Since the initial coin offering (ICO) sector became popular in 2017, there were certain countries that decided to embrace these new trends, whereas others decided to oppose it or sit back and see what happens. The likes of Gibraltar, Estonia, Australia and France are just some of the nations which have really embraced ICOs. Others like China and South Korea were the opposite and they decided to completely ban them from taking place on their shores.
The Gibraltar Blockchain Exchange is a marketplace for ICOs and they have just announced the launch of their 3rd ever ICO, which is for a non-profit group focused on timeshare property that is called Crowdvilla.
What are the details about this project?
Crowdvilla is a company that aims to offer a community estate of holiday properties for those who want them. They are accepting ethereum for this token sale and in return you will receive their CRV tokens. These are representative of shares in given properties. All of the funds that are raised as part of this token sale are going to be used in order to purchase the properties.
These CRV tokens will subsequently create another type of token which is named CROWD and this token will be used to pay for stays at these residences and properties. CRV will constantly be creating these tokens, which means that a customer only needs to make the purchase a single time.
This company is being operated by a company called Reidao and they are aiming to change the way the real estate market operates. They want ownership to be completely represented by tokens which are found on the blockchain. Therefore, people can much more easily purchase shares for given properties and subsequently trade them as they wish.
What role is Gibraltar playing in the ICO sector?
Gibraltar has been working hard to develop itself as a leading destination for cryptocurrency related businesses. It was at the start of 2018 that a new law came into work that meant blockchain companies could easily qualify for a license.
This caused some controversy as the Royal Bank of Scotland even cut off their service to the Gibraltar International Bank as a result of this move. They have launched their own cryptocurrency exchange and they also held their first token sale in February, which saw them raise $27 million.