ETHMS Ethereum is a smart contract trading platform found online at ETHMS.io. Find out how it works today in our review.
What is ETHMS?
ETHMS Ethereum describes itself as “a platform that facilitates sharing and trading of smart contracts over the Ethereum blockchain.”
The ETHMS ecosystem consists of an online marketplace where people around the world can trade, exchange, or share smart contracts easily, with trust and security. The ecosystem has its own token, called ETHMS, to ensure smooth and cheap transactions between users.
Why do we need a marketplace to buy and sell smart contracts? Who would want to buy a smart contract? Here’s how the team describes it:
“As usage of smart contracts increases with greater adoption, there will be an increasing desire from users looking to trade smart contracts, each of a different applicable nature, with one another. We see a need for a common ground to bridge these users together, enabling them to trade, exchange and share smart contracts.”
It sounds weird until you realize that people can secure properties in smart contracts. You might want to buy a property in Asia, for example, so you buy a smart contract for a property in Asia from the ETHMS marketplace.
ETHMS also calls itself the “Ethereum Shares” platform. The tokens are called ETHMS tokens or “Ethereum Shares Tokens”.
How Does ETHMS Work?
With ETHMS, a buyer might hold a smart contract for the ownership of US dollars, while the seller holds ownership of real estate in Asia. Using the ETHMS marketplace, these parties can now create a third smart contract as an escrow, allowing for the purchase of the same property – but without added time and cost.
The Ethereum Shares platform aims to be useful for more than just property trading. The platform will manage coins, companies, and other types of digital assets. The goal is to simplify the sale of assets or services for money across countries.
ETHMS tokens are ERC20 tokens that can be stored in any ordinary ERC20-supporting wallet. The token is called the Ethereum Shares Token, or ETHMS. Only 600 million tokens will ever be produced. ETHMS is the main internal cryptocurrency used for payments in the EtherShares ecosystem.
Uses for ETHMS
Why would you need to trade smart contracts with other users? What kind of smart contracts could you buy and sell? Here are some of the proposed use cases for ETHMS:
- Trade, including international trade secured with GPS tracking
- International trade that’s secured by regulations and document control (in this case, Ethereum Shares has a special feature that allows users to attach additional files to a contract, like document scans)
- Domestic trades
- Service providers
- Offline services, including offline contractor services
- Long-term contracts with delayed payments or installment-based payments
- Contract chains, where some contracts are stored inside other contracts (like when a mobile phone manufacturer needs to assemble multiple components to create a single phone)
- Real estate deals involving cryptocurrency payments and escrow
- Multilateral contracts with three or more counterparties and activation on different dates
- Smart contracts that represent property renting with IoT devices (i.e. smart locks)
Ultimately, smart contracts can be used to secure all different aspects of our modern life. ETHMS wants to give users a platform where they can easily trade smart contracts – regardless of what those smart contracts represent.
The ETHMS Ethereum Token Sale
The ETHMS token sale is scheduled for January 4, 2018 to March 12, 2018. Bonuses of 20 to 30% are available at the beginning of the sale, dropping to 4% by the end of the sale.
Who’s Behind ETHMS Ethereum?
ETHMS is led by Daniel Adams (CTO), David O’Connor (COO), Igor Popkov (Chief Finance Officer), Sanjiv Malhotra (Chief Technical Officer), Chris Thompson (Business Development Director), and Glad Tan (Chief Information Officer).
Adams is described as a “blockchain industry research expert” who founded Ethereum World.
ETHMS Ethereum Shares ICO Conclusion
Smart contracts are gradually being used to govern multiple aspects of our world. They’re growing increased legal relevance. However, it’s difficult to buy, sell, and trade smart contracts. That’s a problem ETHMS seeks to solve. ETHMS creates an online marketplace where global participants can buy, sell, or trade smart contracts using ETHMS tokens.
The token sale for ETHMS tokens is underway until March 2018. To learn more, visit online today at ETHMS.io.