Cryptocurrency Market Enters Maturity as New Projects Link Crypto to Real Economy

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by Sofiko Abeslamidze · 3 min read
Cryptocurrency Market Enters Maturity as New Projects Link Crypto to Real Economy
Photo: Biocoin / Twitter

Brand new real economy cryptocurrency Bitcoin creates a network of eco-friend and socially responsible companies that can help contributors build green future for the whole planet.

Over decades, blockchain technology has been undergoing the hassle of legal procedures to prove being a real solution for developing business surroundings. Despite an onslaught of criticism, a blockchain-based digital ecosystem has successfully disrupted traditional banking and financial system bypassing third parties and bringing benefits of seamless international transactions via a transparent online ledger that everyone can keep track of.

Nowadays governments are already exploring ways to store some data in blockchains, as once entered information cannot be altered or tampered with that making it hard to break. And by the means of self-executive smart contracts deal making process is conducted automatically in secure and savvy way.

However, authorities yet have not developed any applicable regulations to control cryptocurrencies; thereby anonymous transaction system based on blockchains was numerously accused of facilitating nefarious activity such as terror founding, money laundering and tax evasion.

The ICO, another blockchain product, as well became a target for scammers. A huge chunk of ICO’s boost spurred out a lot of confusion in crypto market. While some of the projects was in actual need of funds to employ innovative technique, other failed to deliver the promised products and disappeared with collected money right after ICO had been finished.

In addition to fake ICO, the high volatility of cryptoassets and recent market deterioration fuel a lot of fear and anxiety within investors and contributors who seek stability and consumer protection that are nearly impossible in the crypto world.

For those reasons, some companies and projects start to integrate its tokens into real economy and spread the long-awaited acceptance of the crypto by the mainstream. Instead of creating yet another speculative ICO, such projects designed its tokens as traditional money still reaping advantages of blockchain-based digital currencies.

Biocoin Links Crypto to Real Economy

One of such projects is Biocoin, a cryptocurrency created by an eco-farming network called LavkaLavka. The network includes thousands of eco-friendly households, cafes, and stores that provide homegrown and organic produce directly from farmers. The development of the platform and the BioCoin currency provides new opportunities and helps increase sales for farmers who struggle to grow their business within the current framework of a “big corporate economy” controlled by large retail chains and agro-holdings.

Biocoin as a steadily growing platform enables any farmer to raise funds for a new product while giving benefits to their customers. After recent partnership with RCN, Biocoin is granted small businesses with cheap loans for development that are unavailable when it comes to dealing with major banks.

A while ago Biocoin has made another significant collaboration with payments processor Robokassa and Bitwallet service that will enable Biocoin users to pay online and have a plastic card charged with cryptocurrency. The list of Biocoin partners is expanding equally to its token’s price.

Biocoin Token Sale

However, unlike most projects that do more or less similar things, Biocoin is attracting funds to create a financial blockchain-based platform that would unite not only farmers, but also all people who support organic agriculture, sustainable development, responsible consumption and respect for the environment.

The ICO in question is still underway and will end on February 18, 2018. During the ICO, 800 million BioCoins will be sold at a price of $1 for 35 BIO. The project’s primary goal was to raise $15 million. However, by now it has already raised about $16 million of investment from contributors around the globe.  According to the project’s roadmap, all funds collected will be used for further implementing, launching, maintaining and promoting the BioCoin blockchain platform

Altcoin News, Cryptocurrency news, News, Token Sales
Sofiko Abeslamidze

Sofiko is a freelance fintech copywriter at Coinspeaker. With a Bachelor degree in International Business and Economics, Sofiko has been deepening her knowledge of an agile innovative industry primary focusing on the robust blockchain technology and cryptocurrencies. As a bank employee, Sofiko particularly keens on crypto and blockchain integration into the established banking systems.

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