There are way too many ICOs being launched from time to time and only a few of them have delivered. However, Etherparty is one of the exceptions.

Update: Etherparty ICO has completed in 2017.

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Disclaimer: This article does not endorse or recommend investing in cryptocurrencies. This article should not be taken and viewed as investment advice, but only information and opinions. This article is for information and illustrative purposes only.

What Is Etherparty?

EtherParty is a product of The Vanbex Group, a member of the Enterprise Ethereum Alliance (EEA). For those who don’t know about EEA, the Enterprise Ethereum Alliance connects Fortune 500 enterprises, startups, academics, and technology vendors with Ethereum subject matter experts.

Etherparty is a platform that removes the complexity and management of creating and executing smart contracts. It is, in fact, inspired by Counterparty, a meta-protocol on Bitcoin that made it easier to issue tokens, and had/has some other features such as a distributed exchange.

In other words, Etherparty is a P2P and Enterprise platform that will enable anyone (with zero knowledge) to write smart contracts across multiple blockchains. The platform which uses FUEL tokens allows users to sign up, pay with these tokens (ERC20) and pick out a contract from a library to execute.

Presently, the UI/UX for creating smart contracts is not good. Etherparty aims to solve that problem.

Smart contracts can be difficult to understand because they reflect the complicated nature of contract law. In the past, service-oriented contracts had to run through a centralized service like a middleman or company. This poses a threat to the security and freedom of the clients because it creates a single target for potential attacks.

When Ethereum came into the picture, it solves that problem with smart contracts. Smart contracts allow for a number of possibilities, including provable, hedging coins, and even coins within a coin. However, it brings more complication to the development side of the things.

The complexity of programming languages and the cost of the process hinder many brilliant ideas to be materialized.

The value proposition of providing pre-built smart contract templates for many general use-cases which no-technical users can use to deploy on Ethereum is one of the best DApp platforms that is badly needed in the Ethereum ecosystem.

Hence, Etherparty is introduced to provide a cloud based platform for Ethereum smart contracts. The goal is to make smart contracts as easy and accessible as possible on any blockchain like Wix did for websites and LegalZoom did for legal documentation.

The biggest help of this platform as promised is that these templates will be audited and also cost less gas in comparison to stand alone smart contracts as they are derived from a master contract template.

With Etherparty, you are able to create decentralized autonomous applications with a few lines of code. With Etherparty, you will not need to install anything else like Geth, Meteor, or Mist to run Smart Contract and it works directly with the Ethereum network so there is no delay for software to sync to quickly execute a contract.

Is It Worth Buying FUEL Tokens Through Their ICO?

We, in our opinion Etherparty will be big and it is going to stay. There isn’t much strong ICOs in the market and this is a pretty solid one that we believe it is worth holding on for long-term. The product of a company which is part of the Enterprise Ethereum Alliance (The Vanbex Group).

Vanbex Group specializes in consulting, communications and development for blockchain businesses. Their services include Consulting and Strategy, Marketing and Communications, Blockchain and Smart Contract Technology and ICO Fundraising and Investment Marketing.

The Vanbex Group was established in 2013 as a strategic communications organization to better tell the story of the companies in the blockchain industry, and has since evolved into a professional services firm that specializes in all aspects of the Blockchain industry.

As you can see, many ICOs are launched without a proper product in place. Conversely, Etherparty is live now and can be demoed on the Ropsten testnet. The current implementation allows users to create crowdfunding contracts (like the kind behind a token sale) and places baseball sports bets. They hope to expand the library of tested smart contract templates, offering a la cart contracting services similar to LegalZoom, with applications in insurance, supply chain management, digital identity, and more.

The other reason why I believe in Etherparty is it shares the same view as those who see the future of smart contracts. Yes, smart contracts will change the world. The concept of smart contracts has gained a lot of attention in recent years. A “world computer” like the public Ethereum network, or a computing environment that is trusted and verifiable between parties in a smaller group like a consortium blockchain, is a tremendously powerful thing.

However, not every one of us knows exactly how to deal with smart contracts. That’s why Etherparty plays an important role here to allow non-technical people to create smart contracts. Several ICO’s products have essentially been graphically-friendly templates that allow the user to generate smart contracts, and their smart contracts generally require some interaction with the sub-network’s token system.

Whether you like it or not, it is going to stay. Why? Their work through Vanbex puts them deeply in touch with many parts of the industry. We think they will develop an initial user base quickly and that the company will thrive.

Use Cases of Etherparty

The Etherparty platform will create a library of smart contracts aimed at a variety of industries, including banking and finance, trade, healthcare, supply chain management, insurance, foreign exchange trading, real estate, digital identity, and more.

#1 Financial Services

Present Problem: Managing a payment process with another party can lead to discrepancies, error, and confusion. Whether a personal agreement or business contract, there is room for mistakes, disagreement, and lost paperwork.

Solution: A smart contract binds both parties to steadfast rules that function exactly as written, eliminating the possibility of disagreement. Etherparty handles the security to make sure your contracts aren’t vulnerable to tampering, providing a completely trustful payment process.

#2 Manufacturing

Present Problem: Tracking goods and information can be a hassle and a lengthy process given a complex amount of conditions in a value chain and the reliance on paper based systems. This problem becomes worse if tracking needs to be done across international lines.

Solution: With Etherparty’s enterprise API, integrating any information system into the platform will be simple and streamlined. Writing a smart contract will bring all parties onto a single shared ledger (the blockchain), which is faster, more secure, and more transparent to all parties involved.

#3 Cross-Industry

Present Problem: From a simple wager between two private citizens to maintaining a record of data, the internet has turned commercial interactions into a digital arrangement.

Solution: Smart contracts and blockchain technology can alleviate concern over a breach of contract or the veracity of a digital record. By establishing appropriate terms, Etherparty makes it easy to create a smart contract which will auto-enforce the agreements as outlined by each party. Further, a smart contract can hash a record to the blockchain, which removes any degree of ambiguity over the digital upload.

#4 Legal

Present Problem: Lost paperwork, uncertainty over whether something has been filed, missing information over the handling of sensitive documents.

Solution: Business formation and corporate filings stored in a shared ledger, information is immutable and indisputable, and authorizations and access to documents are recorded.

Who is Behind Etherparty?

Kevin Hobbs, CEO of The Vanbex Group. He is also the Founder of The Genisys Project. He brings over a decade of management experience to the Firm after working in a variety of professional roles. He is interested in how Blockchain technologies innovate how business is done in the future.

Lisa Cheng, the Founder of Etherparty. Her specialties include Enterprise Software, on Premise, on Demand, in the Cloud, Big Data, Analytics, SaaS, Business Development, Strategy, Communications, Product Launch. Her background includes Fortune 500 companies, enterprise sales, big data, and SaaS. In addition to that, she was building websites on Lycos.com as early as age 15. She previously worked at Mastercoin, a non-profit supporting the development and innovation of Bitcoin technology.

Brian Onn, the lead architect for Etherparty and he is also Vanbex’s senior lead developer and architect. He has over 30 years of experience as a developer. He has worked with the blockchain since early 2014 when he developed a Bitcoin and altcoin trading platform.

Who Have They Worked With?

How to Get FUEL Token?

FUEL Tokens are the key to using Etherparty, they manage the contract library, security testing, network fees, monitoring, and management of the entire smart contract process.

A subscription-based platform is the perfect use of a token – the value of access to that platform then helps determine the speculative value of it, giving analysts and traders a clear baseline to navigate from.

FUEL is a transferable ERC-20 compliant digital token deployed on the Ethereum network and is the in-app currency that powers the Etherparty platform.

It is planned that one (1) billion total tokens will ever be created. 10% is allocated to Etherparty 5% to the team and 5% to the platform to be sold on the platform. 10% will be used to incentivize the community, beta testers, enterprise clients.

The total supply will be one billion FUEL tokens and will never be increased beyond this cap. The smallest unit of FUEL is one wei. Tokens that are used on the platform will go back into the platform supply.

During the official public sale, you will get 3,000 to 1,275 FUEL tokens with 1 ETH from October 1 – October 31, 2017.

IMPORTANT: Read How to Buy FUEL Token (Etherparty)? | Step by Step Guide

Disclaimer: The content above should not be taken and viewed as investment and trading advice, but only information and opinions. This article is for information and illustrative purposes only.