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Ethnamed

Ukraine, Kyiv city
Market: Internet and IT, Blockchain, Crypto currency, Mobile applications
Stage of the project: Prototype or product is ready

Date of last change: 03.07.2018
Min investment
$  50.000
1
Total required
$ 500.000
Rating
equalizer 225 из 1000
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Idea

Crypto Paypal. Naming Service and Multi-Currency Wallet

Current Status



Currently I am testing the prototype on testnet. Ready to migrate in mainnet and start sales.

Market

Early crypto world.
We are improving the Metamask by adding BTC, LTC, DASH support and also naming service.

Problem or Opportunity

Let's look at domain names that have been created to ensure that people do not write the ip address 172.217.16.14 since it is much easier to remember the email. This simplicity is the Genesis of the World Wide Web. Domain zone is first decentralized system created by mankind. With the growing popularity of the Internet, millions domain addresses were sold. This is a huge and highly profitable market for registrants. Now there are 2943 registrants. A full list can be found at ICANN | ICANN-Accredited.

Solution (product or service)

Therefore, it is logical that the need to establish a decentralized system of binding emails (or domins) to addresses.
But we do not need to create the DNS, since we already have a smart-contracts of Ethereum that allow you to program the logic addresses already existing in the decentralized environment. We implemented the multi-currency wallet which can work as Metamask but for several coins like BTC, LTC, DASH, ETH, allow to register the human-readable name for them and also It will allow developer to use web3 interface and integrate it with their websites.

Competitors

ENS - Ethereum Name Service.

Advantages or differentiators

ENS created DNS implemented on Ethereum but I am very experienced blockchain developer and noticed problems of ENS. ENS does not allow to bind addresses with existent domain addresses when Ethnamed allows.

Also we are adding feature to let people bind addresses with email to simplify it in different ways.

Finance

we sell names bound to the crypto-addresses. The protocol is implemented and it allows to buy a name only for 1 year. Then you need to buy it again

Business model

We need money as a tool to make it popular.
We tokenize 1 million name registration units and sell tokens to early investors.

Price of the name for a 1 year - 0.01 ETH
Price of the token is - 0.001 ETH
Needs tokens to register the name - 1
Total Token Supply- 1 000 000

People will be able to buy a name and price will be 0.01 ETH but also they will be able to use your token in order to buy a name.

It means the market price is 10 times higher than token price :)

When the network becomes popular you will be able to transform $50 000 of investments into the $250 000 or more




Money will be spent on

Marketing - 90% (Cointelegraph, Bitcoinist, ..., Partnership, Roadshow)
Mobile Version - 10%

Offer for investor

I have described it above and will repeat it again here

Price of the name for a 1 year - 0.01 ETH
Price of the token is - 0.001 ETH
Needs tokens to register the name - 1
Total Token Supply- 1 000 000

People will be able to buy a name and price will be 0.01 ETH but also they will be able to use your token in order to buy a name.

It means the market price is 10 times higher than token price :)

When the network becomes popular you will be able to transform $50 000 of investments into the $250 000 or more

Risks

The possible risk is that marketing will take 6 month - 12 months.

Incubation/Acceleration programs accomplishment

GrowthUP Acceleration.
Forklog Early Investment

Won the competition and other awards

I do not like computer competitions but I have opensource projects. One of them nixar (http://askucher.github.io/nixarweb/#/) has 794,402 https://npm-stat.com/charts.html?package=nixar&from=2015-03-12&to=2018-03-01

I created it in 1 week.

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video