There has been a constant buzz circulating around Bitcoin and Ethereum lately, making the crypto space one of the most interesting and captivating markets to watch.
As we venture deeper into 2017, cryptocurrency has proven that it can indeed survive alongside fiat currencies. As a result, major investors and brave individuals are finding fortunes through a “new way to invest” with ICOs – Initial Coin Offerings.
An ICO is a revolutionary process by which cryptocurrency startups raise funds for new ventures. Similar to crowdfunding, ICOs are almost always designed to raise funds for new cryptocurrency projects. During an ICO campaign, enthusiasts and investors will buy some of the tokens of the new cryptocurrency project.
While this form of investing is still an emerging concept, groundbreaking ICOs are being made by interesting companies in the space. One of the most newsworthy ICO investments to date was just made by billionaire Venture Capitalist, Tim Draper, who has bought 10 percent of all Credo tokens ahead of the public ICO for Credo. Credo is a new cryptocurrency that solves the problems of email spam, which costs the global economy an estimated $20 billion per year.
Mr. Draper’s investment in Credo is groundbreaking because it is the first time in history that a major investor has had a direct participation in an ICO, investing directly for tokens. Credo’s official ICO for the public is taking place on July 26th.
Draper made headlines in the investor community last month by investing in both the companies that created Tezos and Bancor, two leading new tokens. He was also the winner of the U.S. Marshall’s Bitcoin auction, making him one of the leading owners of Bitcoin. Draper is taking an active interest in tokens as a way to transform society for the better.
“Token offerings allow entrepreneurs a new way to transform society. They are doing everything from banking the unbanked to streamlining how people transact business to helping secure people’s identities. Credos solve the SPAM problem, allowing legitimate advertisers to pay to connect, while allowing people to put value on their time and attention,” Mr. Draper said.
Putting An End To Email Spam With Credo
According to a new Credo Token white paper, spam costs the global economy $20 billion per year and still accounts for 70 percent of all email. Existing solutions have failed to solve the challenge of spam.
The idea behind Credo is that it will transform email into a market system. Credo is built on the Ethereum platform and complies with a standard for tokens called ERC20. Unlike many other token sales, Credo is already live in production and can be used immediately upon purchase.
The Credo token (pl. Credos) will be used via the BitBounce email solution, Credo’s related software service. BitBounce was Tim Draper’s idea and was founded by husband-and-wife team, Stewart Dennis and Alexis Roizen-Dennis.
BitBounce aims to solve the problem of spam emails by charging a fee for emails from addresses that are not on a whitelist. That fee can be paid for in Credo or Bitcoin currencies. This solution will ensure that a person’s inbox will only contain emails from people they know or emails that have been paid for in order to be received.
“Email is fast reaching global adoption, yet it’s still rife with problems. Credos solve these problems by providing a token that denotes the value that is already being exchanged - and often taken without consent - via email communication. By establishing a market for email, users are explicitly compensated for negative externalities and the value exchanged when they give an unsolicited email their attention or response.” Mr. Dennis said.
BitBounce is quickly gaining traction, with over 10,000 active users and a growth rate of 41 percent Week-over-Week and 293 percent Month-over-Month. The company is now processing over 50,000 emails per day on behalf of users. Users have also added 750,000 whitelist members.
These are positive numbers in terms of an effective and revolutionary solution for email marketing. Transaction volume with the Credo cryptocurrency has been growing steadily with around 100 transactions taking place per day.
BitBounce is also helping the 3.7 billion email users eliminate spam, ensuring that emails through known contacts are only being received and the cold call/unsolicited emails are being compensated for. Ultimately, this solution will result in a world where email access has been established, with pervasive and global participation in the market. Moreover, it will be easy, efficient, and reliable to contact VIPs and other recipients of sender-specific value via monetary rather than social exchanges.
A New Future Of Investments
Cryptocurrencies, tokens and ICOs are becoming an integral part of our digital economy. Over $1 billion dollars have already been raised via token sales in 2017 alone. Several token sales, such as Bancor and Tezos, have each raised over $100 million dollars. The Credo team is seeking to raise a maximum of $20 million in their token sale.
As more cryptocurrency startups continue to emerge, a new type of ecosystem and economy will be built around tokens, ICOs and digital currency. These companies will help provide solutions to some of today’s largest challenges.
Fortunately, the future of investments looks bright when it comes to tokens and ICOs. Investors, such as Tim Draper, are excited for new opportunities with blockchain technologies and cryptocurrencies.
Stewart Dennis will be speaking more about BitBounce and the Credo cryptocurrency at an upcoming Meetup taking place in San Francisco on July 23rd.
Source: huffingtonpost