What is an ICO?
Cryptocurrency and blockchain technology are creating new and exciting possibilities across a vast number of industries and unlocking the financial power of the internet in heretofore unknown ways. In the process of building this new world, there are a lot of confusing buzzwords that get thrown around. One of these terms is “ICO,” which stands for Initial Coin Offering, but just what does that mean? Let’s dig in a little and find out.
What’s an ICO?
An initial coin offering is similar to an initial private offering (IPO). It’s when a new cryptocurrency offers its underlying tokens for sale to the public. This process generates capital and enables developers to build a platform and get the coin off the ground. There are some benefits to ICOs as it allows token holders to get in on the ground floor. Unfortunately, there’s just not enough regulation in the industry at the moment to ensure that ICOs are a safe investment and the SEC has taken a dim view of ICOs in general as many can’t pass the Howey test and are regarded as unregulated securities.
Is eDiamond an ICO?eDiamond is not offering an ICO. It’s a funded cryptocurrency with a built-out platform that allows users to connect more deeply online and to demonstrate love and commitment in a relationship. We’ve hit the ground running because we believe that staking out a space in the digital realm for love and committed relationships makes the world a better place.