Berkeley City to Conduct ICO

The city administration plans to sell tokens secured by municipal bonds in order to build the affordable housing and help the homeless
08 February 2018   673

The Berkeley authorities in the state of California are announcing the first ICO in America at the municipal level. The administration plans to sell to investors the tokens secured by municipal bonds. In the future, tokens can pay for purchases in stores, food in restaurants and even rental housing. This is reported by Business Insider.

The funds raised through ICO will be invested in the construction of affordable housing and in the social sphere. First and foremost, the city authorities intend to help the homeless, whose number is growing every year.People without a fixed place of residence will receive tokens free of charge and will be able to pay for goods and services in partner companies of the administration.

Berkeley is the center of the resistance, and for the resistance to work, it must have a coin. We have a jobs explosion and a super tight housing crunch. You're looking at a disaster. We thought we'd pull together the experts and find a way to finance [affordable housing] ourselves.

Ben Bartlett
Berkeley City Council Member

The decision to hold the ICO in Berkeley arose after the signing of the law on tax reform. The Trump Administration intends to reduce taxes for legal entities and certain groups of individuals. This initiative can affect private contractors who are engaged in the construction of affordable housing in the United States. According to the estimates of the consulting firm Novogradac & Company, in the next 10 years due to the tax reform the number of available housing will be reduced by 235,000 houses and apartments.

In Berkeley, problems with housing are particularly acute. In 2017, 1000 homeless people were registered in the city, which is 43% more than in 2009. 

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Bittrex to List LOOM

LOOM is the token of the American startup Loom Network, which launches decentralized applications
18 July 2018   179

Popular cryptocurrency exchange Bittrex listed Loom Network token LOOM. 

As the team of the exchange said, trading with the crypto currency will begin in the near future. On the background of this news, LOOM showed a price jump fo 14%.

LOOM Price Chart
LOOM Price Chart

LOOM is the token of the American startup Loom Network, which is launching decentralized applications.

In January, Bittrex tightened the criteria for listing new tokens. Now, developers need to provide technical information about the token itself, as well as the data of at least one team member. At the moment, the exchange has 290 digital coins.