Today our subject will be Emotiq. This company has decided to create a next generation blockchain that will be scalable, private and “natural”. By natural, the company intends to use a natural-language approach to the creation of smart contracts to create a better blockchain.
What Is Emotiq?
The approach that differentiates a company like Emotiq from the other blockchain companies is that Emotiq intends to re-imagine that role of the smart contracts in the blockchain, basically upgrading what Ethereum was created to do.
The main problem encountered by Emotiq when studying smart contracts was that they are not readable by humans because they only use code. By using a software called Ring, Emotiq intends to create a blockchain which will use smart contracts written in plain English, enabling the non-developer users to understand smart contracts better.
At the moment, the Emotiq blockchain, which is based on the Ethereum blockchain, is only a prototype. The development of the company will continue during 2018 after the ICO and the prediction of the company is that Emotiq will be able to be officially launched before the end of the year.
Who Is Behind Emotiq?
The person who idealized this idea and decided to create the company is Joel Reymont (CEO), a programmer which understood that the fact that people cannot read smart contracts might make them more suspicious of how they work and drive these users away from the blockchain platforms.
Accompanying Reumont, there Vladimir Lebedev (vice president of Engineering), David McClain (Chief Scientist), Shannon Spires (developer), Paul Tarvydas (electronics and microprocessor) and Mark David (senior software architect).
Emotiq EMTQ Token ICO Details
To finance the development of the company, it was decided that Emotiq would have an ICO. The private ICO is happening right now, but it is only for private investors, so you have to contact the company directly if you want to invest. If you want to invest in the main ICO, you can do it during the second quarter of 2018.
The company intends to raise $60 million USD through the two sales of the ICO. The company will create a billion tokens and 14% will be sold during the private sale and 36% during the ICO, which means that half of the tokens will stay with the investors. The other 15% will be sold to see contributors and 35% will still with the company.
You cannot deny that Emotiq has a really new idea by transforming smart contracts into something readable and a whole new vision about how smart contract should work. It is still way too early to tell if the general public will adopt the company, but it certainly has the potential to be a great investment.