ICO technology for business and tangible assets has become commonplace. But there are those who go further and decide to hold ICOs of cities, countries, and even their own selves. Let us examine five such projects.
The ICO of Venezuela
In December 2017, Venezuelan President Nicolas Maduro announced the launch of a national cryptocurrency, the petro, to support the country's beleaguered economy. On January 14, he issued a decree on the issuance of the first 100 million national tokens of ERC20 standard, which are slated for release on the Ethereum blockchain. The white paper of the national project came out the same month on January 30.
The "ICO of Venezuela" is scheduled for March 20, 2018, with the presale set to be held from February 20 to March 19. In total, 44 million tokens will be placed for sale at the ICO, secured by the natural resources of the country, such as gold, oil, and diamonds. Each petro will equal the cost of one barrel of Venezuelan oil or $60.
The Berkeley ICO
The authorities of the American city of Berkeley, California, plan to hold an ICO to provide low-income citizens with housing, offer assistance to the homeless, and to make the city less financially dependent on the federal budget. This idea came after the recent announcement of US President Donald Trump about the planned tax reform, which foresees a reduction of federal funding for some cities, including Berkeley. The ICO project is run by City Councilman Ben Barlett, Berkeley Mayor Jesse Arreguin, specialists from the blockchain laboratory of the University of California in Berkeley, and the Neighborly fintech start-up.
According to preliminary information, the tokens of the city of Berkeley will be backed by municipal bonds, and their holders will be able to use them for payments in stores and restaurants and for apartment rent. Berkeley will be the first city to conduct a token sale campaign.
The Evan Prodromu ICO
Last October, Canadian developer Evan Prodromu held an ICO, during which investors could purchase the Evancoin token. This token can be exchanged for the developer’s time spent on offering advice or assistance in creating projects. One Evancoin is equal to one astronomical hour. On October 18, 2017, each token cost $45. Prodrom assures that if one contacts him personally and asks for a few tokens, he can give them out for free.
Evan Prodromu founded such successful projects as Wikitravel and the AI-startup Fuzzy.ai, and entrepreneurs and other developers often consulted him for advice. Thus, the idea was born to launch a personal token that can be used for paying for the specialist's time or retained for future use.
The First Jewish Community ICO
At the end of November 2017, the BitCoen blockchain project’s token sale was held. This project plans to unite Jewish communities around the world and create a number of interrelated projects designed to improve the life of Jewish communities. Thus, the BEN token became the first "kosher" crypto token, a business platform, and a services system.
Within the framework of the project, the BitCoen wallet, loyalty program, payment acceptance system, business marketplace and advertising platform will all be developed and launched. The token sale will last until February 15, 2018, during which 20 million BEN will be available for $1 per token.
The Islamic Community ICO
In early August 2017, the Waves platform served as the basis for the Halal project launch in support of a cryptocurrency for representatives of the international Islamic community, numbering more than 1.5 billion. As part of the project, the organizers plan to launch a public blockchain in 2018 with a convenient interface and a cryptocurrency to support the digital economy of the project. The project raised more than $5 million at the presale.