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EvoChain (ECHO) ICO Review – ICO Token News

Overview

EvoChain is a blockchain technological innovation that o­ers businesses and institutions the ability to benefit from blockchain technology, by applying it to smart invoices, and instant issue Visa Debit Card Numbers, enabling purchases through crypto even on sites that don’t accept crypto payments, by utilizing smart invoices, no coding required, with no fees. The benefits of smart invoicing include error-proof payment systems in which payment receipt errors are impossible by design. Furthermore, EvoChain is compatible universally with other cryptos. Payments can be made or received in all cryptocurrencies. EvoChain’s interconnectivity is made possible by a inter-compatibility layering protocol which makes communication between chains simple, secure, and instant. By design, the larger the transaction network grows, the more secure it becomes, the faster it operates, without any scaling issues no matter how many transactions occur. EvoChain’s development will be guided by democratic input from the community. EvoChain’s blockchain backbone will be fully compatible with all major cryptos and even mainstream financial institutions. Additionally, 10% of ICO funds raised will be dedicated to research & development specifically for future blockchain technology in general, as well as specifically looking into the viability of applying genetic algorithms to blockchain e­iciency. Genetic algorithms are used to evaluate maximize e­iciency for a given task in ways that are not possible through conventional means. Applying this method to the blockchain will enable us to find the most optimal solutions possible for a set of blockchain tasks. EvoChain’s token will be used for anonymized data analytics purposes during this research, and instant Visa Debit swaps.

VISA Debit Gi­ Card Swaps

EvoChain plans to implement instant VISA Debit Gi‑ Card issuance in exchange for cryptocurrency. A flat rate low fee will be charged, and VISA guidelines and rules will be applied, which is beyond our control. This involves EvoChain to attain a certain high level of Capital, as laid out in our ICO. Once we have achieved this, we will have the ability to set in motion the steps necessary to become a VISA Debit Gi‑ Card Issuer, which will enable users to sell us their Crypto in exchange for a VISA Debit Gi‑ Card number, with the balance sold to us in US Dollars. This will enable users to purchase anywhere VISA is accepted as a payment method. This goes along with our philosophy of avoiding antagonistic contradictions with existing financial institutions, and instead creating harmony and mutual benefit between us and financial institutions, to eliminate incentives to create barriers and hardships for Crypto. This will work in the traditional way VISA debit gi‑ card issuance currently works. For instance, if you purchase VISA debit gi‑ cards in a traditional store in exchange for fiat, you can then purchase anything with your VISA debit card.

Interchain Transactions

EvoChain enables one to one enclosed systems to communicate with one another, without central control, and without human error. Few good solutions exist to address this issue, and none exist for inter-chain invoices compatible with all blockchains. Enter EvoChain. What does it do and how does it work? As with the internet, layers that function reliably and independent of trust is necessary. This is the basis for EvoChain, which enables inter-chain transactions for all existing blockchains and traditional finance systems. Business to business, person to person, b-ank to bank, or any combination thereof. Additionally, a portion of funds (10%) raised once the ICO has completed will go to researching and developing the potential of applying genetic algorithms to advancing blockchains technology, searching for the most optimal solutions possible, and applying them to the real world. EvoChain’s tokens will be used for anonymized data analytics as part of this research and development e­ort. Furthermore, we are working to become a certified Visa Debit Gi‑ Card issuer, so we can accept all crypto and instantly issue Visa Debit Gi‑ Card numbers online (no physical card).

Currently, crypto transactions can take several minutes, to several hours. Lightning Network and other proposed solutions like Raiden enable instant transactions. If certain conditions are met, there is no limit to the number of transactions that can take place instantly without delay. What crypto needs now is a “go-between”, such as EvoChain, to enable inter-chain communication. This will enable super-rapid trading, with infinite transactions at any given time, as well as very low transaction fees. Bitcoin, for example, can be sent through the EvoChain blockchain to save on transaction fees in certain circumstances. What this means is crypto can become extremely easy to use for day-to-day purchases, trading, investing, smart invoicing, etc. What we get is the dream of crypto realized: instant inter-chain transactions, as well as transactions between blockchains and financial institutions and businesses. So what does this all mean in the end? Smart invoices will usher in an era of error-proof billing, and allow for payment in any currency, crypto or otherwise. There will be no need to trust third parties, or other users, no room for human error, etc. No need to wait hours for transactions to finalize. Evo Chain enables all of this.

Token Generation Event: (ICO Public)

  • Type: Public
  • KYC: Required for USA
  • Tokens for sale: 303,150,000
  • Amount to accept: 75,787 ETH
  • Price per ECHO token before bonus: 1 ETH = 4,000 ECHO (NO MINIMUM)

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Team

  • Joshua Smith
    Joshua Smith
    Joshua Smith
    Founder
  • Matthew Long
    Matthew Long
    Matthew Long
    Smart Contract Programmer
  • Brent Beeman
    Brent Beeman
    Brent Beeman
    COO – former JP Morgan Chase CFO/CSO/COO 25 years exp.
  • Joseph Maresca
    Joseph Maresca
    Joseph Maresca
    Chief Marketing Officer
  • Spencer Lee
    Spencer Lee
    Spencer Lee
    Developer
  • Daniel Bullington
    Daniel Bullington
    Daniel Bullington
    CTO
  • Jiaqi Duan
    Jiaqi Duan
    Jiaqi Duan
    Developer
  • Leo Hong
    Leo Hong
    Leo Hong
    Developer
  • Raja Challagulla
    Raja Challagulla
    Raja Challagulla
    Developer/Cybersecurity Engineer
  • Timothy Frantz
    Timothy Frantz
    Timothy Frantz
    CFO
  • Sasha Singleton
    Sasha Singleton
    Sasha Singleton
    Web Developer
  • Satyanarayana Pavuluri
    Satyanarayana Pavuluri
    Satyanarayana Pavuluri
    Software Engineer

Milestones

  • 1
    June 2017
    Start of the project
    Goals definition
    Concept development
    Team formation
    Technical infrastructure creation
    Platform logic development
    Develop Business Plan
  • 2
    January 2018
    A. The Evochain protocol
    1.Backend
    a.Multisig
    b.Encryption
    c.Transaction Guard / Refunds

    Publish WhitePaper
  • 3
    April 2018
    PR campaign. Pre-sale preparation and launch
  • 4
    June 2018
    2. Frontend
    a. User interface

    ICO Token Sale begins and Smart Contract minting continues.
  • 5
    July 2018
    Token Sale completes. Investment rounds close. Non-sold tokens burned.
  • 6
    August 2018
    Product development and improvement
    Platform audit and processing of results

    B. Inter-chain currency exchange features built-in to blockchain

    Token listing on cryptoecxhanges
  • 7
    June 2019-November 2019
    C. Exchanging cryptocurrency for Visa gift cards.
    a. Audit security of site and wallet applications, mobile and web
    b. Performance evaluation and audit.
    c. Launch VISA eGift Debit Card swap for crypto service.
  • 8
    December 2019 - ongoing
    Annual Report
    Continual support of wallet on desktop and mobile
    Continued customer support

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