Vancouver-based Etherparty, which is currently conducting a digital token crowdsale to help fund further development on its user-friendly smart contracts platform. As of Oct. 3, it has raised USD $30 million.
The aim behind the innovative Blockchain product is to enable the masses to easily use the Blockchain platform that requires no prior programming experience from the user. This means that small to medium sized businesses may not use Smart Contacts efficiently which used to be only available to those with heavy technological backgrounds.
Blockchain and Smart Contracts
In order to understand the business implications of tools like Etherparty, one first needs to understand a little bit about Blockchain technology and Smart Contracts.
Blockchain technology, first made popular by the cryptocurrency application protocol Bitcoin, enables parties to conduct value transactions over any network, without establishing prior trust. Blockchain is a publicly distributed and transparent database, allowing anyone to verify transactions and participate in commerce on the network.
Smart contracts are small portions of code placed on a Blockchain in order to govern the interactions between parties. The challenge lies in creating the smart contracts in the first place. Blockchain is a relatively new technology and can present a steep learning curve for companies entering the space.
Kevin Hobbs, CEO of Etherparty shares:
“Etherparty is the portal to the blockchain for easy smart contract creation to be able to bring the technology to the masses”.
Etherparty saw this coming back in 2015 and began working on a visual and user-friendly smart contract publishing platform aimed at non-programmers. Now, in pre-release, Etherparty is raising funds through selling their FUEL digital token that will be used to power publishing smart contracts on the platform.