Fabric Token

Interesting concept. Cool idea but interested to see how they execute! Good luck Fabric Token!

Interesting idea but it will take a lot to pull off.

Blockchain technology seems to have a bright future. It is used by more and more enterprises and governments to perform many different tasks. The blockchain and cryptocurrency technologies are able to create an efficient, secure and fool-proof system with sufficient room for automation. Experts say that smart contracts and blockchain will have a strong impact on various industries in the nearest future. However, the incorporation of blockchain technology and smart contracts is very challenging due to several factors. They have a lot of advantages, but without the required knowledge and specialists, the key benefits of these technologies get lost. There are not so many developers in the market and lots of them can overlook bugs in different codes. That leads to losses worth of hundreds of millions of dollars.

The solution can be found in the Fabric Token ecosystem which aims to help people and businesses in adopting blockchain technology and its underlying smart contracts by providing a bridge between simple user interfaces and computer-understandable language. Fabric Token platform will eliminate the need for technical know-how or the requirement to hire an expensive development team. In other words the Fabric project solves the problem of the lack of blockchain specialists and current difficulties in decentralized application development by setting up a marketplace and launching the application for smart contract generation. The highly secure Ethereum blockchain will be used by the development team of this project. The Fabric ecosystem will aim to empower businesses and individuals around the world to adopt and access the blockchain technology and smart contracts with easy-to-use software. The Fabric Token platform will consist of four main components – DApp Workbench, TokenGen, Fabric Store and the Fabric Token. The first and the main component of the ecosystem is DApp Workbench. This tool will allow businesses of any size to easily integrate blockchain technology and smart contracts into their business process management. The benefits of building these organizational processes on a blockchain include reduced costs, a better audit trail and the common benefits of digital transformation. The second, TokenGen is supposed to allow people to easily generate smart contracts for the token economy by going through a simple and straightforward step-by-step process. This web application tool will try to bridge the gap between the computer understandable language and natural human-understandable language. The third component is the Fabric Store, which will be a decentralized marketplace for smart contract components. The Fabric Store will allow third-party developers to contribute smart contract components to the platform, further expanding the functionality scope of the proprietary software. The fourth and last is the project’s inner means of payment - the Fabric Token that will be used as a utility to pay for products and services within the platform. Users can purchase the tokens only through token sales. The token holders will be able to use the tokens to purchase smart contract components or services within the ecosystem. The Fabric Token team plans to launch its crowdsale on Feb. 15, 2018. The total supply of tokens will reach 100 millions. The price of 1 Fabrik Token will be exactly USD 0.1125 during the sale. Although the price of this token is in USD, the users have to pay in Ethereum (ETH). Buyers can exchange 1 ETH to 9,000 Fabric Tokens. The fundraiser cap is 80 million Fabric Tokens equaling roughly $9 million or 8,526 ETH. The ICO is going to close either 45 days after the launch or whenever the fundraiser cap is reached. 71.25 million Fabric Tokens or 71.25% of the total tokens will be sold to the public during the token sales, 12 million (12%) tokens will be distributed to the core team of the project (will be released after 12 months), 8. 75 million (8.75%) tokens will go to the Fabric Token strategic advisors (will be locked until the end of the project launch), advisors of the project will receive 7 million (7%) tokens (released after 6 months) and 1% will be used for the bounty program. The team has a small percentage of the tokens and they will be released after 12 months in order to reduce conflicts. The budget allocation is also explained in the WP. 55% of the total budget will be allocated to the core Fabric Token team so as to allow the development of the DApp Workbench product and improvements to the TokenGen tool. The WP does a good job of transmitting the main concept across and there is a lot of background information to provide a backdrop to the reasoning behind this project. It is properly structured with a well-divided index and a classic format. It is not exaggeratedly long neither is it oversimplified. The website has a simple structure and a menu of options that allows everyone to keep investigating about this ICO. In addition to English, it is offered in other languages like Russian, Chinese and Bulgarian. The website contains a lot of facts and information, much like the WP. These illustrate the case at hand and why a solution is needed. There is a roadmap in the website and WP, explained in a clear way and it has detailed information. The team is bolstered by several experts in different fields and areas, backed by advisors in various frameworks. The participants have open LinkedIn profiles where everyone can see their past work and experience. This is really important for knowing who is behind the ICO. Nowadays any blockchain project can succeed only when it is supported by a sufficient number of people. The number of participants in the Telegram chat - about 5,200 members, Slack - about 1,200 members, Twitter - about 1,100 followers, Facebook - 42 followers. The Fabric Token startup was founded in the fall of 2017 and it is still in its early stages now. For the time being (at the beginning of February 2018), there is not a beta version of The Fabric Token Ecosystem nor MVP.
There is one little criticism of the project - the name of it. “Fabric” sounds somewhat familiar for me. It is like the well known Hyperledger Fabric project of The Linux Foundation! I guess, that it is a coincidence.
Fabric Token project was able to combine a group of experts in different fields and offer a product that seems to have a good future. Overall, it’s a good idea with a nice vision and I hope that the project with this experienced team will be successful.