Initial coin offering (ICO) has been used in the past to fund projects that aid the advancement of blockchain and cryptocurrency. However, a relatively new player introduced an even more enticing offer that combines traditional valuable materials with crypto assets.
Cyronium ICO provides a unique benefit as a crypto asset that combines cryptocurrency with precious metals such as gold. Because it makes use of a tangible asset as a kind of guarantee, Cyronium can potentially change the entire industry for the better.
Cyronium ICO Review
Cyronium presents promising features compared to its competitors. Since it is backed by gold, it will never become worthless. It basically has two values that can convince investors: the minimal or baseline value, which will never be lower than gold, and the future value as a crypto token.
One Cyronium token (CYRO) is tied to 1 Cyronium coin. Since a Cyronium coin has a value similar to 20 grams of 24-karat 99 percent LBMA gold, it means that the token will never reach zero value, unlike all other existing cryptocurrencies. As for its value as a crypto token, its potential is undeniable despite its fluctuating values. With these two combined, there is a good chance for Cyronium to remove any doubt cynics may have about crypto token and blockchain as a whole.
The ongoing Cyronium token sale, which began May 26, continues to reach beyond the set soft cap. With the hard cap pegged at 50,000 Cyronium coins, the company aims to see most of its coins distributed to the public (73 percent), with only 5 percent allotted for the founders.
Funds gathered via the ICO will be used for further development of Cyronium blockchain coins Volko, Tree, and Koinako. Each of these will be tied to physical assets of a specific industry: Tree for planted crops, Volko for SMEs, and Koinako for rented accommodation.
Fight Economic Injustice
A letter by Cyronium founder Mardigu Wowiek Prasantyo mentioned that the main purpose for this ICO is to improve the economic ecosystem by creating new opportunities, particularly for thousands of small to medium enterprises.
To say that the goal is very ambitious is an understatement. Even so, it doesn’t change the fact that the idea of “fighting economic injustice” is noble. Since SMEs have little to zero means of incorporating an advanced technology into their business, Cyronium hopes to create a platform to help these entrepreneurs “blockchainize” and, therefore, succeed.
Because of its minimal investment requirement of 0.001 CYRO, equivalent to $2.15, there is a good chance that business owners will want to try it out.
As far as the ICO’s progress is concerned, Cyronium is being developed as a trading instrument available 24/7. By 2019, the firm will start engaging with international companies to use it for buying products and services in areas of technology, telecommunications, entertainment, finance, and many others. After that, the team sees Cyronium as a reference for financial institutions’ conventional investment model by 2020.
Innovation and Risk
Once Cyronium’s Tree, Volko, and Koinako coins start circulating, the company vows to distribute profit shares from the respective businesses to coin owners. This makes the ICO a useful instrument to upend financial restrictions faced by setting small and medium scale businesses free from reliance on traditional financing models.
As a result, the demand for Cyronium is expected to increase as more SMEs will see its benefits. On the investor side, Cyronium ensures that their money will not be wasted by choosing businesses that have been consistently profitable for the last three years.
Still, the success of this innovation depends on how open-minded people are. This is a major weakness that should be overcome through education and information dissemination. It is imperative for the company to enhance security, not only for its own database but to shield clients from potential scams and fraud as well.