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Blockchain Newsletter: Why Big Business Is Racing to Build Blockchains [2017W35]

Altcademy Team wrote on 7 February 2018

This Week's Update on Bitcoin and Blockchain [2017W35]
Issue: Week 35 of 2017


  • Price per Bitcoin BTC is at ~$4241 USD (+6.2% from last Monday)
  • Price per Ether ETH is at ~$341 USD (+7.2% from last Monday)
  • Price per Bitcoin Cash BCH is at ~$600 USD (-11.6% from last Monday)


This week’s new initial coin offerings (ICOs)

  • HelloGold is an existing company that offers low to medium income customers to buy and sell very small amount of gold anytime, anywhere.
  • HelloGold users buy and sell gold through their mobile app available on Android and iOS.
  • The gold bought and sold are physical investment grade gold securely stored with an independent operator in Singapore.
  • HelloGold has registered a Singapore based limited company HelloGold Foundation (HGF) to oversee the initial coin offering of HelloGold Tokens (HGT) and later the distribution of Gold-Backed Tokens (GBT).
  • The issuance and sale of HGT is to raise fund to to accelerate adoption of Ethereum smart contracts as the operating backend of HelloGold’s gold trading platform.
  • 1 billion HGT will be issued and sold in three rounds of token sale. Each round will last 1 year.
  • HelloGold will endow 10% of its annual management fee revenue to HGF, up to a maximum of 3.8 metric tonnes of gold.
  • HGF will convert any gold received from HelloGold via the endowment into GBT in 1g increments.
  • HGF then has the discretion to distribution part of the GBT to HGT holders as a form of reward.
  • The first round public token sale is planned to start August 28, 2017.

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