EvoChain (ECHO) ICO Review – ICO Token News
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.
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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- Joshua SmithFounder
- Matthew LongSmart Contract Programmer
- Brent BeemanCOO – former JP Morgan Chase CFO/CSO/COO 25 years exp.
- Joseph MarescaChief Marketing Officer
- Spencer LeeDeveloper
- Daniel BullingtonCTO
- Jiaqi DuanDeveloper
- Leo HongDeveloper
- Raja ChallagullaDeveloper/Cybersecurity Engineer
- Timothy FrantzCFO
- Sasha SingletonWeb Developer
- Satyanarayana PavuluriSoftware Engineer
- 1June 2017
Start of the project
Technical infrastructure creation
Platform logic development
Develop Business Plan
- 2January 2018
A. The Evochain protocol
c.Transaction Guard / Refunds
- 3April 2018
PR campaign. Pre-sale preparation and launch
- 4June 2018
a. User interface
ICO Token Sale begins and Smart Contract minting continues.
- 5July 2018
Token Sale completes. Investment rounds close. Non-sold tokens burned.
- 6August 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
- 7June 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.
- 8December 2019 - ongoing
Continual support of wallet on desktop and mobile
Continued customer support
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