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The eFiat Blockchain
eFiat is an enterprise-focused consortium blockchain and smart contracts platform processing private transactions within a permissioned, members-only network of known participants that is customizable to various business requirements.
eFiat is built upon the Ethereum blockchain that supports private transactions and smart contracts that derive from a single common blockchain validated by every nodes within the specific network.
eFiat is decentralized, secured, transparent, and immutable but also capable of restricting the rights to view, modify, append and approve transactions to selective members.
eFiat Smart Contracts
Create your Smart Contract
How eFiat Blockchain works?
eFiat blockchain architecture is built upon the core Ethereum blockchain modified with our own algorithm. Its smart contract indexes are hashed and published to private POA Ethereum while the smart contract codes are encrypted and stored off-chain into IPFS to ensure it achieves both maximum level of decentralization and high transaction throughput.
Its codes are written in smart contract language Python which is superior to Web3.js in scalability, AI integrations, and Machine Learning capabilities.
A private blockchain solution for financial institutions
eFiat Blockchain offers a solution to improve transactions and financial contract executions among financial institutions through the use of blockchain and enhanced smart contracts. eFiat Blockchain allows participating financial institutions to archive customer information and transactions securely over a distributed data infrastructure, without compromising customer privacy or sensitive business information.
Our enhanced smart contract framework based on Python allows for automatic payments and enforcement of obligations as well as commitments based on specified events, such as certification of death for insurance claims, settlement of a forward contract on expiry based on underlying asset price, penalties for late repayments on loans. The use of smart contracts allows automation of these processes, elimination of the middleman, reducing human error, increasing efficiency and lower transaction costs.
Financial institutions can take advantage of blockchain because of a number of reasons: greater transparency driven by its consensus mechanism, enhanced security due to its decentralization, improved traceability given its auditing trail capability, increased efficiency, and reduced costs by eliminating the need for middlemen. With the use of blockchain, old processes and paperwork can be replaced.
eFiat prototype is a fully functional blockchain ecosystem
eFiat has successfully deployed its first prototype in 7/2018 to showcase its abilities to potential network partners, investors, and developers. Any individual can create an account with eFiat today and immediately able to store and transfer Ether within eFiat Blockchain, to and from any public Ethereum addresses, while also able to create peer-to-peer private smart contracts by using our templates that would be published to eFiat’s blockchain.
Sign Up Smart Contracts
We empower smart contracts to do more!

There are two main problems with smart contracts:

Problem 1: Smart Contracts just aren’t accessible for those without programming knowledge.

Programming knowledge is required for smart contracts because the terms of the agreement are directly written into the code. It currently requires someone with specialized technical knowledge to make edits and updates to the contract. For example, to interact with smarts contract in Ethereum, you need to learn web3.js, a JavaScript framework for interfacing with smart contracts over Ethereum Blockchain.

Our Solutions

eFiat aims to make smart contracts more accessible, by enabling everyone to utilize the technology without requiring specialized knowledge, by providing easy-to-use user interface and smart contract templates. Users are able to simply select what they need and fill in the information to create a smart contract customized to their needs.

Problem 2: Smart Contracts are not really smart!

Currently available smart contract technology is not very smart. A typical smart contract is no more than a digital and encrypted contract verified by blockchain. If you rent your house to your tenant by using smart contract-based tenancy agreement, you would still need to remind your tenant to pay rent if your tenant has forgotten to do so.

Our Solutions

We are developing a Python-based smart contract language, which is more intuitive and easier to learn than web3.js. It readily interacts with real world data and allows the enforcements of obligations and commitments. Developers can use our smart contract language to program the terms, invoke payments and enforce obligations and commitments, including payment processing between two parties such as lenders and borrowers, interest rates calculations, late penalties, etc.

Our nodes are acting as small robots and are programmed to closely monitor smart contracts. They will take actions when a contract term requires execution. In the above tenancy agreement, our nodes will automatically trigger a send money request to deduct rent from tenant's wallet and send it to the landlord's wallet. The process can be finished instantly and is recorded in eFiat Blockchain.
Applications of eFiat Blockchain

Consumer Tokens (will be delivered in 2018 Q2)

We have provided our blockchain solution to a media portal for their members to use as a consumer token to purchase goods and services both online and offline. This consumer token is based on eFiat blockchain and our self-developed wallet app. It supports online token transfer, QR Code payment, and shopping cart integrations.
Real Estate Blockchain

We have partnered with a Real Estate IT company that had engaged in building an online platform for the real estate business which connects proprietors, buyers, tenants, and real estate agents. It will provide a wealth of resources and an effective platform for the real estate blockchain development.

We will start by enabling smart contract in real estate purchasing agreements, tenancy agreements and we are looking to extend our solution to real estate contract, and mortgage deed contract.

Usages of eFiat Smart Contracts
eFiat Team
Hello, I am Henry Chui. I am the co-founder and chief executive of the eFiat blockchain.
I was the former CEO of edutech mobile app startup Zapzapmath and former Sr Lead at Microsoft Advertising & Online for Global Emerging Markets. I managed a team of 40 with Zapzapmath and during that time was able to close a pre-A round valued our startup at US$5.5M. I have 18 years of strategy, financial planning, and general management experience in FMCG, Travel & Hospitality, as well as technology. I was first exposed to blockchain technology in 2017 and have been fascinated about its potential ever since.
My core strengths are in the areas of strategy development, startup growth management, fund raising, financial management, sales & digital marketing, public speaking, people relations, and executions. My passion is to go after difficult challenges and tackle them one at a time relentlessly, giving my 100% all the time.
I manage the startup with integrity, frugality, and a strong sense of purpose. I have a strong reputation as a good people manager that inspires others to achieve things that they did not think possible. I am a talent magnet.
Hello, I am Allen Au. I am the co-founder and chief architect of the eFiat blockchain.
I have cofounded multiple Fintech startups during my earlier career. I currently the chairman of an equity crowdfunding platform Mr. Crowd that I cofounded in 2016. Mr. Crowd is a funding portal registered with the US SEC and a member of the FINRA. I was the co-founder and CTO of Finet, a Hong Kong-listed company (stock symbol: 8317.HK) with its principal business in the provision of financial information solutions and in the securities business.
My 20 years of experience spent primarily in Fintech. I am familiar with how financial institutions work and regulatory compliance, and have been studying emerging technology trend within the financial sector very deeply. I had the idea of creating a payment system that utilizes the blockchain technology ever since I came across it a few years ago.
I have the ability to build a blockchain platform singlehandedly. My product teams have always filled with high achievers and many are still working with me in some capacity.
Hi, I am Paco Leung, the co-founder and early investor of eFiat. I established my first startup CC Information Limited in 2006, a company operates two personal financing portals, HongKongCard.com and HongKongLoan.com, providing information that helps the individuals to compare and understand various personal financing products in Hong Kong. Today, hongkongcard.com can be considered one of the largest credit card information portals in Hong Kong.
In 2015, I've launched another project called LikeJapan.com, a website providing Japan travel guides, culture, entertainment and air-ticket information. We have accumulated over 430K FB fans and is one of the largest media channels in Hong Kong. I have extensive experience in working with various financial institutions such as banks, and have identified blockchain technology as the potential solution to many of the operational headaches we experience with banks today. I am also the partner of equity crowdfunding platform Mr. Crowd, and is a proven serial entrepreneur when it comes to building a new company from the ground up.
I am Tom Chiang, a founding memeber of eFiat. I am a young and energetic tech entrepreneur and developer who possesses profound I.T. knowledge, considerable blockchain development experience and an extensive background in project management and operations.
In 2014, I helped the Department of Architecture and Civil Engineering of the City University of Hong Kong to develop an e-Platform for Innovative Green-going Strategy (e-PIGS), which is an online platform for teachers and students to maintain their learning materials and a communication network among teachers and students.
I have extensive experience in managing HTML5 web projects, including “The Bloom of Youth” (thebloomofyouth.com) in 2013 and “Sortviews” (sortviews.com) in 2012. I have worked with Allen Au on various different FinTech projects over the past decade, and is currently fully devoted into eFiat as our do-it-all developer.
eFiat in action at the London Tech Week - Shanghai 2018

We shared our vision on how to tackle the lack of interoperability between smart contracts and real-life usage.
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