The Fabric Token Ecosystem: Building a Bridge to the Decentralized World of Tomorrow
The Fabric Token Ecosystem aims to facilitate the use of DLT and smart contracts by simplifying the process of development and deployment.
Blockchain is a revolutionary technology that can bring dramatic changes to all spheres of life, from financial services to pizza delivery. But despite its huge potential, many people still consider it ‘much ado about nothing’. Not only do they fail to understand how “this blockchain thing” applies to their daily life, but they also consider it synonymous with Bitcoin or Ethereum.
There are certain issues that block our path to a truly decentralized digital future where everyone - regardless of their experience and background - can benefit from distributed ledger technology (DLT) and generate smart contracts for token crowdsales or build and deploy a decentralized application (DApp).
The first issue is that blockchain is a knowledge-intensive technology that requires significant expertise and technical skills. At the same time, being in its nascent stages, it lacks user-friendly interfaces and tutorials. This forces startups and businesses to either drop the idea of using blockchain-based applications, or to hire specialists, which is often financially unfeasible.
The second issue is that blockchain developers are still few and far between, and most of them are still learning and moving forward by trial and error. As a result, it is a real challenge to find a capable professional who can create a smart contract free from costly and dangerous flaws.
Finally, companies find it hard to drop existing business processes and embrace these new models due to their lack of flexibility and their incompatibility with the business processes of their counterparts
The Fabric Token project aims to remove these roadblocks by creating a user-friendly interface platform for blockchain technology and smart contracts. The proposed ecosystem consists of four major components:
TokenGen is a smart contract builder with an easy, step-by-step process. All you need to get a fully tested and secure smart contract is to fill out the details of your contract and choose the required functionality.
DApp Workbench allows companies to model their business processes and create smart contracts by dragging and dropping the required features in order to create their workflows.
Fabric Store is a decentralized marketplace where third-party developers can supplement TokenGen and DApp Workbench with their custom-built smart contract components. Using blockchain technology, the store ensures fairness, proof of ownership, seller protection and legitimate reviews.
Fabric Token is the means of payment within the ecosystem and can be used to buy goods and services on the entire platform.
The proposed ecosystem will greatly facilitate users and enterprises in leveraging blockchain technology and smart contracts.
The Fabric Token ICO starts on February 15th, 2018 and will be live for 45 days after the launch or until the hard cap of 80 million FT tokens is reached. The token price is $0.1125 per 1 FT (ETH is accepted).