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CyClean is a project that promotes clean energy through a rental system of electric vehicles. It applies blockchain technology and smart contracts to encourage people to use electric vehicles, thus reducing the emission of toxic gases. Cyclean coin can be mined just by using CyClean products based on km or KW.
Blockchains and cryptocurrencies are really hot topics that people are talking about nowadays. Some people might think that Bitcoin can be money while others say Bitcoin will never be money. However, this debate is not important anymore since blockchains can be used for more valuable things. Vitalik Buterin, the founder of Ethereum, once said that blockchains and cryptocurrencies can provide an incentive for doing beneficial things for our society. For example, Steemit is the first blockchain social network service through which people can acquire cryptocurrencies called STEEM and STEEM dollars by writing columns that are valuable to the readers of Steemit.
Steemit is just one example. The question is whether or not we can use blockchains to engage in more beneficial things other than Steemit. My answer is Yes. We are the team behind a token called CyClean. Yes, CyClean is another cryptocurrency, but it is not the typical cryptocurrency that people are talking about nowadays. CyClean is much more than just money. CyClean is created to incentivize people to protect our environment.
- Many companies launch utility tokens due to lack of clear regulations in regards to security tokens. However relatively large number of those tokens don’t make any sense and at best their utility functions are very weak.
- Utility tokens are much easier to launch than security tokens because they are not regulated. ICO company can do online marketing and offer their tokens to non-accredited investors and retail investors. They do not have to incur the heavy expenses typically associated with regulatory compliance.
- But this is all changing now. Year 2018 will be the year of security tokens.
In this article I would like to challenge common understanding of Utility Tokens.
I believe that this term is overrated and misleading and it is creating lots of confusion and it will harm many investors and ICOs in the future.
Being a Solidity Ethereum developer I’m frequently contacted for smart contract development.
For the last 6 months most requests for my services are in the area of crowdfunding contracts and ERC20 token contracts.
While working on the technical ends of the ICO preparation, I’m also participating in other meetings related to fundraising concepts, tuning whitepaper, finding strategic partners, building the team, working on the prototype, creating KYC requirements, building website and other business building related topics
Although most every project can benefit from using blockchain, not every project has a need for their own token.
Read more on medium.