Etch, a new Blockchain-based payroll system which allows employers to pay workers second by second, has announced it is raising £5million to develop the platform through a token sale which started on Monday 18 September 2017 at 6:00 PM UK time (BST) and will last for one month.
Etch is the first approved decentralised app (dapp) in the London-based Construction Blockchain Consortium, a group of leading UK champions of disruptive technology who are transforming the building environment.
People using Etch will be paid in the currency of their choice and it even allows for part payment to a family member home or abroad. It will use an innovative payroll card that will be accepted at millions of locations worldwide. Additionally, the system allows those who do not have bank accounts to be paid securely.
The Etch system will use its own token, called the Etch Token (symbol: ETCH). Denbighshire-based Euros Evans, a Blockchain technology expert, is the CEO and driving force behind the Etch Foundation. Euros Evans said, “Billions of the world’s population live paycheque to paycheque, a situation that can lead to mounting debt, stress and poor health. Etch’s solution enables employers to pay their employees in real time. If, for example, they don’t have any money at the beginning of the day, their morning’s work will mean they have enough money for lunch and other purchases.
“When people are being paid as soon as they’ve earned it, we can reduce the need for payday loans and other such instruments to plug spending gaps, as well as improving employees’ peace of mind.
“We will use Blockchain technology to unify payroll and remittance services to create a platform that not only benefits employees, but reduces business inefficiencies, saving them time and cost in payroll.”
Euros is supported by a team of innovators including Etch CTO Tomasz Mldouchowski, a former MIT student of computational physics and supercomputing. Tomasz has worked on a number of technology projects and is also a technology consultant for a number of financial institutions.
As well as Euros and Tomasz, Etch has a talented technical team including engineers Joshua Richardson and Denis Lukianov, and digital entrepreneur Ben Whyte. Joshua is a Blockchain engineer and programmer who deployed his first commercial software at the age of 13. Denis created a prototype for Bitcoin future’s exchange and invented Compact Confidential Contracts in 2015. Etch Community Manager, Ben Whyte ran his first business at the age of 14 and later became a Blockchain consultant and business developer.
Etch also benefits from a wealth of knowledge from its advisors including Technology Entrepreneur Ross Laurie, who said, “Payroll is a highly emotive subject and can be a source of much distress for employees and contractors. This system can work in every industry with every currency. The Etch system will be aligned to successful and ethical firms whose leaders wish to pay people in a timely way with minimal paperwork.”
For more information about the Etch token sale please visit https://etch.work.
- Fight to Flame – Mike Tyson Denies Issuing Token and Working With Fight2Fame - August 17, 2019
- Bitcoin Wealth is Almost 50 Times More Concentrated than Global Wealth According to PARSIQ Research - August 16, 2019
- Graph Blockchain Signs LOI to Acquire Cyberanking Ltd. an Esports Company - August 16, 2019
- Blockchain Moves Into The US’s Largest Oil Fields With Data Gumbo - August 16, 2019
- BlockStar Teams Up With Cycling Apparel Brand De Marchi to Auction Fausto Coppi’s Cycling Jersey - August 16, 2019
- Zcoin Available to Five Million Merchants in Thailand - August 16, 2019
- Republic Partners with Althea to Launch First-Ever Compliant Security Airdrop for Retail Investors in the U.S. and Abroad - August 14, 2019
- Mark Cuban’s Dallas Mavericks Basketball Team Join Up With Bitpay To Accept Bitcoin For Tickets And Gear - August 14, 2019
- Mike Tyson Launches Fight to Fame – Crypto-Driven, Blockchain-Fueled Fighter Booster - August 14, 2019
- Blox Survey: Ninety-Five Percent of US CPAs Believe Clients are Not Disclosing All their Digital Assets and Transactions - August 13, 2019
- New Zealand Allows for Employee Payments to be Made in Cryptocurrency - August 13, 2019
- USA SEC Postpones Decision on Three Bitcoin ETFs - August 13, 2019
- Cryptocurrency Thefts, Scams and Fraud May Exceed $4.3 Billion For 2019 - August 12, 2019
- China’s Central Bank Gears Up to Launch it’s Own Cryptocurrency - August 12, 2019
- Overstock: Retail Traders Can Now Invest in STOs at tZERO - August 9, 2019
- Merj Rolls Out The First-ever Official Listing Of A Tokenized Security On A Regulated National Stock Exchange - August 9, 2019
- Commerzbank And Daimler Trucks Test Machine-to-machine Payments On Blockchain - August 9, 2019
- Africa’s Youth See A Future For Bitcoin Beyond Speculation - August 8, 2019
- Blockchain VR Network Set to Launch - August 8, 2019
- China’s LiveDAO To Tap 5G Tech for Live Broadcasting - August 8, 2019