FIC Network - ICO Review

It has been over a decade since the creation of Bitcoin - world's first, and still largest cryptocurrency. During that decade, the crypto industry fought a long and hard battle for recognition and mass adoption. As you likely know, the struggle is far from over, although there were multiple steps that the sector has taken in the right direction.

Only a few years ago, cryptocurrencies were an unknown phenomenon, mostly used by hackers, scammers, and other criminals. They were not the only users, of course, and tech enthusiasts around the world knew about them as well. However, it was only in 2017 that cryptos truly emerged from the shadows and went big. In the last two years, they made more progress than in the previous eight, thanks to that fact.

Slowly but surely, they started getting more and more users, but also more and more use cases. Numerous projects dedicated to fixing problems in various industries emerged, and the crypto trend continued to grow.  Still, cryptocurrencies have yet to enter the mainstream, and the number of merchants that accept them is still small, even though it is growing constantly.

Many are trying to find a way to make a steady, fixed income from cryptocurrencies these days, and that is something that the project called FIC Network aims to make a reality.

About FIC Network

FIC Network calls itself the world's first fixed-income network for digital currencies. Basically, it allows the participants on its network to use cryptocurrencies as a payment method for things like debt, bonds, and other financial instruments. Further, they can hedge their investment with crypto futures, as well as earn a stable interest.

The project aims to infiltrate the $230 trillion-large global credit and fixed income financial market, which is a huge opportunity full of untapped potential. If successful, the crypto space would receive another extremely valuable use case, and continue to revolutionize the global financial industry as a whole.

FIC Network is imagined as an asset-agnostic, multi-currency distributed ledger, with its primary focus being on institutions that use traditional currencies and are adapting to crypto markets. It will also include crypto hedge funds, as well as traditional asset managers. All of them will be able to benefit from the cost savings offered by the FIC Network, but also from new opportunities that will emerge as the market continues to expand. Before all of that, however, FIC Network will need its native coin.

FIC Network ICO details

FIC Network's ICO still doesn't have a precise date set, but there is a lot of information regarding the ICO and its token that we already know. For example, we know that the token's ticker will be eFIC and that it is a utility developed on Ethereum's network. It will have a price of $0.1 per token, and it will be obtainable in return for Ether coins.

The project has announced a bonus, and it had a working MVP. It also announced a soft cap of 3,500 ETH, and a hard cap of $16 million. It was registered in the United States, which will also be the only country whose investors won't be allowed to participate in the ICO. Everyone else will be welcome, after the obligatory KYC and Whitelist procedures.

Author: Ali Raza for:

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FIC Network
StartJuly 8, 2019
EndSeptember 26, 2019

I totally get the idea of bond issuance on blockchain, but I find it suspicious that FIC Network conceals information, or at least doesn't provide easy access to it, regarding the jurisdiction in which the company is registered. It is of vital importance for an investor to be aware of such details since FIC Network will be carrying out financial services which are heavily regulated in the traditional markets. I wouldn't want to invest in a project that might run into legal troubles along the road.

nosysally   September 9, 2019  

The proper provision of access to bonds and other financial instruments to smaller investors is long overdue. It shouldn't be the privilege available only to the big-time financial firms from London or New York. Therefore, I am in full support of the concept presented by FIC. The times when the art of finance is deliberately made overly complicated, so that the nascent investor could wreck his mind trying to grasp the essence of all those schemes, terms, and such. Thanks to FIC, at least the bond issuance will be made more comprehensible and accessible to me and other fledgling financiers.

Amanda   August 6, 2019  

However, it is the vision that is the most interesting regarding this project, particularly the idea of bringing it to "real" finance markets. It is a strong concept, and it holds a lot of potentials, so interested investors might want to keep an eye out for further development.

Patrick   August 1, 2019  

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