1. "Companies deposit EWT into a payment contract to gain

access to Utility Layer services for a specified number of DIDs over a pre-determined length of time (e.g., one year) called the access period."

I once read that one DID is permanent in life. Is that correct? So let's take an example: Gryphon digital Mining and their plan to integrate the green hash rate solution into their mining facility - For each mining rig they would need one DID i am assuming. They lock up some EWT to get them. Lets say they have 1000 rigs and locked up x amount of EWT to get access to 1000 DIDs for one year. After that year is done are the DID per machine still working fine or do they have to issue new ones by renewing their payment contract for them to work still?

#cryptocurrency #energyweb #english

29.09.2021

16 ответов

23 просмотра

J Free

👀👀

29.09.2021

Kyuubi Автор вопроса

@realMichalBacia in case you missed it ^^

29.09.2021

Michal Bacia

DiD should be permanent. If companies buy DiD subscription from a service operator running Utility Layer service nodes, they pay for it just like for any other software subscription. In the case you describe, EWT is used for payments. So a client needs to buy EWT to cover the subscription costs for one year. After the year, they nee to buy more EWT to pay subscription fees for the next year. EWT are locked in an escrow account to guarantees the quality of service. They are released gradually to the service operator if the quality of the service was good.

29.09.2021

HSV-PORKY

Much appreciated for your answers to these questios.

29.09.2021

Kyuubi Автор вопроса

Thanks for you answer. It makes sense but I was wondering something different. Lets say a company only needs 1000 DIDs because they have only 1000 asset they want to digitalize with DIDs. They lock up 1000 EWT (just an example) for one year. After that year is done their 1000 assets still have the DIDs no? you said they are permanent right. So why would they need to lock up EWT again for the 2nd year if the assets of them still have the DIDs from the first lock up?

29.09.2021

BowWow_666

Good question

29.09.2021

Kyuubi Автор вопроса

Afaik its no paying. It is locking up EWT for this DID service

29.09.2021

Sheeden ◔̯◔

"EWT is used for payments. So a client needs to buy EWT to cover the subscription costs for one year. After the year, they nee to buy more EWT to pay subscription fees for the next year. EWT are locked in an escrow account to guarantees the quality of service. They are released gradually to the service operator if the quality of the service was good." Answer to your question is here I think read it again

29.09.2021

Sheeden ◔̯◔

"They are released gradually to the service operator if the quality of the service was good."

29.09.2021

Ayr

You do pay for your netflix subscription every month because your period ended, right?, well, here is the same :D

29.09.2021

Ayr

Afaik settlements can be made in fiat, ewt is used within the network

29.09.2021

Ardian

Well he said “client needs to buy EWT” and again in some lines down mentioned “need to buy more EWT”

29.09.2021

Ayr

Well yeah, you can settle with ewt too i assume

29.09.2021

Michal Bacia

the prices will be denominated in fiat. This is another reason we need a stable coin. So users can lock EWT and mint stablecoin to pay for services conveniently

29.09.2021

Michal Bacia

all our solutions are open-source. anyone can use them for free, if they want. Enterprises want subscriptions with service level agreements because of convenience, security and reliability (same reason why people use cloud infrastructure vs running own servers). So, the payment for utility layer services covers the delivery of these services at a desired level of quality and reliability. Clients will subscribe for the second year as long as they get good service at a reasonable price. This is what our platform will orchestrate.

29.09.2021

Kyuubi Автор вопроса

Thanks michal

29.09.2021

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