What is an ICO?
In this video, HiP founder Kai Peeters and ICOs Explained. Peter Bill (columnist for the Evening Standard and author of Planet Property) interviews Kai Peeters HiP founder and explains everything you need to know about ICOs.
What is an ICO?
Google “hip property ICO” to help us decentralise the real estate market and to get maximum token discounts.
In 2017, ICOs (Initial Coin Offerings) have generated over $3.3 billion, so it’s a relevant and important question. The problem is, many people are baffled by the whole thing because they feel confused about the whole blockchain and bitcoin thing. As HiP is aiming to revolutionise the property industry, we thought it would be a good idea to bring a real old-skool property expert to the table to quiz me on ICOs. That’s why we got the brilliant Peter Bill, author of “Planet Property” and former editor of Estates Gazette to grill me on this subject to try and and make it so understandable that my Gran would get it.
HiP is aiming towards an ICO in 2018. If you Google us, you will find the early bird signup page and, soon, our white paper. If you get on the list early, you’ll benefit from bigger token discounts. What is an ICO? According to Wikipedia, this sums them up: “The term may be analogous with ‘token sale’ or crowdsale, which refers to a method of selling participation in an economy, giving investors access to the features of a particular project starting at a later date. ICOs may sell a right of ownership or royalties to a project, in contrast to an initial public offering which sells a share in the ownership of the company itself. According to Amy Wan, a partner at Trowbridge Sidoti LLP practicing crowdfunding and syndication law, “The coin in an ICO is a symbol of ownership interest in an enterprise — a digital stock certificate, if you will.” In contrast to initial public offerings (IPOs), where investors gain shares in the ownership of the company, for ICOs the investors buy coins of the company, which can appreciate in value if the business is successful. At least 400 ICOs have been conducted as of August 2017. Ethereum is (as of August 2017) the leading blockchain platform for ICOs with more than 50% market share. The Ethereum network ICOs have resulted in considerable phishing, Ponzi schemes, and other scams, accounting for about 10% of ICOs. Newer coins based on the Ethereum blockchain have developed some controversy through the selling of what is tantamount to “securities” in the form of ICO tokens. These developments have created an evolution in the ICO release marketplace towards the new “utility” token replacing the typical token. Utility tokens such as those released by Blockmason and Deedcoin have become the next generation of ICO based token, providing useable value on a blockchain enabled network infrastructure replacing current industry models.”
