News in the ICO world over the past few days has focused on a couple of high profile stories. Venezuela’s oil-backed ‘Petro’ cryptocurrency saw its ICO kick off on Tuesday. President Nicholas Maduro announced plans to launch a virtual currency back in December to purportedly help raise money for state coffers and to open up new financing options.
The announcement was met with a flurry of criticism from leaders across the world who see the endeavor as a way to circumnavigate sanctions levied against the nation. President Donald Trump banned economic transactions with the new digital currency about the same time the ICO started.
On the other side of the world, a major blockchain project in India reached a key fundraising target. Zebi, which looks to become a leading blockchain network in the country, said they successfully reached a $10-million-dollar hard cap. News outlets also reported the company finalized a big data contract with the government of an Indian state and submitted proposals to a couple of others. Zebi is looking to take advantage of interest within the Indian government regarding blockchain technology to eventually morph into a company that gives people the ability to create dApps.
As teams across the globe continue to fundraise different projects through ICOs, regulatory agencies are keeping a sharp eye on the industry to shut down offerings they see as potentially fraudulent. Financial regulators in Hong Kong forced an ICO from Black Cell Technology to cease after expressing concerns it was an “unlicensed regulatory activity.” Black Cell was looking to build a mobile food marketplace to help farmers and shoppers, but the move by Hong Kong’s Securities and Futures Commission puts the project in serious doubt.
Overall optimism with the cryptocurrency and ICO market is still high thanks to the vast amount of legitimate offerings out on the market. While scams always seem to dominate headlines, many ICOs give investors the opportunity to contribute towards projects and ideas that will change the world.
We have been watching a few ICOs that seem to have some interesting ideas and are also coming out this week. All we are doing is just presenting online information from a variety of different resources. 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 EtherSpin (SPIN), StopTheFakes (STF), and MDL Talent Hub (MDL). EtherSpin is an online gambling platform, StopTheFakes plans to help companies reduce the risk of copyright infringement and My Daily Life seeks to streamline and modernize talent booking. 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.
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