On Our Initial Community Offering

Offering Community >>> Offering Coins

Emaline Friedman
Dec 22, 2017 · 8 min read

Initial Community Offering 101

What are the details of the organization doing the ICO?

Holo is an organization incorporated in Gibraltar. Why? Because Gibraltar has the most clear, definitive, and pointed existing framework for ICOs and cryptocurrencies. Excuse the brag, but we actually worked with the legal team writing the regulations there to dually ensure compliance and to put in our two cents about what makes an Ethical ICO. You’ll know if you’ve been following Holochain’s ongoing development that Holo sprouted very recently out of the need to create the conditions in which a *truly agent-centric* computing system might be adopted, thwarting *truly creepy* fully-automated systems that want to wipe out trust rather than taking more responsibility for its organic growth. So in a nutshell, when you participate in the Initial Community Offering, you support Holo’s development of the network and of the tech that makes it work.

Hosting P2P Apps for Mainstream Users

So how is this community structured? To create conditions that allows multiple actors, not only thrive, but to create a new meta-social organism, we’ve had to take into account all facets of a highly innovative economy. Sharing economy principles have taught us about excess capacity. Since Holochain’s architecture abandons the need for consensus algorithms that hog most of the network’s capacity, the network’s capacity can actually be used to make mainstream adoption possible! Where full nodes on different blockchains had to churn and burn in order to keep track of every transaction on the chain, full Holochain nodes are freed up to dedicate their capacity to hosting distributed apps so that they can be accessed by a web browser.

Introducing Double-Entry Crypto-Accounting

The first thing you should know about Holo is that, despite the fact that we offer credits to be exchanged for services in the form of ERC20 tokens (smart contracts on the Ethereum blockchain), our cryptocurrency is actually a crypto-accounting engine that uses NO COINS and NO TOKENS. The creation of the Holo community in question involves a purchase using Ether, the currency native to the Ethereum blockchain. However, almost as quickly as they’re purchased, these tokens are destroyed and replaced with Holo fuel credits.

Flows and flows and flows and flows…

Security Law Compliance

Even though we’re not selling tokens or coins, we’re still quite obviously swimming in the seas of cryptocurrency. For the SEC, what defines whether or not a cryptocurrency is a security depends on the characteristics and use of that particular asset. The​ ​ERC-20 ​Tokens that we issue in the short-term, those that are exchangeable for the decentralized hosting service Holo provides, are​ ​not ​securities because you don’t hold rights or equity in the Holo organization. At the end of the day, Holo is accountable for providing hosting whether or not it is capable of growing the network.

HOLO

Post-blockchain technology, value-stable cryptocurrency, and peer-to-peer hosting of scalable, distributed apps. Now is the time for popular access to an equitable, decentralized web! https://holo.host

Emaline Friedman

Written by

Network activist for the Commons, PhD in Consciousness and Society

HOLO

HOLO

Post-blockchain technology, value-stable cryptocurrency, and peer-to-peer hosting of scalable, distributed apps. Now is the time for popular access to an equitable, decentralized web! https://holo.host