for everyone, though.
Both the platform and marketplace will accept Bitcoin, Ethereum and Ethlimited at a 50% discount.
Token Specification
Token Name: Ethereum Limited
Ticker: ETHL
Maximum Supply: 10,000,000
Decimals: 18
Contract: 0x813a823F35132D822708124e01759C565AB4331d
Token Allocation
Token Sales
Pre-ICO Sept 10, 2018 @ 15:00 GMT
Allocation: 800,000 tokens
Minimum purchase of $200 @ $0.50 each.
ICO
Round 1
Allocation: 1,000,000 tokens
Minimum purchase of $100 @ $0.70 each
Round 2
Allocation: 1,000,000 tokens
Minimum purchase of $100 @ $0.90 each
Round 3
Allocation: 1,000,000 tokens
Minimum purchase of $100 @ $1.10 each
Round 4
Allocation: 1,000,000 tokens
Minimum purchase of $100 @ $1.30 each
Round 5
Allocation: 1,000,000 tokens
Minimum purchase of $100 @ $1.50 each
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