IwToken is a new project aimed at promoting the use of virtual currencies around the world. The startup’s goal is to integrate cryptocurrencies into people’s everyday life, making them easy to purchase, hold and sell.
“We highly believe cryptocurrencies will keep gaining the place they deserve and start to be used more frequently, for everyday transactions all across the world, used just as a payment for a service like buying something at a supermarket, making a high net worth transaction between two entities or just for sending some money from you to a friend or a family member who might be in another city,” the company wrote in a whitepaper.
IwToken has just announced an ICO which will start on August 31th, 2017 at 1:00 PM UTC. With the help of token sale the company wants to raise finances for the development of the project’s first phase which will include the development of the integrative wallet and setting up all the necessary things for its further growth.
The company intends to build an ecosystem consisting of three products: an integrative wallet, the integrative ATMs, and the Integrative Card. The integrative wallet is a multiwallet that can store all cryptocurrencies and tokens available on the market and can also be used to transfer and receive tokens from other users.
The second product is focused on launching ATMs all over the world, letting people easily buy and sell all cryptocurrencies, as well as make conversions into fiat currency. The solution will be especially useful for customers in less developed countries, where it is more difficult to trade digital currencies. The last product is the integrative card, the company’s own card that will be connected to each user’s wallet and can be used as a debit card.
One of the main features of the platform is the alias system, which is used in the current banking system. It allows users to create an alias to their currency portfolio and via the app provide this alias to people who wish to transfer the funds. Users who register in an app can generate an alias and modify it whenever they want.
During an ICO, IwToken will issue a total of 100 million integrative wallet tokens, 45% of which will be offered for investors, 30% will be kept as a safe account, and 25% will go for the rewards program. Each month, token holders will receive payments from the profits generated by the company’s products.
This month alone, we saw a number of startups announcing their token sales. Last week, GoldMint announced an ICO to offer its GOLD digital assets, which are 100% backed by physical gold or exchange-traded funds (ETF). The Universa blockchain platform has recently unveiled their intention to raise over $100 million in the upcoming ICO.
Meantime, Viberate, a new music platform that is expected to revolutionize the live music industry, claimed that it’s going to begin a crowdsale in September. The same month, an ICO will be conducted by Internxt, a P2P cloud computing network that plans to create a new internet by developing a decentralized cloud infrastructure.