String Funding, a crowdfunding platform, is helping SMEs raise funds via Blockchain technology.
Tokens or coins which can be created with blockchain technology are a digital form of products or services. Various new fintech companies are raising capital through issuing tokens via existing blockchain platforms including ethereum and bitcoin. Token Offering aims to raise funds for the token issuers from the crowd, with the crowd given tokens as a reward for their contribution. For most token offering projects, tokens - much like loyalty points - give the crowd access to products and services provided by the token issuers.
Innovative Funding Mode
Token Offering is a new financing mode. It gives small or medium enterprises (SMEs) an alternate way to fund their business and promote their products.
OctoWallet, a Melbourne based crypto hardware wallet manufacturer, is set to launch its fundraising campaign by Token Offering via String Funding platform which is a blockchain technology backed crowdfunding platform. OctoWallet will offer a Pre-Sale Token Offering on 6 September, 2018. This type of Token Offering is a way to experiment with the Token Economy, which applies blockchain technology to real-life business to achieve financial goals.
“Tokens (OCT tokens) are created with blockchain technology and are backed by the products from OctoWallet. What this means is that token holders can use OCT tokens to purchase OctoWallet when it is released by the end of this year,” said a technical specialist from String Funding.
“After the Pre-Sale Token Offering event, OCT tokens will be listed for trading on the String Exchange platform. Anyone who demands a hardware wallet can purchase OCT tokens on the exchange platform at an agreed price. It helps OctoWallet to reach its end users worldwide,” a crowdfunding specialist from String Funding commented.
As transactions are immutably recorded on blockchain, this protects the ownership of the tokens. When tokens are traded for a product or a service, the token holder owns the product or the service provided by the token issuer. Tokens can then be distributed to people all around the world via the Internet, which helps the business to reach their end users globally and at low cost.
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