Ethearnal ICO Review

Standard ICO Report Structure:

• Part 1: ICO Analysis (What is it about? What is the ICO intending to do? Describes what the platform is.)
• Part 2: CROWDSALE ANALYSIS – DETAILS & TOKEN SUPPLY
• Part 3: Useful Links (Further Research)

Part 1: ICO Analysis

Freelancers contribute quite a lot to the global economy as the market has an estimated global worth of over $1.5 trillion USD.

The different kinds of gigs available include jobs like technology-related services, administrative support, Design & Multimedia, Writing & translation, mobile, sales & marketing, finance and legal jobs.

These jobs represent the daily livelihood of a most resident of the United States and account for the highest jobs available within this region.

Across other continents, there is also an appreciable amount of internet related gigs and sorts – and at a steady rate, this economy is expanding to meet the growing demand and job supply concurrently.

Many companies turn to freelancing because the services are usually cheaper than hiring a stable staff to do the same job.

And in a situation where they are not satisfied with the outcome, they are not liable or committed to pay the freelancer.

More so, they also have a large pool of individuals to screen through to get the perfect results they want.

As an advantage to freelancers, they could take up multiple jobs in a month as much as it is available and not be bound to one particular employer.

Some freelancers have more than one skill that could be showcased and can use these same skills to create multiple streams of income for them too.

The most frequent way to get these jobs are through forums or social gatherings, there are very few web platforms designed specifically for the venture.

Usually, when people are looking for jobs online, they are considering more permanent or stable collar jobs, however, the freelance industry does possess prospects that are currently undervalued due to some mitigating factors.

Problems with the freelancing industry:

The major problem with this industry is establishing a line of effective business communication between gig providers or employers and the freelancer.

Often times, these communications are established through third-party web service listing or as ads on publishing web platforms to establish direct communication with the freelancer.

The centralized freelancing websites do theirs by listing job referencing and talents that match them, thereby creating a way to establish communication between the freelancer and the employer.

However, the employer can simply go out on his own and search for the freelancers and engage their services, but the issue of trust will always be a problem, especially when dealing with a client for the very first time.

More so, employers risk losing more because on the internet many people have multiple identities and can switch at any time without losing anything – they simply will burn identities as frequent as needed.

Most of the time, the presence of these centralized systems create an ‘intermediary block’, such that the freelancer hardly knows the exact terms of the agreement and true worth of the jobs that they do.

These sites oftentimes charge exorbitant commissions when escrow systems or arbitration processes are initiated, and delay payments unduly.

Another challenge is deciding the outcome of the job when delivered.

Clients may have problems with how a freelancer has designed or achieved the objectives, or they may not be satisfied with the outcome and result which leads to several modifications and extra expenses incurred on the freelancer.

Disagreements within the freelancing ecosystem are not surprising as it can occur from dissatisfaction in the task or with the eventual shortcomings on the set agreements.

Other problems would include the challenges that occur with the payment structure and system, as the payment system sometimes is limiting in areas where the payment method are not accessible to the freelancer.

Although there are some systems that have dispute resolution mechanism they are less than objective most of the time.

Other current solutions in the market are insufficient to tackle all the problems efficiently and hence creates an opportunity for platforms like Ethearnal to exist.

Ethearnal’s solution:

Ethearnal is disrupting the conventional freelancing ecosystem by building a niche for its self with a smart contract enabled business platform. with blockchain smart contract it is possible to use lines of codes to enforce terms of trade and ensure that each party would abide to the set agreement.

With the right code-clause, especially with the inclusion of tokenized reputation, the platform simply stakes the reputation of the members of the freelance ecosystems – whether they be employers or freelancers, –  as part of the smart contract protocol. This way, everyone has something to lose and so will do well to preserve their end of the contract at all cost necessary. This is done with little to no cost at all.

Other applications:

The platform can also be used to watch ICO projects and ensure they deliver on the promises of their token offerings. This is achieved through smart contract manipulations and quorum functions. This way, project developers can be devoted and diligent to deliver on the set agreements binding on the smart contract.

How the platform works:

They have an MVP on their website that is available for investors to get familiar with the functionalities of the platform. basically, through cloud hosting freelancers and employers can list their services or gigs on the platform respectively or search for each other’s listing and once they both find each other, they can initiate a smart contract and go into business.

The token represents the amount of reputations each party has and the amount that is required by each contract is determined by the employer in the smart contract depending on the nature of the job and risk estimates.

A portion of this token is used to reward the parties themselves on completion of the set agreement, which is a way to incentivize them and improve their reputation within the ecosystem. This way people can build credibility on the platform and confidently seek for more jobs.

Part 2: Crowdsale Analysis – Details & Token Supply

ERT is the absolute deal maker in the ecosystem. The token acts as a utility token and provides the necessary binding agreement terms in the smart contracts initiated. The tokens are what determines the reputation of the

Total Token Supply: 40,000,000ERT

Token Type: ERC-20 Token Standard

Token Distribution:

• Public sale: 75%
• Founders: 20%
• Bounties: 5%

ICO Sale Phase: 28th February 2018 – 1st April 2018

Token Price: 1000ERT = 1ETH

Crowdfunding Usage: Not Disclosed

Founding ICO Team – 

• STANISLAV UZUNCHEV (Co-Founder, Marketing): – Whitehat. Internet Marketer. Freelancing business for the last 10 years. Top seller at fiverr (fiverr.com/youngceaser). University drop-out. Crypto Evangelist.
• VLADIMIR VLADIMIROV (Co-Founder, Marketing): – Internet entrepreneur and investor. 18 years’ experience in online business. Extensive experience in marketing, SEO, and monetization. In Bitcoin since 2012, in Ethereum since 2014 (ICO).
• DOBRI STOILOV (Senior Back-end Developer): – Hacker. Writing code for 20 years. Experienced in Linux/BSD networking, search engines & databases. Worked for NASA & ESA software to automate processing & query on large scale raw satellite data.
• ROMAN STORM (Smart Contracts Developer): – Expert in Solidity. Built and audited several ICO contracts. Vast experience in development for companies like: BlockchainLabs.nz, Amazon, UserTesting, Vault 12, Marketron. Betfair, Cisco.
• PAULIUS KASIUBA (Front-end Developer): – UI/UX Developer and more. Created multi-million-dollar business websites from scratch. Self-taught, university drop-out.
• RAMI SPASOV (PR): – Technical Physics drop-out. Speaks 7 languages, 5 fluently. If you recognize him, congratulations, you have good taste in stand-up comedy.
• RADIMIRA YORDANOVA (Creative Designer): – Typographer, graphic designer and illustrator. In the field for the last 6 years. Teacher and lecturer on typography, type design, and graphic design at University of Veliko Tarnovo.

Part 3: Useful Links (Further Research)

• Website: https://ethearnal.com/
• Whitepaper: https://ethearnal.com/ethearnal-whitepaper.pdf
• Facebook: https://www.facebook.com/ethearnal/
• Bitcointalk: https://bitcointalk.org/index.php?topic=2628593.0l
• Reddit: https://www.reddit.com/r/Ethearnal/  
• Blog: https://medium.com/@Ethearnal_com/
• Telegram: https://t.me/ethearnal
• Twitter: https://twitter.com/ethearnal_com
• YouTube:https://www.youtube.com/channel/UC6DOpVCWsEXP8Scd6os7BdA
• GitHub: https://github.com/ethearnal/