The root of the word Organization is organize, which calls out the fact that organizations are a structured entity comprised of smaller functional units. The human body is a systematic organization of various organs like the heart, limbs, brains, and bones etc. We aim to achieve a similar level of efficiency when we set up organizations for our work. I know it because I tried.
The current crop of Organizations evolved from partnerships between two or more individuals collaborating within mutually beneficial parameters, to achieve a common goal.
While people have largely learned to work together in the office environment, the tyranny of distance is still a major deterrent in seamless collaborative efforts.
Issues as basic as a difference in time zones have caused many organizational endeavors to shut shop. Again, I know it because happened to me.
Deterrents to Organizations
Distance — As the distance between the collaborators to a project increases, so does the probability of miscommunications.
Legal compliance — Different jurisdictions have different interpretations of what is legal and what is not. This adds another layer of complications.
Scope definitions — Due to legal complications, the scope of business gets modified too to stay on the legal side of the law.
Costs involved — All of the above add unnecessary costs which cannot be borne by startups and companies in their early stages.
Effort capturing — Since collaborators are provided remuneration for their efforts, it becomes difficult to track efforts of collaborators located globally.
Productivity assessment — As people collaborate, more than efforts, productivity needs to be assessed. It is difficult to track that in the traditional scenario.
So, how does one navigate the intricacies of multiple overlapping legislation and the tyranny of distance?
Welcome to eInc
I came across eInc while doing my homework of researching the best ICO white papers. When reading a white paper, the first thing I look for is the polish. If it is too polished, I immediately know that it is an outsourced job. Ask yourself, if the ICO can't take the time to write their own white paper, how will they find the time to build their product?
eInc has a two-pronged solution in the form of the eInc Blockchain, and the eInc dApp (decentralized application). While the eInc Blockchain is the superior alternative to the Ethereum Blockchain, the eInc dApp is the evidence of its superiority. I was pleasantly surprised by the mention of the word dApp. These dApps are what will unleash the true power of the Blockchain in my opinion.
Forked from the Ethereum Blockchain, the eInc Blockchain offers more than twice the speed of conducting transactions, at a fraction of the cost. This means that deploying Smart Contracts is faster and inexpensive than on the Ethereum Blockchain. With gas prices climbing, running smart contracts on the main Ethereum network will be the first of many challenges that me-too ICOs will face, sooner or later.
Instead of running from pillar to post to get your company registered in the least regulated jurisdiction, you can reserve a name of your organization on eInc and you’re done. The organization name reserved on eInc will be your virtual blockchain based organization and the immutable, transparent, and secure eInc Blockchain is your jurisdiction.
Let’s talk about effort tracking and productivity assessment first. The fundamental properties of Blockchain are transparency and immutability. So, when an organization is incorporated on the Blockchain, it ensures that all activities can be tracked effortlessly and seamlessly. Instead of seeking productivity reports and tracking efforts through tools such as JIRA, you can just do a Blockchain scan and access the entire activity trail.
The eInc dApp, by virtue of its Blockchain’s immutability, allows the organization to maintain the same standards and the same protocols, irrespective of the geographic locations of the collaborators. Smart contracts to ensure the individual delivery of commitments are implemented in the eInc dApp, so that the bureaucratization by intermediaries is controlled and minimized. Thus, when a collaborator commits to provide website designs, he/she will be compensated for his/her efforts, only when the website designs are delivered in accordance with the predetermined parameters. The organization’s productivity as a whole rises because it is no longer carrying dead weight as a burden.
Expenses made on resource acquisition and utilization is also decreased because:
Intermediaries are reduced
Remuneration is delivery-oriented
Cost of incorporation is significantly lower
Legal and regulatory compliance is in line with industry best practices
Since the eInc based organization is inherently and radically transparent, the investors of these companies are never kept in the dark regarding the day-to-day activities of the organization. This level of transparency leads to increasing investor confidence and increased investing periods and amounts.
Another effect of eInc’s transparency is that the organization will have to be fully compliant with industry best practices. Nefarious activities such as bribery and fraud are eliminated because all such activities will be available for everybody to see and report. Such transparency is a deathblow to to all illegal activities and white-collar crimes that the world faces today due to opacity in tracking the process flows.
Conclusion
The eInc dApp is just one example of the potential of the eInc Blockchain. With its first dApp alone, eInc has solved the ICO conundrum. In the traditional ICO, the company registers itself, or a subsidiary in a crypto-friendly country, physically, and then performs the remaining activities digitally. This means that the ICO token issuer has to abide by the rules of the host country, with some rules drawn from laws that are over 100 years old.
On the eInc dApp, the organization is on the Blockchain. It does not need to register itself physically. Thus, the eInc dApp not only helps existing companies move to the Blockchain, but also allows prospective companies conduct their ICOs and their token generation events, with or without SAFT. One can only imaging the savings accrued when one does not have to set up brick and mortar shops to raise ICO money.
It frees the organization from the shackles of distance, regulation, intermediation, and ballooning expenses. Coupled with the transparency and security offered by the Blockchain, eInc provides a win-win solution for the investors, regulators, and most of all, for the organization itself.
I'm sure that DApps are the future and the eInc platform has hit the nail on the head.
The possibilities are as endless as Ethereum but with baked in enhancements to the Blockchain, at a fraction of the cost.