Executive Summary & Introduction to Ekta
Executive Summary & Introduction to Ekta
This white paper introduces the Ekta ecosystem, which brings tanglible, real-world assets (RWA) on-chain to connect profit with purpose and create a new economic proposal that rewards and increases access to financial participation and sustainable development. There are 5 core components of the Ekta ecosystem, and 7 core consumer products that utilize these components to bring Web 3 to the masses:
Ekta Ecosystem Core Components:
- 1.EktaChain Mainnet - the blockchain
- 1.EktaBridge - A DApp that enables users to bridge tokens between 2 or more blockchains or networks. This tool is vital in the growth of our ecosystem and instrumental in our ability to scale and integrate with other established blockchains.
- 2.EktaScan - A blockchain scanner that enables transparency in the EktaChain mainnet containing a variety of visibility functions. We have all the tools that web3 has become accustomed to as well as some features that will create a user friendly experience.
- 3.EktaClaim - An integrated function on our mainnet, centralized, to enable users a singular point to execute all claims. This is used for staking rewards, Portal Rewards, and any projects that give out reward benefits on the EktaChain mainnet.
- 4.EktaStake - A DApp that enable the creation and management of staking pools of the Ekta Token
- 5.EktaReadiness - An easy and fast way for users to add all the required components to access our ecosystem. This includes installing MetaMask, adding the EktaChain Mainnet, and all the necessary tokens to your wallet that one might use in our ecosystem. This can also be integrated and customized with any project to create an easy onboarding experience for the user.
Ekta Ecosystem Consumer Products:
- 1.Ekta NFT Marketplace - the hub of Ekta’s utility-based NFT transactions. All projects and partners will bring real world use cases backed by real world assets.
- 2.Ekta Real Estate Marketplace - A Real Estate marketplace application that brings all the opportunities of Real Estate to a global market using the power, efficiency, and transparency of blockchain technology
- 3.Ekta Assets - Ekta’s asset-backed segment of the NFT & Real Estate marketplaces that focuses on tokenizing real-world assets such as real estate, property management, ticketing, venue access, charities, and other utilities and opportunities that reside in the real world
- 4.Ekta Island - Ekta’s wholly owned island off the coast of Bali that is undergoing major development to become a self-sustaining blockchain hub of enthusiasts, students, token holders, residents, and crypto-curious visitors
- 5.MetaTrees - Ekta’s plant-to-earn (play-to-earn) game with real-world utility and positive impact on the environment
- 6.Ekta Portal - An end-node solution that strengthens EktaChain and rewards the operators for providing their services
- 7.Ekta HYBEX - Ekta’s hybrid exchange with both centralized and decentralized features and benefits
Today’s centralized institutions and systems of governance are beleaguered and inefficient. Outdated economic policies have led to the mismanagement and depletion of natural resources while prolonging the cycle of unemployment, debt and poverty.
Ekta’s vision is to create a world where blockchain technology is used to give everyone a chance to live a better life. A new ecosystem is needed, one where people from different backgrounds and socio-economic circumstances can participate freely, without the barriers and inefficiencies introduced by centralized governing bodies.
First, we build
Before we can tackle the macro problems we've described out in our long term vision, we must start with laying the foundation for the Ekta ecosystem. We cannot be in position to affect the systemic change that’s needed without first developing the various branches of the Ekta ecosystem, including:
- The development and deployment of Ekta’s own blockchain (EktaChain)
- Bring on-chain real-world assets through EktaChain and Ekta’s self-developed NFT Marketplace and Real Estate Marketplace App (ERE)
- Physical spaces such as the island chain (Ekta Island) currently being developed in Indonesia, where physical land and real estate assets will be brought on-chain
- Ekta’s play-to-earn game with real world positive impact (MetaTrees)
- The development and deployment of Ekta Portal, which will serve as an endpoint node and rewards owners/operators with $EKTA tokens
- Ekta’s hybrid centralized/decentralized exchange (HyBex)
In 2008, the way that the world viewed value was forever transformed by the anonymous forefather of all cryptocurrencies, Satoshi Nakamoto. What began simply as a new standard for digital transfer through Bitcoin has now rapidly expanded to include a myriad of altcoins vying for attention; as well as new concepts such as decentralized finance (DeFi), non-fungible tokens (NFT), and decentralized trading infrastructure. In mainstream media, it’s widely reported that the cryptocurrency space has been on a rocket to the moon, albeit with the volatility that is to be expected when revolutionary technology and disruptive new ways of doing things are unveiled to the world.
However, most current cryptocurrency projects to date have been built to benefit and reward those already in the industry and community. Their aim has generally been to make processes on existing chains faster and more secure, or incur less fees, especially in the DeFi space. For most common folks who aren’t crypto savvy, they’ve been left out of the ecosystem.
Conversely, the transformative power of Ekta is designed to finally merge the physical world with the on-chain blockchain world. Ekta connects traditional industries and businesses, as well as physical assets, onto our blockchain. By doing so, Ekta creates opportunities to decentralize efficient access to capital from the modern world’s providers—including corporations, lenders, and investors. Ekta brings these opportunities to the people who need it most, employees and their families, borrowers, and entrepreneurs, along with making vital real-world assets such as natural capital more accessible through fractional tokenization and non-fungible tokens (NFTs).
In the world, as we know it, the basic flow of capital from one half of the equation to the other is inefficient and littered with inequalities. Outdated economic policies from corporations, financial institutions, and governments have negatively impacted both our natural world and society at large, contributing to the mismanagement and depletion of natural resources as well as the rise of unemployment, debt, and poverty among blue-collar and white-collar workers alike.
Starting with society, these events often lead to what is known as a mindset of scarcity among the working class. Research has shown that this phenomenon, where individuals experience a mental shift due to a lack of resources, results in the restriction of cognitive capacity and is comparable to losing as much as 13 IQ points.
Today, it is estimated that 27.8 million people are living in poverty in Southeast Asia alone. Despite the fact that education programs and school attendance are improving, most people still work 14 to 16 hours per day. This imbalance results in a society that is constantly under stress, and leaves little opportunity for entrepreneurial growth.
What if there was another way? What if we were able to lessen the poverty gap and help people make better long-term financial choices, enabling them to improve their quality of life and raise their standard of living? What if we were able to build a world where equity and equality is truly attainable? What if we were also able to develop a system that not only protects our natural resources but also helps us generate sustainable profits from their preservation and care?
Ekta will merge the physical world with the virtual world. By decentralizing systems and bringing people from different backgrounds and socio-economic circumstances together in one community and ecosystem, Ekta can:
- provide everyone with the opportunity to participate and build a better life for themselves
- help create profit with purpose through the tokenization of natural capital and property
This ecosystem of communities and holders is what we call the Ekta ecosystem.
- By decentralizing the relationships, we can streamline access to capital, allowing entrepreneurship to flourish,
- By removing the boot of debt and financial distress from the throats of those in vulnerable situations, we enable everyone to breathe, dare to have ideas, and plan for the future,
- By decentralizing governance by the people and prioritizing projects that focus on the sustainability of our communities and environment, we will cultivate a culture of innovative ideas, creating a decentralized and seamless way of managing natural assets and bringing hope to the people living in dire economic circumstances.
Ekta exists to bridge the digital blockchain world with the world we live in and create value in both. By developing economic policies that are rooted in empathy rather than greed, Ekta will build a society that is guided by humanity and altruism as its core principles.
With a focus on sustainability, Ekta will drive the development of projects relating to blockchain, cleantech, wise tech, hospitality tech, clean-ocean startups, alternative medicines, permaculture, and sustainable aquaponics.
As the Ekta community grows, the Ekta Token, Ekta’s digital currency, will continue to stay relevant for token holders and traders, allowing community members to stake, save, lend, and borrow. For the real world, Ekta will provide a decentralized and equitable platform to access capital, education, and opportunity—the necessary ingredients for anyone to have a chance at a better life.