EncryptoTel update: preparing to enter the market
We have a series of updates for the community, as we continue to build our tech and look ahead to rolling our platform out with real-world partners!
After a successful crowdsale, EncryptoTel has worked hard to develop its core tech and is now preparing to enter the market. As we look forward to seeing our platform deployed by business partners, we want to update the community on a number of different matters.
Exchanges and white paper updates
When we held our token sale early last year, the regulatory situation for blockchain was still unclear. Over the course of 2017 and this year, that has changed as the SEC and other regulators took a keen interest in blockchain technology and ICOs. As a part of these developments, exchanges have also come under pressure to list only those projects that can be considered utility tokens or payment tokens, rather than securities.
Elements of our original white paper have discouraged exchanges from listing ETT, because they flag the EncryptoTel Token as a security. These include our intention to buyback/burn tokens, and the voting rights tokens would give holders. One exchange we have worked with took the time to pinpoint problematic sections of text in our white paper, for which we are grateful. While we are committed to delivering value to our token holders, at this point the evolving regulatory situation and its impact on exchange listings means that we have needed to adjust these elements within our business plan. As a result, we hope and anticipate that exchange listings will now be easier to procure. This has been our understanding according to the vast majority of exchange managers with whom we have discussed listing our token.
The situation with Cryptopia and C-CEX has forced us to make these changes in the document very quickly. Next year, our legal department will present a more detailed and accurate white paper with a road map. For now, the updated white paper can be found at EncryptoTel_WP_v1.1.pdf.
Partnerships and conferences
EncrytoTel recently presented its technology at a major telecommunications conference. This is an important strand in our strategy to engage with businesses and promote the use of our platform. We have already signed one major partnership at the end of last year, and look forward to more as we increase our outreach and activity.
Upcoming beta testing for investors
About six months ago we gave you all access to our cloud platform to let you see how our services are growing, with some of the code made available on our GitHub. Now it’s time for a further update.
In the next month, we will present a new way to communicate anonymously! The tech overview and details will be published along with the release. Note: NOTE: To activate this service you must have a positive ETT balance at pbx.encryptotel.com.
EncryptoTel PBX v. 1.0 is coming
After a long period of development, we will soon be ready to present the first stable version of our PBX. After this significant step in our history, we begin to enter the market and prepare promotional materials for conferences and presentations.
As you know, we developed our swap service for EETT/WETT tokens, which offers a bridge between the Ethereum and Waves blockchains. Soon we’ll be adding some new features. V. 0.3 will include:
- Request tab (allows users to request a balance refill as soon as possible)
- Updated market statistics on ETT
A few days ago, we started to test our new frontend for the main website , encryptotel.com. We are still continuing our work and would appreciate any feedback. Email email@example.com with your ideas.
New PR department
Now that our tech is sufficiently complete, we are ready to expand this process for awareness and marketing. To those ends, we have hired Tatiana Maximenko as our Head of PR.
Tatiana has worked in the technology departments of several large banks, and has been involved in the blockchain industry since 2014. She is one of the founders and former editor-in-chief of CoinFox.info (one of the largest international crypto-media outlets) and founder of her own PR agency. She has also organised entrepreneurs’ meetings with Vitalik Buterin and the R3 consortium in Russia.
We originally launched EncryptoTel as a token on both Waves and Ethereum. Both platforms have unique advantages and functionality. However, there are also restrictions on the use of individual blockchains and functionality that we will still support, and which are not offered by any platform.
We have therefore take the decision to develop a new blockchain, which we have called Encry. This is an open source project that will offer all the features we need on one platform, designed from the ground up for the telecommunications industry but with functionality that will make it more widely appealing to businesses and ordinary users. Encry is being funded personally by the project’s founders, Igor Bityutskih and Roman Nekrasov, and not with another ICO or with funds collected for EncryptoTel. This is being developed independently of EncryptoTel’s activities, by a separate team and by volunteer contributors.
We plan to publish the Encry white paper in the next few months. If the community agrees, then after the platform is launched, we will move EncryptoTel tokens (WETT and EETT) onto the Encry chain. At that point, we will decide the correct relationship between the two projects, and whether ETT should be swapped for Encry’s native coin or if it should be a token on the blockchain (as it currently is on Waves and Ethereum). There are no plans for an ICO, and the product is fully open source. You can see Encry’s activity in the GitHub repo, and join us if you are a blockchain dev: firstname.lastname@example.org.
To keep up with news and development updates, follow https://medium.com/@encryptotel. Remember that investors can always access their personal account panel at my.encryptotel.com, where they can track our company’s activities and other developments. We will be updating this shortly.