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Swarm Intelligence Set

FESS Chain – ICO Detailed Information


ICO FESS Chain
Since they originally appeared almost 11 years ago, cryptocurrencies have been promising a change that would make the world a better place for everyone. They offer a number of benefits over traditional finances, including lower transaction fees, decentralization, as well as the ability to reach everyone, whether or not they have access to the bank.
Start September 30, 2019
End October 10, 2019
Rating 4.2
Status
KYC Yes
Founded 2019
Categories Artificial Intelligence
Platform Ethereum
Token FESS
Soft cap $3 500 000
Hard cap $8 200 000
Minimum investment 1 FESS
Tokens for sale 600000000
Accepting ETH, BTC
Whitepaper Yes
Discussion
Countries India
Social

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FESS Chain Overview

ICO description, Technical Details and Documents

FESS Chain Introduces Electronic Settlement System


FESS Chain is an Indian blockchain project that is currently holding a private sale of FESS tokens of the utility type on Exmarkets Launchpad. Should the project obtain proper funding, which by FESS Chain’s merit is $8.2 million, established as a hardcap, the development of the blockchain-based electronic settlement system will be continued.

Company information


FESS Chain is allegedly registered in the jurisdiction of Malta. Project’s parent company claims to have chosen this particular jurisdiction in order to be eligible for operations in the member-countries of the European Union. In the whitepaper, it is stated that FESS Chain has already acquired licenses for providing digital wallet and exchange services from the Maltese financial regulators. However, there is no company registration number indicated on the official website to prove these statements.

The concept of the electronic settlement system


FESS Chain has set itself a goal of finding a solution to the issues of scalability and security that is lingering in the crypto industry. Their secondary task is to incorporate an improved electronic settlement system that should become a bedrock for a completely non-fiat digital economy.

These objectives will be realized by virtue of the Universal Settlement System (USS), built on the foundation of FESS Chain’s proprietary blockchain that has been modeled on Bitcoin and supplemented with artificial intelligence. The project claims to have developed a unique authentication method that makes their blockchain resilient to cyber attacks, while allowing to maintaining the speed of up to 950 tps. With that, FESS Chain hopes to lay the foundation for the dApp development platform and the in-house cryptocurrency exchange.       


The FESS Chain team

ICO details


The private sale of FESS Chain’s token began on June 6 and will remain live until September 30, when the public part of ICO will commence. There is a live indicator on the project’s website about the fundraising progress. It currently shows that 20% of allocated FESS tokens have been sold at a price of $0.01 per unit. The tokens will be in a conditional lockup for a designated period of time.

FESS Chain accepts only Bitcoin and Ethereum as means of purchasing of FESS, having set the minimum investment threshold at 1 ETH or its equivalent in BTC. Apparently, there are no area restrictions and KYC requirements with regards to buying tokens.

Author: Alex Paulson for Crypto-Rating.com

FESS Chain Milestones

* Crypto Rating accepts no liability for any errors in the FESS Chain ICO information and Rating. For the most up-to-date information please visit the ICO's official website.

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