ICONOMI is a Slovenian FinTech start-up

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.

Great interest in the Blockchain

The decentralized digital ledger is at the heart of Bitcoin and many companies show considerable interest in block chain technology. This technology could improve the entire financial system. On the one hand, administrative costs for the own account could be minimized and on the other hand the blockchain records all transaction data automatically, which could considerably simplify the accounting.

But not only the exchange of a bitcoin can be logged. Digital goods can also be recorded. Smart contracts can be implemented with Blockchain technology, as is already the case at Ethereum.

Blockchain.info is not the Bitcoin Blockchain

The website Blockchain.info offers various data regarding the Bitcoin Blockchain. The start page of the website displays the currently found Bitcoin blocks, as well as the latest transactions that are made in the Bitcoin network. In addition, you can search for the bitcoin block height, a bitcoin address, block hash, transaction hash, hash160 or the IPv4 address using the search function.

Bitcoin Block Explorer

However, this website is not the official Bitcoin blockchain, but only the official Bitcoin blockchain. That is why websites that display data about the Bitcoin Blockchain are called Bitcoin Block Explorer. These help with research and provide various statistics: Number of Bitcoins in circulation, number of transactions, Difficulty and much more.

blockchain wallet
The website Blockchain.info also offers a Blockchain Wallet. This is by no means an official Bitcoin Wallet, it is just an online Wallet provided by Blockchain.info.

However, there is a high security risk with web wallets. Be sure to choose a better Bitcoin Wallet for storing larger sums of money.

Disadvantage of a blockchain
Unlike central databases, block-chain technology requires constant computing power or a kind of performance from different (decentralized) sources to ensure security and timeliness.