Peter J. Burns III — “ICOs are the Proverbial Dead Men Walking”
The headlines from only days ago promises to cause an awful lot of people to “pucker up” as the SEC begins its path to clear the decks of what they state are the unlawful Security issues of nearly 1000 ICOs..
Almost $22 billion raised in nearly 1000 ICOs…where did the money go? Certainly not to workable projects…and often merely funding the pipe dream of a (mostly) carefully written “White Paper” presented to investors. This may well be the modern day version of the old fable’s byline “The Emperor Has No Clothes!”
As an avid Start-Up Entrepreneur (www.peterjburns3.com) Peter J. Burns 3 often find himself in the forefront of new business trends but generally in the peripheral areas. See Peter’s ventures in the Cannabis Industry (www.cannabizinsiders.com) as well as his initial foray in Crypto (www.cryptechalchemy.com)…both on the service side of each industry. Well, in this blog, Peter J. Burns III is going to share how his direct participation in a wholly-sanctioned Utility Token with an actual product The HIC Travel Token (in the $7 Trillion Travel Industry) may well be one of the very few, fully functional and legitimate cyrptcurrencies on the Planet at this time.
What started out a year ago as Peter J. Burns 3’s introduction to a couple of Vietnamese-American brothers has manifested into a very significant travel enterprise with great discounts at 1 million hotels around the world. See www.Travel.VN. What is relevant to this blog is the fact that Peter’s Vietnamese-American friends (now strategic partners) have simultaneously introduced the Hi-Tek Travel Token (www.hi-tek.io) which is the only cryptocurrency approved by the Vietnamese Government and which allows the holders of the Token to directly purchase significantly discounted travel for everyone around the world on its booking engine platform. The Travel Token can be used as payment for the travel offered on the Travel.VN and Prebook.com sites with immediate settlement with the licensed booking engine and no merchant fees, charge backs or fraud due to its integration with the Blockchain technology.
The Hi-Tek Travel Token solves the issue for booking travel seamlessly to anyone of the 4 Billion “Unbanked” in the world through the fully KYC-compliant eWallet issued by Hi-Tek. All of the funds paid for the Tokens (Current Value $.10) are escrowed to make immediate settlement with the booking engine upon presentation of the Token to book travel. This means that the HIC Travel Token can never lose the value that was paid for it. Compare that to virtually every ICO coin’s price after their offering.
Of course, the underlying premise of investing in cryptocurrencies and to a greater extent ICOs, was the potential upside of rising values of the Coins. The speculative nature of the ICO Coins defaulted to the SEC’s determination that the ICOs were in non-compliance of Securities Regulations causing the current chain of events that threaten to demolish most, if not all, ICOs that came to market.
Which, if Peter is not mistaken, leaves the HIC Travel Token, The Last Man Standing as well as the clear winner in never losing value and redeemable for discounted travel around the world. Now what happens to the HIC Travel Token’s value when the numbers of the already fully mined Tokens are depleted upon redemption for the travel bought? Just think Supply and Demand. 🙂
Follow the adventures of serial start-up entrepreneur, Peter J. Burns III on www.peterjburns3.com
Note: Previously published by Peter J. Burns III on Medium (2018)