Driven by the need to discover alternative revenue generating ways, initial coin offerings (ICOs) have been in existence since 2013, but only became a recent sensation that is bound to not only cryptocurrency exchanges, but also other industries such as tourism, logistics, and transportation, among others.
ICOs are mostly used by startups to raise funds by bypassing the rigorous and limited capital-raising processes required by financial institutions. By using the ICO campaign, the startup sells a percentage of its larger portion of shares in exchange for legal tender.
In this year’s roundup, the following different industries are set to gain more through the use of ICOs, which will stimulate an increased use of more efficient operating systems for businesses.
ICOs And Transportation
Transportation ICO projects that help with real time tracking and tracing of transportation processes have already been developed. The ICOs smart contracts are set to increase transparency, efficiency, and revenue growth through a decentralized blockchain database. The smart contracts are capable of creating reports and responses that are always available to clients, owners, and other market participants.
Travel And Tourism
ICOs in the tourism industry will completely change how companies will offer their services. The blockchain systems will use applications programming interfaces to connect all tourist businesses, and provide them with travel information and patterns of specific audiences, therefore, facilitating data exchange between hotels, tourist companies, and tourist operators.
A good example is the LifToken wallet which has been speculated to integrate and facilitate data exchange between airlines.
Since last year, the tremendous exponential growth of ICOs has shown that they are the future of investing.