ICON Foundation
Aug 4, 2017 · 2 min read

Source: THEblockchain (View Original)

//Translated from Korean Language//

In Korea, the second ICO (Initial Coin Offerings) is official. The procurement amount target is 37 billion won, which is far ahead of BOScoin in the first ICO.

DAYLI Financial Group, which can be called the “Fintech Alliance,” has decided to raise money by launching ICON, which aims at a decentralized network where various blockchain communities are connected.

DAYLI Financial Group established the ICON Foundation in Zug, Switzerland, a nonprofit foundation.

ICON is already linked to various communities such as banks, securities, insurance, hospitals, universities and e-commerce. According to the website of this month’s ICON Project, Blockchain ID, payment & exchange, Distributed apps (Dapp Service) can also be used outside of specific communities.

For example, ICON allows securely sign electronic signatures from other communities using blockchain IDs issued by brokerage firms, and coins paid by hospitals can be used to settle or exchange money in other communities.

The Foundation decided to raise the amount to 150,000 euros (ETH) through the ICO.

At 3 pm on the coinmarketcap.com, 1 ether (ETH) is $ 220. If you convert 150 thousand dollars into dollars, it is 33 million dollars (about 37 billion won). The foundation said that if the target amount is exceeded, the amount will be refunded in full.

The token to be issued by the ICON Project is 1 to 2,500 exchange rate with the ICX. The total number of tokens to be supplied is about 400 million ICX.

Three key organizations will play a key role in the ICON Project.

The Foundation will contribute to the community in a variety of ways, including fundraising. theloop, one of the blockbusters in the DAYLI Financial Group, will develop ICON Nexus and various smart contracts.

DAYLI Intelligence provides DAVinCI, an artificial intelligence solution to be applied to ICON, to help establish optimal distribution policies.

Meanwhile, ICON Foundation will launch ICO pre-sale this month, and will go public on sale in September.

Lee Seong-ju reporter lee@theblockchain.kr

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[ICON official community]

Homepage : https://icon.foundation
KakaoTalk : https://open.kakao.com/o/gMAFhdS
Medium (ENG post) : https://medium.com/helloiconworld
Brunch (KOR post) : https://brunch.co.kr/@helloiconworld
Reddit : https://www.reddit.com/r/helloicon/
Twitter : https://twitter.com/helloiconworld
Facebook : https://www.facebook.com/helloicon/

Hello ICON World

ICON is one of the largest blockchain networks in the world. ICON boasts independent blockchains comprised of reputable institutions in major industries.

ICON Foundation

Written by

Founded in August 2017, the ICON Foundation oversees the ICON project's core activities which includes the promotion and development of the ICON protocol.

Hello ICON World

ICON is one of the largest blockchain networks in the world. ICON boasts independent blockchains comprised of reputable institutions in major industries.

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