Some details about the mysterious IMMO project leaked into the media this week, no one has any official or verified information on this confidential project though.
A portion of the document containing details about the mysterious IMMO project has been published in the media this week. Earlier Vitalik Buterin, Lon Wong, Simon Cocking, Tim Draper, and many other cryptocurrency experts voiced their opinions on the matter. Because of the confidentiality surrounding the development of the mysterious IMMO no one currently seems to be in possession of any official or verified information about IMMO. The leak has finally allowed to lift the veil of secrecy.
According to the content of the document, IMMO has developed a stable model bundling crypto assets with real assets. This will enable the IMMO intrinsic value token to be backed by the resources available to the IMMO Foundation. Until now, it remains uncertain what type of resources are included in the price of a token. Nevertheless information that appeared has covered the legal structure of the project itself.
The acquisition and management of IMMO Foundation resources will be carried out according to the trust fiduciary relationship. The question remains as to how this particular model of the traditional economy will play out in the blockchain context. Uncertainty is mitigated by the fact that the legal framework of IMMO has been approved by one of the auditing companies of the Big Four.
The obtainted portion of the document contains referrals to the IMMO plans to become the world reserve cryptocurrency. The functioning of IMMO will not depend on technology, time, and the interests of investors will be met through a ramified monitoring and counterbalancing system. The DAO will be fully responsible for the functioning of this system.
According to the leaked document, the IMMO’s managing model is essentially a community of cryptocurrency experts and evangelists – “High 1000”. High 1000 will unite “thousands of people, a community of the most respected and de facto representatives of the crypto industry worldwide.” High 1000 participants will have the right to vote on the joint matters regarding further development of the project as well as receive all sorts of rewards for their active participation and initiatives.
A search for IMMO.Foundation on LinkedIn already shows the accounts of some of the High 1000 members, however the team of developers and its creators remain unknown.
The common speculation in the media links the Rothschilds to the IMMO’s development. However, there is still no information proving or refuting the involvement of the dynasty in the creation of its own cryptocurrency. Without doubt, creation of such a global project requires massive funding and power. Nevertheless, it is quite possible that other big players stand behind IMMO.
It is likely, IMMO does not want to advertise the details of the project. Until now, IMMO.Foundation has kept quiet and has released no official statement. The only website we were able to find contains no information other than the 4-letter IMMO.
However, since the information in the crypto space is spreading fast enough, and it should not come a surprise that the new insights will penetrate the community via communication with people familiar with the project. Whoever it is behind the mysterious IMMO project, we can only wait for the emergence of this new major player in the cryptocurrency market.
next