In the recent past, many startups have tried (with varying levels of success) to increase the adoption of alt currencies through various digital innovations, as well as via the spreading of knowledge and awareness (in regard to currencies such as ETH, BTC etc) to regular market investors. However there still exists today, many tangible issues related to availability, proximity, accessibility, and know-how that are impeding the widespread use of cryptocurrencies across the globe.
What Is Etcetera?
Etcetera is an all new “crypto service” that aims to make use of a novel distribution/ functional approach to address problems related to accessibility, availability within the blockchain domain. From a more technical standpoint, we can see that Etcetera makes use of a business model that is quite similar to that of Ethereum and Bitcoin, and thus in doing so, is able to provide potential investors with a product that is based within a stable, market verified infrastructure.
Some of the key features which make this platform standout include:
As mentioned earlier, Etcetera makes use of:
- Specialised service modules
- Unique architectural infrastructure
- Distribution channels that are trusted by the market.
Not only that, the technology has also been around for a few years now, and is trusted by leading blockchain developers across the world.
Another key feature of this platform is its ability to execute transfers, payments in a lightning fast manner.
Through the use of Etcetera cards (that will be made widely available to everyone in the near future), users will be able to buy every day stuff (groceries, newspapers etc) in a completely seamless, hassle free manner.
Through the use of its innovative gift card approach, this platform has the ability to increase the flow of capital into the crypto domain.
Easy To Use:
The system has been designed for use by young and old users alike. It will also come with a ‘step-by-step instruction’ booklet that will allow new users to seamlessly switch from/ between regular fiat currencies and crypto assets.
Other Advantages Of Using Etcetera
As per the official company whitepaper, Etcetera will be creating its own “printed offline wallets” that will come loaded with all of the features that existing gift cards come with. To be more specific, we can see that the physical wallets will have the same “look and feel as regular gift cards”, i.e they will come with features such as
- Visible public key (wallet address), as well as a private key,
- Secure protection via the use of a ‘scratch layer’.
Simple Working Mechanism:
As mentioned previously, the cards being offered by Etcetera will be distributed globally through the use of pre existing “gift card distribution channels”. In order to make a purchase, the cards will be scanned, and the required BTC/ ETH amount will be deducted from our account.
Another key aspect of this platform is its use of an API that has been designed primarily to help foster seamless “communication between customers and their local stores”. To be more specific, the API will establish a direct link between pre-existing cash register softwares and gift cards (thereby initiating instant transfers).
Etcetera Mobile App
In the coming weeks, Etcetera will be releasing its very own smartphone application to help assist in easier cryptocurrency use. Some of the core advantages of using this app include:
- Ability to import a wide array of commonly used digital wallets
- Consolidation of different wallets, so as to facilitate easier transactions.
- Performing real time crypto payments.
- Buying and Selling of digital currencies
- Trading of cryptocurrencies via the use of the native Etcetera exchange.
Etcetera ERA Token ICO Details
To make all of the transactions within the Electra ecosystem seamless, the company will be employing the use of a native token that will be abbreviated as ERA. In all, there will be total of 30,000,000 coins that will be created.
Token Allocation Scheme
- 750,000 have been set aside for use by the core development team.
- An additional 500,000 coins will be reserved for use by company stakeholders.
- 750,000 tokens will be used for the creation of a bounty program.
- 27,000,000 ERA will be made available to potential investors during the ICO phase.
- The remaining 1,000,000 ERA will be set aside for the creation of a reserve.
It has also been mentioned that after the conclusion of the ICO, any unsold tokens will be burned. In addition to this, it should be remembered that ERA coins will never be sold via the use of external currency exchanges.
Allocation of Funds
As per the whitepaper:
- 5% of the collected funds will be reserved for legal support.
- 20% will be reserved for the deployment of television commercials worldwide. This will be done to help increase visibility of the company’s gift cards all across the globe.
- Another 25% has been set aside for the further development of this platform (i.e for the creation of the Etcetera exchange, mobile application and API)
- A major 45% of all raised revenue will be used for the creation of an Etcetera cryptocurrency reserve.
- The remaining 5% has been set aside for the further development of the system. This will include research into “crypto enabled debit cards”, and other smart payment modules.
For any further details, queries regarding this platform, company officials can be contacted via email ([email protected]). Alternatively, one can also reach company members via their social media profiles (including Facebook, LinkedIn, Twitter, Telegram, Slack and BitcoinTalk).