FAQ

Could you explain the functions of a token economy?

The token economy is basically the conversion of real-world assets into tokens , which can then be exchanged and transferred securely. This creates value via ownership rights, security, privacy, and liquidity.

How EVT’s Smart Contract works? What is the Safe Contract?

The most important point is that EVT has developed [safe contracts], an innovation inspired by smart contracts. Unlike smart contracts, safe contracts are much more secure b/c they rely on well-tested APIs rather than just open-ended code. Safe contracts are also faster and more accessible. They are not Turing complete but can achieve the essential functions needed for the token economy, so it’s really a standout innovation by the team.

Why not use Smart Contract?

In the past we often mixed up normal people and developers. For developers smart contract might be good, but for normal people they just don't write code, and even can't read it . They can't do anything unless using 3rd-party service. here 3rd-party service becomes a centralized place. you don't know if the code they wrote is safe. You just have to believe them. But in everiToken everyone can make safe contract and everyone can understand it.

How will token economy affect the regular economy?

It will supplement and even expand the regular economy. By tokenizing assets, we can actually increase liquidity and make assets more accessible. A good example is with freelance consultants. Let’s say Charlie is a consultant and issues token Charlie Token, which lets anyone meet Charlie for a consultation. He can release these tokens to the market now and build up his brand/consulting services. Everyone can see the value of Charlie’s consultations, so it’s much more transparent and creates value for all parties. If Charlie is good, the value of his token will certainly rise, whereas if he is lacking, the lower price will reflect this.

What small/isolated market will everitoken try to corner first before expanding?

We are focused on building the public chain (ie the technical platform); at the same time, we are also working with partners to expand use cases.