Levblockchain - ICO Review

Levblockchain: Blockchain Savior of Greece

Levblockchain can be characterized as a social organization aimed at helping young developers who reside in Greece to discover and realize their talents and vocations through learning about the blockchain technology or implementing the existing knowledge into practice. They plan to create a startup ecosystem and a European center for blockchain-related innovation.

This endeavor will be funded through the sale of native tokens - LVE, and will be organized as a decentralized autonomous organization (DAO) based on the use of smart contracts.

The Greek project is currently holding a pre-token sale event, offering the ERC-20 tokens to all interested investors.

The Greek tragedy 

Greece is often referred to as a “sick man of Europe” because of the country's lingering economic and political crisis. Even before she had been accepted into the Eurozone, the birthplace of one of the greatest cultures in the history of mankind had been plagued by a multitude of daunting challenges. The coming to power of populists and the default on its international debt, which occurred in 2015, sent this nation in a prolonged turmoil, which subsequently resulted in the so-called “brain-drain”, the deflux of young educated population to other more stable countries.

The LEV solution

However, not all of them had given in to frustration. A group of young tech-minded people decided that something as innovative and perspective as blockchain could become a lifebuoy that may keep the tech sector of Greek economy afloat and convince the young and bright specialist to stay and harness their skills in the homeland. Levblockchain sees an advantage in the government’s ambivalent policy towards cryptocurrencies, which made them center the project entirely around the use of the Ethereum-based blockchain ecosystem and token economics.

DAO ecosystem

From the infrastructural standpoint, Levblockchain plans to construct physical headquarters that will provide the aspiring blockchain developers with everything they need for efficient work: host rooms, private offices, lounges, etc. The first such offices have already been opened in May in the city of Piraeus, located in the Attica region. Levblockchain already has 100 hypercomputers in its possession that will be either lent to project members, used for mining purposes, or used for renting the computing power to external organizations.      

All financial constituents of Levblockchain will be based on the principles of transparency of financial data (profits, expenses, and list of assets), which is due to be recorded to a public ledger and governed by smart contracts, as well as the provision of voting rights to all holders of LVT tokens. 

Token economics and pre-ICO details

Levblockchain will initiate a buy-back of 25% of tokens that will have been sold during the initial stages of token sale at the price of 0.0032 ETH. The first buy-back will be executed by smart contract as well as the second, within the framework of which the token will be purchased for 0.0032 ETH + 10% interest rate. 50% of the total supply of tokens (108 million LVE) will be distributed among startups and holders.

The pre-sale price of LVE tokens is 0.0016 ETH/token. The event will last until July, followed by the prolonged ICO - until March 26, 2020. The hardcap is set at 43.200 ETH. The United States is the only country on the restricted list.

Author: Alex Paulson for Crypto-Rating.com

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StartAugust 1, 2019
EndMarch 26, 2020

I hate to say it, but I really doubt that Levblockchain will be able to reach even a softcap. Not that their initiative is bad or something. It's just that it could kindle the interest of local investors, but not more. As far as I know, Greek investors aren't particularly keen about investing in domestic projects, even such promising and helpful ones like Levblockchain. It's most likely that it would get some insignificant sums from fellow computer developers, but that would hardly be enough to make their ends meet.

Copernicus8394   August 19, 2020  

I had organized a project conceptually similar to Levblockchain back when I was living in the Czech Republic. It didn't turn out to be a huge success, but we still managed to find out some blockchain programming diamonds in the rough - now they are working with me on other projects. What I am trying to say is that projects like Levblockchain might be good for the recruitments of promising coders and other kinds of specialists, but it is not much of an investment opportunity.

ComputerScientist   August 5, 2020  

Levblockchain offers a wonderful example to other developing countries that can't seem to find a way out of the neverending financial scrutiny. But the answer is simple and it is displayed by Levblockchain: if you want the country to go from rags to riches without having to rely on international creditors, then invest most of your resources in the development of intellectual products and people who create these products.

Chuck88   February 26, 2020  

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