The Hungarian rooted ENVIENTA project started its preliminary token issue on 1st July (ICO private token sale).
The aim of the project is to help to spread the open source philosophy becoming more and more common in hardware development industry and to support the life cycle of the products, made this way, from the idea to the realization. The idea of the open source hardware is not new, however, there has been no attempt to gather all the participants in this field on a common platform in order to support cooperations.
ENVIENTA, however, is not only a business venture! Social benefits and sustainability have always been a part of the basic conception. The founders are expecting solutions from the open source hardware developing community to problems such as the increasing threat of global water crisis due to climate change, sustainable housing or a totally off-grid, self-supporting lifestyle. In addition to this, the project places a strong emphasis on education, and with the decentralization of production and development processes, it can create new jobs, mainly in the countryside, which may slow down migration to the cities.
The creation and operation of such multiple participants, a heterogeneous system is not simple, using traditional solutions would put an enormous administrative burden on the participants. But ENVIENTA thinks they have found the ultimate solution in the form of the blockchain. The commotion of values between the participants is realized with the project’s own cryptocurrency, the ENV, and the agreements between the participants are regulated by smart contracts running on the Ethereum network.
The ENVIENTA platform provides a surface that is easy to handle covering the blockchain based system in the background from the participants. The open source, the allowing licenses and the project based structure also support the simple handling because there are no lengthy patent procedures, anybody can join the development. Participants can meet each other through an intelligent search system.
The above mentioned commanding goals require an accumulation of minimum $3M (soft cap), and a maximum of $18M (hard cap) starting capital by the project, which makes the construction of the basis of the infrastructure possible. Raising capital happens in a way already conventional in blockchain projects, in the form of ICO, where investors get the system’s own ENV cryptocurrency in exchange for the amount they paid, which enables them to use the services of the system. During the ICO 42.5% of the capital is going to be allocated. The greater part of the remaining capital is spent on the development of the operating ecosystem. The final goal is to create a global ecosystem operated by smart contracts, which might activate a huge, currently “inert” innovational potential and may enormously speed up launching an invention.
If you are interested in the project more than skin-deep, please, visit the webpage of the project at https://envienta.com/
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.