Idea & Token
Industry Token is going to give merchants in travel, service and hospitality industries an ability to accept cryptocurrency. This is their first goal, but long term plans go much farther. One of the most interesting features is low volatility of the token. Each transaction accepted by a merchant will have a fiat currency equivalent determined by the market price at the moment of the transaction. This equivalent is fixed until it’s cashed out to a fiat currency. From one side, that will give merchants the peace of mind to accept cryptocurrency. From the other side, consumers get the platform to spend cryptocurrency for goods and services, clearly, fairly, and without hidden fees. The blockchain traditional features will bring security (low risk of frauds) and privacy (consumers will control their data). Companies that accept Industry Token will eliminate merchants’ overcharged processing fees. In the end, Industry Token is developing a dedicated, based on Proof of Stake blockchain for tourism-related DApps (via provided API) with a point of sale system and wallets for consumers. In the future, the platform is considered to spread its focus to a wider range of industries most of which are connected with entertainment.
Their ERC-20-based token called INDST will be used as a main payment method on the platform. The existing relationships with 10+ companies (including Apple!) allow Industry Token to provide good reward programs. A total supply is 1 billion tokens. The token distribution is as follows: 45% – sale, 20% – team reserve, 10% – guaranteed merchant reserve, 9.8% – advisors reserve, 5% – rewards reserve, 5% – consumer reserve, 5% – credit program reserve, 0.2% – airdrop.
The team consists of 5 professionals with strong experience at IT, software development, finance, analytics, marketing, sales, and legal. The team is currently driving a project called Industry, an online community for hospitality professionals in the USA. The project CEO Varun Villait, a blockchain engineer and cryptocurrency expert, apart from Industry previously ran different positions at Playboy Enterprises, from a system administrator through software development up to the head of product. As mentioned above, the team established relationships with more than a dozen of companies from the related industries. Advisors (5 people and 6 companies) will support the project with experience at cryptocurrencies, hospitality, travels, investments, finance, security, and legal.
A group of specialists trying to create a secure and reliable blockchain for DApps is nothing new. What makes them different is the focus on the hospitality industry, where the guys know all ins and outs. And the most interesting and valuable feature is stability of the token price, that will potentially attract merchants and incentivize them to accept tokens. One more point worth mentioning is the team’s decision to make Industry Token a security from the point of view of the United States Securities and Exchange Commission (SEC). Minuses – low hype, weak use cases, and high hard cap.
If the guys manage to take a niche in their target industry, they do have a chance to become a successful ICO.
Industry Token ICO datesexport to calend
The primary objective is to create a seamless payment method for travel, service and hospitality merchants to accept cryptocurrency as a form of payment without the risk of volatility, high merchant processing fees and fraud that put today’s merchants at risk.