Beginning of ICOs in India: Will Indicoin and other Indian ICOs Gain grounds?

Beginning of ICOs in India: Will Indicoin and other Indian ICOs Gain grounds?

India’s maiden token sale is unfolding with more upcoming ICOs filling the pipeline. The social-services focused Indicoin ICO was launched in recent days after the startup raised ETH 900 in the token pre-sale amid modest expectations.

Cryptocurrencies haven’t really taken off in India yet, with only a fraction of the population reportedly having exposure to bitcoin. Indicoin has the agenda to improve the condition of the society through their “Actual proof of work” idea for which they are developing a decentralized application where the voting process will be done.

While an Uber-like startup in India is readying its debut in the public token sale market and it’s a play on the sharing economy. This upcoming ICO dubbed Drivezy will launch in Japan amid an advisory relationship with fintech play AnyPay in the country. The deal is reserved for accredited investors and “subject to regulatory restrictions.”

Peer-to-peer vehicle-and-bicycle sharing company Drivezy has attracted USD 10 million from the equity and debt capital markets from investors in the United States, Japan and some in India. Whether that success can be parlayed over to the cryptocurrency market is yet to be seen, and no doubt upcoming ICOs in India are watching. Drivezy was able to attract that capital under the premise that it accepts bitcoin amid a partnership with India exchange Unocoin, which is a promising sign.

Now, How only ICO could help to have accelerating growth? And how did Indicoin bring the first ICO to India? Well, a notable increase in the cryptocurrency trade all across the world and the income which a commoner get through these projects which help them to survive has shown the path for the various enthusiasts to grab this opportunity and construct these kinds of projects in India.