What are the Token Economics of EZE Token?
The EZE token is a utility token, NOT a cryptocurrency. The primary purpose of our token is to offer a seamless mechanism to pay for EZE chain services, but also for participating organizations to EARN tokens and use those tokens toward network usage.
Additionally, we envision the development of a “marketplace” of solutions based on the EZEChain backbone in which additional services can be purchased from partners with the token.
Details of how these transactions will work will be finalized during phase 1 of the design.
The token itself will be made as flexible and transferable as possible, allowing for easy transfer between user wallets. We have chosen the ERC20 standard for exchange which creates the MOST flexibility for future transactions. Further, we will make commercially reasonable efforts for exchange services between major cryptocurrencies and also list the EZE Token on major exchanges pending their individual acceptance processes.
Early tokens are being issued as a community support program, to allow the EZEChain team to develop core technology in exchange for future usage of the network. Pricing for network services is yet to be determined, but the initial token sale is offered at what we expect to be a 3-1 ratio for the pre-sale and a 2-1 ratio for the next phase of the token sale. Meaning, early purchasers will receive a usage premium of 300% if services are purchased in phase 1 and 200% if purchased in phase 2.
Do NOT purchase the EZE Token if you are looking for a quick profit. The purpose of this token is to fund the community and development of the EZEChain. While you MAY be able to transfer EZE Tokens in the future to other currencies at a profit, this is NOT the purpose of the EZE Token and there is no guarantee of such an exchange or profit.
What are EZE.chain Services?
The assembly and decomposition of “verbs” will be potentially complex, requiring the cross-matching of IDs in a variety of blocks EZE.chain will offer three primary services to make this process of accessing, publishing and using the data seamless and “Easy”
EZEchain will offer a hosted NOSQL implementation of the entire blockchain to allow for fast reporting and query access via our API. This information will “assemble” the blockchain information into “relationships” allowing for traditional query styles.
A user definable “Schema” publisher to assist with user definition and publishing of acceptable schemas for items stored in the EZEchain. These schemas will be initially based on globally available GS1 standards. API for all CR (Create, Read) activities to the EZE.chain.
What is EZE.XML?
EZE.XML will be the preferred method of storing information in “Blocks” on the EZE.chain. Eze.chain will initially design and publish this XML but will eventually develop user committees to define, develop and evolve the XML used on the EZE.chain.
The design inherently allows for “nouns” and “verbs” to be defined, given a unique address and content to be controlled via EZE.XML. Additionally, each “sentence” will can be stored in a unique block for immutability and/or sharing via the EZE.chain network.
The initial vocabulary will be deployed based on the GS1 EPCIS Core Business Vocabulary Standard.
How does EZE.chain work?
EZE.chain will create a global distributed “data store” of universal business “Nouns” and “Verbs” that are applicable to business operations and transactions regardless of location or industry. These “transactions” will be published to a private, known participant blockchain. The EZE.chain.
A user-defined schema structure for “blocks” are stored in the global data store and published for use. “Observations” will be proper combinations of “Nouns” into a string along with supporting data, as defined in a user-definable schema using XML. Each “Noun” will receive a unique “address” like any other blockchain transaction, as will each “verb”. The data included will reference a publically available schema (XSD) to properly map XML that’s stored in the data block for the entity.
The assembly and decomposition of “verbs” will be potentially complex, requiring the cross-matching of IDs in a variety of blocks.
What Problem is the EZE.chain Addressing?
Global interest in blockchain by Enterprises is on the rise. Many projects are moving from “concept” to “development”. Most traditional “corporate” systems cannot evolve fast enough to take advantage of fast evolving and nascent blockchain technologies and networks Furthermore, cryptocurrencies are continuing to muddy the water and slow adoption in enterprises due to a lack of understanding and risk aversion.
This means there is a massive and global need for an easy to deploy and use blockchain environment for existing corporate applications:
• Businesses have a regular need to “publish” information to a reliable global network for authenticity.
• Working with blockchains is new and often difficult for organizations to fully conceptualize
• Creating “transactions” in blocks is not standardized, creating multiple versions of data formats creating a need for a “universal language” for blockchain
There is a massive opportunity for an innovative company to offer a simplified Blockchain implementation model for enterprise and mid-market organizations.
What is the EZE.chain?
EZE.chain is an Hyperledger-based technology platform designed to make the enablement and deployment of blockchain technologies “easy” for organizations large and small. Our solution consists of the following key components:
1. EZE.XML: XML published for the purpose of defining “blocks” on the EZE.chain. The EZE.XML will contain “nouns” and “verbs” to simplify the sharing of events and observations on the EZE.chain
2. The initial vocabulary deployed will be based on current high-use events as defined in the EPCIS Core Business Vocabulary Standard
3. EZE.chain: A Hyperledger-based known-participant network of nodes for the storage and sharing of defined blocks
4. EZE.API: A managed API service that allows the “easy” access to the EZE.chain by existing enterprise application
All technology created as part of the project will be made available as freely available open-source distributions.
The company is seeking to develop the core technology, deploy at least four-six global nodes for the EZE.chain and provide support, education and implementation services to companies globally, regardless of size. The funding of such development will be deploying using a Token Generation Event as described in this whitepaper.
Why is there a need for EZE.chain?
CIOs are faced with a daunting task of determining which technology, which initiative or which cryptocurrency to support for their organization. Consider the following:
- Only 13% of corporate technology leaders have clear and current plans to implement blockchain based solutions in their organizations (Source: IDC)
- Even then, in 2018 2.1 Billion is expected to be spent on Blockchain solutions in enterprises (Source: IDC)
- In the last 12 months, the number of Blockchain Related job postings on Linkedin has increased 3X
- EY is predicting that current “POCs” will move from concept to production in a series of phased deployments over the next several year
What is the EZE Token?
The EZE Token is a custom Ethereum (ETH) Token running on the publically available Ethereum Blockchain. Anyone with a ERC20 compatible ETH Wallet will be able to exchange or trade ETH tokens freely.
Is the EZE Token a CryptoCurrency?
While we use the same technology as cryptocurrencies, we are NOT intended to operate as a digital currency. The purpose of our token is utility in nature. That said, we plan to list our token on various crypto exchanges in order to facilitate purchase and exchange of our token as a convenience for our supporters.
Why Does EZEChain Need a Token?
We believe in the future of blockchains and also leveraging blockchain technology to deliver our services. All services available from EZEChain will be purchased using our token. By building the token in advance and offering it for sale, we are allowing our customers and supporters to help fund the development and subsequent public release of the technology.