panjilaras: ICO Review Erecoin

ERECOIN ~ 3D-PRINTING GOES BLOCKCHAIN

Our mission is to make the increasingly complex world safer. We want to build efficient, clear and uncomplicated transaction processes to help to establish Additive Manufacturing as a key manufacturing method in the future. Thus, the erecoin platform solves dependencies on economic and resource-rich centres and is a global and decentral accelerator of additive manufacturing. Individuals and companies, regardless of their geographical location, will be able to design, modify, buy and produce products using the erecoin platform. Data exchange and rules on the usage of data are integrated into the blockchain. The erecoin platform is a decentralized blockchain solution focused on the transfer and exchange of digital 3D data and services. These transactions are referred to as an “ensured relied environment”.

ABOUT

The erecoin platform is a symbiosis of Additive Manufacturing and Blockchain. Both technologies are currently changing the world. Blockchain applications fundamentally change, the financial economy and the additive manufacturing of real objects from digital content, freed of production-technical restrictions. Additive manufacturing is about to revolutionize the production landscape. New methods, materials, and design concepts are already being created almost daily. In the near future, creating complex objects will be as natural as paper color printing on a computer at home.

As always, when new technologies conquer new markets, for the triumph of additive manufacturing it is necessary to tackle and master new challenges. The goal is to avoid making the same mistakes in the digital world of 3D print templates, as in the music industry, where intellectual property has not been effectively protected. The blockchain technology, with the possibility to conclude smart contracts, offers an opportunity to solve these legal and technical issues of the additive world.

Data exchange and rules on the usage of data are integrated into the blockchain. This creates an efficient, secure and unambiguous relationship of trust between all parties involved in the process chain; from the first digital sketch to the final individual product. Thus, the erecoin platform solves dependencies on economic and resource-rich centers and is a global and decentral accelerator of additive manufacturing. Individuals and companies, regardless of their geographical location, will be able to design, modify, buy and produce products using the erecoin platform.

SOLUTION

Additive Manufacturing

Additive manufacturing, commonly referred to as 3D manufacturing or additive manufacturing, is becoming increasingly important in industry. In particular in prototype construction, in components with a high degree of individualization or components with a complicated geometry, these production methods are used. But also in the production of end products, the extent to which additive manufacturing is used is growing.

Challenges

In the growing market for additive manufacturing, many different experts will have to work together in the future to solve constructive challenges. And the data exchange of finished print data between designers, contract manufacturers and users will increase sharply and thus the question of the trust and security of a transaction – in different countries and across national borders.

The Idea

By using blockchain technology, the erecoin platform will simplify and secure the data transfer of 3D related data. Files can be exchanged via secure and protected transactions, using erecoin token. Smart Contracts safeguard all parties involved in the 3D printing process and bring transparency and a scalable compensation method into the megatrend market additive manufacturing.

THE TECHNOLOGY OF SECURITY

Blockchain & Smart Contracts

If you’ve read this far, it seems you’re interested in what blockchain means for Additive Manufacturing and what this technology has to offer the community. Try to imagine a 3D world in which you can send your data on collaboration platforms or from company to company without worrying about manipulation, simply by securing your place in the blockchain. The decentralized networking of additive manufacturing between industrial producers, engineering offices and consumers creates a completely new and fast-spreading world, which will be in an urgent need of regulations. The answer is blockchain technology and especially for additive manufacturing: erecoin. What we mean, when we are talking about erecoin is a hybrid made of crypto currency and tokens. The blockchain technology enables both, a secure space in a new build chain where smart contracts can be used tailormade for additive manufacturing need and at the same time with room for individuality for participants and their agreements. The currency aspect of erecoin makes it easy to pay for certain licensees or print rights e.g. without leaving the application environment.

ICO & How to Join?

The term Initial Coin Offering (ICO) is based on the English term Initial Public Offering (IPO). This is an IPO in which shares are offered from existing shareholders’ holdings or from a capital increase on a capital market. While in a stock exchange company shares are sold, an ICO is to sell so-called tokens. Basically, you can think of these tokens as digital coupons which functionality can vary depending on the ICO. In most cases, they serve as currency for the project being funded with. In this case, investors are given the opportunity to invest early in a cryptocurrency that is actually not yet available. The idea: If the project is successful, then the value of the token should also rise above the original issue price. The fact that more and more investors see it as a useful and/or profitable investment opportunity is shown by the fact that in 2017 alone more than 180 million US dollars were invested in various ICOs. According to Smith + Crown, this value was only $ 101 million in 2016. And for the developers of cryptocurrency and blockchain products, the model makes sense, because it is a practicable way to finance their work.