Join Our Mailing List
Wednesday February 08, 2023
Bitcoin (BTC) $23,169.21   Ethereum (ETH) $1,671.88
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
Trezor Model T
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
Home Featured

BioCoin token sale underway commencing first legal ICO in Russia

Published by CryptoNinjas.net
11/08/2017
BioCoin token sale underway commencing first legal ICO in Russia

The main round of the token sale for BioCoin, the first legal ICO in Russia began on November 1st having already raised over $3.5 million dollars through the first week including the presale. It is hosted by the first officially compliant Russian cryptocurrency platform Voskhod. BioCoin pioneers the ICO market as the first token sale held in full compliance with Russian law. BioCoin’s founder Boris Akimov was recently invited to head the ICO department at RABAC (Russian Association of Blockchain and Cryptocurrency). BioCoin is expected to become an example token sale for future regulation of ICOs in Russia.

The token itself is a Peercoin fork designed to fuel an international blockchain-based loyalty platform. As a combination of cryptocurrency and loyalty platform, BioCoin strives to build a global system which will allow consumers around the world to support local farmers and organic food retailers who will then return value right back into their communities via a system of rewards and discounts.

“We are excited to hold the very first legal ICO in Russia. Our blockchain platform has already drawn the interest of wide audiences, including Prime Minister Medvedev, who attended our presentation. We have secured legal support from Elina Sidorenko, the head of the Russian parliament’s interdepartmental working group on cryptocurrencies. On the advisory board we have Michael Shlypanikob, the figurehead behind ‘blockchainisation’ of Russian eco-farming and SibCoin’s team, who created a wildly successful Russian cryptocurrency, which in the last two years increased in price times 200.” – says Boris Akimov, BioCoin’s CEO

LavkaLavka Ltd., the company behind BioCoin has already built the foundation of this new ecosystem creating an international farmer cooperative. Today they are backed by tens of thousands of consumers, retailers, and farmers worldwide, with new businesses joining the network weekly. According to the LavkaLavka team, about 20 million BioCoin tokens are already in daily circulation, used by farmers in Russia and several other countries.

The platform’s presale recently concluded raising over $3 million. According to the team, the results outperformed their expectations and already covered a formidable portion of the token sale’s overall goal which was set at $15 million.

Basic principles of BioCoin

All clients of the stores, restaurants and other business projects that have joined the BioCoin blockchain-based loyalty program will receive rewards credited in BIO cryptocurrency to their personal crypto wallet for every purchase made at these establishments. The remuneration is 10% of the purchase amount in the national currency (10% is the average number. Each business has the right to set the amount of remuneration). The amount of BIO credited is calculated based on the cryptocurrency exchange rate at the time of the purchase. Rewards are credited to all clients without any exception. It does not depend on the actions of the client themselves – since their ID in the loyalty system is connected to their crypto wallet through the blockchain-module and the transaction occurs automatically.

More details are available in the BioCoin white paper.

42
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Russia’s Sberbank launches blockchain laboratory

01/12/2018
Russia’s Sberbank launches blockchain laboratory

Sberbank, Russia's largest and oldest bank announced it has opened a blockchain laboratory which will test "cutting-edge blockchain technologies" and generate ideas to develop blockchain-based solutions, create product prototypes, carry out pilot projects, and...

Read more

BioCoin and RCN combine efforts to assist green businesses worldwide

11/29/2017
BioCoin and RCN combine efforts to assist green businesses worldwide

International blockchain project RCN Network and Russian-based loyalty crypto-platform BioCoin have partnered to lend support to green businesses and farmers worldwide. RCN’s expertise will allow BioCoin to develop a superior framework for lending and...

Read more

Russian online payment company ChronoPay adds bitcoin support

05/29/2017

Russia-based worldwide online payment processing company ChronoPay announced today its clients can start to use bitcoin. Clients of ChronoPay include dozens of leading charitable organizations Greenpeace and WWF, MTS and Tele2, cellular service providers which...

Read more

Largest Russian bitcoin exchange MaRSe adds DASH

03/29/2017

Dash, the world’s third most valuable digital currency and the rising alternative to bitcoin, today announced a partnership that will heighten the user base in Russia. Moscow’s leading exchange, MaRSe, has integrated the digital...

Read more
Load More
Leave Comment

Where to Exchange

Leading crypto suite in Spain & LATAM Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
First U.S. regulated BTC exchange Visit
  • Trending
  • Latest
Trust Wallet launches anticipated browser extension of its crypto management app

Trust Wallet launches anticipated browser extension of its crypto management app

11/14/2022
ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

02/02/2023
Where Exactly Can You Spend Monero Cryptocurrency?

Where Exactly Can You Spend Monero Cryptocurrency?

10/20/2021
6 Best Cloud Mining Platform In 2022

6 Best Cloud Mining Platform In 2022

11/20/2022
ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

ETH infrastructure platform Blocknative adds TX bundles, cancellation, and replacement support

02/02/2023
Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

Crypto derivatives exchange Deribit to put in place trade surveillance platform from Eventus

01/24/2023
Crypto exchange Gemini launches new electronic OTC trading solution

Crypto exchange Gemini launches new electronic OTC trading solution

01/19/2023
Crypto securitization platform-GenTwo links to all Coinbase assets

Crypto securitization platform GenTwo links to all Coinbase assets

01/14/2023
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2023 CryptoNinjas Disclosures | Privacy Policy