Back in 2018, when the crypto winter struck, and a bear market dominated the crypto industry, countless coins saw major price declines, dropping anywhere from 80% to over 95%. However, the crypto winter did more than just butcher the prices — it also changed the investors' stance towards digital coins. People were no longer willing to run to any new project blindly, trying to get as many of the coins they could, as quickly as possible.
Skepticism spread throughout the market, and ICOs that came after the market crash did not perform well at all. In fact, many believed that the model would go extinct, or at least that it will have to evolve, maybe into STOs, or IEOs, that emerged later, in early 2019.
Now that the prices are rising again, investors are becoming more and more optimistic once more. As a direct consequence, ICOs themselves are coming back. The return was slow and shy, but more and more projects are being announced, and the one we would talk about today is known as Bright Network ICO.
Bright Network is a project that aims to use an open protocol and data marketplace powered by the blockchain technology to connect new generations of financial services to the data economy. Simply put — the project is building infrastructure for a new generation of financial services.
To achieve this, it uses an open protocol for decentralized storage, consumption, and verification of business data. Next, it uses data marketplaces for financial services providers, businesses, and developers. Finally, it turned to cryptographically-secured data vaults of public, meta, and private data owned by the user. This is an open ecosystem that aims to offer easy sharing and consuming of business data.
To achieve its goals, Bright Network has developed its own token, Bright. As most other tokens, this one is also created on Ethereum's blockchain, which makes it an ERC-20 token.
While the project has already released some of the details regarding the token, a lot of them have yet to be determined, such as the date of its ICO's start or end. What is known, however, is that Bright will serve as a utility token, and that interested investors will be able to obtain it in exchange for fiat currencies, Bitcoin, and Ethereum coins.
The token's price will be $0.01, and the ICO will have a hard cap of $25 million. To participate, investors will have to go through KYC and Whitelist procedures. However, the UK-based ICO is confirmed to have a bounty and MVP/Prototype available. It will also offer 2.5 billion coins for sale. As always, any investor interested in the project is advised to study its white paper prior to investing. Considering the fact that the ICO has yet to be announced, there is more than enough time to do so.
All in all, the project does have a lot of potential, as well as an important mission. Connecting a new generation of financial services to the data economy is quite a demanding area — one where blockchain technology is likely to play a major role. The token's price is also more than fair, and so far, the project has received quite good ratings. It is a fair assumption to say that this will be one of the bigger projects in years to come.
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