REO – ICO Detailed Information

For decades now, we have been watching the environment get more and more damaged due to pollution from different kinds of sources. However, one of the most damaging ones, without a doubt, is transportation.

Naturally, a vehicle is an important part of everyone's life. You need to move between different places every day, whether it is from house to work, work to store, store to somewhere else, and eventually back to your house. Most people who own a car have to use it multiple times every day, which is 365 days per year, for around 60-80 years.

In other words, there is a lot of fuel usage, which contributes to the pollution of air. Luckily, we seem to have started accepting the danger that we have created, and just in time, too. These days, electric cars and hybrid cars are emerging and becoming more and more popular, available, and practical, with charging stations being installed pretty much everywhere.

And, thanks to cryptocurrency and blockchain technology, a new type of cars comes with many new possibilities. This is something that a project called CareonChain is working on right now.

About CareonChain

CareonChain is a project based on Ethereum's platform that was developed to provide easy interaction between researchers, developers, and manufacturers of hybrid vehicles. In other words, this project is looking to create not only a community that would spread the adoption of hybrid cars, but also one that would participate in their creation and improvement.

Thanks to the fact that the blockchain is borderless, the entire world can serve as a research and development center for this tech. Furthermore, the platform will unite all of the research and work that was done so far, share it with manufacturers, and help improve our cars.

CareonChain does this for several reasons. For example, the project wishes to help improve the environment by providing drivers with a solution that doesn't necessarily have to use harmful materials to make them work. Second, all cars using traditional fuel, such as petrol, diesel, etc, are likely to be banned by 2040, so getting a hybrid car ahead of time can only be beneficial for drivers.

Another big reason is the fact that Hybrid Cars Market was estimated to reach $200 billion by 2020, and $398.90 billion by 2024, whereas it was only $102.88 billion-large in 2015. In other words, this is an industry that is emerging and growing rapidly, which is what ensures that the project's coin will keep gaining value.

CareonChain ICO details

CareonChain held its ICO back in 2018, which was a really bad period for ICOs and cryptos alike, but the project still managed to reach its soft cap of $2 million. The project had a preICO period from July 14th until August 13th of 2018, and after that, it held its ICO. The ICO started on August 15th, 2018, and it ended on November 15th, only a few months later.

The ICO sold an Ethereum-based token called REO — an ERC-20 token designed to serve as a utility cryptocurrency. Its price during ICO was $0.24, and the project managed to raise about $2 million, which was its soft cap. It did not even come close to its hard cap, however, which was optimistically high, at $20 million. The project accepted ETH, BTC, and USD.

Not many other interesting details about the ICO are known. Now, investors wait for the project to deliver, and hopefully, hybrid cars might soon become a bit more common sight on our streets.

Author: Ali Raza for Crypto-Rating.com