Forbes: ICONOMI blockchain platform Internet finance crowdfunding received $6 million

Rage Review : ICONOMI blockchain platform is known as the Uber of blockchain fund management. It started ICO on the 26th of this month and has received $5.93 million in financing. The deadline is the 29th. The company has released the world's first cryptocurrency price index ICNX, and ICN token holders will have ownership of the platform. Uberization is the practice of introducing alternatives to change the market or a certain economic model. The company's project can prove that Uberization is currently the best choice to improve market services.

Translation: Annie_Xu

Dubbed the Uber of blockchain fund management, ICONOMI raised $6 million, making it the third-largest crowdfunding project to date. The founders of the project must prove that the company’s “uberization” (introducing a cheap and efficient alternative that changes a market or an economic model) is not only applicable to “consumer-level” services, but can also start “inevitable changes” in the financial industry.

ICONOMI is the first blockchain and cryptocurrency fund management platform located in the blockchain innovation "nerve center" of Ljubljana, the capital of Slovenia. On the 26th of this month, it announced that it had raised $5.93 million in equity and operating capital through its initial public token pre-sale (ICO). ICO is an effective way for investors to participate in crypto venture capital.

The founding team of the project is the online service company Cashila, which is the first registered Bitcoin company in Europe and is classified as a financial institution. ICONOMI based on Ethereum is building a so-called "disintermediation alternative" to replace the multi-billion dollar fund management industry and "Uberize" traditional Wall Street.

Cashila, with offices in Prague and Brno, Czech Republic, was founded in 2013 by Jani Valjavec and Tim M. Nagar, co-founders of ICONOMI. Cashila connects the traditional banking system with Bitcoin, enabling easy daily bill payments with cryptocurrency so that anyone can make payments easily, anytime, anywhere. This allows Bitcoin holders to trade, making Bitcoin withdrawals safe and cheap, and the company claims it has zero exchange rate risk.

ICONOMI is only 20 minutes away from Bitstamp, the world's only licensed and regulated Bitcoin exchange, and has attracted 2,400 investors and raised more than $6.3 million. In the past 30 days, ICONOMI is currently ranked 20th in terms of the amount of funds raised among crowdfunding projects.

ICONOMI’s Director of Technology and Trading, Valjavec, is the company’s crypto and application token expert and a well-known figure in the blockchain community. “We find that crowdfunding is becoming a financing option for all industries, even high-end industries such as financial technology. With this, ICONOMI can start the inevitable transformation of the financial industry.”

investor

The ICO deadline is the 29th of this month, and potential investors still have a chance. After that, token holders will have 100% ownership of ICONOMI.

ICO supporters will receive ICN tokens, representing equity in a new fund management platform with the fastest growing blockchain application in the financial sector as its core. ICONOMI is communicating with domestic and foreign investment institutions, but cannot yet disclose their names.

The crowdfunding started in 2016 with a fund of $7 billion, and the total amount of all cryptocurrencies has now exceeded $12 billion.

In this way, investors can participate in this fast-growing market for the first time by investing in various types of ICONOMI funds.

ICONOMI said the activity is completely transparent and will provide "foundations, infrastructure, and guidelines" for the platform's funds. The expected returns and risks of various funds are divided into different levels.

The first ICONOMI fund was announced last week at the Ethereum developer conference DEVCON2 in Shanghai.

ICONOMI released ICNX, the world's first cryptocurrency price index, during DevCon2. ICNX will become the basis for ICONOMI's ETF (Exchange Traded Fund) category investment fund, which will be launched in the fourth quarter of the year.

ICNX (ICONOMI.INDEX) is an index investment fund composed of many popular cryptocurrencies, which can minimize volatility. ICONOMI.PERFORMANCE is an actively managed fund with high return expectations and is managed by certified expert traders.

Investors can already browse ICNX (ICONOMI Cryptocurrencies Index). Two funds are expected to be launched in the fourth quarter of 2016. In 2017, you can buy custom funds created by well-known traders.

Unlike traditional fund management, ICONOMI investors can reportedly easily withdraw or freeze their holdings at any time, sell ICONOMI tokens on major exchanges or use ICONOMI VISA debit cards, which will be linked to the account holder's share of the ICONOMI investment fund.

Large banks store all fiat funds. Trusted custodian partners hold all cryptocurrencies with multi-signature.

Asset security is of utmost importance to ICONOMI developers. They have developed state-of-the-art protocols, including a unique ICONOMI random hardware key generator, extensive use of encryption technology, and multi-factor authentication for withdrawals.

Token Holders

Once the ICONOMI Fund is launched, ICONOMI token holders or shareholders will receive weekly profit dividends in the form of Ether. The dividends come from the transaction fees of the ICONOMI Investment Fund and the transaction fees of independent traders. The ICONOMI Fund Management Platform will list the details and refer to the fee sharing system.

Investors who purchase ICONOMI’s ICO tokens with fiat currency will need to comply with EU Anti-Money Laundering and Know Your Customer Directives (AML, KYC) and verify additional investment levels.

Tim M. Zagar, co-founder and director of operations and business at ICONOMI, who has been working on blockchain full-time since 2013, said ICONOMI’s “success lies in proving that Uberization is the best option for both consumer-level services and beyond.”

“People are very hopeful that platforms like ICONOMI will eliminate intermediaries and facilitate capital entry into the cryptocurrency space.” The ICO ended on September 29th, and we cannot be sure whether the future will rely on ICOs as much as it does on venture capital and IPOs. It will bring about great changes.