Many companies have received a lot of attention over the past several months after announcing plans for an ICO. But the revenue-generating potential of an ICO is now starting to attract the attention of cities, and even entire countries. The city of Berkeley California recently said they are thinking about using an ICO to raise money for different community projects.
Leaders are reportedly considering plans to sell digital tokens that are backed by community bonds in order to help fund Berkeley’s endeavors with affordable housing and the homeless. Right now, officials aspire to create a citywide cryptocurrency ecosystem that would give more financial independence from the federal government.
Venezuela’s oil-backed virtual currency got a pretty big boost forward after several Brazilian businesspeople recently agreed to ship food to the nation in exchange for the cryptocurrency. The group is said to be interested in investing about $300 million into Venezuela, which will start once the petro digital currency starts its presale on February 20th. Perhaps a dose of capitalism will save the failing socialist economy?
The cryptocurrency has been the subject of much controversy after President Nicholas Maduro announced the plans. Naturally, United States officials have warned the existence of the digital coin could be in violation of sanctions against the country, and said any potential investors could be at a massive risk if they do decide to buy in. A Treasury spokesperson said, “(It) is another attempt to prop up the Maduro regime, while further looting the resources of the Venezuelan people.” This may be true, though there’s also a strong case for sanctions having an equally negative impact on the people of Venezuela, who have turned to Bitcoin mining, and trading in currencies like DASH to make ends meet.
The small overseas territory of Gibraltar also made waves in the ICO world after lawmakers said they are going to think about regulating them in the future. The Gibraltar Financial Services Commission said their efforts would “represent the world’s first set of bespoke rules for tokens.”
Optimism within the ICO market as a whole continues to remain strong as more and more people start to consider one. The number of legitimate and potentially world-changing offerings only continues to grow week by week.
We have been watching a few ICOs that seem to have some interesting ideas and are also coming out this week. Keep in mind, we are not financial advisors. Please talk with an experienced and professional financial advisor before spending money investing in an ICO or in cryptocurrency.
This week we’re going into depth on CrowdCoinage (CCOS), Jury.Online (JOT), and Narrative (NRV). We dug deep into each of these projects, and here’s what you need to know about the underlying value of each and why they might be worth investigating.
CrowdCoinage is looking to create a one-stop-shop for launching an ICO so businesses and people can go through the entire fundraising process in a free decentralized environment. Jury.Online is hoping to serve as a dispute resolution platform for the digital currency marketplace, and Narrative is looking to be a global journal where content creators and moderators can be rewarded in an autonomous environment. Keep reading to get the details on each of these projects, to decide for yourself whether they’re worth getting into.
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