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About

CodeTract aims to bring users the ease of on-boarding to the Ethereum network, with the goal of mainstream adoption. They streamline the user experience of transacting and trading on the Ethereum network by doing away with the hassle of on/off-boarding through many centralised exchanges and dealing with unfamiliar currencies units. Ethereum, being a Turing complete blockchain[1] with practical scaling plans have huge potential to be the common network processing transactions of value. These transactions used to take place through physical cash in the past. With the advancement in technology, this common network has quickly developed into a cashless medium through the use of internet banking and credit card transactions. Peering further into the future, there is a positive outlook that public Ethereum might be the next common network. Our goal is to identify current deficient areas and work on them to make Ethereum the network of choice for any transaction of value.

Being Turing complete, proxy or substitutes of current services can be internalized in Ethereum, we will then be able to do away with on-boarding and off-boarding and transact through Ethereum from start to end. The fundamental step to promote transactions through Ethereum is for individuals to receive their salaries through an Ethereum transaction and in the same way, expense to organizations through Ethereum transactions. Then organizations would be able to pay salaries through Ethereum transactions, getting rid of the on and off-board process.

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