ICONOMI is a Slovenian FinTech start-up offering a blockchain-based platform for asset management. Put simply, ICONOMI is a platform that makes it possible to invest in „crypto funds“. Asset managers can use the ICONOMI platform to create their own funds and investors can invest in these funds.
How was ICONOMI created?
ICONOMI was created by an ICO. The ICO started on August 25, 2016 and ended on September 29, 2016. 85 million of the total of 100 million ICONOMI Token (ICN) were distributed at a cost of $0.11 per token. As a result, just under USD 10 million was collected.
The team behind Bitcoin Trader
Tim M. Zagar (CEO & Co-Founder), Jani Valjavec (Co-Founder), Matej Tomazin (COO) and Miha Vidmar (CTO) form the team behind ICONOMI. The Slovenian team had previously developed Cashila, among Bitcoin Trader other things.
Digital Asset Arrays™
Digital assets are all digital currencies that can be traded on ICONOMI, such as Bitcoin, Ether, Dash, Golem, etc. These digital assets are managed in crypto funds. These funds are called Digital Digital Digital Asset Arrays™ and the respective fund managers are called Digital Asset Array™ Managers or „DAA“ Managers for short.
Bitcoin Code token und more
The ICONOMI platform started in 2016 with an ICO (Initial Coin Offering), resulting in the ICONOMI Token, ICN for short. This token was initially issued with the intention of representing some kind of ownership of the company. Due to regulations of individual countries, however, this could not be implemented, which is why the ICN token has different functions today. On the one hand, ICN tokens will be used for the ICONOMI platform in onlinebetrug in the future but Bitcoin Code it remains to be seen how this will actually work. On the other hand, ICONOMI uses ICN tokens for buy-backs. This means that ICONOMI buys ICN tokens with a part of their profits and then burns them. This reduces the number of ICN tokens.
Why have your own token?
For all projects that create their own token, one should ask oneself the questions, which use the issued token has. As long as ICN tokens cannot be used for the platform, the own token is not actually necessary. Existing currencies such as Bitcoin and Ether would be sufficient to create funds. Nevertheless, the token is not completely useless. Asset managers can add the ICN token to their assortment. And, of course, buy-backs are a kind of dividend for investors.