E3hubs, the largest incubation hub in South East Asia, is embarking on a grand blockchain project by creating a global digital economy platform that is powered by its native token, E3T. The platform will enable E3hubs entrepreneurs to perform all forms of economic activities that will create economic value that might rival the GDP of some countries.
E3T is an entrepreneur digital token. E3T stands for E3 Tokens and E3 stands for “Entrepreneurs Empowering Entrepreneurs”. Hence we are creating the 1st entrepreneur token to be used among entrepreneurs globally. E3 Token is the native utility token that powers the E3 Digital Economy Platform. It is a private and permissioned Ethereum Blockchain Network. E3 Token will power all activities within the E3 closed-looped business ecosystem.
In every token economy, liquidity is very important. E3 Tokens need to be utilized in order to create a flow, a movement of tokens from buyers to sellers within the token economy. The flow of tokens is key to an economy. We are creating our own economy which means that E3T has to be accepted within our entrepreneur community.
E3T is unlike Bitcoin. Many will hold Bitcoin investments but that also means that Bitcoin price will be subjected to fluctuation. E3T is different. The power of E3T lies in the community to create the utilization. This is where the E3 Digital Economy Platform comes into play, connecting entrepreneurs, corporates, NGOs, government agencies, investor communities and other major entrepreneur stakeholders in the global entrepreneur economy.
How can this be achieved? We are developing local ecosystems in each of the cities we are in and each of these local business ecosystems will be joined together through a digital platform to create a global business ecosystem. This digital platform is known as the E3 Digital Economy Platform where entrepreneurs, mentors, investors, corporations, businesses, academics and government agencies converge to empower each other towards creating global businesses. E3T will be the medium of exchange within the E3 Digital Economy Platform.
Initially, E3T will be used among E3Hubs members and in the medium term, E3Hubs’ partners will accept E3T as a medium of transaction. In the longer term, E3T will be the utility token of choice used by entrepreneurs as a medium of exchange in the entrepreneur ecosystem. This is made possible because of E3Hubs initiative to build hubs globally.
Utilization of E3T
The list of token utilization in the E3 Digital Economy Platform is non-exhaustive. Among services that we want to provide on the E3 Digital Economy Platform are:
1. E3T is an Internal Cryptocurrency of the E3 Platform
- E3T will be used as an internal cryptocurrency to pay for events, mentoring services, and training courses. It is borderless because all the aforementioned transactions can happen on a global scale. For example, a coach can create an online mentoring service or a webinar on the E3 platform, and members from any part of the world can pay for the service using E3T.
- Besides that, E3T can be used for E2C transactions and E2E transactions, where members buy goods and services from physical outlets owned by members.
2. E3T as Payment for O2O Marketplace
- E3T can be used as payment for the O2O marketplace. Members can buy things on the e-commerce marketplace and pay by COD mode via the E3 mobile POS terminal.
3. E3 Global Marketplace
- The E3 blockchain platform is not only minting tokens but also includes a global E3 marketplace that allows members to trade digital and non-digital products and services, and pay by E3T via E3 payment gateway. Transfer of asset ownership will be done based on smart contracts and it can be tracked and traced using E3T block explorer to avoid dispute.
4. Sharing Economy Powered by E3T
- Sharing business models such as AirBnB-style office space sharing, ride-sharing, carpooling, etc all can be done using E3T.
5. Peer-to-Peer lending platform to provide short financing to Entrepreneurs.
- A member can request a microloan in the form of E3T from another member on the E3 P2P lending platform. Approval of the loan can be executed based on the smart contract.
- E3T token holders will be able to deposit their E3T tokens and earn interest.
- The tokens placed in deposit, will be used to provide short term financing to entrepreneurs who need a short term working capital loan.
6. Equity Funding platform for E3T token holders to fund entrepreneur projects.
- E3hubs will set up an ECF platform by partnering with some ECF players for members to raise funds via the platform using E3T. In the near future, E3Hubs will apply for a crowdfunding license from the Securities Commission of Malaysia. Matching is done automatically using the smart contract based on certain terms and conditions.
- Entrepreneur projects will submit their application for funding
- E3T Members will vote for which project to fund and get rewarded with E3T tokens for their votes.
- Projects that were voted positively will be put onto the equity crowdfunding platform.
- E3 will pool tokens from E3T token holders and invest in the projects.
- E3T token holders will earn medium term and long term upside of the investment via dividend and equity buy-back.
7. Cross Border Money Transfer and Payment
- E3 Digital Economy Platform can facilitate cross-border payment for goods and services. This will speed up transaction time and reduce business financial cost.
- Cross border money transfer can be conducted using E3T by reducing many intermediaries, thereby saving cost and time. We will make the cross-border money transfer seamless using E3 mobile POS app, just need to scan the QR code and pay. This will further enhance E2E trading among members of different countries。
8. Cross Border Money Transfer
- E3 Platform can facilitate cross border money transfer between individuals who are E3T token holders.
9. E3 Academy
- The creation of E3 Academy is to facilitate life-long learning and entrepreneurship education among our entrepreneur members.
- E3 Academies will be created in every country that E3Hubs operates.
- Payment is facilitated using E3T.
10. E3 DApps and E3 Blockchain Incubator
- E3Hubs will create Blockchain Incubators in each country that it operates. The intention is to identify good DApps which can be developed and sit on top of E3T Blockchain. The proliferation of DApps on E3 Digital Economy Platform will increase the utilization of E3T.
- By leveraging on the E3T PoA network, members can create all kinds of dApps using smart contracts and trade them on the E3T platform and transact using E3T. Besides, the E3T tech team will develop a dApps builder in the future so that members can create any dApp without having to learn how to code smart contracts. Therefore, the usage of E3T can be further enhanced through dApps creation and trading.
11. E3T Tokenized Asset Trading Platform
- Expensive assets like property can be tokenized and sold on E3 tokenized platform using E3T as a medium of exchange.
12. E3T Multifunctional Wallet
- E3hubs will develop a multifunctional mobile wallet that comes in iOS and Android versions. It can perform the following functions:
- Create an account (keys+address) and store it securely, transfer funds and make payment (can accept different types of cryptocurrency or tokens)
- Token swap function
- Market watch function
- Get a reward for recommending a friend
E3hubs is committed to making E3T one of the top utility tokens in the world and will strive to build E3 into the world’s largest digital economy platform for entrepreneurs.
There is many more usage of E3T that we can create in the future. The point, which I want to illustrate here, is that the potential of E3T is massive because we are dealing with a massive entrepreneur community. It is not only massive but also very disruptive.
It is important to note that if there are uses in E3T, there is value created. The demand for E3T will reflect the value of the E3T. And the value of E3T will grow as the community becomes bigger as more and more E3Hubs are created around the world.
We envision that within 10 years, 1% of the country’s GDP in which E3Hubs operates (or has a hub), will be transacted using E3T.
In the long term, E3T will have its advantages for different groups of people in the crypto world.
To the Entrepreneur Community, E3T will be the common currency that entrepreneurs around the world will use. Entrepreneurs will also be able to access to alternative funding and have better access to market via the E3 Digital Economy Platform. Thus is the immense power of E3T in the global economy.
For the Investing Community, E3T will provide another avenue for investors to invest in venture companies and see their exponential growth due to the power of the community within E3 Business Ecosystem. The investing community will have another way to maximize their investment profits.
For Governments, E3T will be a form of alternative financing for entrepreneurs thus reducing the burden of government agencies to roll out grants and monies to support the entrepreneur ecosystem. E3Hubs will be able to work with government agencies to jointly organize events, activities, workshops and incubation programs, which can be paid by E3T through participation or by members’ voting to fund projects using E3T.
For Businesses, they can enjoy alternative financing as well as have more transparency in the way business transactions are conducted. Businesses will be able to receive their payment speedily through E3T and will be able to roll their working capital quickly.
E3T’s potential can be realized because of the community that we are building, the power of the community, the utilization of E3T to create demand and supply and the long term advantages that E3T will create to the Entrepreneur Community, Investing Community, Governments, and Businesses.
(Written by: Andrew Wong & Dr VK Liew)