Bitcoin is inching closer to the USD 6,000 threshold, giving upcoming ICOs more to cheer. In the past month alone, the bitcoin price has advanced by 50% even after shedding about 8% yesterday. Performance is a good sign for upcoming ICOs whose digital coins could one day trade on their own value, especially given that the returns were given on a backdrop of pending regulation and negative comments from naysayers on Wall Street.
There are hundreds of recent and upcoming ICOs out there that want the title as the next bitcoin, and they’re competing in an environment where many consumers aren’t even sure what a cryptocurrency is yet. A startup dubbed Latium is looking to change this by bringing awareness to the jobs market with its upcoming ICO.
Upcoming ICO Has McAfee Backing
According to Latium, cryptocurrencies as a tender have only scratched the surface, and a hurdle to the mass adoption of cryptocurrencies as payments has been the lack of a "real world value" for users. Latium hopes the ERC20 LATX token will solve this issue by requiring its token to drive its platform and for the value of the coin to be based on the startup's ecosystem rather than speculation.
Latium has an advantage in terms of awareness because it has the backing and advice of tech veteran John McAfee, who runs a cryptocurrency exchange and may similarly launch an upcoming ICO.
Latium has developed a tasking platform on the blockchain that automates a rating system for digital and physical tasks. The Latium platform is comprised both of employers and laborers, all of whom rely on the LATX cryptocurrency for issuing and receiving payment.
The ERC20 LATX tokens will be available on Nov. 15 for accepted applicants. They’re exchanging LATX 2,100 tokens for ETH 1. The public Latium ICO begins on Nov. 28, at which time the exchange rate becomes ETH 1 = LATX 2,000.