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eQuid Builds on Bitcoin Technology for Greater Social and Economic Impact

The mission of eQuid is to provide a platform for new currencies with specific goals to seamlessly be injected into the economy through labor, resulting in job security and a healthier, cleaner planet. eQuid builds on the technological breakthroughs of Bitcoin and other emerging digital currencies, but takes the model further.

Why do we need eQuid?

The world needs eQuid in order to mobilize available workers to solve problems that no one knows how to pay for.

What niche does eQuid fill that Bitcoin doesn’t?

Bitcoin first brought the concept of digital currency to the public eye, but the Bitcoin model only scrapes the surface of the potential of an innovative digital currency. The blockchain technology that Bitcoin pioneered will be instrumental in building out the eQuid network. But Bitcoin limits its own ability to create jobs or improve the environment by the way it is mined and then primarily traded for traditional currencies, tying it to the economics of the traditional money system.

eQuid applies the concept of mining to accomplishing real-world projects that solve needs that previously have never been able to get consistent funding, rather than limiting the mining, and thus the currency generation, to digital coding operations.

Why does eQuid need to do a crowd fund to get started?

Crowdfunding campaigns are an effective way to raise money, but more importantly, they raise awareness and support. eQuid needs money to build the digital infrastructure that will support the network, but it also needs members to join the network. There is no point in building a new digital currency platform if no one is willing to use it. By raising funds a few bucks at a time, we will populate the network with users while building up the capital we need to launch.

Couldn’t eQuid line up traditional startup funding?

The goal of traditional startup funding is make a few people rich in return for their risky investment. Startups that seek out early investors must answer to them for their direction and performance later on.

eQuid will resemble a public company, owned by its members, from a very early stage so that all the users of the network will benefit from our success. The startup funding space only works for ventures that have the capacity to make more money for the investors, and they typically must focus on that single bottom line. We see money as an important part of the equation but we also see value in people and the planet. We don’t want to put ourselves in a position where we have to change our model to produce more money if we are meeting our goals for people and the planet, so we want to be careful about working with typical startup investors.

The failure rate among startups also concerns us. When 95 percent or more of all startups fail, perhaps the funding model is flawed. Too many consumer-oriented startups introduce products that already exist or that people don’t really need and fight over a stable set of potential customers.

How can entrepreneurs benefit from eQuid?

eQuid will open a whole new world for entrepreneurs to innovate, build and create in previously underfunded sectors of the economy. Our network is designed to improve the success rate for startups. We would like to see 95 percent of new ventures succeed.

How much participation do you need to launch?

Our first step is to validate the market. We want to have 1,000 people signed up and ready to participate before we launch. We also need to get donations of Bitcoin or dollars equal to $100,000 so we can build out Phase 1. This includes a very simple and easy to use interface, and continued investments in building up participation and interest in the network. Once we meet our goals we will begin Phase 2 (read our white paper for details).

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Mercredi 5 Octobre 2016